Boosted by the presence of countries like China and India, the Asia Pacific electric vehicle market is likely to grow over a value CAGR of 28% and cross USD 200 Billion by the end of the forecasted period. According to the report titled, ‘Asia Pacific Electric Vehicle Market Outlook, 2025’ by Bonafide Research, the region grew as the highest contributor with more than 50% of the global market since 2017, and is expected to the same through the forecasted period.
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The governments in the region are providing incentives, with an aim to promote the utility of electric vehicles in passenger as well as commercial segments. China is considered the largest market for electric vehicles in the Asia Pacific. The region has a high dominance of the normal or the slow charging station, holding a share of approximate to 60% in the year 2019. While China and Japan had 150000 and 40000 charging stations respectively, other countries in the region is far behind as far as charging stations are concerned.
The higher adoption rates of smart mobility services, government regulations, increasing fuel prices, and growing trend toward adopting non-fossil fuel-based vehicles are supporting the growth of electric vehicles. The market is to incline towards the commercial vehicles with the volume share increasing to nearly 10% by the end of the forecasted period, and reaching to a value less than USD 25 Billion. Further, the integrated mobility and ride-sharing services are improving the acceptance of electric vehicles in this region. By the forecast period, China is to witness growth in the adoption of electric buses, as more than 30 Chinese cities like Guangzhou, Zhuhai, Dongguan, Foshan, and Zhongshan, Nanjing, Hangzhou, Shaanxi, and Shandong have made plans to achieve 100% electrified public transport by 2020.
BEVs are highly demanded across the region owing to the cost-effectiveness of the vehicles, and the segment is expected to grow at a value CAGR of 30.04% during the forecast period. PHEV sale is slow in Asian countries due to the huge initial investments as the vehicle supports both plug-in electric energy and fuel-based electrical energy input.
The manufacturers such as Mercedes-Benz, Volvo, BMW, Volkswagen, Ford, Mitsubishi, etc., have already launched the plug-in-hybrid versions of the existing conventional vehicle models, which registered a considerable portion of the sales of the overall plug-in vehicle sales. China is the largest manufacturer of plug-in hybrid vehicles in the region. The country is also the largest market for these vehicles, with manufacturers, such as BYD, SAIC, and BAIC, leading the market.
Companies Mentioned:
Tesla, BMW Group, Nissan Motor Corporation, Toyota Motor Corporation, Volkswagen AG, General Motors, Daimler AG, Energica Motor Company BYD Company Motors, Ford Motor Company, Aiways, Citroen, Lightening GT, Micro Mobility, Zacua, Nio, Tata Motors
Ashok Leyland, Changsha Sunda New Energy Technology Co., Ltd.
CONSIDERED IN THE REPORT
• Geography: Asia Pacific
• Base year: 2019
• Historical year: 2014
• Forecasted year: 2025
REGIONS COVERED:
• Asia Pacific
• China
• Japan
• India
• Australia
• Korea
The report also covers the major countries in the region with a clear comparison of the past performance and the estimated growth of the market in the forecasted period. In addition, the market is studied in detail with respect to the different types of the excavators and its purposes regionally.
ASPECTS COVERED IN THE REPORT
• Market Size By Value for the time period (2014-2025F)
• Market Size By Volume for the time period (2014-2025F)
• Market Share by Vehicle Type (Passenger & Light Commercial)
• Market Share by Propulsion Type (BEV & PHEV)
• Market Share by Sales Channel (2020 & 2026F)
• Market Share by Charging Type ( Normal & Fast)
• Market Share by Country
Key Points Covered in this report:
• Market Evolution through value and volume CAGRs at different verticals
• Detailed discussion on the market dynamics that influence the market and the possible opportunities
• In sights on the market leader’s performance including market shares, strategies, products, financial positions, etc
This report would help you answer the following questions:
1. What is the market size and forecast of the Asia Pacific Electric Vehicle Market?
2. What are the inhibiting factors and impact of COVID-19 shaping the Asia Pacific Electric Vehicle Market during the forecast period?
3. Which region outstands in the Asia Pacific Electric Vehicle Market?
4. Which are the segments to invest in over the forecast period in the Asia Pacific Electric Vehicle Market?
5. What is the competitive strategic window for opportunities in the Asia Pacific Electric Vehicle Market?
6. What are the technology trends and regulatory frameworks in the Asia Pacific Electric Vehicle Market?
7. What are the major company in the Asia Pacific Electric Vehicle Market?
To Access Complete Report: https://www.bonafideresearch.com/product/210159994/Asia-Pacific-Electric-Vehicle-Market-Outlook-2025
TABLE OF CONTENTS
1 Executive Summary
2 Report Methodology
3 Global Electric Vehicle Market Outlook
3.1 Market Size
3.1.1 By Value
3.1.2 By Volume
3.2 Market Share
3.2.1 By Vehicle Type
3.2.2 By Propulsion Type (BEV & PHEV)
3.2.3 By Charging Type
3.2.4 By Vehicle Class
3.2.5 By Region
3.2.6 By Country
3.2.7 By Company
3.3 Global BEV Market Outlook
3.4 Global PHEV Market Outlook
4 Asia Pacific Electric Vehicle Market Outlook
4.1 Market Size
4.1.1 By Value
4.1.2 By Volume
4.2 Market Share
4.2.1 By Vehicle Type
4.2.2 By Propulsion Type (BEV & PHEV)
4.2.3 By Charging Type
4.2.4 By Country
4.3 Asia Pacific BEV & PHEV Market Outlook
4.3.1 By Value
4.3.2 By Volume
4.4 China Electric Vehicle Market Outlook
4.4.1 Market Size
4.4.2 Market Share
4.5 Japan Electric Vehicle Market Outlook
4.5.1 Market Size
4.5.2 Market Share
4.6 India Electric Vehicle Market Outlook
4.6.1 Market Size
4.6.2 Market Share
4.7 Australia Electric Vehicle Market Outlook
4.7.1 Market Size
4.7.2 Market Share
4.8 Korea Electric Vehicle Market Outlook
4.8.1 Market Size
4.8.2 Market Share
5 Market Dynamics
5.1 Key Drivers
5.2 Key Challenges
6 Market Trends and Developments
6.1 Electrification in Heavy Commercial Vehicle Segment
6.2 E-Car Rental Programs
6.3 Income Generation across the Life Cycle of a vehicle
6.4 Omnichannel Approach
7 Competitive Landscape
7.1 Porter’s Five Forces
8 Company Profile
8.1 Aiways Automobiles Corporative Limited
8.2 Ashok Leyland
8.3 Beijing Automobiles Industry Holding Corporative limited
8.4 Bentley Motors Limited
8.5 BMW Group
8.6 BYD Company Motors
8.7 Changsha Sunda New Energy Technology Limited
8.8 Daimler AG
8.9 Ford Motors
8.10 General Motors
8.11 Hyundai
8.12 NFI
8.13 Nio
8.14 Nissan Motor
8.15 Rimac Automobiles
8.16 SAIC
8.17 Tata Motors
8.18 Tesla
8.19 Toyota Motor Corporation
8.20 Volkswagen
8.21 Yutong
8.22 Zhejiang Geely
9 Strategic Recommendations
10 Disclaimer
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