Press release
Japan Electric Vehicle Market is expected to reach USD 123.75 Bn by 2027, at a CAGR of 40.35% during the forecast period
Japan Electric Vehicle Market
Electric cars experienced a breakthrough year in 2019, despite concerns about their future. The global market share of electric vehicles reached 2.2% during the first 10 months of the year, with automakers committing a substantial $225 billion towards electrification. Japan, in particular, witnessed an increasing demand for green transportation options, driven by growing public awareness of the environmental impact of traditional vehicles.
However, the Japanese plug-in electric car market is still in its nascent stage. In 2019, sales declined by 17% compared to the previous year, reaching a market share of just 0.8%. Despite this, leading Japanese automakers such as Toyota and Honda are now ready to embrace the EV revolution, signaling a shift in their approach.
The report employs a robust research methodology to provide accurate and insightful analysis of the Japan Electric Car Market. The research process includes data collection from primary and secondary sources, industry experts' interviews, and rigorous data validation. The data is analyzed using advanced statistical tools and techniques, ensuring the reliability and validity of the findings.
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What are Japan Electric Vehicle Market Dynamics?
The report identifies several drivers propelling the growth of the Japan Electric Car Market, including increasing public awareness of environmental issues, government initiatives promoting electric mobility, and technological advancements in battery technology. However, there are also restraints to consider, such as high initial costs, limited charging infrastructure, and range anxiety among consumers.
What are Japan Electric Vehicle Market regional insights:
The report offers comprehensive regional insights into the Japan Electric Car Market, highlighting key trends and growth opportunities in different geographical areas. It covers market dynamics, market size projections, and competitive analysis, enabling stakeholders to make informed business decisions.
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What is Japan Electric Vehicle Market Segmentation?
By Technology
• BEV
• PHEV
• HEV
By Product
• Hatchback
• Sedan
• SUV
• Others
By Battery
• LFP
• Li-NMC
• Others
By Battery Capacity
• >201 Ah
•
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Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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