Market Size of japan electric car Industry
| Icons | Lable | Value |
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Study Period | 2016 - 2029 |
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Market Size (2024) | USD 43.32 Billion |
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Market Size (2029) | USD 94.51 Billion |
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Largest Share by Sub Body Type | Sports Utility Vehicle |
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CAGR (2024 - 2029) | 16.88 % |
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Fastest Growing by Sub Body Type | Sedan |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
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.
