The Japan electric car market is projected to grow at a significant CAGR during the forecast period (2019-2025). The market growth is attributed to the supporting government policies. The government has planned to phase out gasoline-powered electric cars by mid-2030, which will ultimately drive the electric car industry in Japan.
Moreover, the government’s plan to double the EV subsidy will further drive the market growth. For instance, in November 2020, the Japanese government has announced to double its subsidies for battery-electric vehicles as part of a supplementary budget for 2020. The maximum amount per BEV is to be raised from 400,000 yen ($3,828) to 800,000 yen ($7,656). The required prior condition to avail subsidy is that the vehicles are to be charged exclusively with electricity from renewable energy.
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A full report of Japan Electric Car Market is available at: https://www.omrglobal.com/industry-reports/japan-electric-car-market
Market Coverage
- Market number available for – 2018-2025
- Base year- 2019
- Forecast period- 2019-2025
- Segment Covered- By Vehicle Type, By Propulsion Technology, By Battery Type
- Regions Covered- Japan
- Competitive Landscape- Audi AG, BMW AG, General Motors Co., Honda Motor Co., Ltd., Hyundai Motor Co., Mitsubishi Motors Corp., Nissan Motor Co., Tesla, Inc., Toyota Motor Corp., and Volkswagen AG.
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Key questions addressed by the report
- What is the market growth rate?
- Which segment dominates the market in the base year?
- Which segment will project the fastest growth in the market?
- How COVID-19 impacted the market?
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Japan Electric Car Market Report Segment
By Vehicle Type
- Hatchback
- Sedan
- SUV
By Propulsion Technology
- Battery Electric Car
- Plug-in Hybrid Electric Car
By Battery Type
- NiMH
- Li-ion
- Others
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
