Malaysia Electric Vehicle Market size was valued US$ XX Mn in 2019 and the total revenue is expected to grow at 27% % from 2020 to 2027, reaching US$ XX Mn.
Malaysia Electric Vehicle Market
Malaysia Electric Vehicle Market:
Malaysia wants to motivate buyers of electric vehicles & other energy-efficient vehicles. This is specified in the National Transport Policy, which amongst other plans aims to increase the execution of low carbon mobility initiatives. A lack of awareness amongst buyers & restricted charging availabilities is hindering the development of the electric vehicle market in Malaysia. Market awareness on the aids of electric vehicles is still low, while buyers of electric vehicles are facing problems as charging services are not yet common in Malaysia. The hybrid & electric vehicle sales are limited in-country at the current time but the condition will improve during the forecast period with wider awareness & whole facilities.
In 2018 hybrid vehicles saw decreasing sales, dropping to 13,049 units from 20,744 units. Electric Vehicles saw a development from 2 units sold in 2018 to 32 in 2017, but the number is still a far call from the volume in developed markets. In 2019 total sales for hybrid & electric vehicles in the country accounted for 2.2 percent of 604,287 units sold by automakers. In 2019, Honda Malaysia gained a milestone of 10,000 units of domestic manufactured hybrid models. The models which contributed to this success are the Jazz Hybrid at 60 percent, City Hybrid at 34 percent, and HR-V Hybrid at 6 percent. SUV carmaker, BMW Malaysia Sdn Bhd, sold 3,148 electric BMW & mini vehicles in 2019, including more than 900 units of BMW X5 xDrive40e, 300 units of BMW 740Le xDrive, 600 units of BMW 530e, 1,000 units of BMW 330e & 70 units of a mini plug-in hybrid.
The German automaker group restated its promise to increase the infrastructure for electric vehicles in Malaysia, with 18 new BMW electric charging services which are introduced in 2019. The government will support the development of charging services in the country & provide more specific incentives for hybrid vehicles.
The objective of the report is to present a comprehensive analysis of the Malaysia Electric Vehicle 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 Malaysia Electric Vehicle Market dynamics, structure by analyzing the market segments and project the Malaysia Electric Vehicle Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Malaysia Electric Vehicle Market make the report investor’s guide.
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Malaysia Electric Vehicle Market, By Type
Malaysia Electric Vehicle Market, By Vehicle Type
• Two Wheeler
• Passenger Car
• Commercial Vehicle
Malaysia Electric Vehicle Market Key Players
• Mercedes Benz
• Delphi Automotive
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