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><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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