Categories: Wire Stories

Asia-Pacific Electric Car Market Report 2022: Increasing EV and Battery Manufacturing Capabilities in the Region Presents Opportunities – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Asia-Pacific Electric Car Market by Propulsion Type (BEV, FCEV, PHEV, HEV), Power Output (Less Than 100kW, 100 kW to 250 kW), End Use (Private, Commercial), and Geography – Forecast to 2028” report has been added to ResearchAndMarkets.com’s offering.

The research report provides an in-depth analysis of the Asia-Pacific electric cars market and emphasizes on the current market trends, market size, market shares, recent developments, and forecast till 2028. The Asia-Pacific Electric Cars Market is expected to reach $761.97 billion by 2028, at a CAGR of 34.6 % during the forecast period, 2021-2028. By volume, this market is expected to grow at a CAGR of 40.4 % from 2021 to reach 53.8 million units by 2028.

The growth of this market is mainly attributed to the supportive government policies and regulations, increasing investments by leading automotive OEMs, and decreasing battery prices are key factors driving the growth of the Asia-Pacific electric cars market.

The study offers a comprehensive analysis of the Asia-Pacific electric cars market with respect to the propulsion type (hybrid vehicles, battery electric vehicles, and fuel cell electric vehicles), power output (less than 100 kW, and 100 kW to 250 kW), end use (private use, and commercial use), and geography. The study also evaluates industry competitors and analyzes the market at the country level.

Geographically, China is estimated to account for the largest share of the Asia-Pacific electric cars market in 2021 by value as well as volume. The large share of this country is mainly attributed to the extensive government support and expansion in charging infrastructure, tax exemptions for purchasing an electric car by 2023, improving the quality of electric cars, increasing charging facilities, and subsidies offered by the Ministry of Commerce.

China’s EV market is growing significantly with extensive government support and expansion in charging infrastructure. Increasing government efforts to push electric car sales to up to 25% of the car sales by 2025 have been driving the market growth considerably in China. To achieve the set target, the government has extended the tax exemptions for purchasing electric cars by 2023.

Thus, considering the above facts, the investors have started investing in this market as they seek this as a huge opportunity. Foreign automobile companies are infusing investments worth USD 67.8 billion in China’s electric vehicles industry. For instance, in 2018, SAIC Volkswagen invested USD 2.45 billion in building an electric vehicles plant in Shanghai.

Key Questions Answered in the Report-

  • Which are the high-growth market segments in terms of propulsion type, power output, end use, and geography?
  • What is the historical market size for the Asia-Pacific electric cars market?
  • What are the market forecasts and estimates for the period 2021-2028?
  • What are the major drivers, restraints, opportunities, and challenges in the Asia-Pacific electric cars market?
  • Who are the major players in the market, and what share of the market do they hold?
  • Who are the major players in various countries?
  • How is the competitive landscape for the Asia-Pacific electric cars market?
  • What are the recent developments in the Asia-Pacific electric cars market?
  • What are the different strategies adopted by the major players in the market?
  • What are the key geographic trends, and which are the high-growth countries?
  • Who are the local emerging players in the Asia-Pacific electric cars market, and how do they compete with the other players?

Market Dynamics

Drivers

  • Supportive Government Policies and Regulations
  • Increasing Investments by Leading Automotive OEMS
  • Decreasing Battery Prices

Restraints

  • Lack of Charging Infrastructure in Developing Countries

Opportunities

  • Increasing Adoption of Electric Mobility
  • Increasing EV and Battery Manufacturing Capabilities in Southeast Asia

Challenges

  • High Cost of Electric Vehicles
  • Range Limitation of EVs

Scope of the Report

Asia-Pacific Electric Cars Market, by Propulsion Type

  • Hybrid Vehicles
  • Pure Hybrid Vehicles
  • Plug-in Hybrid Vehicles
  • Battery Electric Vehicles
  • Fuel Cell Electric Vehicles

Asia-Pacific Electric Cars Market, by Power Output

  • Less Than 100 kW
  • 100 kW to 250 kW

Asia-Pacific Electric Cars Market, by End Use

  • Private Use
  • Commercial Use

Asia-Pacific Electric Cars Market, by Geography

  • Asia-Pacific
  • China
  • Japan
  • South Korea
  • India
  • Singapore
  • Thailand
  • Philippines
  • Malaysia
  • Australia
  • New Zealand
  • Taiwan
  • Rest of Asia-Pacific

Key Topics Covered:

1. Introduction

2. Research Methodology

3. Executive Summary

4. The Impact of COVID-19

5. Market Insights

6. Asia-Pacific Electric Cars Market, By Propulsion Type

7. Asia-Pacific Electric Cars Market, By Power Output

8. Asia-Pacific Electric Cars Market, By End Use

9. Asia-Pacific Electric Cars Market, By Geography

10. Competitive Landscape

11. Company Profiles

12. Appendix

Companies Mentioned

  • Hyundai Motor Company
  • Honda Motor Co. Ltd.
  • Toyota Motor Corporation
  • Tata Motors Limited
  • Mahindra and Mahindra Ltd.
  • NIO Inc.
  • XPeng Inc.
  • Geely Automobile Holdings Limited
  • Nissan Motor Co. Ltd.
  • Mitsubishi Motor Corporation .

For more information about this report visit https://www.researchandmarkets.com/r/rrejx1

Contacts

ResearchAndMarkets.com

Laura Wood, Senior Press Manager

press@researchandmarkets.com

For E.S.T Office Hours Call 1-917-300-0470

For U.S./ CAN Toll Free Call 1-800-526-8630

For GMT Office Hours Call +353-1-416-8900

Alex

Recent Posts

Carta continues with global expansion in Australia to support the country’s local startup and investor ecosystem

The US-based private capital software platform sets up base in Sydney as part of Investment…

38 mins ago

Mastering exotic currency pairs: trading strategies with global broker Octa

KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 14 November 2024 - Adding exotic currency…

1 hour ago

SIBUR to Offset Carbon Footprint of Russia’s COP29 Delegation

MOSCOW, RUSSIA - Media OutReach Newswire - 14 November 2024 - SIBUR plans to offset…

1 hour ago

St. George’s University Invites South Korean Students to Apply for January 2025 Intake

SEOUL, SOUTH KOREA - Media OutReach Newswire - 14 November 2024 - St. George’s University…

4 hours ago

Swiss Business Hub: Global Fintechs Thrive on Switzerland’s Tech-Neutral Approach to AI

SINGAPORE - Media OutReach Newswire - 14 November 2024 - In the rapidly evolving landscape…

11 hours ago

CGTN:G20 pushes for global cooperation to eradicate hunger and poverty

BEIJING, CHINA - Media OutReach Newswire - 13 November 2024 - The first-ever Global Alliance…

11 hours ago