Global Japan Electric Car Market
Japan Electric Car Market size was valued US$ XX Mn in 2019 and the total revenue is expected to grow at XX% through 2020 to 2027, reaching US$ XX Mn. The report has covered market trends with competitive landscape.
Japan Electric Car Market Overview:
Electric cars had their leading year ever in 2019, even as storm clouds met over their future. The numbers were vast. Automakers committed $225 Bn to electrification in the coming years. Electric vehicles gripped 2.2% of the global vehicle market over the first 10 months of 2019 as a slew of new models hit the road. Ford revealed the upcoming electric Mustang Mach-E & an electric F-150 pick-up.
Increasing public awareness about the relationship among climate, pollution, & personal consumption has led to a rapid growth in demand for green transportation options with electrified transit, cars & scooters. However, despite the rise in demand, few global cities have begun adding electric vehicles to their public & private transportation fleets. The places which have are mainly located in the Asia-Pacific.
The Japanese plug-in electric car market is in an unsatisfactory stage. After a 7 percent decrease in 2018, in 2019 sales declined by another 17 percent year-over-year to 43,867. The market share was just 0.8 percent (compared to 1.0% in 2018, and 1.1% in 2017), which is very low compared to other nations.
Japanese Automakers Honda & Toyota Ready to Join EV Revolution.Toyota & Honda have signaled they are finally ready to embrace EVs. For aims that appear to involve national politics, Japanese automakers have been hesitant to embrace the EV revolution. Following the disaster at Fukushima, the Japanese government made a decision that hydrogen should be the foundation of the country’s clean energy future.Owing to the close relationship between government & industry in Japan, it has seemed that Toyota & Honda elected to put all their eggs in the hydrogen basket. They spent huge amounts of money & time developing hydrogen fuel cell cars. Only Nissan drifted from the path prescribed by national policy to develop the LEAF. But electric cars are in strong demand.
The Future of Minicar:
Nissan, Japan’s second number car maker, too is pushing its new IMk as aninnovative expression of Minicar.Kei cars, which signify about a third of all Japanese passenger car sales, are the low-cost, fuel-sipping vehicles marketed almost fully for the domestic market & normally start around $10,000.Toyota did not disclose pricing details for the ultra-compact BEV.Honda Motor is also following a “smaller-is-better” strategy with its higher-priced Honda e, a petite, four-seater battery electric hatchback launched earlier this year.Honda plans to sell it in Europe & Japan at a starting price of around $32,000, putting it in range of Tesla’s Model 3 that has a starting price of around $39,000.
Japanese automakers are not the only ones to see smaller electric vehicles as the short-term solution to the high-cost & limited range of battery electric vehicles. Small electric vehicles have been on the global market for the past decade, since Daimler AG’s Smart brand launched a battery electric version of its Fortwo model.But they have yet to go conventional partly owing to a starting price north of $20,000, similar to numerous family-sized gasoline sedans, & a lack of demand in North America.
Manufacturers have been forced to halt production lines & close dealerships in a bid to stop the spread of corona virus.
Overall auto sales in plunged 79% in February compared with the same month in 2019, Sales of new energy vehicles fell for the eighth month in a row. China’s auto market was already whirling from a large drop in demand in 2019. In 2020 no carmaker has been safe to the effects of the coronavirus. That contains everyone from the oldest joint ventures producing internal combustion engine SUVs to the most innovative startups making electric vehicles. The majority of electric car makers will not survive. But how long they survive & whether industry consolidation occurs through lots of mergers or bankruptcies will depend on the willingness of the government.
The objective of the report is to present a comprehensive analysis of the Japan Electric Car 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 Japan Electric Car Market dynamics, structure by analyzing the market segments and project the Japan Electric Car Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Japan Electric Car Market make the report investor’s guide.
Japan Electric Car Market, By Technology
• BEV
• PHEV
• HEV
Japan Electric Car Market, By Product
• Hatchback
• Sedan
• SUV
• Others
Japan Electric Car Market, By Battery
• LFP
• Li-NMC
• Others
Japan Electric Car Market, By Battery Capacity
• >201 Ah
• <201 Ah
Japan Electric Car Market, By End-User
• Shared mobility providers
• Government organizations
• Personal users
• Others
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