Asia Light Electric Vehicle Market: Market Segments: By Vehicle Type (Two-wheeler, Passenger Cars & Commercial Vehicles); By Propulsion (Hybrid Electric Vehicle (HEV), Plug-in Hybrid Electric Vehicle (PHEV) and Battery Electric Vehicle (BEV); By Voltage (24V, 36V, 48V, 60V, 72V) and Region – Analysis of Market Size, Share & Trends for 2014 – 2019 and Forecasts to 2030
In the years ahead, electric vehicles are becoming an increasingly common sight, and now cities have even more radical zero-emission mobility targets. Compared to conventional heavy vehicles with internal combustion engines, light electric vehicles operate on electricity instead of light vehicles operating on an electric motor that needs a constant supply of battery energy.
Asia Light Electric Vehicle Market is expected to project a notable CAGR of XX.X% in 2030.
Asia Light Electric Vehicle Market to surpass USD XXXX million by 2030 from USD XXXX million in 2018 at a CAGR of XX% throughout the forecast period, i.e. 2019-30. Due to the rise in demand for fuel-efficient, high-performance and low-emission vehicles, the industry has seen substantial demand for goods along with strict government restrictions and regulations on vehicle emissions, complementing the growth of the electric vehicle market.
Asia Light Vehicle Market: Segments
Passenger Car vehicle segment to grow with the highest CAGR of XX.X% during 2019-30
Asia Light Vehicle market is segmented by vehicle type into Two-wheeler, Passenger Cars & Commercial Vehicles. The two-wheelers vehicle type has held the largest share in the Asian light electric vehicle market owing to the congestion in traffic of major cities or urban areas hence, two-wheeler is mostly preferred by consumers, and with the shifting trend to electric vehicles consumers are rapidly adopting electric two-wheelers.
Asia Light Vehicle Market: Market Dynamics
Favorable regulations, policies and subsidies
Strict CO2 emission standards have been formulated by the governments of different countries that have raised the market for electric vehicles. In order to replace the petroleum-based car fleet with electric vehicles, governments are also offering incentives and subsidies to promote EV sales in Asian countries.
Lack of standardization of charging infrastructure
The major challenges faced by the light electric vehicle industry are high cost of battery manufacturing, lack of charging infrastructure and competition from high-performance gasoline-driven vehicles. The market for traditional vehicles is largely focused on their performance.
Asia Light Vehicle Market: Regions
Asia Light Electric Vehicle market is segmented based on regional analysis into five major regions. These include China, India, Indonesia, Malaysia, Thailand and Rest of Asia.
Asia Light Electric Vehicle market in China held the largest market share of XX.X% in the year 2018. The growth of the light electric vehicle market has led to favorable government legislation, the involvement of a large number of local players and growing investment in the production of battery technology in the area. The Asia-Pacific region is also expected to expand with high CAGRs over the forecast period, driven primarily by rising demand for electric scooters in the region.
Asia Light Electric Vehicle Market: Key Players
• Electrotherm India Ltd.
o Company Overview
o Business Strategy
o Key Product Offerings
o Financial Performance
o Key Performance Indicators
o Risk Analysis
o Recent Development
o Regional Presence
o SWOT Analysis
• Clean Motion AB
• AIMA Technology co., Ltd.
• Ningbo MYWAY Intelligent Technology Co. Ltd.
• Changzhou Yufeng Vehicle Co. Ltd.
• Zhejiang Luyuan Electric Vehicle Co., Ltd.
• Hero Electric Vehicles Pvt. Ltd.
• Terra Motors Corporation
• Other Prominent Players
Asia Light Electric Vehicle market report also contains analysis on:
• Asia Light Electric Vehicle Market Segments:
o By Motor Type
DC brushed motors
DC brushless motors
Switched Reluctance motor
o By Charging Station
o By Vehicle Class
• Light Electric Vehicle Market Dynamics
• Light Electric Vehicle Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints