The Asia Pacific Light Electric Vehicles Market would witness market growth of 9.1% CAGR during the forecast period (2022-2028).
The design of the light electric vehicle consists of two front wheels and one rear wheel. To increase transmission efficiency and torque, a hub motor is put on the rear wheel to drive the vehicle directly without a gear-reduction device. The hub motor is a brushless outer rotor direct current (DC) motor that depicts the electrical structure of the power system, which is comprised mostly of the battery, inverter, hub motor, etc.
It employs a lithium battery with a high energy density as the electric vehicle's energy source. The motor inverter uses a commercially available driver and determines the output power of the hub motor directly via the accelerator pedal (ACCP). To meet the electrical safety standards of an electric vehicle, a comprehensive management strategy for battery safety issues must be established.
To successfully protect drivers' lives and property, real-time diagnostic of high and low voltage protection, short circuit faults, etc. is essential to make the right judgments and automatically conduct effective protective actions before or when power system problems occur. In the design of the emergency protective measures, the power supply of the vehicle's electrical system is controlled by a no-fuse switch (NFS).
The transportation industry in India is quite robust, yet the demand for fuels exceeds its supply by a wide margin. According to the Indian Bureau of energy efficiency, 18% of India's total energy is consumed by the transportation sector. This is equivalent to around 94 million tonnes of energy. If India maintained its current energy consumption habits, it would require an estimated 200 MTOE of annual energy supply to meet the demand of this industry by 2030. Since imported crude oil now meets the majority of this industry's needs, it is especially subject to variations in crude oil prices.
The China market dominated the Asia Pacific Light Electric Vehicles Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $19,989.7 million by 2028. The Japan market is estimated to grow a CAGR of 8.4% during (2022 - 2028). Additionally, The Taiwan market would experience a CAGR of 10.1% during (2022 - 2028).
Based on Vehicle Category, the market is segmented into 2-wheelers, 3-wheelers, and 4-wheelers. Based on Vehicle Type, the market is segmented into e-scooter, e-ATV/UTV, Neighborhood Electric Vehicle, e-bike & Motorcycle, e-lawn Mower, Autonomous Forklifts, Delivery Robots & Electric Industrial Vehicle, and Others. Based on Component Type, the market is segmented into Battery Pack, Electric Motor, Motor Controller & Power Controller, Inverters, and e-brake Booster & Power Electronics. Based on Application, the market is segmented into Personal Mobility, Shared Mobility, Recreation & Sports, and Commercial. Based on Power Output, the market is segmented into Less than 6 kW, 6-9 kW, and 9-15 kW. Based on countries, the market is segmented into China, Japan, Taiwan, India, South Korea, Singapore, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Light Electric Vehicles Market is Projected to reach USD 130.4 Billion by 2028, at a CAGR of 8.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Tesla, Inc., BMW Group, Columbia Vehicle Group Inc. (Nordic Group of Companies, Ltd.), Godrej Group (Godrej Material Handling), Kion Group, Yamaha Motor Co., Ltd., Textron, Inc., Polaris, Inc., BYD Company Ltd., and Toyota Industries Corporation.
Scope of the Study
Market Segments Covered in the Report:
By Vehicle Category
- 2-wheelers
- 3-wheelers
- 4-wheelers
By Vehicle Type
- e-scooter
- e-ATV/UTV
- Neighborhood Electric Vehicle
- e-bike & Motorcycle
- e-lawn Mower
- Autonomous Forklifts, Delivery Robots & Electric Industrial Vehicle
- Others
By Component Type
- Battery Pack
- Electric Motor
- Motor Controller & Power Controller
- Inverters
- e-brake Booster & Power Electronics
By Application
- Personal Mobility
- Shared Mobility
- Recreation & Sports
- Commercial
By Power Output
- Less than 6 kW
- 6-9 kW
- 9-15 kW
By Country
- China
- Japan
- India
- South Korea
- Singapore
- Taiwan
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Tesla, Inc.
- BMW Group
- Columbia Vehicle Group Inc. (Nordic Group of Companies, Ltd.)
- Godrej Group (Godrej Material Handling)
- Kion Group
- Yamaha Motor Co., Ltd.
- Textron, Inc.
- Polaris, Inc.
- BYD Company Ltd.
- Toyota Industries Corporation
TABLE 1 Asia Pacific Light Electric Vehicles Market, 2018 - 2021, USD Million
TABLE 2 Asia Pacific Light Electric Vehicles Market, 2022 - 2028, USD Million
TABLE 3 Partnerships, Collaborations and Agreements– Light Electric Vehicles Market
TABLE 4 Product Launches And Product Expansions– Light Electric Vehicles Market
TABLE 5 Asia Pacific Light Electric Vehicles Market by Vehicle Category, 2018 - 2021, USD Million
TABLE 6 Asia Pacific Light Electric Vehicles Market by Vehicle Category, 2022 - 2028, USD Million
TABLE 7 Asia Pacific 2-wheelers Market by Country, 2018 - 2021, USD Million
TABLE 8 Asia Pacific 2-wheelers Market by Country, 2022 - 2028, USD Million
TABLE 9 Asia Pacific 3-wheelers Market by Country, 2018 - 2021, USD Million
TABLE 10 Asia Pacific 3-wheelers Market by Country, 2022 - 2028, USD Million
TABLE 11 Asia Pacific 4-wheelers Market by Country, 2018 - 2021, USD Million
TABLE 12 Asia Pacific 4-wheelers Market by Country, 2022 - 2028, USD Million
TABLE 13 Asia Pacific Light Electric Vehicles Market by Vehicle Type, 2018 - 2021, USD Million
TABLE 14 Asia Pacific Light Electric Vehicles Market by Vehicle Type, 2022 - 2028, USD Million
TABLE 15 Asia Pacific e-scooter Market by Country, 2018 - 2021, USD Million
TABLE 16 Asia Pacific e-scooter Market by Country, 2022 - 2028, USD Million
TABLE 17 Asia Pacific e-ATV/UTV Market by Country, 2018 - 2021, USD Million
TABLE 18 Asia Pacific e-ATV/UTV Market by Country, 2022 - 2028, USD Million
TABLE 19 Asia Pacific Neighborhood Electric Vehicle Market by Country, 2018 - 2021, USD Million
TABLE 20 Asia Pacific Neighborhood Electric Vehicle Market by Country, 2022 - 2028, USD Million
TABLE 21 Asia Pacific e-bike & Motorcycle Market by Country, 2018 - 2021, USD Million
TABLE 22 Asia Pacific e-bike & Motorcycle Market by Country, 2022 - 2028, USD Million
TABLE 23 Asia Pacific e-lawn Mower Market by Country, 2018 - 2021, USD Million
TABLE 24 Asia Pacific e-lawn Mower Market by Country, 2022 - 2028, USD Million
TABLE 25 Asia Pacific Autonomous Forklifts, Delivery Robots & Electric Industrial Vehicle Market by Country, 2018 - 2021, USD Million
TABLE 26 Asia Pacific Autonomous Forklifts, Delivery Robots & Electric Industrial Vehicle Market by Country, 2022 - 2028, USD Million
TABLE 27 Asia Pacific Others Market by Country, 2018 - 2021, USD Million
TABLE 28 Asia Pacific Others Market by Country, 2022 - 2028, USD Million
TABLE 29 Asia Pacific Light Electric Vehicles Market by Component Type, 2018 - 2021, USD Million
TABLE 30 Asia Pacific Light Electric Vehicles Market by Component Type, 2022 - 2028, USD Million
TABLE 31 Asia Pacific Battery Pack Market by Country, 2018 - 2021, USD Million
TABLE 32 Asia Pacific Battery Pack Market by Country, 2022 - 2028, USD Million
TABLE 33 Asia Pacific Electric Motor Market by Country, 2018 - 2021, USD Million
TABLE 34 Asia Pacific Electric Motor Market by Country, 2022 - 2028, USD Million
TABLE 35 Asia Pacific Motor Controller & Power Controller Market by Country, 2018 - 2021, USD Million
TABLE 36 Asia Pacific Motor Controller & Power Controller Market by Country, 2022 - 2028, USD Million
TABLE 37 Asia Pacific Inverters Market by Country, 2018 - 2021, USD Million
TABLE 38 Asia Pacific Inverters Market by Country, 2022 - 2028, USD Million
TABLE 39 Asia Pacific e-brake Booster & Power Electronics Market by Country, 2018 - 2021, USD Million
TABLE 40 Asia Pacific e-brake Booster & Power Electronics Market by Country, 2022 - 2028, USD Million
TABLE 41 Asia Pacific Light Electric Vehicles Market by Application, 2018 - 2021, USD Million
TABLE 42 Asia Pacific Light Electric Vehicles Market by Application, 2022 - 2028, USD Million
TABLE 43 Asia Pacific Personal Mobility Market by Country, 2018 - 2021, USD Million
TABLE 44 Asia Pacific Personal Mobility Market by Country, 2022 - 2028, USD Million
TABLE 45 Asia Pacific Shared Mobility Market by Country, 2018 - 2021, USD Million
TABLE 46 Asia Pacific Shared Mobility Market by Country, 2022 - 2028, USD Million
TABLE 47 Asia Pacific Recreation & Sports Market by Country, 2018 - 2021, USD Million
TABLE 48 Asia Pacific Recreation & Sports Market by Country, 2022 - 2028, USD Million
TABLE 49 Asia Pacific Commercial Market by Country, 2018 - 2021, USD Million
TABLE 50 Asia Pacific Commercial Market by Country, 2022 - 2028, USD Million
TABLE 51 Asia Pacific Light Electric Vehicles Market by Power Output, 2018 - 2021, USD Million
TABLE 52 Asia Pacific Light Electric Vehicles Market by Power Output, 2022 - 2028, USD Million
TABLE 53 Asia Pacific Less than 6 kW Market by Country, 2018 - 2021, USD Million
TABLE 54 Asia Pacific Less than 6 kW Market by Country, 2022 - 2028, USD Million
TABLE 55 Asia Pacific 6-9 kW Market by Country, 2018 - 2021, USD Million
TABLE 56 Asia Pacific 6-9 kW Market by Country, 2022 - 2028, USD Million
TABLE 57 Asia Pacific 9-15 kW Market by Country, 2018 - 2021, USD Million
TABLE 58 Asia Pacific 9-15 kW Market by Country, 2022 - 2028, USD Million
TABLE 59 Asia Pacific Light Electric Vehicles Market by Country, 2018 - 2021, USD Million
TABLE 60 Asia Pacific Light Electric Vehicles Market by Country, 2022 - 2028, USD Million
TABLE 61 China Light Electric Vehicles Market, 2018 - 2021, USD Million
TABLE 62 China Light Electric Vehicles Market, 2022 - 2028, USD Million
TABLE 63 China Light Electric Vehicles Market by Vehicle Category, 2018 - 2021, USD Million
TABLE 64 China Light Electric Vehicles Market by Vehicle Category, 2022 - 2028, USD Million
TABLE 65 China Light Electric Vehicles Market by Vehicle Type, 2018 - 2021, USD Million
TABLE 66 China Light Electric Vehicles Market by Vehicle Type, 2022 - 2028, USD Million
TABLE 67 China Light Electric Vehicles Market by Component Type, 2018 - 2021, USD Million
TABLE 68 China Light Electric Vehicles Market by Component Type, 2022 - 2028, USD Million
TABLE 69 China Light Electric Vehicles Market by Application, 2018 - 2021, USD Million
TABLE 70 China Light Electric Vehicles Market by Application, 2022 - 2028, USD Million
TABLE 71 China Light Electric Vehicles Market by Power Output, 2018 - 2021, USD Million
TABLE 72 China Light Electric Vehicles Market by Power Output, 2022 - 2028, USD Million
TABLE 73 Japan Light Electric Vehicles Market, 2018 - 2021, USD Million
TABLE 74 Japan Light Electric Vehicles Market, 2022 - 2028, USD Million
TABLE 75 Japan Light Electric Vehicles Market by Vehicle Category, 2018 - 2021, USD Million
TABLE 76 Japan Light Electric Vehicles Market by Vehicle Category, 2022 - 2028, USD Million
TABLE 77 Japan Light Electric Vehicles Market by Vehicle Type, 2018 - 2021, USD Million
TABLE 78 Japan Light Electric Vehicles Market by Vehicle Type, 2022 - 2028, USD Million
TABLE 79 Japan Light Electric Vehicles Market by Component Type, 2018 - 2021, USD Million
TABLE 80 Japan Light Electric Vehicles Market by Component Type, 2022 - 2028, USD Million
TABLE 81 Japan Light Electric Vehicles Market by Application, 2018 - 2021, USD Million
TABLE 82 Japan Light Electric Vehicles Market by Application, 2022 - 2028, USD Million
TABLE 83 Japan Light Electric Vehicles Market by Power Output, 2018 - 2021, USD Million
TABLE 84 Japan Light Electric Vehicles Market by Power Output, 2022 - 2028, USD Million
TABLE 85 Taiwan Light Electric Vehicles Market, 2018 - 2021, USD Million
TABLE 86 Taiwan Light Electric Vehicles Market, 2022 - 2028, USD Million
TABLE 87 Taiwan Light Electric Vehicles Market by Vehicle Category, 2018 - 2021, USD Million
TABLE 88 Taiwan Light Electric Vehicles Market by Vehicle Category, 2022 - 2028, USD Million
TABLE 89 Taiwan Light Electric Vehicles Market by Vehicle Type, 2018 - 2021, USD Million
TABLE 90 Taiwan Light Electric Vehicles Market by Vehicle Type, 2022 - 2028, USD Million
TABLE 91 Taiwan Light Electric Vehicles Market by Component Type, 2018 - 2021, USD Million
TABLE 92 Taiwan Light Electric Vehicles Market by Component Type, 2022 - 2028, USD Million
TABLE 93 Taiwan Light Electric Vehicles Market by Application, 2018 - 2021, USD Million
TABLE 94 Taiwan Light Electric Vehicles Market by Application, 2022 - 2028, USD Million
TABLE 95 Taiwan Light Electric Vehicles Market by Power Output, 2018 - 2021, USD Million
TABLE 96 Taiwan Light Electric Vehicles Market by Power Output, 2022 - 2028, USD Million
TABLE 97 India Light Electric Vehicles Market, 2018 - 2021, USD Million
TABLE 98 India Light Electric Vehicles Market, 2022 - 2028, USD Million
TABLE 99 India Light Electric Vehicles Market by Vehicle Category, 2018 - 2021, USD Million
TABLE 100 India Light Electric Vehicles Market by Vehicle Category, 2022 - 2028, USD Million
TABLE 101 India Light Electric Vehicles Market by Vehicle Type, 2018 - 2021, USD Million
TABLE 102 India Light Electric Vehicles Market by Vehicle Type, 2022 - 2028, USD Million
TABLE 103 India Light Electric Vehicles Market by Component Type, 2018 - 2021, USD Million
TABLE 104 India Light Electric Vehicles Market by Component Type, 2022 - 2028, USD Million
TABLE 105 India Light Electric Vehicles Market by Application, 2018 - 2021, USD Million
TABLE 106 India Light Electric Vehicles Market by Application, 2022 - 2028, USD Million
TABLE 107 India Light Electric Vehicles Market by Power Output, 2018 - 2021, USD Million
TABLE 108 India Light Electric Vehicles Market by Power Output, 2022 - 2028, USD Million
TABLE 109 South Korea Light Electric Vehicles Market, 2018 - 2021, USD Million
TABLE 110 South Korea Light Electric Vehicles Market, 2022 - 2028, USD Million
TABLE 111 South Korea Light Electric Vehicles Market by Vehicle Category, 2018 - 2021, USD Million
TABLE 112 South Korea Light Electric Vehicles Market by Vehicle Category, 2022 - 2028, USD Million
TABLE 113 South Korea Light Electric Vehicles Market by Vehicle Type, 2018 - 2021, USD Million
TABLE 114 South Korea Light Electric Vehicles Market by Vehicle Type, 2022 - 2028, USD Million
TABLE 115 South Korea Light Electric Vehicles Market by Component Type, 2018 - 2021, USD Million
TABLE 116 South Korea Light Electric Vehicles Market by Component Type, 2022 - 2028, USD Million
TABLE 117 South Korea Light Electric Vehicles Market by Application, 2018 - 2021, USD Million
TABLE 118 South Korea Light Electric Vehicles Market by Application, 2022 - 2028, USD Million
TABLE 119 South Korea Light Electric Vehicles Market by Power Output, 2018 - 2021, USD Million
TABLE 120 South Korea Light Electric Vehicles Market by Power Output, 2022 - 2028, USD Million
TABLE 121 Singapore Light Electric Vehicles Market, 2018 - 2021, USD Million
TABLE 122 Singapore Light Electric Vehicles Market, 2022 - 2028, USD Million
TABLE 123 Singapore Light Electric Vehicles Market by Vehicle Category, 2018 - 2021, USD Million
TABLE 124 Singapore Light Electric Vehicles Market by Vehicle Category, 2022 - 2028, USD Million
TABLE 125 Singapore Light Electric Vehicles Market by Vehicle Type, 2018 - 2021, USD Million
TABLE 126 Singapore Light Electric Vehicles Market by Vehicle Type, 2022 - 2028, USD Million
TABLE 127 Singapore Light Electric Vehicles Market by Component Type, 2018 - 2021, USD Million
TABLE 128 Singapore Light Electric Vehicles Market by Component Type, 2022 - 2028, USD Million
TABLE 129 Singapore Light Electric Vehicles Market by Application, 2018 - 2021, USD Million
TABLE 130 Singapore Light Electric Vehicles Market by Application, 2022 - 2028, USD Million
TABLE 131 Singapore Light Electric Vehicles Market by Power Output, 2018 - 2021, USD Million
TABLE 132 Singapore Light Electric Vehicles Market by Power Output, 2022 - 2028, USD Million
TABLE 133 Rest of Asia Pacific Light Electric Vehicles Market, 2018 - 2021, USD Million
TABLE 134 Rest of Asia Pacific Light Electric Vehicles Market, 2022 - 2028, USD Million
TABLE 135 Rest of Asia Pacific Light Electric Vehicles Market by Vehicle Category, 2018 - 2021, USD Million
TABLE 136 Rest of Asia Pacific Light Electric Vehicles Market by Vehicle Category, 2022 - 2028, USD Million
TABLE 137 Rest of Asia Pacific Light Electric Vehicles Market by Vehicle Type, 2018 - 2021, USD Million
TABLE 138 Rest of Asia Pacific Light Electric Vehicles Market by Vehicle Type, 2022 - 2028, USD Million
TABLE 139 Rest of Asia Pacific Light Electric Vehicles Market by Component Type, 2018 - 2021, USD Million
TABLE 140 Rest of Asia Pacific Light Electric Vehicles Market by Component Type, 2022 - 2028, USD Million
TABLE 141 Rest of Asia Pacific Light Electric Vehicles Market by Application, 2018 - 2021, USD Million
TABLE 142 Rest of Asia Pacific Light Electric Vehicles Market by Application, 2022 - 2028, USD Million
TABLE 143 Rest of Asia Pacific Light Electric Vehicles Market by Power Output, 2018 - 2021, USD Million
TABLE 144 Rest of Asia Pacific Light Electric Vehicles Market by Power Output, 2022 - 2028, USD Million
TABLE 145 key Information – Tesla, Inc.
TABLE 146 key information – BMW Group
TABLE 147 Key Information – Columbia Vehicle Group Inc.
TABLE 148 Key Information – Godrej Group
TABLE 149 Key Information – Kion Group
TABLE 150 Key Information – Yamaha Motor Co., Ltd.
TABLE 151 Key information – Textron, Inc.
TABLE 152 Key information – Polaris, Inc.
TABLE 153 key Information – BYD Company Ltd.
TABLE 154 Key Information – Toyota Industries Corporation
List of Figures
FIG 1 Methodology for the research
FIG 2 KBV Cardinal Matrix
FIG 3 Key Leading Strategies: Percentage Distribution (2018-2022)
FIG 4 Key Strategic Move: (Partnerships, Collaborations & Agreements: 2020, Sep – 2022, Aug) Leading Players
FIG 5 SWOT ANALYSIS: TESLA, INC.
FIG 6 Recent strategies and developments: BMW Group
FIG 7 SWOT ANALYSIS: BMW GROUP
FIG 8 Recent strategies and developments: Yamaha Motor Co., Ltd.
FIG 9 Recent strategies and developments: Polaris, Inc.
FIG 10 Recent strategies and developments: BYD Company Ltd.
FIG 11 Recent strategies and developments: Toyota Industries Corporation