Japan Electric Vehicle Battery Market Research Report

 

Japan Electric Vehicle Battery Market

The Japan Electric Vehicle Battery market is growing significantly over the forecast period (2020-2027). The growing investment by the Japanese government for the production of electric vehicles is one of the biggest factors that is contributing to the growth of the Japan Electric Vehicle Battery Market.

The automotive industry plays a crucial role in the economic growth of Japan. The increasing number of investments by the government for the designing and production of electric vehicles, followed by the introduction of various favorable government incentives such as tax cuts, exemptions from license and registration fees, and purchase grants, are further accelerating the market growth over the coming years. In addition to this, the rising concerns related to the environment driven by the increasing carbon emissions from conventional vehicles and the rising emphasis on the development in engineering and technology are certain other factors that are surging the demand for electric vehicles, which in turn, is positively impacting the market growth.

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The government of Japan has constantly been supporting the formation of policies to encourage the adoption of electric vehicles in the country. Moreover, the government signed the Paris agreement in 2015, with an objective to decrease the emissions from the vehicles by approximately 80 percent by the end of 2050, which will accelerate the production and deployment of electric vehicles, thus boosting the market growth.

The easy availability of proper infrastructure for the charging of electric vehicles is directly propelling the demand for electric vehicles among the customers. Furthermore, for the improvement in the performance of the battery, the Japanese government is supporting numerous projects for R&D of the next generation battery, thus encouraging the innovation and ecosystem of the battery industry.

Based on the battery type, the lithium-ion battery is expected to dominate the Japan electric vehicle battery market over the forecast period owing to its accelerating adoption among various electric battery vehicle manufacturers. The lithium-ion battery offers numerous benefits such as it is lightweight, high energy density, eco-friendly nature, and needs less space, which is further attracting new customers towards the market.

Key Players of the Japan Electric Vehicle Battery Market:

·        Automotive Energy Supply Corporation (AESC)

·        Hitachi Vehicle Energy Ltd.

·        GS Yuasa International Ltd.

·        Panasonic Corporation

·        Mitsubishi Motors Corporation

·        DENSO Corporation

·        Toshiba Corporation

·        Contemporary Amperex Technology Co. Limited

·        BYD Company Limited

·        Sanyo Electric Co. Ltd.

Market Segmentation:

Japan Electric Vehicle Battery Market Report Segment by Battery Type:

·        Lead Acid Battery

·        Lithium-Ion Battery

·        Nickel-Metal Hydride Battery

·        Solid State Battery

Japan Electric Vehicle Battery Market Report Segment by Propulsion Type:

·        Battery Electric Vehicle

·        Plug-in Hybrid Electric Vehicle

·        Hybrid Electric Vehicle

Japan Electric Vehicle Battery Market Report Segment by Vehicle Type:

·        Two-Wheelers

·        Three-Wheelers

·        Electric Cars

·        Electric Buses & Trucks

About GMI Research

GMI Research is a full-service market research and business-consulting organization that offers global as well as medium and small businesses with bespoke industry and market analysis to help them in making the toughest business decision. We have a team of industry experts that provides unbiased insights on reports to best meet the specific needs of our clients. GMI Research’s analysts rely on secondary research to lay down the foundation of every report. We use not only the internal but also the external databases to cull out relevant information of the industry. Our main aim is to keep our clients abridged of the emerging opportunities and challenges in a wide range of industries. We provide step-by-step assistance to our client, through strategic and consulting services to reach a managerial and actionable decision. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping businesses stay ahead of the curve.

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