Japan Electric Vehicle Market By Top Players, Regions, Trends, Opportunity And Forecast 2027
Japan promising to be carbon-neutral by 2050, electric vehicles have become more of a requirement to meet these goals. Japan is a major emitter of greenhouse gases, with automobiles accounting for a considerable portion of those emissions. In light of the overall goal, the government decided that by 2035, all new passenger vehicles sold in Japan should be electric, setting the stage for the rapid rise of electric vehicles in the country. The policy plan, on the other hand, offers the vehicle industry and customers leverage. In 2020, more than 29 thousand new electric vehicles were sold in Japan, up from around 12.6 thousand EVs sold a decade ago. When plug-in hybrid automobiles enjoyed a growth spurt in the Japanese automotive market, electric vehicle sales peaked in 2019. Manufacturers in Japan have been rapidly branching out in EV technology to BEVs and PHEVs after focusing mostly on hydrogen-powered fuel cell electric vehicles (FCEV) in the past.
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Japan Electric Vehicle Market Overview:
The market research study Japan Electric Vehicle analyses and assesses the market's position during the forecast period. It is a comprehensive examination that focuses on primary and secondary drivers, market share, leading segments, and geographical analysis. Key actors, big partnerships, mergers, and acquisitions, as well as current innovation and corporate strategies, are also examined in the research.
Japan Electric Vehicle Market size was valued at USD 670 Mn. in 2020 and the total revenue is expected to grow at 13.7% through 2021 to 2027, Japan Electric Vehicle Market is reaching nearly USD 1645.88 Mn. by 2027.
Japan Electric Vehicle Market Scope:
Using both primary and secondary research approaches, we researched the Japan Electric Vehicle Market from every viewpoint. This helped us gain a better understanding of current market dynamics such as supply-demand imbalances, pricing trends, product preferences, customer habits, and so on. The data is then compiled and analyzed using a range of market estimation and data validation techniques. Furthermore, we have an in-house data forecasting engine that forecasts market growth through 2027.
Following the successful completion of market engineering, which included calculations for market statistics, market size estimations, market projections, market breakdown, and data triangulation, extensive primary research was conducted to gather information and verify and validate key figures. Top-down and bottom-up procedures, as well as numerous data triangulation methods, were frequently used throughout the market engineering process to perform market estimating and forecasting for the overall market segments and sub-segments discussed in this research. In order to give vital information throughout the report, extensive qualitative and quantitative analysis is done on all statistics gathered during the whole market engineering process.
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Japan Electric Vehicle Market Segmentation:
Based on Type, the market is sub-segmented into BEV, PHEV, and HEV. In 2020, the BEV segment had the largest revenue share of almost xx%, and this dominance is expected to continue from the forecast period. The significant revenue share is partly due to increased environmental awareness and benefits of BEV among end-users. From the forecast period, the PHEV segment is expected to grow at a CAGR of more than xx% in terms of revenue. This increase can be linked to government programs in the United States and Canada to promote the usage of electric vehicles. Larger vehicle sectors, such as electric trucks and buses, are more likely to provide PHEVs, over the forecast period.
Japan Electric Vehicle Market Key Players:
• Toyota
• Daihatsu
• Skydrive
• COGICOGI
• NExT-e Solution
• Luup
• WeCharge
• Aspark
• Nissan
• Honda
• Suzuki
• Yamaha
• Kawasaki
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Primary and secondary research is used to identify industry leaders, while primary and secondary research is utilized to determine market revenue. Primary research included in-depth interviews with key opinion leaders and industry professionals such as seasoned front-line personnel, CEOs, and marketing personnel. Secondary research included a review of the leading manufacturers' annual and financial reports, whereas primary research included in-depth interviews with key opinion leaders and industry specialists such as experienced front-line personnel, CEOs, and marketing personnel. Secondary data is utilized to determine percentage splits, market shares, growth rates, and market breakdowns, which are then checked using primary data. The players highlighted in this report are as follows:
Regional Analysis:
The report covers both qualitative and quantitative data and gives an in-depth look into the Japan Electric Vehicle industry area by region. It gives a segment-by-segment overview and forecast of the worldwide Japan Electric Vehicle market. It also estimates the market size and forecasts for five major regions from 2021 to 2027: North America, Europe, Asia-Pacific, the Middle East, Africa, and South America. Each area's Japan Electric Vehicle market is further subdivided into regions and segments. The report investigates and forecasts many countries, as well as existing trends and prospects in the field.
COVID-19 Impact Analysis on Japan Electric Vehicle Market:
We researched and analyzed the Japan Electric Vehicle Business Expansion Strategy post-COVID-19, by organizational strategic analysis, landscape, category, utilization, and leading countries, which encapsulates and analyses the Japan Electric Vehicle industry's potential, providing statistical data on market trends, growth regulators, major challenges, PORTER analysis, and market entry strategy analysis, prospects, and forecasts. The fundamental purpose of the research is to offer industrial businesses a strategic analysis of COVID-19's influence. Simultaneously, this study looked into the markets of major countries and highlighted their market potential in post-pandemic scenarios.
Key Questions Answered in the Japan Electric Vehicle Market Report are:
What are the most promising high-growth opportunities in the Japan Electric Vehicle sector, as defined by product category, End User, and Region?
Which Japan Electric Vehicle market segments will expand the fastest, and why?
Which regions will have the fastest growth, and why?
What are the primary elements influencing Japan Electric Vehicle market dynamics? What are the primary drivers and obstacles in the Japan Electric Vehicle market?
What are the Japan Electric Vehicle market's weaknesses and threats?
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