Japan Electric Car Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029

The Japan Electric Car Market is segmented by Body Type ( Passenger Cars ) and by Fuel Type ( BEV, FCEV, HEV, PHEV )

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Japan Electric Car Market Size

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Japan Electric Car Market
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https://s3.mordorintelligence.com/study%20period/1629296433432_test~study_period_study_period.svg Study Period 2016 - 2029
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Market Size (2024) USD 43.32 Billion
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Market Size (2029) USD 94.51 Billion
https://s3.mordorintelligence.com/hydraulic_fluids/1629285650767_test~hydraulic_fluids_hydraulic_fluids.svg Largest Share by Sub Body Type Sports Utility Vehicle
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg CAGR (2024 - 2029) 16.88 %
https://s3.mordorlabs.com/hydraulic_fluids/1629285650767_test~hydraulic_fluids_hydraulic_fluids.svg Fastest Growing by Sub Body Type Sedan

Major Players
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*Disclaimer: Major Players sorted in no particular order

Key Players

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Japan Electric Car Market Analysis

The Japan Electric Car Market size is estimated at USD 43.32 billion in 2024, and is expected to reach USD 94.51 billion by 2029, growing at a CAGR of 16.88% during the forecast period (2024-2029).

  • Largest Segment by Vehicle Type - Sports Utility Vehicle : The launch of various new models and more options to choose from Sedan over hatchbacks is making sedans the best-selling segment in passenger car sales in Japan.
  • Fastest-growing Segment by Vehicle Type - Sedan : The growing interest of people towards adventure and tough driving on various terrains and growing preference towards bold looks is driving the growth SUV in the passenger car segment in Japan.
  • Largest Segment by Fuel Type - BEV : fusion of traditional and advanced technology provides better fuel economy, no range anxiety issues, and easy availability of fuel, making HEV the largest fuel type in Japan's electric car market.
  • Fastest-growing Segment by Fuel Type - FCEV : Stringent norms, governmental subsidies, continued encouragement of BEV adoption among private auto owners which is making BEV the fastest-growing segment in passenger car sales in Japan.

Japan Electric Car Market Trends

This section covers the major market trends shaping the Japan Electric Car Market according to our research experts:

Sports Utility Vehicle is the largest segment by Sub Body Type.

  • Japan has seen a sharp increase in the demand for electric vehicles since 2016, and the nation witnessed a decline in the number of electric vehicle sales by about 10.50% by 2020. In 2021, the economy of the nation began to recover, and sales of electric automobiles increased significantly—by more than 50% annually in 2021 compared to 2020. Electric SUVs acquired the major share, close to 40%, followed by Electric Sedans at 28%, and the rest of the share was acquired by Hatchbacks and MUVs.
  • To expand the number of electric vehicles sold in the nation, numerous companies are developing and releasing new products. In Japan, in May 2022, Toyota launched its all-new electric SUV Bz4x, which has a battery capacity of 71.4 kWh and can produce 201 horsepower. The vehicle also has cutting-edge ADAS security measures. During the projection period in Japan, such new introductions are anticipated to accelerate the demand for SUVs in the Japanese automobile market.
  • The country's demand for electric cars is increasing because of government support in the form of incentives and refunds. The government has declared that it will treble the grants and incentives for buying electric automobiles starting in December 2020. The incentives for battery electric vehicles will rise from JPY 400000 to 800000. It is projected that subsidies will boost sales of batteries in various segments of electric passenger cars, such as Hatchbacks, Sedans, SUVs, and MUVs in Japan during the forecast period.
Japan Electric Car Market

Japan Electric Car Industry Overview

The Japan Electric Car Market is fairly consolidated, with the top five companies occupying 94.83%. The major players in this market are Daihatsu Motor Co., Ltd., Honda Motor Company, Ltd., Mitsubishi Fuso Truck and Bus Corporation, Nissan Motor Co., Ltd. and Toyota Motor Corporation (sorted alphabetically).

Japan Electric Car Market Leaders

  1. Daihatsu Motor Co., Ltd.

  2. Honda Motor Company, Ltd.

  3. Mitsubishi Fuso Truck and Bus Corporation

  4. Nissan Motor Co., Ltd.

  5. Toyota Motor Corporation

*Disclaimer: Major Players sorted in no particular order

Japan Electric Car Market
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Japan Electric Car Market Report - Table of Contents

  1. 1. EXECUTIVE SUMMARY & KEY FINDINGS

  2. 2. REPORT OFFERS

  3. 3. INTRODUCTION

    1. 3.1 Study Assumptions & Market Definition

    2. 3.2 Scope of the Study

    3. 3.3 Research Methodology

  4. 4. KEY INDUSTRY TRENDS

    1. 4.1 Population

    2. 4.2 GDP

    3. 4.3 CVP

    4. 4.4 Inflation Rate

    5. 4.5 Interest Rate For Auto Loans

    6. 4.6 Battery Price (per Kwh)

    7. 4.7 Electrification Impact

    8. 4.8 Shared Mobility

    9. 4.9 New XEV Models Announced

    10. 4.10 Charging Stations Deployment

    11. 4.11 Regulatory Framework

    12. 4.12 Value Chain & Distribution Channel Analysis

  5. 5. MARKET SEGMENTATION

    1. 5.1 Body Type

      1. 5.1.1 Passenger Cars

        1. 5.1.1.1 Hatchback

        2. 5.1.1.2 Multi-purpose Vehicle

        3. 5.1.1.3 Sedan

        4. 5.1.1.4 Sports Utility Vehicle

    2. 5.2 Fuel Type

      1. 5.2.1 BEV

      2. 5.2.2 FCEV

      3. 5.2.3 HEV

      4. 5.2.4 PHEV

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Key Strategic Moves

    2. 6.2 Market Share Analysis

    3. 6.3 Company Landscape

    4. 6.4 Company Profiles

      1. 6.4.1 Audi AG

      2. 6.4.2 BMW AG

      3. 6.4.3 Daihatsu Motor Co., Ltd.

      4. 6.4.4 General Motors Company

      5. 6.4.5 Hino Motors, Ltd.

      6. 6.4.6 Honda Motor Company, Ltd.

      7. 6.4.7 Isuzu Motors Ltd.

      8. 6.4.8 Mazda Motor Corporation

      9. 6.4.9 Mitsubishi Fuso Truck and Bus Corporation

      10. 6.4.10 Mitsubishi Motors Corporation

      11. 6.4.11 Nissan Motor Co., Ltd.

      12. 6.4.12 Suzuki Motor Corporation

      13. 6.4.13 Tesla Inc.

      14. 6.4.14 Toyota Motor Corporation

      15. 6.4.15 Volkswagen AG

  7. 7. KEY STRATEGIC QUESTIONS FOR VEHICLES CEOS

  8. 8. APPENDIX

    1. 8.1 Global Overview

      1. 8.1.1 Overview

      2. 8.1.2 Porter's Five Forces Framework

      3. 8.1.3 Global Value Chain Analysis

      4. 8.1.4 Market Dynamics (DROs)

    2. 8.2 Sources & References

    3. 8.3 List of Tables & Figures

    4. 8.4 Primary Insights

    5. 8.5 Data Pack

    6. 8.6 Glossary of Terms

List of Tables & Figures

  1. Figure 1:  
  2. JAPAN ELECTRIC CAR MARKET, POPULATION YOY GROWTH RATE, MILLION UNITS, 2016 – 2026
  1. Figure 2:  
  2. JAPAN ELECTRIC CAR MARKET, GDP YOY GROWTH RATE, USD MILLION, 2016 – 2026
  1. Figure 3:  
  2. JAPAN ELECTRIC CAR MARKET, CVP YOY GROWTH RATE, 2016 – 2027
  1. Figure 4:  
  2. JAPAN ELECTRIC CAR MARKET, INFLATION RATE YOY GROWTH RATE, PERCENT, 2016 – 2026
  1. Figure 5:  
  2. JAPAN ELECTRIC CAR MARKET, INTEREST RATE FOR AUTO LOANS YOY GROWTH RATE, PERCENT, 2016 – 2026
  1. Figure 6:  
  2. JAPAN ELECTRIC CAR MARKET, BATTERY PRICES YOY GROWTH RATE, 2016 – 2026
  1. Figure 7:  
  2. JAPAN ELECTRIC CAR MARKET, ELECTRIFICATION IMPACT, VOLUME, YOY GROWTH RATE, PERCENT, 2016 – 2026
  1. Figure 8:  
  2. JAPAN ELECTRIC CAR MARKET, DISTRIBUTION OF GROSS DOMESTIC PRODUCT BY ECONOMIC ACTIVITY, SHARE %, 2021
  1. Figure 9:  
  2. JAPAN ELECTRIC CAR MARKET, NEW XEV MODELS ANNOUNCED, VOLUME, YOY GROWTH RATE, UNITS, 2016 – 2026
  1. Figure 10:  
  2. JAPAN ELECTRIC CAR MARKET, CHARGING STATIONS DEPLOYMENT, VOLUME, YOY GROWTH RATE, UNITS, 2016 – 2026
  1. Figure 11:  
  2. JAPAN ELECTRIC CAR MARKET, VOLUME IN UNITS, 2016 – 2026
  1. Figure 12:  
  2. JAPAN ELECTRIC CAR MARKET, VALUE IN USD, 2016 – 2026
  1. Figure 13:  
  2. JAPAN ELECTRIC CAR MARKET, BY SUB BODY TYPE, BY VOLUME IN UNITS, 2016-2028
  1. Figure 14:  
  2. JAPAN ELECTRIC CAR MARKET, BY SUB BODY TYPE, BY VALUE IN USD, 2016-2028
  1. Figure 15:  
  2. JAPAN ELECTRIC CAR MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2016 - 2028
  1. Figure 16:  
  2. JAPAN ELECTRIC CAR MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2016 - 2028
  1. Figure 17:  
  2. JAPAN ELECTRIC CAR MARKET, BY HATCHBACK, BY VOLUME IN UNITS, 2016-2028
  1. Figure 18:  
  2. JAPAN ELECTRIC CAR MARKET, BY HATCHBACK, BY VALUE IN USD, 2016-2028
  1. Figure 19:  
  2. JAPAN ELECTRIC CAR MARKET, BY MULTI-PURPOSE VEHICLE, BY VOLUME IN UNITS, 2016-2028
  1. Figure 20:  
  2. JAPAN ELECTRIC CAR MARKET, BY MULTI-PURPOSE VEHICLE, BY VALUE IN USD, 2016-2028
  1. Figure 21:  
  2. JAPAN ELECTRIC CAR MARKET, BY SEDAN, BY VOLUME IN UNITS, 2016-2028
  1. Figure 22:  
  2. JAPAN ELECTRIC CAR MARKET, BY SEDAN, BY VALUE IN USD, 2016-2028
  1. Figure 23:  
  2. JAPAN ELECTRIC CAR MARKET, BY SPORTS UTILITY VEHICLE, BY VOLUME IN UNITS, 2016-2028
  1. Figure 24:  
  2. JAPAN ELECTRIC CAR MARKET, BY SPORTS UTILITY VEHICLE, BY VALUE IN USD, 2016-2028
  1. Figure 25:  
  2. JAPAN ELECTRIC CAR MARKET, BY FUEL TYPE, BY VOLUME IN UNITS, 2016-2028
  1. Figure 26:  
  2. JAPAN ELECTRIC CAR MARKET, BY FUEL TYPE, BY VALUE IN USD, 2016-2028
  1. Figure 27:  
  2. JAPAN ELECTRIC CAR MARKET MARKET, SHARE(%), BY FUEL TYPE, 2016 - 2028
  1. Figure 28:  
  2. JAPAN ELECTRIC CAR MARKET MARKET, SHARE(%), BY FUEL TYPE, 2016 - 2028
  1. Figure 29:  
  2. JAPAN ELECTRIC CAR MARKET, BY BEV, BY VOLUME IN UNITS, 2016-2028
  1. Figure 30:  
  2. JAPAN ELECTRIC CAR MARKET, BY BEV, BY VALUE IN USD, 2016-2028
  1. Figure 31:  
  2. JAPAN ELECTRIC CAR MARKET, BY FCEV, BY VOLUME IN UNITS, 2016-2028
  1. Figure 32:  
  2. JAPAN ELECTRIC CAR MARKET, BY FCEV, BY VALUE IN USD, 2016-2028
  1. Figure 33:  
  2. JAPAN ELECTRIC CAR MARKET, BY HEV, BY VOLUME IN UNITS, 2016-2028
  1. Figure 34:  
  2. JAPAN ELECTRIC CAR MARKET, BY HEV, BY VALUE IN USD, 2016-2028
  1. Figure 35:  
  2. JAPAN ELECTRIC CAR MARKET, BY PHEV, BY VOLUME IN UNITS, 2016-2028
  1. Figure 36:  
  2. JAPAN ELECTRIC CAR MARKET, BY PHEV, BY VALUE IN USD, 2016-2028
  1. Figure 37:  
  2. JAPAN ELECTRIC CAR MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2018 - 2021
  1. Figure 38:  
  2. JAPAN ELECTRIC CAR MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021
  1. Figure 39:  
  2. JAPAN ELECTRIC CAR MARKET SHARE(%), BY MAJOR PLAYERS, 2021

Japan Electric Car Industry Segmentation

Passenger Cars are covered as segments by Body Type. BEV, FCEV, HEV, PHEV are covered as segments by Fuel Type.
Body Type
Passenger Cars
Hatchback
Multi-purpose Vehicle
Sedan
Sports Utility Vehicle
Fuel Type
BEV
FCEV
HEV
PHEV
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Market Definition

  • Body Type - Passenger cars are electric motor– or engine-driven vehicles with at least four wheels. These vehicles are used for the transport of passengers and comprise no more than eight seats in addition to the driver’s seat.
  • Engine Type - Hybrid and electric vehicles are vehicles that run on batteries and use one or more electric motors for propulsion.
  • Fuel Type - Hybrid and electric vehicles include HEV, PHEV, BEV, and FCEV.
  • Sub Body Type - The sub-body type includes Hatchback, Sedan, SUV, and MPV.
  • Vehicle Type - Passenger vehicles which includes electric powered cars and vehicles, sports utility vehicles, multipurpose vehicles
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Research Methodology

Mordor Intelligence follows a four-step methodology in all our reports.

  • Step-1: Identify Key Variables: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
  • Step-2: Build a Market Model: Market-size estimations for the historical and forecast years have been provided in revenue and volume terms. For sales conversion to volume, the average selling price (ASP) is kept constant throughout the forecast period for each country, and inflation is not a part of the pricing.
  • Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
  • Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
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Japan Electric Car Market Research FAQs

The Japan Electric Car Market size is expected to reach USD 43.32 billion in 2024 and grow at a CAGR of 16.88% to reach USD 94.51 billion by 2029.

In 2024, the Japan Electric Car Market size is expected to reach USD 43.32 billion.

Daihatsu Motor Co., Ltd., Honda Motor Company, Ltd., Mitsubishi Fuso Truck and Bus Corporation, Nissan Motor Co., Ltd. and Toyota Motor Corporation are the major companies operating in the Japan Electric Car Market.

In the Japan Electric Car Market, the Sports Utility Vehicle segment accounts for the largest share by sub body type.

In 2024, the Sedan segment accounts for the fastest growing by sub body type in the Japan Electric Car Market.

In 2023, the Japan Electric Car Market size was estimated at USD 41.37 billion. The report covers the Japan Electric Car Market historical market size for years: 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Japan Electric Car Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Japan Electric Car Industry Report

Statistics for the 2024 Japan Electric Car market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Japan Electric Car analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

Japan Electric Car Report Snapshots

Japan Electric Car Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029