ASEAN Electric Vehicle Market Size, Share, Analysis, Trends, Growth and Forecast 2025

The ASEAN Electric Vehicle market is estimated to grow at a CAGR of more than 19.0% during the forecast period. The rising need to address future energy requirements is one of the major factors to drive the growth of the market. The ASEAN Electric Vehicle market is estimated to grow at a CAGR of more than 19.0% during the forecast period. The rising need to address future energy requirements is one of the major factors to drive the growth of the market. The EV market is emerging as an integral part of the automotive industry that provides a pathway to achieve a higher level of energy efficiency with a reduced level of pollutant emissions and other greenhouse gases. The growing environmental concerns along with cohesive government initiatives and subsidies are some other aspects to fuel the market growth in the region. For instance, in February 2019, the Thailand Board of Investment (BOI) has considered waiving excise tax to 2% from 8% for eligible electric vehicle manufacturers in Thailand to encourage them to produce electric cars.

Get Sample Copy of ASEAN Electric Vehicle Market at: https://www.omrglobal.com/request-sample/asean-electric-vehicle-market

Top Key Players - BMW AG, Eclimo Sdn. Bhd., Honda Motor Co., Ltd., Mitsubishi Motors Corp., Nissan Motor Co., STAR 8 (THAILAND) Co. Ltd., Terra Motors Corp., Toyota Motor Corp.

Furthermore, a number of electric vehicle manufacturers are considering to increase their investments in the production of electric cars in the region. For instance, in June 2019, Toyota Motor Corp. had planned to invest around $2 billion to increase the development of electric vehicle units in Indonesia. Therefore, the growing investments by the key market players in the region are anticipated to fuel the growth of the ASEAN electric vehicle market during the forecast period. However, the high cost of batteries and the low-range availability of electric vehicles are the key factors to restrain their market growth in the region.

For More Information, get A full report of ASEAN Electric Vehicle Market is available at: https://www.omrglobal.com/industry-reports/asean-electric-vehicle-market

The market is segmented on the basis of vehicle type, propulsion technology, and battery type. Based on vehicle type, the market is sub-segmented into commercial vehicles, passenger cars, and two-wheeler. Based on propulsion technology the market is sub-segmented into battery electric vehicles, and plug-in hybrid electric vehicles. Based on battery type, the market is sub-segmented into NiMH, Li-Ion, and others. Based on battery type, Li-ion batteries are anticipated to witness considerable growth during the forecast period.

Market Segmentation

ASEAN Electric Vehicle Market by Vehicle Type

o Commercial Vehicles
o Passenger Cars
o Two-Wheelers

ASEAN Electric Vehicle Market by Propulsion Technology

o Battery Electric Vehicles
o Plug-in Hybrid Electric Vehicle

ASEAN Electric Vehicle Market by Battery Type

o NiMH
o Li-Ion
o Others

For more customized data, request for report customization @ https://www.omrglobal.com/report-customization/asean-electric-vehicle-market

Media Contact:

Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: info@omrglobal.com
Contact no: +1 646-755-7667, +91 7803040404

About Orion Market Research

Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.

For More Information, Visit https://www.omrglobal.com/

This release was published on openPR.