Asia-Pacific Electric Car Market Segmentation: Growth and Demand Forecast, 2013-2025
Rising environmental awareness and government support are expected to drive the Asia-Pacific electric cars market. Economies in this region are reducing their dependence on costly fossil fuel by promoting electric cars.
Rising environmental awareness and government support are expected to drive the Asia-Pacific electric cars market. Economies in this region are reducing their dependence on costly fossil fuel by promoting electric cars.
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<strong>Asia</strong>-<strong>Pacific</strong> <strong>Electric</strong> <strong>Car</strong> <strong>Market</strong> by Type, Technology, Voltage,<br />
Geography, <strong>Growth</strong> <strong>and</strong> Dem<strong>and</strong> <strong>Forecast</strong>, <strong>2013</strong>–<strong>2025</strong><br />
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<strong>Asia</strong>-<strong>Pacific</strong> <strong>Electric</strong> <strong>Car</strong> <strong>Market</strong><br />
The <strong>Asia</strong>-<strong>Pacific</strong> electric car market is dominated by China with Japan being a distant second. This is followed by<br />
South Korea <strong>and</strong> India. The overall share of electric cars in the total car sales in <strong>Asia</strong>-<strong>Pacific</strong> region is negligible.<br />
Small cars account for a significant share of electric cars market in <strong>Asia</strong>-<strong>Pacific</strong> due to low prices of these cars <strong>and</strong><br />
cost sensitive buying behaviour of customers in this region.<br />
The electric car market in <strong>Asia</strong>-<strong>Pacific</strong> is expected to show a significant growth over the next decade driven by<br />
government support, rising income levels <strong>and</strong> increasing environmental awareness. Current high price of electric<br />
car, underdeveloped infrastructure <strong>and</strong> uncertain political environment are some of the challenges for this<br />
market.<br />
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<strong>Asia</strong>-<strong>Pacific</strong> <strong>Electric</strong> <strong>Car</strong> <strong>Market</strong><br />
Rising environmental awareness <strong>and</strong> government support are expected to drive the <strong>Asia</strong>-<strong>Pacific</strong> electric cars<br />
market. Economies in this region are reducing their dependence on costly fossil fuel by promoting electric cars.<br />
For instance, India plans to replace all cars by electric ones by 2030. China is offering considerable subsidy on<br />
electric cars depending upon the battery size. Rising environmental awareness among people is also benefiting<br />
the sales of these cars in <strong>Asia</strong>-<strong>Pacific</strong>.<br />
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<strong>Asia</strong>-<strong>Pacific</strong> <strong>Electric</strong> <strong>Car</strong> <strong>Market</strong><br />
A considerable number of players are operating in the <strong>Asia</strong>-<strong>Pacific</strong> electric car market. These players can be<br />
broadly divided into two categories. The local Chinese players (such as BYD, BAIC <strong>and</strong> Dongfen) whose sales are<br />
mostly restricted to China <strong>and</strong> the global international companies (such as Nissan <strong>and</strong> General Motors) which<br />
are present in the many countries in the region including China. Due to the dominance of China in total sales,<br />
the local Chinese manufacturers together constitute a considerable share in the global sales.<br />
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