Japan Electric Car Market Growth, Size, Trends, Share, Revenue, Demand and Future Competition
Japan Electric Car Market Size- By Body Type, By Fuel Type- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Apr-2024 | Report ID: AMIN24115 | Pages: 1 - 105 | Formats*: |
| Category : Automotive & Transportation | |||
Japan Electric Car Market Introduction and Overview
According to SPER Market Research, the Japan Electric Car Market is estimated to reach USD 177.89 billion by 2033 with a CAGR of 17.13%.
The report includes an in-depth analysis of the Japan Electric Car Market, including market size and trends, product mix, distribution channels, and supplier analysis. Electric vehicles, sometimes referred to as electric cars or EVs, are vehicles that run on electricity as opposed to traditional fossil fuels like gasoline or diesel. They make use of one or more rechargeable battery-powered electric motors. The car's motor(s) are powered by the electricity stored in these batteries, which allows the vehicle to drive ahead. The environmental friendliness of electric cars is one of their main benefits. When operating, electric cars (EVs) emit no tailpipe emissions, which lowers air pollution and greenhouse gas emissions that are linked to climate change
Market Opportunities and Challenges
Opportunities: A multitude of companies are creating and launching new goods in an effort to increase the number of electric vehicles sold in the nation. With a battery capacity of 71.4 kWh and 201 horsepower, Toyota unveiled their brand-new electric SUV, the Bz4x, in May 2022 in Japan. The car also features state-of-the-art ADAS safety features. The arrival of these new models is expected to boost demand for SUVs in the Japanese car market throughout the projected period. Because of government assistance in the form of subsidies and incentives, the nation's demand for electric vehicles is rising. Declared in December 2020, the government would triple the subsidies and incentives for purchasing electric vehicles.
Challenges: Advancement in the market would be restricted by rising manufacturing and battery costs. Although they cost more than fossil fuel-powered cars, electric vehicles (EVs) are superior. These cars have not yet achieved economies of scale since they are not being produced in large quantities. The absence of infrastructure for EV charging is another factor impeding the market's growth. Further impeding the market's expansion is the producers' demand for substantial resources and expenditure. But in the upcoming years, it's anticipated that battery prices would drop due to increased production of electric vehicle batteries and technological developments.
Market Competitive Landscape
The top five companies hold a major share of the fairly concentrated Japanese electric car market. Daihatsu Motor Co., Ltd., Honda Motor Company, Ltd., Mitsubishi Fuso Truck and Bus Corporation, Nissan Motor Co., Ltd., and Toyota Motor Corporation are the leading companies in this market.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Body Type, By Fuel Type |
| Regions covered | Eastern, Western, Northern, Southern |
| Companies Covered | BMW AG, Daihatsu Motor Co., Ltd., General Motors Company, Hino Motors, Ltd., Honda Motor Company, Ltd., Isuzu Motors Ltd., Mazda Motor Corporation, Mitsubishi Fuso Truck and Bus Corporation, Mitsubishi Motors Corporation, Nissan Motor Co., Ltd., Suzuki Motor Corporation, Tesla Inc. |
COVID-19 Impact on Japan Electric Car Market
The Japanese market for electric cars has been significantly impacted by the COVID-19 outbreak. Lockdowns and other measures put in place to stop the virus's spread caused supply chain and production disruptions in Japan, as they did in many other nations. Due to these delays, there were effects on both local and import electric vehicle production and delivery. Additionally, the pandemic's effects on the economy have changed how consumers behave when making purchases. Sales of electric cars have slowed as a result of many prospective customers become increasingly hesitant to make large commitments, such as buying new cars.
Key Target Audience:
- Consumer Demographics
- Environmental Advocates
- Urban Dwellers
- Technology Enthusiasts
- Government Entities
- Fleet Operators
- Energy Sector Players
Our in-depth analysis of the Japan Electric Car Market includes the following segments:
| By Body Type: |
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| By Fuel Type: |
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| By Region: |
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Key Topics Covered in the Report:
- Japan Electric Car Market Size (FY’2024-FY’2033)
- Overview of Japan Electric Car Market
- Segmentation of Japan Electric Car Market By Body Type (Passenger Cars, Hatchback, Multi-purpose Vehicle, Sedan, Sports Utility Vehicle)
- Segmentation of Japan Electric Car Market By Fuel Type (BEV, FCEV, HEV, PHEV)
- Problems and Obstacles in Japan Electric Car Market
- Competitive Landscape in the Japan Electric Car Market
- Impact of COVID-19 and Demonetization on Japan Electric Car Market
- Details on Current Investment in Japan Electric Car Market
- Competitive Analysis of Japan Electric Car Market
- Prominent Players in the Japan Electric Car Market
- SWOT Analysis of Japan Electric Car Market
- Japan Electric Car Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s2.2. Market size estimation2.2.1. Top-down and Bottom-up approach2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges4.2. COVID-19 Impacts of the Japan Electric Car Market
5. Market variable and outlook
5.1. SWOT Analysis5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats5.2. PESTEL Analysis5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape5.3. PORTER’s Five Forces5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Japan Electric Car Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Japan Electric Car Market
7. Japan Electric Car Market, By Body Type (USD Million)
7.1. Japan Electric Car Market Value Share and Forecast, By Body Type, 2024-20337.2. Passenger Cars7.2.1. Hatchback7.2.2. Multi-purpose Vehicle7.2.3. Sedan
7.2.4. Sports Utility Vehicle
8. Japan Electric Car Market, By Fuel Type (USD Million)
8.1. Japan Electric Car Market Value Share and Forecast, By Fuel Type, 2024-20338.2. BEV8.3. FCEV8.4. HEV8.5. PHEV
9. Japan Electric Car Market Forecast, 2020-2033 (USD Million)
9.1. Japan Electric Car Market Size and Market Share
10. Japan Electric Car Market, By Body Type, 2020-2033 (USD Million)
10.1. Japan Electric Car Market Size and Market Share By Body Type (2020-2026)10.2. Japan Electric Car Market Size and Market Share By Body Type (2027-2033)
11. Japan Electric Car Market, By Fuel Type, 2020-2033 (USD Million)
11.1. Japan Electric Car Market Size and Market Share By Fuel Type (2020-2026)11.2. Japan Electric Car Market Size and Market Share By Fuel Type (2027-2033)
12. Japan Electric Car Market, By Region, 2020-2033 (USD Million)
12.1. Japan Electric Car Market Size and Market Share By Region (2020-2026)12.2. Japan Electric Car Market Size and Market Share By Region (2027-2033)12.3. Eastern12.4. Western12.5. Northern12.6. Southern
13. Company Profile
13.1. BMW AG13.1.1. Company details13.1.2. Financial outlook13.1.3. Product summary13.1.4. Recent developments13.2. Daihatsu Motor Co., Ltd.13.2.1. Company details13.2.2. Financial outlook13.2.3. Product summary13.2.4. Recent developments13.3. General Motors Company13.3.1. Company details13.3.2. Financial outlook13.3.3. Product summary13.3.4. Recent developments13.4. Hino Motors, Ltd.13.4.1. Company details13.4.2. Financial outlook13.4.3. Product summary13.4.4. Recent developments13.5. Honda Motor Company, Ltd.13.5.1. Company details13.5.2. Financial outlook13.5.3. Product summary13.5.4. Recent developments13.6. Isuzu Motors Ltd.13.6.1. Company details13.6.2. Financial outlook13.6.3. Product summary13.6.4. Recent developments13.7. Mazda Motor Corporation13.7.1. Company details13.7.2. Financial outlook13.7.3. Product summary13.7.4. Recent developments13.8. Mitsubishi Fuso Truck and Bus Corporation13.8.1. Company details13.8.2. Financial outlook13.8.3. Product summary13.8.4. Recent developments13.9. Mitsubishi Motors Corporation13.9.1. Company details13.9.2. Financial outlook13.9.3. Product summary13.9.4. Recent developments13.10. Nissan Motor Co., Ltd.13.10.1. Company details13.10.2. Financial outlook13.10.3. Product summary13.10.4. Recent developments13.11. Suzuki Motor Corporation13.11.1. Company details13.11.2. Financial outlook13.11.3. Product summary13.12. Tesla Inc.13.12.1. Company details13.12.2. Financial outlook13.12.3. Product summary13.12.4. Recent developments13.13. Toyota Motor Corporation13.13.1. Company details13.13.2. Financial outlook13.13.3. Product summary13.13.4. Recent developments13.14. Volkswagen AG13.14.1. Company details13.14.2. Financial outlook13.14.3. Product summary13.14.4. Recent developments13.15. Others
14. List of Abbreviations
15. Reference Links
16. Conclusion
17. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Japan Electric Car Market is projected to reach USD 177.89 billion by 2033, growing at a CAGR of 17.13% during the forecast period.
Japan Electric Car Market size from 2022. The Market is expected to reach USD 177.89 billion by 2033, at a CAGR of 17.13% during the forecast period.
Japan Electric Car Market CAGR of 17.13% during the forecast period.
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Japan Electric Car Market size is 177.89 billion from 2024 to 2033.
Japan Electric Car Market Segment is covered By Body Type, By Fuel Type.
The Asia-pacific anticipated to have the highest market share in the Japan Electric Car Market.
The key players in the market include Companies Covered BMW AG, Daihatsu Motor Co., Ltd., General Motors Company, Hino Motors, Ltd., Honda Motor Company, Ltd., Isuzu Motors Ltd., Mazda Motor Corporation, Mitsubishi Fuso Truck and Bus Corporation, Mitsubishi Motors Corporation, Nissan Motor Co., Ltd., Suzuki Motor Corporation, Tesla Inc.
"Because of government assistance in the form of subsidies and incentives, the nation's demand for electric vehicles is rising. Declared in December 2020, the government would triple the subsidies and incentives for purchasing electric vehicles.
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