Eco-Mobility in Asia: Shaping the Future of Light Electric Vehicles (2023-2030)
VynZ Research
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The Asian light electric vehicle market is predicted to grow at 8.0% CAGR during the forecast period with the market size reaching USD 54.8 billion by 2030. Different products including e-scooters, e-rickshaws, and e-motorbikes are majorly contributing to the light electric vehicle market size in Asia. The market has witnessed significant demand for products and services over the last few years due to technological advancements, government support, rapid urbanization, and low maintenance requirements of these vehicles.
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Among different countries, China dominates the market with more than 90% of light electric vehicle fleet size based in the country. India is the fastest-growing market for light electric vehicles, owing to the rapid adoption of electric three-wheelers over the last few years and increasing government support.