Lucrative Avenues for Growth Come With Increasing EV and Battery Manufacturing Capabilities in Southeast Asia

DUBLIN, Nov. 15, 2022 /PRNewswire/ — The “Asia-Pacific Electric Vehicle Market by Vehicle Type ; Propulsion Type ; Power Output ; End Use, Charging Standard, and Country – Forecasts to 2029” report has been added to  ResearchAndMarkets.com’s providing.

The analysis report supplies an in-depth evaluation of electrical autos market throughout Asia-Pacific and emphasizes the present market sizes, market shares, latest developments, and forecasts until 2029.

The Asia-Pacific electrical autos market is predicted to document a CAGR of 35.0% from 2022-2029, to achieve $ 2,688.23 billion by 2029. By quantity, this market is predicted to develop at a CAGR of 30.3% from 2022 to 2029, to achieve 389.62 million items by 2029.

The progress of this market is attributed to supportive authorities insurance policies and rules, growing investments by main automotive OEMs, and lowering costs of batteries. Increasing adoption of electrical mobility in rising economies and growing EV and battery manufacturing capabilities in Southeast Asia present profitable progress alternatives for this market.

The market is segmented primarily based on car sort, propulsion sort, energy output, charging commonplace, finish use, and nation. The research additionally evaluates trade rivals and analyzes the market on the nation stage.

Based on car sort in 2022, the passenger autos phase is predicted to account for the biggest share of the Asia-Pacific electrical autos market. The giant market share of this phase is attributed to the growing favorable authorities insurance policies and subsidies for selling the adoption of electrical autos, rising consciousness concerning the position of electrical autos in decreasing emissions, growing gas costs, and proactive participation by automotive OEMs in producing electrical passenger autos. However, the sunshine industrial autos (LCVs) phase is projected to develop on the highest CAGR in the course of the forecast interval. The excessive progress is pushed by the rising consciousness concerning the position of electrical autos in decreasing emissions, elevated demand for electrical autos to cut back fleet emissions, and stringent authorities guidelines and rules concerning car emissions.

Based on propulsion sort, in 2022, the battery electrical autos phase is predicted to account for the biggest share of the Asia-Pacific electrical autos market. However, the gas cell electrical autos phase is projected to develop on the highest CAGR in the course of the forecast interval. The excessive progress is especially pushed by the growing demand for autos with low carbon emissions, strict carbon emission norms, a rising emphasis on the adoption of FCEVs because of benefits corresponding to quick refueling, and growing authorities initiatives and investments for advancing gas cell expertise.

Based on energy output, the 100kW to 250 kW phase is projected to develop on the highest CAGR in the course of the forecast interval. The progress of this phase is attributed to the growing adoption of electrical buses and vehicles, primarily for public transportation and freight service purposes. In addition, a number of corporations in Asia-Pacific are introducing new EVs, together with gentle industrial autos corresponding to vans, pick-up vehicles, and buses with superior applied sciences and energy outputs starting from 100kW to 250kW.d Transportation Office (LTO), there have been roughly 7,000 EVs registered for native use in the nation.

Scope of the Report:

Asia-Pacific Electric Vehicles Market, by Vehicle Type

• Passenger Vehicle
• Two-wheeler
• Light Commercial Vehicles
• E-Scooters & Bikes
• Heavy Commercial Vehicles

Asia-Pacific Electric Vehicles Market, by Propulsion Type

• Battery Electric Vehicles
• Hybrid Electric Vehicles
• Pure Hybrid Electric Vehicles
• Plug-In Hybrid Electric Vehicles
• Fuel Cell Electric Vehicles

Asia-Pacific Electric Vehicles Market, by Power Output

• Less Than 100 KW
• 100 KW to 250 KW
• More Than 250 KW

Asia-Pacific Electric Vehicles Market, by End Use

• Private Use
• Commercial Use
• Shared Mobility
• Micromobility
• Public Transport
• Industrial Use

Asia-Pacific Electric Vehicles Market, by Country

• China
• Japan
• South Korea
• India
• Singapore
• Thailand
• Philippines
• Malaysia
• Australia
• New Zealand
• Taiwan

Market Dynamics

Market Drivers

• Supportive Government Policies and Regulations
• Increasing Investments by Leading Automotive OEMs
• Decreasing Battery Prices

Market Restraints

• Lack Of Charging Infrastructure in Developing Countries

Market Opportunities

• Rising Adoption of Electric Mobility in Emerging Economies
• Increasing EV and Battery Manufacturing Capabilities in Southeast Asia

Market Challenges

• High Prices of Electric Vehicles
• Range Limitations of Electric Vehicles

Key Topics Covered:

1. Introduction

2. Research Methodology

3. Executive Summary

4. The Impact of COVID-19

5. Market Insights

6. Asia Pacific Electric Vehicles Market, by Vehicle Type

7. Asia Pacific Electric Vehicles Market, by Propulsion Type

8. Asia Pacific Electric Vehicles Market, By Power Output

9. Asia Pacific Electric Vehicles Market, By End Use

10. Asia Pacific Electric Vehicles Market, by Charging Standard

11. Asia Pacific Electric Vehicles Market, by Geography

12. Competitive Landscape

13. Company Profiles (Business Overview, Financial Overview, Product Offerings, Strategic Developments)

14. Appendix

Companies Mentioned

• TATA Motors Limited
• BYD Company Ltd.
• Honda Motor Co. Ltd.
• Nissan Motor Co. Ltd.
• Hyundai Motor Company
• Yamaha Motor Co. Ltd.
• Hero MotoCorp Ltd.
• Ather Energy Pvt. Ltd.
• Geely Automobile Holdings Limited
• XPeng Inc.

For extra details about this report go to https://www.researchandmarkets.com/r/41p0r

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