Asia-pacific Lightweight Materials For Ev Market Forecast 2022-2030
The Asia-Pacific lightweight materials for EV market is predicted to progress with a CAGR of 19.69% over the forecasting years of 2022 to 2030. Some of the top drivers influencing the market growth of the region are market players’ investments and focus on achieving economies of scale on the basis of manufacturing capabilities available in the Asia-Pacific, as well as the presence of various government incentives and support in developing economies such as India and China.
The Asia-Pacific lightweight materials for EV market growth assessment comprises the study of India, South Korea, China, Japan, and Rest of Asia-Pacific. As per a statement from the Ministry of Trade, Industry, and Energy, South Korea is set to provide investment incentives, in addition to other support measures, to encourage investments in the country’s electric vehicle sector as well as related smart technologies. Moreover, in order to double South Korea’s market share for electric vehicles by the year 2030, the government is expected to make nearly $66 billion in incentives accessible by 2026.
South Korea’s government also aims to manufacture 3.3 million electric vehicles by 2030. In addition, on May 2022, Hyundai Motor Group announced its plans to invest $16.54 billion by 2030 to expand its electric vehicle business in South Korea. Hence, such efforts by the government, coupled with industry developments, are anticipated to provide the lightweight materials for EV market in the Asia-Pacific with lucrative growth opportunities.
Some of the eminent players operating in the market are Toray Industries Inc, Novelis Inc, etc.
Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation caters to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• The competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments
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