Japan Electric Vehicle Market Trends, Segmentation, Regional Outlook, Future Plans and Forecast to 2027

The market is divided into three sub-segments based on type: BEV, PHEV, and HEV. The BEV category had practically the whole revenue share in 2020, and it is anticipated that this dominance would persist throughout the forecast period. The high revenue share is partially attributable to end consumers' growing environmental consciousness and the advantages of BEVs. The PHEV segment is anticipated to have revenue growth from the projected period onward at a CAGR of more than xx%. Government initiatives to encourage the use of electric vehicles in the US and Canada can be blamed for this rise. Over the course of the projected period, PHEVs are increasingly likely to be offered by larger vehicle sectors, notably electric trucks and buses.