Hong Kong Electric Vehicle Market Outlook (2020-2025) | Outlook, Size, Share, Revenue, Analysis, Forecast, Growth, Trends, Industry & COVID-19 IMPACT

Market Forecast By Vehicle Types (Electric 2-Wheeler, Electric 3-Wheeler, Electric 4-Wheeler (Passenger Car and Light Commercial Vehicle (Goods Carrier)), Electric Bus and Electric Truck), By Charger Types (AC and DC), By DC Charger Connector Types (CHAdeMO, CCS and Others (including Tesla superchargers and GB/T), By DC Charger Power Ratings (40-80 kW, 80-120 kW and 120-200 kW), By Charger End Consumers (Public and Private) And Competitive Landscape.

Product Code: ETC072119 Publication Date: Feb 2023 Product Type: Market Research Report
Publisher: 6Wresearch No. of Pages: 80 No. of Figures: 14 No. of Tables: 8

Hong Kong Electric Vehicle Market report comprehensively covers the market by vehicle types, charger types, DC charger power ratings, and by-charger end consumers. Hong Kong electric vehicle market report provides an unbiased and detailed analysis of the ongoing trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Latest 2023 Development of The Hong Kong Electric Vehicle Market

Hong Kong Electric Vehicle Market has seen significant growth in recent years. The government has implemented several initiatives such as subsidies, tax exemptions, and the installation of charging stations to encourage people to purchase EVs. The government has announced plans to launch a fleet of electric buses and taxis to reduce emissions and improve air quality. Additionally, there are also plans to establish a network of fast charging stations to support the growth of the EV market in Hongkong. The main drivers of this growth are the government's efforts to promote the adoption of electric vehicles and the increasing awareness of the benefits of these vehicles.

In addition, the increasing awareness of the benefits of electric vehicles, such as lower fuel costs and reduced emissions is also contributing to the Hong Kong Electric Vehicle Market growth. Due to increasing demand, many consumers are now considering electric vehicles as a feasible alternative to traditional gasoline-powered vehicles. Despite these positive trends, the market has encountered some challenges such as limited charging infrastructure and higher upfront costs for electric vehicles. However, the Hong Kong electric vehicle market is expected to continue its steady growth in the near future through the government's efforts and the increasing awareness of the benefits of these vehicles. In general, Electric vehicles produce significantly lower emissions compared to traditional gasoline-powered vehicles which makes them a more eco-friendly option.

Hong Kong Electric Vehicle Market Synopsis

Hong Kong electric vehicle market is at a nascent stage, the market witnessed minimum sales in the previous few years due to the outbreak of the Covid-19 pandemic. However, the higher income in Hong Kong, relative to other Asian countries continues to be a major driver for electric vehicle sales. Moreover, favourable incentives from the Hong Kong government through concessions on first registration taxes on new EV sales and the scrappage scheme (One-for-One Replacement Scheme) are supportive of rapid EV adoption in Hong Kong.

Hong Kong Electric Vehicle Market Overview

According to 6Wresearch, Hong Kong electric vehicle market size grew at a CAGR of 7.2% during 2020-2025. Hong Kong electric vehicle market has significant growth prospects. Certain key factors such as an increase in demand for fuel-efficient, high-performance, and low-emission vehicles along with stringent government rules and regulations towards vehicle emission supplement the growth of the electric vehicle market in the country.

Market Analysis By Vehicle Types

4 Wheelers are the largest segment in the Hong Kong automotive industry. Additionally, the Hong Kong government revised its “Pilot Green Transport Fund”, renaming it the “New Energy Transport Fund” and would give $103.21 million to subsidize commercial vehicles (CVs) such as taxis, light buses, buses, and vessels, in order to make the switches to greener technologies (electric vehicles).

Hong Kong Electric Vehicle Market Segmentation

Key Attractiveness of the Report

  • COVID-19 Impact on the Market.
  • 6 Years Market Numbers.
  • Estimated Data Starting from 2020 to 2025F.
  • Base Year: 2019
  • Forecast Data until 2025F.
  • Key Performance Indicators Impacting the Market.
  • Major Upcoming Developments and Projects.

Key Highlights of the Report

  • Hong Kong Electric Vehicle Market Overview
  • Hong Kong Electric Vehicle Market Outlook
  • Hong Kong Electric Vehicle Market Forecast
  • Historical Data and Forecast Hong Kong Electric Vehicle Market Revenues and Volume for the Period 2018-2028F
  • Historical Data and Forecast of Hong Kong Electric Vehicle Market Revenues and Volume, By Vehicle Types, for the Period 2018-2028F
  • Historical Data and Forecast of Hong Kong Electric Vehicle Market Revenues and Volume, By Charger Types, for the Period 2018-2028F
  • Historical Data and Forecast of Hong Kong Electric Vehicle Market Revenues and Volume, By DC Charger Power Ratings, for the Period 2018-2028F
  • Historical Data and Forecast of Hong Kong Electric Vehicle Market Revenues and Volume, By Charger End Consumers, for the Period 2018-2028F
  • Market Drivers and Restraints
  • Industry Life Cycle
  • Porter’s Five Force Analysis
  • Impact Analysis of COVID-19
  • Market Trends
  • Hong Kong Vehicle Market Revenue Ranking, By Companies
  • Competitive Benchmarking
  • Company Profiles
  • Key Strategic Recommendations

Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

  • By Vehicle Types

    • Electric 2-Wheeler
    • Electric 3-Wheeler
    • Electric 4-Wheeler
      • Passenger Car
      • Light Commercial Vehicle (Goods Carrier)
    • Electric Bus
    • Electric Truck

By Charger Types

  • AC
  • DC

By DC Charger Connector Types

  • CHAdeMO
  • CCS
  • Others (including Tesla superchargers and GB/T)

By DC Charger Power Ratings

  • 40-80 kW
  • 80-120 kW
  • 120-200 kW

By Charger End Consumers

  • Public
  • Private
Hong Kong Electric Vehicle Market: FAQs
Tesla, Nissan, and Audi are some of the most popular brands in Hong Kong.
The charging infrastructure in Hong Kong is emerging and more charging stations are being installed in public places and shopping malls.
Electric vehicles are becoming increasingly popular, particularly among environmentally conscious consumers.
The challenges faced by the market include inadequate charging infrastructure in rural areas and a limited range of electric vehicle models.
Yes, we provide customisation as per your requirements. To learn more, feel free to contact us on sales@6wresearch.com
1. Introduction
1.1 Market Scope & Segmentation
1.2 Research Methodology – Sources of Information
1.3 Robust Forecasting Model
1.4 Assumptions
2. Hong Kong Electric Vehicle Market Overview
2.1. Hong Kong Electric Vehicle Market Overview
2.2. Hong Kong Electric Vehicle Market Revenues and Volume, 2019-2025F
2.3. Hong Kong Electric Vehicle Market Revenue Share, By Types
2.3.1. Hong Kong 2-Wheeler Electric Vehicle Market Revenue and Volume Share, 2019 & 2025F
2.3.2. Hong Kong 3-Wheeler Electric Vehicle Market Revenue and Volume Share, 2019 & 2025F
2.3.3. Hong Kong 4-Wheeler Electric Vehicle Market Revenue and Volume Share, 2019 & 2025F
2.3.4. Hong Kong E-Truck Electric Vehicle Market Revenue and Volume Share, 2019 & 2025F
2.3.5. Hong Kong Goods Carrier Electric Vehicle Market Revenue and Volume Share, 2019 & 2025F
2.4. Hong Kong 4-Wheeler Electric Vehicle Market Revenues and Volume, 2019-2025F
2.5. Hong Kong 4-Wheeler Electric Vehicle Market Overview, By Types
2.5.1. Hong Kong Passenger Car Electric Vehicle Market Revenues and Volume, 2019-2025F
2.5.1. Hong Kong Light Commercial Electric Vehicle Market Revenues and Volume, 2019-2025F
2.6. Hong Kong Electric Bus Market Revenues and Volume, 2019-2025F
3. Hong Kong Electric Vehicle Charging Infrastructure Market Overview
3.1. Hong Kong Electric Vehicle Charger Market Revenues and Volume, 2019-2025F
3.2. Hong Kong Electric Vehicle Charger Market Revenue and Volume Share, By Types, 2019 & 2025F
3.2.1. Hong Kong AC Charger Electric Vehicle Market Revenue and Volume Share, 2019 & 2025F
3.2.2. Hong Kong DC Charger Wheeler Electric Vehicle Market Revenue and Volume Share, 2019 & 2025F
3.3. Hong Kong Electric Vehicle Charger Market Revenues and Volume, By Type 2019-2025F
3.3.1. Hong Kong AC Charger Electric Vehicle Market Revenues and Volume, 2019 & 2025F
3.3.2. Hong Kong DC Charger Wheeler Electric Vehicle Market Revenues and Volume, 2019 & 2025F
3.4. Hong Kong Electric Vehicle Charger Market Volume Share, By End Consumers, 2019 & 2025F
3.4.1. Hong Kong Public End Consumer Electric Vehicle Charger Market Volume, 2016-2025F
3.4.1. Hong Kong Private End Consumer Electric Vehicle Charger Market Volume, 2016-2025F
3.5. Hong Kong DC Charger Market Volume Share, By Connector Types, 2019 & 2025F
3.5.1. Hong Kong CHAdeMO DC Electric Vehicle Charger Market Volume, 2016-2025F
3.5.2. Hong Kong CCS DC Electric Vehicle Charger Market Volume, 2016-2025F
3.5.3. Hong Kong Other DC Electric Vehicle Charger Market Volume, 2016-2025F
3.6. Hong Kong DC Charger Market Volume Share, By Power Rating, 2019 & 2025F
3.6.1. Hong Kong 40-80 kW DC Electric Vehicle Charger Market Volume, 2016-2025F
3.6.2. Hong Kong 80-120 kW DC Electric Vehicle Charger Market Volume, 2016-2025F
3.6.3. Hong Kong 120-200 kW DC Electric Vehicle Charger Market Volume, 2016-2025F
3.7. Hong Kong Electric Vehicle High Power Charger Market Volume, 2022F-2025F
3.8. Hong Kong Electric Vehicle Charging Infrastructure - Ecosystem
4. Hong Kong Electric Vehicle Charging Infrastructure Competitive Landscape
4.1. Hong Kong Electric Vehicle Charger Volume, By Company, 2019
4.2. Hong Kong Electric Vehicle Charger Market Volume Share, By Company, 2019
5. Company Profiles
6. Disclaimer
List of Figures
1. Hong Kong Electric Vehicle Market Revenues and Volume, 2019-2025F ($ Million, Units)
2. Hong Kong Electric Vehicle Market Revenue Share, By Types, 2019 & 2025F
3. Hong Kong Electric Vehicle Market Volume Share, By Types, 2019 & 2025F
4. Hong Kong 4-Wheeler Electric Vehicle Market Revenues and Volume, 2019-2025F ($ Million, Units)
5. Hong Kong Electric Bus Market Revenues and Volume, 2019-2025F ($ Million, Units)
6. Hong Kong Electric Trucks Market Revenues and Volume, 2019-2025F ($ Million, Units)
7. Hong Kong Electric Vehicle Charger Market Revenues and Volume, 2019-2025F ($ Million, Units)
8. Hong Kong Electric Vehicle Charger Market Revenue Share, By Types, 2019 & 2025F
9. Hong Kong Electric Vehicle Charger Market Volume Share, By Types, 2019 & 2025F
10. Hong Kong AC Charger Market Revenues and Volume, 2019-2025F ($ Million, Units)
11. Hong Kong DC Charger Market Revenues and Volume, 2019-2025F ($ Million, Units)
12. Hong Kong Electric Vehicle Charger Market Volume Share, By End Consumers, 2019 & 2025F
13. Hong Kong DC Charger Market Volume Share, By Connector Types, 2019 & 2025F
14. Hong Kong DC Charger Market Volume Share, By Power Ratings, 2019 & 2025F
15. Hong Kong Electric Vehicle High Power Charger Market Volume, 2020E-2025F (Units)
16. Hong Kong Electric Vehicle Charger Market Volume Share, By Company, 2019
List of Tables
1. Hong Kong 4-Wheeler Electric Vehicle Market Revenues, By Types, 2019-2025F ($ Million)
2. Hong Kong 4-Wheeler Electric Vehicle Market Volume, By Types, 2019-2025F (Units)
3. Hong Kong Electric Vehicle Charger Market Volume, By End Consumers, 2019-2025F (Units)
4. Hong Kong DC Charger Market Volume, By Connector Types, 2019-2025F (Units)
5. Hong Kong DC Charger Market Volume, By Power Ratings, 2019-2025F (Units)
6. Hong Kong Electric Vehicle Charger Volume, By Company, 2019
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