ASEAN electric car market is at the nascent stage and is estimated to exhibit considerable growth in the near future. ASEAN electric car market is estimated to grow at a CAGR of more than 22.0% during the forecast period. Government subsidies are expected to play a major role in the growth of the market in the region. For instance, in February 2019, the Thailand Board of Investment (BOI) has considered waiving excise tax to 2% from 8% for eligible electric vehicle manufacturers in Thailand to encourage them to produce electric cars. Moreover, a significant investment for the development of the electric vehicle and its equipment can be witnessed in the region. Indonesia is a major source of raw material for the electric battery that is Cobalt and Nickel due to which various companies are planning to start manufacturing EVs in the country. One of the recent instances is Toyota which announced an investment of around $2.0 billion in 2019 to increase the EV production in the country. 

Visit for Global Electric Car Market Report at: https://www.omrglobal.com/industry-reports/electric-car-market 

ASEAN electric car market is segmented on the basis of vehicle type, propulsion technology, and battery type. On the basis of vehicle type, the market is further studied into hatchback, sedan, and SUV. On the basis of propulsion technology, the market is sub-segmented into battery-electric cars and plug-in hybrid electric cars. Battery electric cars are expected to show significant growth in the region. On the basis of battery type, the market is sub-segmented into NiMH, Li-Ion, and others. Li-ion battery cars market is projected to cover a major market share during the forecast period. Based on geography, the market is segmented into Indonesia, Thailand, Malaysia, Singapore, and others. Singapore is expected to show a significant market growth rate during the forecast period whereas Thailand and Indonesia are expected to hold a major market share in the near future. 

The companies which are contributing significantly to the market include Nissan Motor Co., Toyota Motor Corp., Hyundai Motor Co., Jaguar Land Rover Ltd., Terra Motors Corp., BMW AG, Honda Motor Co., Ltd., Mitsubishi Motors Corp., Renault Group, SAIC Motor Corp., and others. The market players are considerably contributing to the market growth by adopting various growth strategies including new product launch, merger and acquisition, collaborations with government, and technological advancements to stay competitive in the market. 

Research Methodology

The market study is incorporated by extensive primary and secondary research conducted by the research team.  Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. In the report, the analysis of the country is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts to brings authenticity to the reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.
• Government Websites

The report provides an in-depth analysis on market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. ASEAN Electric Car Market Research and Analysis by Vehicle Type 
2. ASEAN Electric Car Market Research and Analysis by Propulsion Technology
3. ASEAN Electric Car Market Research and Analysis by Battery Type

The Report Covers

• Comprehensive research methodology of the ASEAN Electric Car Market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the ASEAN Electric Car Market.
• Insights about market determinants which are stimulating the ASEAN Electric Car Market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.