Asia Pacific Electric Vehicle Battery Market Size, Share & Growth Forecast to 2032

 The Asia Pacific EV battery market is expected to reach USD 138.18 billion in 2035, from USD 43.54 billion in 2025, with a CAGR of 12.2%. China is the largest market for EV batteries in Asia Pacific, with manufacturers such as CATL and BYD holding a substantial share of total production. The growth in domestic production capacity has bolstered the export volumes of batteries throughout the Asia Pacific region. Government policies aimed at promoting new energy vehicles have further enhanced the production capabilities for batteries. Innovations such as cell-to-pack technology enhance energy storage efficiency, while developments in blade batteries and high-performance batteries open up broader applications for both passenger and commercial vehicles. Collectively, these factors are influencing purchasing patterns and production volumes.

The 50–110 kWh battery segment is projected to dominate the Asia Pacific EV battery market, primarily due to the rising demand for mid-range EVs. Several upcoming models are expected to feature batteries within this capacity range. For instance, the 2025 BYD Dolphin will be equipped with a 60.5 kWh battery pack produced by Changsha FinDreams Battery Co., Ltd., while the 2025 Arcfox Alpha S will include a 67.3 kWh battery pack from CATL. As the demand for EVs increases and consumers look for vehicles with a suitable battery capacity at a competitive price, these battery capacities are likely to become increasingly popular.

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The natural graphite segment is expected to exhibit the fastest growth due to its critical role as a lithium-ion battery anode material. Localized value chain support has boosted graphite mining and processing R&D efforts, with major players working on developments in these areas. Panasonic Energy Co., Ltd., a subsidiary of Panasonic Holdings Corporation, announced in February 2024 that it entered into a 7-year agreement with Nouveau Monde Graphite Inc. for natural graphite supply. The company will invest USD 25 million in Nouveau Monde Graphite.

The BEV segment is expected to lead the Asia Pacific EV battery market as customers increasingly prefer pure electric vehicles over hybrid models. Maintenance costs for EVs are significantly lower. Additionally, improvements in EV batteries, particularly in energy density and charging times, have made them more attractive. Government incentives and strict emission standards worldwide have further encouraged people to adopt EVs. In January 2025, Suzuki launched its first global strategic EV, the e-VITARA, at the Bharat Mobility Global Expo in New Delhi. It will be manufactured at Maruti Suzuki’s Gujarat plant and launched across India, Europe, and Japan.

China is expected to dominate the Asia Pacific EV battery market, mainly driven by its strong position in EV manufacturing and battery production. The country’s growth can also be attributed to substantial government support through subsidies and policies promoting EV adoption, a well-established EV supply chain, and significant investments in battery technology innovation. EV battery costs in China remain substantially lower, around USD 80-90, compared to other economies, as large manufacturers sign long-term supply contracts that secure stable input prices and high-volume demand. Domestic market strength is further reinforced by leading EV manufacturers such as BYD, Geely Auto, and NIO, along with major battery producers like CATL, CALB, and Sunwoda Electronics.

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