Asia-Pacific Electric Vehicle Components Market

Asia-Pacific Electric Vehicle Components Market is expected to grow at a CAGR of 29.9% throughout the forecast period, to reach US$ 216.01 Bn. by 2027.

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Asia-Pacific Electric Vehicle Components Market Drivers & Restraints:

An increasing adoption of EVs & government initiatives towards the electric vehicles like tax exemptions, purchase rebates, & financial incentives are the key reasons contributing towards the development of EV component market in Asia-Pacific region. The decreasing price of the components used in EVs is boosting the manufactures to choose high quality components in the EV, thereby increasing the demand for the EV components market across Asia Pacific region.

India vs. China: The Battle for Electrification World Domination:

India & China have both declared plans to ban petrol & diesel vehicles as the new energy vehicle insurgency gathers momentum. India & China are clearly not the first to declare such sweeping changes, the world’s two most populated nations have designs on becoming global forerunners in the electrification of vehicles.

India, home to 1.3 Bn people, is the world’s fifth-largest auto market with 21 Mn vehicles sold annually. The South Asia nation plans to shift entirely to EV sales by 2030. India is driving a renewable-energy revolution, with plans to roll out a national policy for EV to establish standards, guidelines & incentives for EV. Aside from the clear environmental benefits, several of India’s cities are among the worlds most polluted, the Indian government has highlighted extensive economic benefit from this change. 82 percent of India’s oil requirements are currently imported but by increasing the adoption of alternatives to fossil fuels could reduce their oil bill by as much as USD60 Bn by 2030. India declared that it will roll out nearly 100,000 battery-powered buses & auto rickshaws within a few months, providing considerable impetus towards a 2030 deadline.

China is the world’s largest auto market with 200 Mn registered vehicles & achieved cumulative sales of more than 951,000 units of EVs to December 2016. China is also home to nine out of the top 20 selling EV brands worldwide. While China has not yet committed to a timeline for the phase out of vehicles operating on traditional fuels. The Chinese government is a constant supporter of EVs, recognizing their beneficial role in easing environmental pressures, & already has in place a myriad of measures to encourage uptake including tax exemptions & concessions for new purchases.

The conversion to EV certainly won’t be a silky-smooth road. At present EV are expensive, and in many countries, like India, there is a lack of infrastructure to maintain pace with demand. In mid-2018 many estimates suggested approximately 100 charging stations exist across India, most concentrated in cities like Bengaluru. This low number severely limits travel distances, restricting EV use to short trips across the city. Conversely, China is investing heavily in electrification infrastructure. In 2016 the State Grid Corporation of China announced plans to build a national network of 100,000 charging stations along 11 main routes, covering 202 cities & 36,000km of expressway by 2020.

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%.

The objective of the report is to present a comprehensive analysis of the Asia-Pacific Electric Vehicle Components 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 Electric Vehicle Components Market dynamics, structure by analyzing the market segments and project the Asia-Pacific Electric Vehicle Components 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 Electric Vehicle Components Market make the report investor’s guide.

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Asia-Pacific Electric Vehicle Components Market, by Components:

• Battery Pack
• Chassis
• Vehicle Body
• Drivetrain
• Others

Asia-Pacific Electric Vehicle Components Market, by Battery:

• Lithium-Ion
• Lead Acid

Asia-Pacific Electric Vehicle Components Market, by Motor Type:

• AC Induction Motor
• Permanent Magnet Motor
• Brushless DC Motor

Asia-Pacific Electric Vehicle Components Market, by End User:

• manufacturers (OEM)
• aftermarket

Asia-Pacific Electric Vehicle Components Market Key Players

• Samsung SDI Co., Ltd.
• SEG Automotive India Private Limited
• Tata Motors Limited
• Mahindra Electric Mobility Limited
• Avtec Limited
• Denso Corporation
• ABB Group
• Exide Industries Ltd.
• Bosch Limited
• Mitsubishi Electric Corp.
• LG Innotek Co. Ltd.
• Contemporary Amperex Technology Co. Ltd.
• Panasonic Corp.
• Hitachi Ltd.
• BYD Co. Ltd.
• OptimumNano Energy Co. Ltd.