Electrifying Asia's vehicle market

Trends, Challenges and Opportunities for 2019



Hollie Smyth
01/23/2019

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While Internal Combustion Engine (ICE) vehicles are not leaving our roads any time soon, the Electric Vehicle (EV) market is quickly securing a much more sizeable presence as governments and auto manufacturers steer towards a greener and more sustainable global economy. While small in number, owned EVs are expected to rise to 51.5 million by 2024, experiencing a CAGR of 23.9% within these next five years.

Nowhere is the rise of EV being experienced with more overt support or swiftness than the Asia-Pacific (APAC) region, which held the biggest market share last year and is set to carry on in this vein well into the 2020s. Thanks to its combination of a huge and dynamic automotive sector, supportive regulatory frameworks and willingness to invest in the necessary infrastructure, Asia is set to take advantage of the evolution of road transport.

This report goes through:

  • KEY TRENDS FOR THE ASIAN PROLIFERATION OF EVS
  • CHALLENGES
  • OPPORTUNITIES AND COMMERCIALISING STRATEGIES
  • A NEW ERA IN ASIAN TRANSPORTATION
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