Asia Pacific Electric Commercial Vehicle Battery Pack Market - By Vehicle, By Propulsion, By Battery Chemistry, By Battery Capacity, By Battery Form Factor, Growth Forecast 2025 – 2034
Report ID: GMI14144
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Published Date: June 2025
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Report Format: PDF
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Base Year: 2024
Companies covered: 20
Tables & Figures: 190
Countries covered: 10
Pages: 170
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Asia Pacific Electric Commercial Vehicle Battery Pack Market
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Asia Pacific Electric Commercial Vehicle Battery Pack Market Size
The global Asia Pacific electric commercial vehicle battery pack market was valued at USD 16 billion in 2024 and is estimated to register a CAGR of 11.7% between 2025 and 2034. The market is witnessing substantial growth, driven by increasing government initiatives to promote clean energy, urban air quality concerns, and the accelerated adoption of electric mobility in major economies such as China, Japan, and India.
In the Asia Pacific region, supportive government policies and incentives drive the market for battery electric vehicles (BEV). Major economies such as China, India, and South Korea have implemented policies including subsidies, tax breaks, EV infrastructure support, and lowered registration fees which increase the affordability of BEVs. Government of India launched the EV Mitra Scheme (2025) to subsidize the development of charging stations. This step of the Indian government is expected to decrease the initial cost of installing EV charging stations. These subsidies, along with other government schemes, are enabling the adoption and expansion of EVs in India.
In the future, the market is predicted to keep growing as technology improves in batteries and vehicle systems. Technologies for making batteries more efficient, reducing the time needed to charge and increasing their energy content are in development. As these improvements, electric commercial vehicles can be useful both on long journeys and in cities. More localized production and investment in supply chains is also making it possible for more people to get the products they need.
EV and battery technology have received a boost in the Asia Pacific battery electric vehicle market supported by the technological innovations which, in turn, help improve vehicle performance and reduce customer concerns regarding EVs. Newer innovations like solid state batteries, which have greater energy density along with faster charging, are improving the driving range along with reducing charging time for EVs.
Apart from receiving support from the government and advances in technology, electric commercial vehicles are also being adopted due to people and companies caring more about sustainability in Asia Pacific. More logistics companies, public transport operators and delivery firms are focusing their work on environmental goals. So, there is an increased need for trustworthy and efficient battery packs, prompting producers to invent new ways and build them on a larger scale. More devices are now including smart battery management which makes it possible to check battery life, improve its performance and avoid accidents.
Asia Pacific Electric Commercial Vehicle Battery Pack Market Trends
Asia Pacific Electric Commercial Vehicle Battery Pack Market Analysis
Based on vehicle, the market is segmented as LCV, MCV, and HCV. In 2024, LCV segment was valued at around USD 9.8 billion and held a market share of over 61%.
Based on the propulsion, the Asia Pacific electric commercial vehicle battery pack market is segmented as BEV and PHEV. The BEV segment dominated in 2024 with a market share of around 67%.
Based on battery chemistry, the Asia Pacific electric commercial vehicle battery pack market is segmented into LFP (lithium iron phosphate), NCA (nickel cobalt aluminum), NMC (nickel manganese cobalt), and others. In 2024, the LFP segment led the market.
Based on battery capacity, the electric commercial vehicle battery pack market is segmented as Below 50 kWh, 50-150 kWh, and above 150 kWh. The above 150 kWh segment led the market in 2024.
Based on battery form factor, the market is segmented as prismatic cells, pouch cells, and cylindrical cells. The prismatic cells segment led the market in 2024.
China dominates the electric commercial vehicle battery pack market in the Asia Pacific with a major share of over 60% and was valued at around USD 115.2 billion in 2024.
The growth forecast for the electric commercial vehicle battery pack market in India from 2025 to 2034 is highly encouraging.
Japan is expected to show remarkable and promising development in the electric commercial vehicle battery pack market from 2025-2034.
The electric commercial vehicle battery pack market in South Korean region is expected to experience significant and promising growth from 2025 to 2034.
Asia Pacific Electric Commercial Vehicle Battery Pack Market Share
The Top 5 companies leading the Asia Pacific battery electric vehicle market in 2024 were BYD Company Ltd., Panasonic Energy, Samsung SDI, Contemporary Amperex Technology Co. Limited (CATL) and LG Energy Solution Ltd. Together, they held a market share of around 27%.
Asia Pacific Electric Commercial Vehicle Battery Pack Market Companies
Major players operating in the Asia Pacific electric commercial vehicle battery pack industry include:
Asia Pacific Electric Commercial Vehicle Battery Pack Industry News
The Asia Pacific electric commercial vehicle battery pack market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue ($Bn) and shipments (units) from 2021 to 2034, for the following segments:
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Market, By Vehicle
Market, By Propulsion
Market, By Battery Chemistry
Market, By Battery Capacity
Market, By Battery Form Factor
The above information is provided for the following regions and countries: