Asia-Pacific Electric Vehicle Market Is Expected To Reach USD 363,362.22 Million By 2027

The research and analysis conducted in Asia-Pacific Electric Vehicle Report helps clients to predict investment in an emerging market, expansion of market share or success of a new product with the help of global market research analysis. This report has been designed in such a way that it provides very evident understanding of the business environment and Asia-Pacific Electric Vehicle industry. Nevertheless, this global market research report unravels many business problems very quickly and easily. Due to high demand and the value of market research for the success of different sectors, Asia-Pacific Electric Vehicle Market report is provided that covers many work areas.

Market expectations for likely development openings have been mentioned clearly in this world class Asia-Pacific Electric Vehicle Market research report. Competition analysis has been taken into account while preparing this report. A market analysis has turned into a vital piece of every business to settle on smart choices in the organizations which have been viably carried by experienced analysts. This market report provides best solutions for strategy development and implementation depending on client’s needs to extract tangible results. Businesses can bring about an absolute knowhow of general market conditions and tendencies with the information and data covered in this Asia-Pacific Electric Vehicle Market report.

Asia-Pacific electric vehicle market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with the CAGR of 23.7% in the forecast period of 2020 to 2027 and expected to reach USD 363,362.22 million by 2027 from USD 66,705.38 million in 2019. Government initiatives to promote electric vehicles and strong investment from the vehicle manufacturer are the factors for the market growth.

Electric vehicle offer various benefits over conventional fuel based vehicles such as low operational cost, zero carbon emission and others as they source energy from electricity. Consumer’s changed attitude towards electric vehicles is augmenting the market growth as they are more concerned over environmental pollution.

Increased number of vehicle production from China as well as increased investment in Indian automobile industry is driving the growth of market. Rising investment for battery technology development programme and concern towards environmental pollution will also drive the market. Favourable policies by government on vehicle emission standards will further create new opportunities that will impact this electric vehicle market growth in the forecast period to 2027. For instance, China introduced “China V" Emission Standards for all new vehicles as well as new buses and other heavy-duty diesel vehicle must need to follow new standard effective from January, 2020.

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This electric vehicle market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.

Asia-Pacific Electric Vehicle Market Scope and Market Size

Electric vehicle market is segmented on the basis of component, propulsion type, charging station type, class, power train, and vehicle type. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.

Based on component, the market is segmented into battery cells & packs, on-board charger, infotainment system and others. Battery cell & packs had accounted for the maximum share, as China is one of the leading providers of lithium ion battery for electric vehicle. For instance, according to Wood Mackenzie it has been witnessed that China itself possesses a 60 percent of lithium-ion battery production with respect to the global production. Due to this major OEM manufacturers are increasingly tying up with Chinese company for utilizing the battery in their electric vehicle.

Based on propulsion type, the market is segmented into plug-in hybrid electric vehicles (PHEVs), battery electric vehicles (BEVS), hybrid electric vehicles (HEVs) and fuel cell electric vehicles (FCEVs). The battery electric vehicle (BEVS) accounted for the largest market share as China government has set the goal of rolling out 5 million battery vehicles by 2020. To achieve this aim China government had received subsidies from the selected provinces and cities. Apart from this government had also exempted tax from the electric vehicle which also plays vital role in increasing the demand of EV in the Asia-Pacific region. For instance, China government has exempted 10% purchase tax from Tesla models. Thus the reduction in the tax will reduce the cost of electric vehicle which will further enhance the demand of electric vehicle.

Based on charging station type, the market is segmented into normal charging and super charging. Normal charging stations are dominating the market as major customers prefer to charge their vehicle at home when it is in idle mode. In addition, government initiative to develop solar energy based normal charging stations is also fuelling the segment growth. For instance, In October 2019, Nissan initiated new solar energy based electric vehicle charging station project to provide emissions-free motoring. The project is initiated by partnering with Victorian Government as well as Commonwealth Scientific and Industrial Research Organisation (CSIRO) of Australia. Such initiative taken by government and electric vehicle manufacturers will provide free or least price fuel solution for market.

Based on class, the market is segmented into mid-priced and luxury. Asia-Pacific being the dominating region for electric vehicles, as the companies are focusing on manufacturing mid-priced electric vehicle which is in line with disposable income for the countries in the region. The growing population of India and China has raised the living standard of the countries. Thus, consumers are opting for electric vehicles over conventional vehicle as its usage minimizes the carbon footprint. For instance, in April 2019, General Motor launched lowest price of electric vehicle for personal buyers.

Based on power train, the market is segmented into parallel hybrid, series hybrid and combined hybrid. Series hybrid power train segment is dominating the market as in China, the government had started green development program. In this program powertrain technologies play vital role on green development, thereby growing demand of powertrain in the electric vehicle. This has further impulse powertrain manufacturer to expand their production in China. For instance, in July 2019, Continental AG has opened new manufacturing plant in China especially for powertrain. The series hybrid powertrain are widely used in electric vehicle as its integration is easy comparative to the other types. Hence all these factors accelerate the demand of series hybrid powertrain in the Asia-Pacific region.

Asia-Pacific electric vehicle market is also segmented on the basis of vehicle type. The electric vehicle market, by vehicle type, is segmented into passenger cars, two wheelers and commercial vehicles. The passenger vehicle segment is dominating the market due to the continuously cutting down of subsidies from the electric passenger car is prominent factor for increase the demand of passenger car in the Asia-Pacific region. It has been witnessed that the China government provides a subsidiary of USD 7,165 per Electric vehicle.

Electric Vehicle Market Country Level Analysis

Electric vehicle market is analysed and market size information is provided by country, component, propulsion type, charging station type, class, power train, and vehicle type as referenced above.

The countries covered in the electric vehicle market report are China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, and Rest of Asia-Pacific.

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China dominates the Asia-pacific electric vehicle market due to strong manufacturing base as well as export of components required for electric vehicles, while the Japan is expected to grow with the highest growth rate in the forecast period of 2020 to 2027 because of increased consumption by population. For instance, General Motors, Volkswagen and others are intensifying their efforts in China as according to IEA global EV outlook China will be the leader in 2030 market with holding shares around 57 percent. In addition, According to the same report of IEA Global EV Outlook 2019, India’s electric vehicles will hold 29 percent share of sale in overall sale of all vehicles

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of regional brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.

Strong Investment in Research and Development Activities and New Technology Penetration

Asia-Pacific electric vehicle market also provides you with detailed market analysis for every country growth in automotive industry with electric vehicle sales, components sales, impact of technological development in batteries and changes in regulatory scenarios with their support for the electric vehicle market. The data is available for historic period 2010 to 2018.

Competitive Landscape and Electric vehicle Market Share Analysis

Electric vehicle market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Asia-Pacific presence, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, concept cars, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to Asia-Pacific electric vehicle market.

The major players covered in the report are AUDI AG, Kia Motors Corporation, SAIC Motor Corporation Limited, JAC, Hyundai Motor Company, BYD Company Ltd., TOYOTA MOTOR CORPORATION, Nissan Motor Co., LTD., Honda Motor Co., Ltd., among other players in Asia-Pacific. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.

For instance,

In November 2019, Volkswagen announced the investment of USD 66300 million for digitization and production of electric and hybrid vehicles. The capital will be invested to increase the production capacity at three plants in Germany as well as China and the U.S. plant will also be converted. With this investment the company is strengthening their product offering capabilities in global market.
In March 2019, Daimler AG and Geely formed 50:50 based joint ventures to produce zero-emissions models. The company is investing huge money in the china factory to develop new zero-emissions models in electric vehicle product portfolio. Through this, the company is strengthening their offering as well as enhancing the product portfolio for electric vehicle market.

Partnership, expansion and other strategies enhances the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for electric vehicles through expanded model range.

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The Asia-Pacific Electric Vehicle market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Asia-Pacific Electric Vehicle market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Asia-Pacific Electric Vehicle market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Asia-Pacific Electric Vehicle market. These factors have benefited the growth of the global market for Asia-Pacific Electric Vehicle. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

Reasons to Purchase this Report:

Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
Market value USD Million and volume Units Million data for each segment and sub-segment
Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

(**NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.)

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Table of Content:

PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

PART 03: RESEARCH METHODOLOGY

PART 04: INTRODUCTION

Market outline

PART 05: MARKET LANDSCAPE

Market ecosystem
Market characteristics
Market segmentation analysis

PART 06: MARKET SIZING

Market definition
Market sizing 2021
Market size and forecast

PART 07: FIVE FORCES ANALYSIS

Bargaining power of buyers
Bargaining power of suppliers
Threat of new entrants
Threat of substitutes
Threat of rivalry
Market condition

PART 08: MARKET SEGMENTATION BY PRODUCT

Global Asia-Pacific Electric Vehicle market by product
Comparison by product
Market opportunity by product

PART 09: MARKET SEGMENTATION BY DISTRIBUTION CHANNEL

Global Asia-Pacific Electric Vehicle market by distribution channel
Comparison by distribution channel
Global Asia-Pacific Electric Vehicle market by offline distribution channel
Global Asia-Pacific Electric Vehicle market by online distribution channel
Market opportunity by distribution channel

PART 10: CUSTOMER LANDSCAPE

PART 11: MARKET SEGMENTATION BY END-USER

Global Asia-Pacific Electric Vehicle market by end-user
Comparison by end-user

PART 12: REGIONAL LANDSCAPE

Global licensed Asia-Pacific Electric Vehicle market by geography
Regional comparison
Licensed Asia-Pacific Electric Vehicle market in Americas
Licensed Asia-Pacific Electric Vehicle market in EMEA
Licensed Asia-Pacific Electric Vehicle market in APAC
Market opportunity

PART 13: DECISION FRAMEWORK

PART 14: DRIVERS AND CHALLENGES

Market drivers
Market challenges

PART 15: MARKET TRENDS

PART 16: VENDOR LANDSCAPE

Overview
Landscape disruption
Competitive scenario

PART 17: VENDOR ANALYSIS

Vendors covered
Vendor classification
Market positioning of vendors

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