The GMI Research predicts that the Japan Electric Vehicle Battery Market will perceive an increase in demand over the forecast period. This is because of the intensifying focus on developing renewable energy and increasing utilization of electric vehicles.
Introduction of the Japan Electric Vehicle Battery Market
Electric vehicle or rechargeable battery in the machinery industry is implemented with the motive to decrease carbon discharge and certify sustainability. The battery includes many small cells organized in a series to attain the required voltage and potential in the final pack. The cell supports electrodes and electrolyte to fabricate electric current with the help of chemical reaction.
Key Players of Market:
- Hitachi Vehicle Energy Ltd.
- Automotive Energy Supply Corporation (AESC)
- Sanyo Electric Co. Ltd
- GS Yuasa International Ltd.
- Mitsubishi Motors Corporation
- Panasonic Corporation
- DENSO Corporation
- Contemporary Amperex Technology Co. Limited
- Toshiba Corporation
- BYD Company Limited
Japan Electric Vehicle Battery Market Dynamics
The aggravating investment by the government of Japan to design and produce autonomous vehicles and strategic government incentives such as tax evasion, purchase allowances and dispensation from license and registration fees are elevating the growth of the Japan electric vehicle battery market. In addition, the surging apprehension towards environment because of the rising carbon discharge from traditional vehicles and ongoing enhancement in engineering technology are stimulating the market growth. Besides this, the Japanese Government entered in an agreement with Paris in 2015 with a focus to decrease emissions from the vehicles by approximately 80 percent by the year 2050 will amplify the production and usage of the electric vehicles which is further strengthening the Japan electric vehicle battery market size.
Furthermore, the accessibility of conventional charging infrastructure for the electric vehicles is promoting the acquisition of electric vehicles among the customers is bolstering the market growth. Moreover, the elevating performance of the battery, the government in Japan promotes projects for research and development of the next generation battery thereby encouraging the invention and environment of the battery industry. Moreover, the Japanese government is offering subsidies to strengthen the private-sector execution of batteries and motors for the electric vehicles, which assists the automakers to safeguard the steady supplies of unfamiliar metals, which are the essential materials of the batteries and stimulates the market growth.
Battery Type Segment Drivers
On the basis of battery type, lithium-ion battery is contemplated to capture the highest market share over the coming years. The amplifying endorsement among electric battery vehicle producers will pave the way for market growth. In addition, as per the Japan electric vehicle battery market report various properties of these batteries such as lighter weight, excessive energy density, environment friendly nature and need of less space is encouraging the market growth.
Propulsion Type Segment Drivers
Based on propulsion type, battery electric vehicle is speculated to increase at a faster rate owing to the growing acquisition of battery electric vehicles among the consumers. It is a kind of vehicle that runs primarily on electricity via onboard batteries, which are electrified by plugging the vehicles into an outlet.
Japan Electric Vehicle Battery Market Segmentation:
Segmentation by Battery Type
- Lead Acid Battery
- Lithium-Ion Battery
- Nickel-Metal Hydride Battery
- Solid State Battery
Segmentation by Propulsion Type
- Battery Electric Vehicle
- Plug-in Hybrid Electric Vehicle
- Hybrid Electric Vehicle
Segmentation by Vehicle Type
- Electric Cars
- Electric Buses & Trucks
Segmentation by Region:
- United Kingdom
- Rest of Europe
- Asia Pacific
- Rest of APAC
- North America
- United States of America
- South Africa
- Saudi Arabia
About GMI Research
The consulting and research company offering different enterprises with perceptions about business and research reports using internal and external databases. The research team of GMI organization gathers all the material information about distinct industries with the concentration on providing précised information about the approaching opportunities and challenges. The team of experts assists clients in acknowledging the effect of share, size, drivers, growth opportunities, and other dynamics. The organization got listed as the most promising research organization in 2018’s Silicon Indian Magazine.