Asia-Pacific Automotive High Performance Electric Vehicle Market size was valued US$ XX Mn in 2019 and the total revenue is expected to grow at XX% through 2020 to 2027, reaching US$ XX Mn.
Asia-Pacific Automotive High Performance Electric Vehicle Market
Asia-Pacific Automotive High Performance Electric Vehicle Market:
Automotive High Performance Electric Vehicles are different from other electric vehicle on aspects, containing longer range of distance i.e. over 150 miles in a single charge, high acceleration, & their ability to attain a speed of over 90 miles/ hour with faster acceleration of 0 to 60 miles/hour. However purely electric vehicles have some limitations, usually counting with lower range & higher weight.
Increasing public knowledge about the relationship among climate, pollution, & personal consumption has led to a rapid growth in demand for green transportation options with electrified transit, like e-buses, cars & scooters. However, despite the rise in demand, few global cities have begun adding electric vehicles to their public & private transportation fleets. The places which have are mainly located in the Asia-Pacific.
Asia-Pacific is leading the world when it comes to electric vehicle in public transport & that may change the global approach to transit. The electric vehicle market has grown rapidly over the past few years and is expected to reach more than XX units by 2027. The growth is being driven primarily by municipal purchases throughout Asia-Pacific, especially in China & India. The Chinese government is subsidizing EV adoption as regional & municipal markets move to modernize their transit systems with new EVs. India, home to 1.3 Bn people, is the world’s fifth-largest auto market with 21 Mn vehicles sold annually. Prime Minister Narendra Modi is driving a renewable-energy revolution, with plans to roll out a national policy for EV to establish standards, guidelines & incentives for electric vehicle.
EV uptake across South East Asia remains comparatively low, consumers are aware of the differences in many EV technologies like Battery Electric Vehicles (BEVs), Plug-in Hybrid Vehicles (PHEVs), Full Hybrid. The highest association of EVs is for BEVs at 83%. Singapore, Indonesia, Thailand, Malaysia, Vietnam & the Philippines discloses that 37 percent of potential buyers are open to considering an EV as their next car. Buyers in the Philippines, Thailand & Indonesia developed as the most enthusiastic about electric cars. With the incentives, the region can increase rate of the adoption of electric vehicles.
Impact of Covid-19 on Manufactures:
Overall auto sales in plunged 79% in February compared with the same month in 2019, Sales of new energy vehicles fell for the eighth month in a row. China's auto market was already whirling from a large drop in demand in 2019.
In 2020 no carmaker has been safe to the effects of the coronavirus. That contains everyone from the oldest joint ventures producing internal combustion engine SUVs to the most innovative startups making electric vehicles. The majority of electric car makers will not survive. But how long they survive & whether industry consolidation occurs through lots of mergers or bankruptcies will depend on the willingness of the government.
The objective of the report is to present a comprehensive analysis of the Asia-Pacific Automotive High Performance Electric Vehicle Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Asia-Pacific Automotive High Performance Electric Vehicle Market dynamics, structure by analyzing the market segments and project the Asia-Pacific Automotive High Performance Electric Vehicle Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Asia-Pacific Automotive High Performance Electric Vehicle Market make the report investor’s guide.
Asia-Pacific Automotive High Performance Electric Vehicle Market, By Drive Type
• Plug-in Hybrid
• Pure Electric
Asia-Pacific Automotive High Performance Electric Vehicle Market, By Vehicle Type
• Passenger Car
• Commercial Vehicle
Asia-Pacific Automotive High Performance Electric Vehicle Market Key Players
• BMW AG
• Daimler AG (Mercedes-Benz)
• Toyota Motor Corporation
• Kia Motors Corporation
• General Motors
• Nissan Motor Co. Ltd
• Hyundai Motor Company
• Honda Motor Co. Ltd
• Volkswagen AG
• Groupe Renault
• BYD Co. Ltd
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