Assessment of the Electric Vehicle (EV) Landscape in Thailand, 2018–2025

Assessment of the Electric Vehicle (EV) Landscape in Thailand, 2018–2025

The Market is Driven by Government Efforts to Make EV Viable by Promoting Local Manufacturing Through Incentives and Privileges

RELEASE DATE
04-Dec-2019
REGION
Asia Pacific
Research Code: PAA8-01-00-00-00
SKU: AU01918-AP-MR_23801

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Description

In 2018, the penetration of electric vehicles, including Plug-In Electric Vehicles (PHEVs) and Battery Electric Vehicles (BEVs) in the total auto sales in Thailand was less than 1%. For instance, there were only 57 units of BEVs and 8,745 units of PHEVs were sold.

PHEVs in the Thai market are premium vehicles and there are no mass-market models available presently. Some key models include BMW 330e, 530e, Mercedes C300e, S560e, Porsche Cayenne E-Hybrid, Porsche Panamera SE- Hybrid, and Volvo XC60, S90, and XC90. BYD and Hyundai are presently the market leaders in terms of BEV sales in Thailand. Participants that have recently entered into the BEV space in Thailand are Audi, Nissan, MG Motors, and Jaguar.

Urbanization, change in vehicle ownership, autonomous driving developments, EVs, and Thailand 4.0 are some Mega Trends in the automotive industry in Thailand. Urbanization will drive economic growth in secondary cities of Thailand and will help narrow down the income gap between rural and urban cities. Looking ahead, the Thailand EV market is expected to grow at a CAGR of 21.6% from 2018 to 2025. The Total Industry Volume (TIV) is expected to reach 34,603 units in 2025 compared to 8,802 units in 2018.

Research Scope

The aim of this study is to evaluate the electric vehicle market in Thailand. The scope is limited to BEVs and PHEVs and excludes Hybrid Electric Vehicles (HEVs) that do not require charging. The study focuses on the incentives offered by the government to promote manufacturing and sales of EVs. It also describes factors that drive and restraint market growth and provides existing key trends in the market.


Key Features

  • To provide a strategic overview of the electric vehicle market, encompassing BEVs and PHEVs, in Thailand
  • To analyze the supply- and demand-side scenario, key perks and benefits offered by the government
  • To quantify the market in terms of size, i.e., the number of vehicles sold by category and forecast
  • To identify market trends, such as new product launches, strategic alliances, and collaborative services
  • To evaluate the growth opportunities for stakeholders
  • To identify new business models emerging in the electric vehicle ecosystem

Key Issues Addressed

  • What are the current and future market trends of the electric vehicle market in Thailand?
  • How will the market transform in 2019, in terms of the geographic growth?
  • What are the current and future market trends in the electric vehicle charging infrastructure market?
  • Which models are likely to be launched in the next 2 to 3 years?
  • What are the incentives available on the purchase and manufacture of electric vehicles in Thailand, and how will they impact the sales of an electric vehicle in the country?

RESEARCH: INFOGRAPHIC

This infographic presents a brief overview of the research, and highlights the key topics discussed in it.
Click image to view it in full size

Table of Contents

Executive Summary—Market Engineering Measurements

Executive Summary

Executive Summary (continued)

Executive Summary (continued)

Executive Summary (continued)

Executive Summary (continued)

Executive Summary (continued)

Executive Summary (continued)

Research Scope

Research Aims and Objectives

What is an Electric Vehicle?

Key Questions this Study will Answer

Research Background

Research Methodology

Market Drivers

Market Drivers—Explained

Market Restraints

Market Restraints—Explained

Mega Trends in Thailand

Thailand Macro-economic Overview

Thailand Automotive Production Overview

TIV (Sales) Trends—2014 to 2018

CO2 Emissions in Transport Sector

CO2 Emissions Per Capita

Key Challenges

Key Challenges (continued)

Key Government Measures

Global EV Promotion Policies and Measures—Demand Perspective

Global EV Promotion Policies and Measures—Supply Perspective

EV Policy Landscape in Thailand

EV Charging Consortium

BOI EV Incentives and Packages

BOI EV Incentives and Packages Applications

Expected BOI EV Incentives and Packages Approvals in Short Term

BOI Incentives and Packages—Key OEMs Announcements

BOI Incentives and Packages—Key OEMs Announcements (continued)

Other EV Participants in the Thai Market

EV Market Overview

PHEV Market Overview—Market Size and Key Participants

PHEV Market Overview—Key Models

BEV Market Overview—Market Size and Key Participants

BEV Market Overview—Key Models

EV Charging Infrastructure Overview—Market Size and Key Participants

EV Charging Infrastructure—Types of EV Chargers

EV Charging Infrastructure—Market Share

EV Charging Infrastructure Business Model in Thailand

Key Partnerships in EV Charging Infrastructure

Key Trends in Electric Vehicle Market

Key Trends—Explained

Key Trends—Explained (continued)

Key Trends—Explained (continued)

Key Trends—Explained (continued)

Key Trends—Explained (continued)

Forecasts and Trends—Market Engineering Measurements

Thailand EV Sales Long-term Forecast

Forecasts and Trends—Forecast Scenario Assumptions

Thailand EV Sales Near-term Forecast

Thailand Electric Vehicle Market—Future Outlook

FOMM—Company Overview

FOMM—Product Description and Features

FOMM—Key Collaborations/Investments and Commercial Performance

Mine Mobility—Company Overview

Mine Mobility—Product Description and Features

Mine Mobility—Key Highlights/Collaborations

Global Trends

Global Trends (continued)

ASEAN Market Opportunity

ASEAN Market Opportunity (continued)

ASEAN EV Imperative

Policy Landscape—Overview

Policy Intent

Policy Intent (continued)

Challenge

Challenge (continued)

Perspectives for ASEAN

Growth Opportunity 1—Opportunities for New Entrants

Growth Opportunity 2—EV Adoption in Shared Mobility

Strategic Imperatives for Success and Growth

The Last Word—3 Big Predictions

Legal Disclaimer

Table of Acronyms

List of Exhibits

List of Exhibits (continued)

List of Exhibits (continued)

The Frost & Sullivan Story

Value Proposition—Future of Your Company & Career

Global Perspective

Industry Convergence

360º Research Perspective

Implementation Excellence

Our Blue Ocean Strategy

Related Research
In 2018, the penetration of electric vehicles, including Plug-In Electric Vehicles (PHEVs) and Battery Electric Vehicles (BEVs) in the total auto sales in Thailand was less than 1%. For instance, there were only 57 units of BEVs and 8,745 units of PHEVs were sold. PHEVs in the Thai market are premium vehicles and there are no mass-market models available presently. Some key models include BMW 330e, 530e, Mercedes C300e, S560e, Porsche Cayenne E-Hybrid, Porsche Panamera SE- Hybrid, and Volvo XC60, S90, and XC90. BYD and Hyundai are presently the market leaders in terms of BEV sales in Thailand. Participants that have recently entered into the BEV space in Thailand are Audi, Nissan, MG Motors, and Jaguar. Urbanization, change in vehicle ownership, autonomous driving developments, EVs, and Thailand 4.0 are some Mega Trends in the automotive industry in Thailand. Urbanization will drive economic growth in secondary cities of Thailand and will help narrow down the income gap between rural and urban cities. Looking ahead, the Thailand EV market is expected to grow at a CAGR of 21.6% from 2018 to 2025. The Total Industry Volume (TIV) is expected to reach 34,603 units in 2025 compared to 8,802 units in 2018.--BEGIN PROMO--

Research Scope

The aim of this study is to evaluate the electric vehicle market in Thailand. The scope is limited to BEVs and PHEVs and excludes Hybrid Electric Vehicles (HEVs) that do not require charging. The study focuses on the incentives offered by the government to promote manufacturing and sales of EVs. It also describes factors that drive and restraint market growth and provides existing key trends in the market.

Key Features

  • To provide a strategic overview of the electric vehicle market, encompassing BEVs and PHEVs, in Thailand
  • To analyze the supply- and demand-side scenario, key perks and benefits offered by the government
  • To quantify the market in terms of size, i.e., the number of vehicles sold by category and forecast
  • To identify market trends, such as new product launches, strategic alliances, and collaborative services
  • To evaluate the growth opportunities for stakeholders
  • To identify new business models emerging in the electric vehicle ecosystem

Key Issues Addressed

  • What are the current and future market trends of the electric vehicle market in Thailand?
  • How will the market transform in 2019, in terms of the geographic growth?
  • What are the current and future market trends in the electric vehicle charging infrastructure market?
  • Which models are likely to be launched in the next 2 to 3 years?
  • What are the incentives available on the purchase and manufacture of electric vehicles in Thailand, and how will they impact the sales of an electric vehicle in the country?
More Information
No Index No
Podcast No
Author Bakar Sadik Agwan
Industries Automotive
WIP Number PAA8-01-00-00-00
Is Prebook No
GPS Codes 9673-A6,9800-A6,9882-A6,9AF6-A6