Increasing government support, increasing charging facilities and low maintenance costs will contribute to the growth of Electric Vehicles Industry in Malaysia: Ken Research
The electric vehicles market is at a very nascent stage. Public awareness needs to be strengthened to encourage more users to switch to EVs. This includes continuously raising awareness on the benefits of EVs - particularly about its range and reliability, ensuring the readiness of infrastructure, and promote benefits including the current incentives offered for electric cars & charging stations.
Consumers started preferring and realized the need for an electric vehicle, especially 2W, when the mechanical shops were closed during COVID-19 lockdown in 2020.
Consumers are thinking to shift to electric vehicles also because, during Budget 2022, the government proposed that EVs be completely exempt from import duty, excise duty and sales tax. EVs will also benefit from a road tax exemption of up to 100% under the proposal, while an income tax relief of up to RM2,500 will be provided on the cost of purchasing and installing, renting or taking up hire purchase facilities, as well as subscription payments of EV charging facilities.
Request For Sample Report @ https://www.kenresearch.com/sample-report.php?Frmdetails=NTg0MjY1
Competitive Landscape in Malaysia's Electric Vehicle Industry
Malaysia's Electric Vehicle Industry is consolidated with presence of limited players for 2-wheelers as well as 4-wheelers in Malaysia. These players compete with each other on the basis of products offered, product quality, value added services, product pricing, its features, battery technology type, battery capacity, battery type, voltage type etc. All the electric 4-wheeler brands available in Malaysia are imported. Local 4-wheeler brands such as Proton and Perodua are yet to launch electric 4 wheelers in Malaysia. Companies like Eclimo has adopted a B2B model, where they rent/sell their electric 2-wheelers to corporates such as KFC. Renting electric 2-wheelers and 4-wheelers has been increasing in Malaysia.
Impact of COVID-19 on Electric Vehicles Industry
The COVID-19 pandemic had a negative impact on the market as manufacturing activities were on halt for several months in the first half of the year 2020. Also, the disrupted supply chain and the shortage of raw materials in the year 2021 had a negative impact on the growth of the market. Malaysia is along major sea trade routes and due to the lockdown and shutdown of countries, the sea trade has also come to a halt, stopping transport of vehicles across the world. However, the gradual opening of the market in the later stages of 2020 and 2021 has paved way for economic revival of the market.
The Covid-19 pandemic also had a significant impact on household income according to a study conducted by the Department of Statistics. The Covid-19 impact study on household income in Malaysia for 2020 revealed that the number of poor households increased to 639,800 in 2020, up from 405,400 in 2019. This largely affected the sale of electric vehicles in Malaysia.
The publication titled "Malaysia Electric Vehicle Market Outlook to 2026: Driven by government initiatives along with the need to curb vehicular emissions, and increasing charging infrastructure" provides a comprehensive analysis of the electric vehicles industry by analyzing historical statistics and corresponding developments in the electric vehicles market. The market growth declined during COVID as manufacturing activities were on halt and the supply chain got disrupted. Given the consolidated structure in the electric vehicle industry, analysts have elaborated on competitive landscape of major electric 2-wheelers and 4-wheelers player on the basis of models launched, product prices, technology type and other operational parameters. The report also covers a snapshot on players business model, value chain analysis, growth drivers, Porters 5 forces analysis, impact of COVID-19 and factors governing the future outlook of industry. The report also provides comprehensive insight on the market size and segmentation of the industry. The report highlights the pain points of the electric vehicles industry along with detailed company profiles of major electric 2-wheeler and 4-wheeler brands. The report concludes with projections for future industry market size, market segmentations and analyst take on future market scenario.
Key Segments Covered in Malaysia Electric Vehicles Industry:-
By Type of EV
By Type of Electric 2-wheelers
By Type of Battery Capacity for electric 2 wheelers
By Battery Technology Type for electric 2 wheelers
By Voltage Type for electric 2 wheelers
By Battery Type for electric 2 wheelers
Sealed Lead Acid
Request For Sample Report @ https://www.kenresearch.com/sample-report.php?Frmdetails=NTg0MjY1
By Brand of EV
By Type of EV Technology
By EV Class
Time Period Captured in the Report:-
Historical Period: 2016-2021
Forecast Period: 2022F-2026F
Malaysia Electric Vehicles Industry Players:-
Electric 2 wheelers
Electric 4 wheelers
Key Topics Covered in the Report:-
Ecosystem of Electric Vehicles Industry
Value Chain Analysis of Electric Vehicles Industry
Business Models of Major Entities in the Electric Vehicles Industry
Customer Preferences and Buying Decision Behavior in Electric Vehicles Industry
Market Size of Electric Vehicles Industry by Transaction Value and Sales Volume
Market Potential of Malaysia Electric Vehicles Market
Market Segmentation of Electric Vehicles Industry by type of EV, type of electric 2 wheelers, type of battery capacity, type of battery technology, type of voltage, type of EV class, type of EV technology, by type of brands, by battery type
Competitive Scenario of the Electric Vehicles Industry
Issues and Challenges in Electric Vehicles Market
Trends and Developments in the Electric Vehicles Industry
Porter's Five Forces analysis of the Electric Vehicles Industry
Growth Drivers of Electric Vehicles Industry
Challenges and Restraints in the Electric Vehicles Industry
Government Rules and Regulations in the Electric Vehicles Industry
Impact of Covid-19 and Government Regulations on Electric Vehicles Industry
Future Market Size of Electric Vehicles Industry by Transaction Value and Sales Volume
Future Market Segmentation of Electric Vehicles Industry by type of EV, type of electric 2 wheelers, type of battery capacity, type of battery technology, type of voltage, type of EV class, type of EV technology, by type of brands, by battery type
For More Information on the research report, refer to below link:-
Ankur Gupta, Head Marketing & Communications
Ken Research Pvt. Ltd.,
Unit 14, Tower B3, Spaze I Tech Business Park, Sohna Road, sector 49 Gurgaon, Haryana - 122001, India
Ken Research is a research based management consulting company. We provide strategic consultancy to aid clients on critical business perspective: strategy, marketing, organization, operations and technology transformation, advanced analytics, corporate finance, mergers & acquisitions and sustainability across all industries and geographies. We provide business intelligence and operational advisory across 300+ verticals underscoring disruptive technologies, emerging business models with precedent analysis and success case studies. Some of top consulting companies and Market leaders seek our intelligence to identify new revenue streams, customer/ vendor paradigm and pain points and due diligence on competition.
We currently cater to 300+ sectors with 150,000+ research repository across 196+ countries serving 1000+ clients and have partnered with almost 25+ content aggregators.
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Increasing government support, increasing charging facilities and low maintenance costs will contribute to the growth of Electric Vehicles Industry in Malaysia: Ken Research here
News-ID: 2705703 • Views: 225
More Releases from Ken Research Pvt Ltd
Market Research Subscription Services Encourage You in All Your Requirements: Ke …
During the present trend, the market space is very vivacious in nature. In an endeavor to cope with such continual deviations, market contributors are actively in inevitability of research and consulting studies. The Ken Research as an originator of the market intelligence and wide-fluctuating aggregator, equity and region research reports dispense the business intellect and effective consultative crosswise 300+ vertical underscoring the provocative technologies, emerging business models along the routine
The Emerging Trends of Human Platelet Lysate Industry: Ken Research
The Global Human platelet lysate Market has grown at a significant growth rate in the past few decades. The report insights into the market shares, revenues, and trends. It discusses the data assessments and specifics of the market size and the industry. The report signifies the trending branding assessments of the top grooming companies in the world. The report gives a bright light to the regional and volumetric analysis of
Global Audiology Devices Market Insights, Forecast to 2027: Ken Research
The electronic devices that are utilized by audiologists to diagnose and treat loss of hearing or hearing impairment are called audiology devices. These devices are also extensively used for monitoring or studying hearing. These devices are also referred to as hearing aid. According to the research report, 'Audiology Devices Market: Current Analysis and Forecast (2021-2027)' states that Medtronic, MedRx, Siemens AG, Cochlear Limited, Maico Audiological Services, Natus Medical Incorporated, GN Resound
Health Tech platforms have gained traction with the increasing prevalence of cus …
Key Findings UAE Health Tech is being driven by rising prevalence of lifestyle diseases (for example, diabetes or obesity) and an increased awareness of preventive care along with Rise in demand for specialized care like that for oncological and cardiovascular diseases in the UAE coupled with rise the in elderly population. The UAE Health Tech Market is expected to grow at a double digit CAGR from 2018 to 2021P. HealthCare IT Systems contributes
More Releases for Electric
Electric Motors vehicles
Electric Car Batteries- Reuse and Recycling: There are several advantages to operating an electric vehicle (EV). Electric Vehicles pump fewer CO2 into the environment and less noise pollution in communities. When competition pushes down battery costs, they are also becoming more available to middle- and low-income consumers and policymakers are adopting national and local policies aimed at promoting EV production. It is extremely relevant when it comes to their batteries, which usually
New Electric Wheelchair
The wheelchair is controlled by a motor. With safety light. Convenient to use at night. Freely adjusting the backrest angle is more comfortable for the user. The average driving speed is 1-6km/h. The marketplace was wholly developed by the Jiangsu Medwish Network Technology Co., Ltd., a private corporation based in Jiangsu, China. Through substantial previous international B2B e-commerce field experience, Jiangsu Medwish is dedicated to establishing a globally recognized framework and
Global Electric Truck Market
Global Electric Truck Market – Industry Analysis and Forecast (2018-2026) – by Electric, Truck, Application Type and Region. Global Electric Truck Market was valued at US$ XXX Mn in 2017 and is expected to reach US$ XXX Mn by 2026, at a CAGR of XX% during a forecast period. Major driving factors of the Electric Truck Market the trucking industry is in the stages of a technological changes, with a particular focus
India pushes Electric Vehicles
The Indian government’s recent tweaking of the licensing policy for Electric Vehicles (EV) promises to address the infrastructure obstacle holding back the sector. The setting up of EV charging stations by the government would no longer require a license from the Ministry, paving the way for the faster construction of these stations. Earlier this year, Ola – the cab firm – initiated ‘Mission: Electric’ with plans to put 10,000 electric auto-rickshaws and
Folding Electric Bicycle
In this report, the global Folding Electric Bicycle market is valued at USD XX million in 2016 and is expected to reach USD XX million by the end of 2022, growing at a CAGR of XX% between 2016 and 2022. Geographically, this report is segmented into several key Regions, with production, consumption, revenue (million USD), market share and growth rate of Folding Electric Bicycle in these regions, from 2012 to 2022
Global Quartz Heat Lamps Market 2017 : Indu Electric Gerber, Schneider Electric, …
The Market Research Store report offers majority of the latest and newest industry data that covers the overall market situation along with future prospects for Quartz Heat Lamps market around the globe. The research study includes significant data and also forecasts of the global market which makes the research report a helpful resource for marketing people, analysts, industry executives, consultants, sales and product managers, and other people who are in