ASEAN electric car market is at the nascent stage and is estimated to exhibit considerable growth in the near future. ASEAN electric car market is estimated to grow at a CAGR of more than 22.0% during the forecast period. Government subsidies are expected to play a major role in the growth of the market in the region. For instance, in February 2019, the Thailand Board of Investment (BOI) has considered waiving excise tax to 2% from 8% for eligible electric vehicle manufacturers in Thailand to encourage them to produce electric cars. Moreover, a significant investment for the development of the electric vehicle and its equipment can be witnessed in the region. Indonesia is a major source of raw material for the electric battery that is Cobalt and Nickel due to which various companies are planning to start manufacturing EVs in the country. One of the recent instances is Toyota which announced an investment of around $2.0 billion in 2019 to increase the EV production in the country.
Get Free Sample link @ https://www.omrglobal.com/request-sample/asean-electric-car-market
ASEAN electric car market is segmented on the basis of vehicle type, propulsion technology, and battery type. On the basis of vehicle type, the market is further studied into hatchback, sedan, and SUV. On the basis of propulsion technology, the market is sub-segmented into battery-electric cars and plug-in hybrid electric cars. Battery electric cars are expected to show significant growth in the region. On the basis of battery type, the market is sub-segmented into NiMH, Li-Ion, and others. Li-ion battery cars market is projected to cover a major market share during the forecast period. Based on geography, the market is segmented into Indonesia, Thailand, Malaysia, Singapore, and others. Singapore is expected to show a significant market growth rate during the forecast period whereas Thailand and Indonesia are expected to hold a major market share in the near future.
full report of ASEAN Electric Car Market available @ https://www.omrglobal.com/industry-reports/asean-electric-car-market
- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
ASEAN Electric Car Market Report Segment
By Vehicle Type
- Sedan
- Hatchback
- SUV
By Propulsion Technology
- Battery Electric Car
- Plug-in Hybrid Electric Car
By Battery Type
- NiMH
- Li-ion
- Others
ASEAN Electric Car Market Countries Covered
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Asia-Pacific
The Report Covers
- Comprehensive research methodology of the ASEAN Electric Car Market.
- This report also includes a detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the ASEAN Electric Car Market.
- Insights about market determinants which are stimulating the ASEAN Electric Car Market.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
For More Customized Data, Request for Report Customization @ https://www.omrglobal.com/report-customization/asean-electric-car-market
About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. The company also offer Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services through another subsidiary Encanto Technologies.
Media Contact:
Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: info@omrglobal.com
Contact no: +91 780-304-0404
