Asia Pacific Electric Vehicle Market
Market Size in USD Billion
CAGR :
% 
USD
101.81 Billion
USD
576.45 Billion
2021
2029
 Forecast Period |
2022 –2029 |
 Market Size (Base Year) |
USD 101.81 Billion |
 Market Size (Forecast Year) |
USD 576.45 Billion |
 CAGR |
% |
| Major Markets Players |
Asia-Pacific Electric Vehicle Market, By Component (Battery Cells & Packs, On-Board Charger, Infotainment System, Others), Propulsion Type {(Plug-In Hybrid Electric Vehicles (PHEVs), Battery Electric Vehicles (BEVs), hybrid electric vehicles (HEVs), and fuel cell electric vehicles (FCEVs)}, Charging Station Type (Normal Charging, Super Charging), Class (Mid-Priced, Luxury), Power Train (Parallel Hybrid, Series Hybrid, Combined Hybrid), Vehicle Type (Passenger Cars, Two Wheelers, Commercial Vehicles) – Industry Trends and Forecast to 2029.
Asia-Pacific Electric Vehicle Market Analysis and Size
In recent years, electric vehicles have been used to replace traditional modes of transportation in order to reduce pollution. It has grown in importance as a result of technological advancements such as low carbon emission and maintenance, smoother driving, reduced engine noise, and higher fuel economy.
Data Bridge Market Research analyses that the electric vehicle market was valued at USD 101.81 billion in 2021 and is expected to reach the value of USD 576.45 billion by 2029, at a CAGR of 24.20% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Asia-Pacific Electric Vehicle Market Scope and Segmentation
|
Report Metric |
Details |
|
Forecast Period |
2022 to 2029 |
|
Base Year |
2021 |
|
Historic Years |
2020 (Customizable to 2014 - 2019) |
|
Quantitative Units |
Revenue in USD Billion, Volumes in Units, Pricing in USD |
|
Segments Covered |
Component (Battery Cells & Packs, On-Board Charger, Infotainment System, Others), Propulsion Type {(Plug-In Hybrid Electric Vehicles (PHEVs), Battery Electric Vehicles (BEVs), hybrid electric vehicles (HEVs), and fuel cell electric vehicles (FCEVs)}, Charging Station Type (Normal Charging, Super Charging), Class (Mid-Priced, Luxury), Power Train (Parallel Hybrid, Series Hybrid, Combined Hybrid), Vehicle Type (Passenger Cars, Two Wheelers, Commercial Vehicles), |
|
Countries Covered |
China, India, Japan, South Korea, Australia, Singapore, Indonesia, Thailand, Malaysia, Philippines and Rest of Asia-Pacific |
|
Market Players Covered |
Ford Motor Company (U.S.), General Motors (U.S.), AUDI AG (Germany), Kia Motors Corporation (South Korea), Groupe Renault (France), Groupe PSA (France), SAIC Motor Corporation Limited (China), Tesla (U.S.), Daimler AG (Germany), BMW AG (Germany), Hyundai Motor Company (South Korea), BYD Company Ltd. (China), Continental AG (Germany), TOYOTA MOTOR CORPORATION (Japan), Nissan Motor Co., LTD. (Japan), Volkswagen AG (Germany), AB Volvo (Sweden), Honda Motor Co., Ltd. (Japan), among others |
|
Market Opportunities |
|
Market Definition
A vehicle propelled by one or more electric motors is known as an electric vehicle (EV). It can be powered by a collection system, extravehicular sources of electricity, or a self-contained battery (sometimes charged by solar panels, or by converting fuel to electricity using fuel cells or a generator). Electric vehicles have several advantages over conventional fuel-powered vehicles, including low operating costs, zero carbon emissions, and others because they are powered by electricity. Consumers' changing attitudes toward electric vehicles are boosting market growth as they become more concerned about environmental pollution.
Drivers
- Favourable government policies and investments
Governments around the world are increasing their investments in electric mobility. Government regulations to phase out fossil-fuel-powered vehicles, government investments to improve public EV charging infrastructure, and initiatives in the form of subsidies and tax rebates to encourage EV adoption are expected to support market growth. Governments are investing in charging infrastructure, either directly in public charging stations or indirectly through subsidies for private charging stations at homes and workplaces.
- Growth in vehicle sales globally
One of the major factors driving the growth of the electric vehicle market is the increase in EV sales around the world. Due to the rising environmental consciousness, consumer preference is rapidly shifting toward passenger and commercial electric vehicles (EV). The increase in production and sales of luxury cars around the world as a result of rising disposable income accelerates market growth. The increased demand for these improved vehicles drives up vehicle production.
Opportunities
- High adoption from transportation sector
High demand for electric vehicles in the automotive and transportation sectors creates profitable opportunities for market participants from 2022 to 2029. Furthermore, government initiatives pertaining to EVs will accelerate the growth of the electric vehicle market.
Restraints
- High initial investments will challenge the growth
The high initial investment required to install EV fast charging infrastructure, as well as a lack of sufficient EV charging infrastructure, are expected to stymie market growth. Furthermore, high vehicle costs and insufficient standardisation of EV charging infrastructure are expected to be challenges for the electric vehicle market during the forecast period.
This electric vehicle market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the electric vehicle market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Electric Vehicle Market
The COVID-19 had a negative impact on the electric vehicle market due to the strict lockdowns and social distancing implemented to contain the virus's spread. Economic uncertainty, a partial business shutdown, and low consumer confidence all had an impact on the demand for electric vehicles. During the pandemic, the supply chain was hampered, as were logistics activities. However, due to the relaxation of restrictions, the electric vehicle market is expected to pick up speed in the post-pandemic scenario.
Recent Development
- In April 2021, BYD launched four new electric vehicle models equipped with Blade batteries in Chongqing. The new vehicle models with advanced battery safety features are the Qin plus EV, E2 2021, Tang EV, and Song plus EV.
- In April 2021 Volkswagen debuted the 7-seater EV ID.6 Crozz and ID.6 X in China, alongside FAW and SAIC. The vehicles are available in two battery sizes, 58 kWh and 77 kWh, as well as four powertrain configurations.
Asia-Pacific Electric Vehicle Market Scope
The electric vehicle market is segmented on the basis of component, propulsion type, charging station type, class, power train, and vehicle type. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Component
- Battery Cells & Packs
- On-Board Charger
- Infotainment System
- Others
Propulsion Type
- Plug-In Hybrid Electric Vehicles (PHEVs)
- Battery Electric Vehicles (BEVs)
- Hybrid electric vehicles (HEVs)
- Fuel cell electric vehicles (FCEVs)
Charging station type
- Normal Charging
- Super Charging
Class
- Mid-Priced
- Luxury
Power train
- Parallel Hybrid
- Series Hybrid
- Combined Hybrid
Vehicle Type
- Passenger Cars
- Two Wheelers
- Commercial Vehicles
Electric Vehicle Market Regional Analysis/Insights
The electric vehicle market is analysed and market size insights and trends are provided by country of 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, India, Japan, South Korea, Australia, Singapore, Indonesia, Thailand, Malaysia, Philippines and Rest of Asia-Pacific.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Asia-Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Electric Vehicle Market Share Analysis
The 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, 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 electric vehicle market.
Some of the major players operating in the electric vehicle market are:
- Ford Motor Company (U.S.)
- General Motors (U.S.)
- AUDI AG (Germany)
- Kia Motors Corporation (South Korea)
- Groupe Renault (France)
- Groupe PSA (France)
- SAIC Motor Corporation Limited (China)
- Tesla (U.S.)
- Daimler AG (Germany)
- BMW AG (Germany)
- Hyundai Motor Company (South Korea)
- BYD Company Ltd. (China)
- Continental AG (Germany)
- TOYOTA MOTOR CORPORATION (Japan)
- Nissan Motor Co., LTD. (Japan)
- Volkswagen AG (Germany)
- AB Volvo (Sweden)
- Honda Motor Co., Ltd. (Japan)
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Table of Content
1 INTRODUCTION
1.1 OBJECTIVES OF THE STUDY
1.2 MARKET DEFINITION
1.3 OVERVIEW OF ASIA-PACIFIC ELECTRIC VEHICLE MARKET
1.4 CURRENCY AND PRICING
1.5 LIMITATION
1.6 MARKETS COVERED
2 MARKET SEGMENTATION
2.1 KEY TAKEAWAYS
2.2 ARRIVING AT THE ASIA-PACIFIC ELECTRIC VEHICLE MARKET
2.2.1 VENDOR POSITIONING GRID
2.2.2 TECHNOLOGY LIFE LINE CURVE
2.2.3 MARKET GUIDE
2.2.4 BRAND POSITIONING GRID
2.2.5 COMAPANY MARKET SHARE ANALYSIS
2.2.6 MULTIVARIATE MODELLING
2.2.7 TOP TO BOTTOM ANALYSIS
2.2.8 STANDARDS OF MEASUREMENT
2.2.9 VENDOR SHARE ANALYSIS
2.2.10 DATA POINTS FROM KEY PRIMARY INTERVIEWS
2.2.11 DATA POINTS FROM KEY SECONDARY DATABASES
2.3 ASIA-PACIFIC ELECTRIC VEHICLE MARKET: RESEARCH SNAPSHOT
2.4 ASSUMPTIONS
3 MARKET OVERVIEW
3.1 DRIVERS
3.2 RESTRAINTS
3.3 OPPORTUNITIES
3.4 CHALLENGES
4 EXECUTIVE SUMMARY
5 PREMIUM INSIGHTS
5.1 PORTERS FIVE FORCES MODEL
5.2 REGULATORY STANDARDS
5.3 TECHNOLOGICAL ADVANCEMENT
5.3.1 CHARGING TECHNOLOGY
5.3.2 AUTONOMOUS DRIVING
5.3.3 BATTERY TECHNOLOGY
5.4 SUPPLY CHAIN ANALYSIS
5.5 CASE STUDY ANALYSIS
5.6 COMPANY/BRAND COMPARITIVE ANALYSIS
5.7 RAW MATERIAL PRODUCTION COVERAGE
5.8 SCENARIO BASED ON PRODUCT ADOPTION
5.9 CONSUMER BEHAVIOUR PATTERN
5.1 MARKETING STRAGETY OF MAJOR PLAYERS
5.11 GOVERNMENT INCENTIVES TOWARDS ELECTRIC VEHICLE
5.12 TOP SELLING EV MODEL SALES IN 2022
6 ASIA-PACIFIC ELECTRIC VEHICLE MARKET, BY VEHICLE CLASS
6.1 OVERVIEW
6.2 MID-PRICED
6.3 LUXURY
7 MIDDLE-EAST & AFRICA ELECTRIC VEHICLE MARKET, BY VEHICLE DRIVE TYPE
7.1 OVERVIEW
7.2 FWD
7.3 AWD
7.4 RWD
8 ASIA-PACIFIC ELECTRIC VEHICLE MARKET, BY ELECTRIC MOTOR TYPE
8.1 OVERVIEW
8.2 DC MOTORS
8.3 BRUSHLESS DC MOTORS
8.4 PERMANENT MAGNET SYNCHRONOUS MOTORS
8.5 THREE PHASE INDUCTION MOTORS
9 ASIA-PACIFIC ELECTRIC VEHICLE MARKET, BY VEHICLE SPEED
9.1 OVERVIEW
9.2 LESS THAN 100 MPH
9.3 100 TO 125 MPH
9.4 MORE THAN 125 MPH
10 ASIA-PACIFIC ELECTRIC VEHICLE MARKET, BY CHARGING STATION
10.1 OVERVIEW
10.2 NORMAL CHARGING
10.2.1 LEVEL 1
10.2.2 LEVEL 2
10.2.3 LEVEL 3
10.3 SUPER CHARGING
10.3.1 LEVEL 1
10.3.2 LEVEL 2
10.3.3 LEVEL 3
11 ASIA-PACIFIC ELECTRIC VEHICLE MARKET, BY VOLTAGE RANGE
11.1 OVERVIEW
11.2 LESS THAN 48 VOLT
11.3 MORE THAN 48 VOLT
12 ASIA-PACIFIC ELECTRIC VEHICLE MARKET, BY CONNECTIVITY TYPE
12.1 OVERVIEW
12.2 V2X
12.3 V2G
12.4 V2B OR V2H
12.5 V2V
13 ASIA-PACIFIC ELECTRIC VEHICLE MARKET, BY POWER OUTPUT
13.1 OVERVIEW
13.2 LESS THAN 100 KW
13.3 100 TO 250 KW
13.4 MORE THAN 25O KW
14 ASIA-PACIFIC ELECTRIC VEHICLE MARKET, BY BATTERY TYPE
14.1 OVERVIEW
14.2 LITHIUM ION
14.3 LEAD ACID
14.4 SOLID STATE
14.5 NICKEL METAL HYDRIDE
14.6 SODIUM ION BATTERY
15 ASIA-PACIFIC ELECTRIC VEHICLE MARKET, BY BATTERY FORM
15.1 OVERVIEW
15.2 CYLINDRICAL
15.3 POUCH
15.4 PRISMATIC
16 ASIA-PACIFIC ELECTRIC VEHICLE MARKET, BY POWERTRAIN
16.1 OVERVIEW
16.2 PARALLEL HYBRID
16.3 SERIES HYBRID
16.4 COMBINED HYBRID
17 ASIA-PACIFIC ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE
17.1 OVERVIEW
17.2 BATTERY ELECTRIC VEHICLE (BEV)
17.2.1 LESS THAN 100 KW
17.2.2 100 TO 250 KW
17.2.3 MORE THAN 25O KW
17.3 PLUG-IN HYBRID ELECTRIC VEHICLE (PHEV)
17.3.1 LESS THAN 100 KW
17.3.2 100 TO 250 KW
17.3.3 MORE THAN 25O KW
17.4 FUEL CELL ELECTRIC VEHICLE (FCEV)
17.4.1 LESS THAN 100 KW
17.4.2 100 TO 250 KW
17.4.3 MORE THAN 25O KW
17.5 ICE AND MICRO HYBRID VEHICLE
17.5.1 LESS THAN 100 KW
17.5.2 100 TO 250 KW
17.5.3 MORE THAN 25O KW
18 ASIA-PACIFIC ELECTRIC VEHICLE MARKET, BY VEHICLE TYPE
18.1 OVERVIEW
18.2 PASSENGER CARS
18.2.1 HATCHBACK
18.2.2 SEDAN
18.2.3 SUV
18.2.4 COUPE
18.2.5 MUV
18.2.6 SPORT CAR
18.2.7 CONVERTIBLE
18.2.8 OTHERS
18.3 COMMERCIAL VEHICLE
18.3.1 LIGHT COMMERCIAL VEHICLE (LCV)
18.3.1.1. VANS
18.3.1.2. PICK UP TRUCKS
18.3.1.3. MINI BUS
18.3.1.4. OTHERS
18.3.2 HEAVY COMMERCIAL VEHICLE (HCV)
18.3.2.1. BUS
18.3.2.2. TRUCKS
18.4 TWO WHEELER
19 ASIA-PACIFIC ELECTRIC VEHICLE MARKET, BY SALES CHANNEL
19.1 OVERVIEW
19.2 OEM
19.3 AFTERMARKET
20 MIDDLE EAST AFRICA ELECTRIC VEHICLE MARKET, BY COUNTRY
ASIA-PACIFIC ELECTRIC VEHICLE MARKET, (ALL SEGMENTATION PROVIDED ABOVE IS REPRESENTED IN THIS CHAPTER BY COUNTRY)
20.1 ASIA-PACIFIC
20.1.1 JAPAN
20.1.2 CHINA
20.1.3 SOUTH KOREA
20.1.4 INDIA
20.1.5 AUSTRALIA
20.1.6 SINGAPORE
20.1.7 THAILAND
20.1.8 MALAYSIA
20.1.9 INDONESIA
20.1.10 PHILIPPINES
20.1.11 TAIWAN
20.1.12 VIETNAM
20.1.13 NEW ZEALAND
20.1.14 REST OF ASIA PACIFIC
20.2 KEY PRIMARY INSIGHTS: BY MAJOR COUNTRIES
21 ASIA-PACIFIC ELECTRIC VEHICLE MARKET, COMPANY LANDSCAPE
21.1 COMPANY SHARE ANALYSIS: ASIA-PACIFIC
21.2 MERGERS & ACQUISITIONS
21.3 NEW PRODUCT DEVELOPMENT AND APPROVALS
21.4 EXPANSIONS
21.5 REGULATORY CHANGES
21.6 PARTNERSHIP AND OTHER STRATEGIC DEVELOPMENTS
22 ASIA-PACIFIC ELECTRIC VEHICLE MARKET, SWOT & DBMR ANALYSIS
23 ASIA-PACIFIC ELECTRIC VEHICLE MARKET, COMPANY PROFILE
23.1 TESLA
23.1.1 COMPANY SNAPSHOT
23.1.2 REVENUE ANALYSIS
23.1.3 PRODUCT PORTFOLIO
23.1.4 RECENT DEVELOPMENTS
23.2 TOYOTA MOTOR CORPORATION
23.2.1 COMPANY SNAPSHOT
23.2.2 REVENUE ANALYSIS
23.2.3 PRODUCT PORTFOLIO
23.2.4 RECENT DEVELOPMENTS
23.3 FORD MOTOR COMPANY
23.3.1 COMPANY SNAPSHOT
23.3.2 REVENUE ANALYSIS
23.3.3 PRODUCT PORTFOLIO
23.3.4 RECENT DEVELOPMENTS
23.4 VOLKSWAGEN AG
23.4.1 COMPANY SNAPSHOT
23.4.2 REVENUE ANALYSIS
23.4.3 PRODUCT PORTFOLIO
23.4.4 RECENT DEVELOPMENTS
23.5 MERCEDES-BENZ GROUP AG
23.5.1 COMPANY SNAPSHOT
23.5.2 REVENUE ANALYSIS
23.5.3 PRODUCT PORTFOLIO
23.5.4 RECENT DEVELOPMENTS
23.6 ASHOK LEYLAND
23.6.1 COMPANY SNAPSHOT
23.6.2 REVENUE ANALYSIS
23.6.3 PRODUCT PORTFOLIO
23.6.4 RECENT DEVELOPMENTS
23.7 GEELY AUTOMOBILE HOLDINGS LIMITED
23.7.1 COMPANY SNAPSHOT
23.7.2 REVENUE ANALYSIS
23.7.3 PRODUCT PORTFOLIO
23.7.4 RECENT DEVELOPMENTS
23.8 AB VOLVO
23.8.1 COMPANY SNAPSHOT
23.8.2 REVENUE ANALYSIS
23.8.3 PRODUCT PORTFOLIO
23.8.4 RECENT DEVELOPMENTS
23.9 BMW AG
23.9.1 COMPANY SNAPSHOT
23.9.2 REVENUE ANALYSIS
23.9.3 PRODUCT PORTFOLIO
23.9.4 RECENT DEVELOPMENTS
23.1 HYUNDAI MOTOR COMPANY
23.10.1 COMPANY SNAPSHOT
23.10.2 REVENUE ANALYSIS
23.10.3 PRODUCT PORTFOLIO
23.10.4 RECENT DEVELOPMENTS
23.11 BYD MOTORS INC.
23.11.1 COMPANY SNAPSHOT
23.11.2 REVENUE ANALYSIS
23.11.3 PRODUCT PORTFOLIO
23.11.4 RECENT DEVELOPMENTS
23.12 NISSAN MOTOR CO., LTD.
23.12.1 COMPANY SNAPSHOT
23.12.2 REVENUE ANALYSIS
23.12.3 PRODUCT PORTFOLIO
23.12.4 RECENT DEVELOPMENTS
23.13 MITSUBISHI MOTORS CORPORATION
23.13.1 COMPANY SNAPSHOT
23.13.2 REVENUE ANALYSIS
23.13.3 PRODUCT PORTFOLIO
23.13.4 RECENT DEVELOPMENTS
23.14 MAHINDRA ELECTRIC MOBILITY LIMITED
23.14.1 COMPANY SNAPSHOT
23.14.2 REVENUE ANALYSIS
23.14.3 PRODUCT PORTFOLIO
23.14.4 RECENT DEVELOPMENTS
23.15 TATA MOTORS
23.15.1 COMPANY SNAPSHOT
23.15.2 REVENUE ANALYSIS
23.15.3 PRODUCT PORTFOLIO
23.15.4 RECENT DEVELOPMENTS
23.16 MG MOTOR
23.16.1 COMPANY SNAPSHOT
23.16.2 REVENUE ANALYSIS
23.16.3 PRODUCT PORTFOLIO
23.16.4 RECENT DEVELOPMENTS
*NOTE: THE COMPANIES PROFILED IS NOT EXHAUSTIVE LIST AND IS AS PER OUR PREVIOUS CLIENT REQUIREMENT. WE PROFILE MORE THAN 100 COMPANIES IN OUR STUDY AND HENCE THE LIST OF COMPANIES CAN BE MODIFIED OR REPLACED ON REQUEST
24 CONCLUSION
25 RELATED REPORTS
26 ABOUT DATA BRIDGE MARKET RESEARCH
Research Methodology
Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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