The Asia Pacific Electric Mobility Market would witness market growth of 25.8% CAGR during the forecast period (2019-2025). The Asia Pacific region accounted for a significant share in the e-mobility market in 2018. This is partly due to the presence in countries like Japan and China of some of the leading producers of EVs. In addition, numerous countries in the region are going to outlaw the sales of internal combustion engines and have set goals over the coming years. They are doing so to promote the uptake of cleaner vehicles to achieve a certain share of electric vehicles in their vehicle fleet over the forecast period. For example, as part of its second phase of the Faster Adoption and Manufacture of (Hybrid and) Electric Vehicles (FAME II) scheme, the Indian government has decided to increase financial support for electric vehicles.
In addition to subsidies or tax benefits for consumers and vehicle manufacturers, governments in different countries are working to stimulate the adoption of EVs by investing in the development of charging infrastructure for EVs. For example, India's government recently announced e-vehicle purchase tax benefits to accelerate the country's adoption of e-vehicles. Similar to various countries across the globe, the Indian government is also in the process of implementing regulations aimed at phasing out internal combustion engine vehicles and significantly reducing the production volume of such vehicles by 2030. This would further enhance the growth potential of the e-mobility market.
Based on Battery Type, the market is segmented into Li-ion, NiMH and Sealed Lead Acid. Based on Voltage, the market is segmented into 24V, Greater than 48V, 48V, 36V and Others. Based on Product Type, the market is segmented into Electric Car, Electric Scooter & Motorcycle, Electric Bicycle, Electric Skateboard and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Taiwan, and Rest of Asia Pacific.
Free Valuable Insights: Electric Mobility Market in Asia Pacific is expected to register a CAGR of 25.8% during the forecast period (2019-2025)
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Ford Motors Co. Ltd., Volvo Group, BMW Group, General Motors Co., Volkswagen AG, BYD Company Ltd., Tesla, Inc., Honda Motor Co. Ltd., Toyota Motor Corporation, Nissan Motor Corporation and Hyundai Motor Company.
Market Segmentation:
By Battery Type
By Voltage
By Product Type
By Country
Companies Profiled
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