Press Release

Asia Pacific Electric Passenger Car Market to Surpass $ 84 Billion, by 2023

Growing GHG emissions and expanding portfolio by electric car manufacturers to positively influence Asia-Pacific electric passenger car market by 2023

According to TechSci Research report, Asia-Pacific Electric Passenger Car Market By Vehicle Type, By Technology Type, By Driving Range, By Country, Competition Forecast & Opportunities, 2013-2023”, Asia-Pacific electric passenger car market is projected to cross $ 84.7 billion by 2023. The growth of the market is led by rising air pollution levels in several countries across Asia-Pacific, thereby pushing the demand for cleaner automobiles which includes hybrid and electric vehicles. Moreover, several electric car manufacturers are expanding their research and development activities to develop more efficient electric passenger cars, which is further likely to positively influence Asia-Pacific electric passenger car market over the coming years.

Browse 52 Figures spread through 84 Pages and an in-depth TOC on "Asia-Pacific Electric Passenger Car Market"

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Asia-Pacific electric passenger car market was dominated by the hatchback segment with a volume share of more than 48% in 2017, on account of huge investments by leading OEMs in the electric hatchback segment in order to make them affordable. Among countries, China is leading Asia-Pacific electric passenger car market owing to the high demand for cleaner automobiles in the country, followed by Japan. Several electric car manufacturers have established their presence in Asia-Pacific owing to the vast potential in the region. The expanding presence of various companies such as BYD, Nissan, Volkswagen, BMW, Renault, Audi, etc., is further anticipated to intensify competition in Asia-Pacific electric passenger car market in the coming years.

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“Emergence of electric passenger cars with various advanced features is pushing their demand across Asia-Pacific. Moreover, favorable government policies towards the use of electric vehicles along with rising inclination of people towards electric vehicles  due to their various benefits, instead of conventional automobiles, would further steer growth in Asia-Pacific electric passenger car market through 2023.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

Asia-Pacific Electric Passenger Car Market By Vehicle Type, By Technology Type, By Driving Range, By Country, Competition Forecast & Opportunities, 2013-2023 has analyzed the potential of electric passenger car market across the region, and provides statistics and information on market sizes, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes emerging trends along with essential drivers and key challenges faced by Asia-Pacific electric passenger car market.

 

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TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.

 

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