Japan Electric Vehicle market is estimated to grow at a CAGR of more than 19.0% during the forecast period. The rising need to address future energy requirements is one of the major factors to drive the growth of the market. The EV market is emerging as an integral part of the automotive industry that provides a pathway to achieve a higher level of energy efficiency with a reduced level of pollutant emissions and other greenhouse gases. The growing environmental concerns along with cohesive government initiatives are some other aspects to fuel the market growth in the region. The panel set up by the trade ministry in April 2018 has announced that the Japanese central government aims to have all new cars sold in Japan be electric or hybrid vehicles by 2050.
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The market is segmented on the basis of vehicle type, propulsion technology, and battery type. Based on vehicle type, the market is sub-segmented into commercial vehicles, passenger cars, and two-wheeler. Based on propulsion technology the market is sub-segmented into battery electric vehicle, plug-in hybrid electric vehicle. Based on propulsion technology, the plug-in hybrid electric vehicles are anticipated to showcase considerable growth during the forecast period. Based on battery type, the market is sub-segmented into NiMH, Li-Ion, and others.
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Japan Electric Vehicle Market Segmentation
By Vehicle Type
- Commercial Vehicles
- Passenger Cars
- Two-Wheelers
By Propulsion Technology
- Battery Electric Vehicles
- Plug-in Hybrid Electric Vehicle
By Battery Type
- NiMH
- Li-Ion
- Others
Company Profiles
- Audi AG
- BMW AG
- General Motors Co.
- Honda Motor Co., Ltd.
- Mitsubishi Motors Corp.
- Nissan Motor Co.
- Tesla, Inc.
- Toyota Motor Corp.
- Volkswagen AG
- Suzuki Motor Corp.
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