The Asia-pacific electric vehicle battery market is estimated to grow at a considerable growth rate during the forecast period. The declining lithium-ion battery prices, rapidly increasing adoption of electric vehicles, and the growing renewable sector are the key factors to contribute towards the growth of the electric vehicle battery market in the region. Japan and China are the major countries to make a considerable contribution to the market growth of the electric vehicle batteries market in the Asia-Pacific region. These countries are actively involved in promoting citizens to adopt electric vehicle by offering a different types of subsidies and incentives. For instance, in April 2018, the panel set up by the trade ministry made an announcement about the aim of the Japanese central government to have all new cars sold in Japan be electric or hybrid vehicles by 2050.  
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The market is segmented on the basis of battery type vehicle type, and propulsion technology. Based on the battery type, the market is sub-segmented into NiMH, Li-Ion, and others. Based on vehicle type, the market is sub-segmented into commercial vehicles, passenger cars, and two-wheeler. Based on propulsion technology the market is sub-segmented into battery electric vehicle, plug-in hybrid electric vehicle. Based on the propulsion type, plug-in hybrid vehicles are anticipated to have considerable market growth during the forecast period. 
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Some of the major companies which are contributing to the growth of the Asia-Pacific electric vehicle market include Shenzhen BAK Technology Co. Ltd, BYD Co. Ltd., Contemporary Amperex Technology Co., Ltd., and Hitachi, Ltd. and others. These players are involved in expansion of their market presence by the launch of new battery manufacturing plants in this region.
Market Segmentation
Asia-Pacific Electric Vehicle Battery Market by Battery Type
⦁ NiMH
⦁ Li-Ion
⦁ Others
Asia-Pacific Electric Vehicle Battery Market by Vehicle Type
⦁ Commercial Vehicles
⦁ Passenger Cars
⦁ Two-Wheelers
Asia-Pacific Electric Vehicle Battery Market by Propulsion Technology
⦁ Battery Electric Vehicles
⦁ Plug-in Hybrid Electric Vehicle
Regional Analysis
⦁ China
⦁ Japan
⦁ India
⦁ Rest of Asia-Pacific
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