What is the current Singapore Electric Vehicle Market size?

The Singapore Electric Vehicle Market is projected to register a CAGR of 32.73% during the forecast period (2024-2029) Read More

Who are the key players in Singapore Electric Vehicle Market?

BMW AG, Hyundai Motor Company, Tesla Inc., MG Motor and AB Volvo are the major companies operating in the Singapore Electric Vehicle Market. Read More

What years does this Singapore Electric Vehicle Market cover?

The report covers the Singapore Electric Vehicle Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Singapore Electric Vehicle Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

What are the key challenges faced by the Singapore EV Market?

Major challenges faced by the Singapore Electric Vehicle Market are a) Infrastructure development b) High initial investment costs c) Consumer acceptance issues Read More

Singapore Electric Vehicle Market Size & Share Analysis - Industry Research Report

Singapore Electric Vehicle Market Size - Industry Report on Share, Growth Trends & Forecasts Analysis (2024 - 2029)

Singapore Electric Vehicle Market is segmented by Vehicle Type (Passenger Vehicle and Commercial Vehicle), Drive Train Technology (Battery Electric Vehicle, Plug-in Hybrid Electric Vehicle, and Fuel Cell Electric Vehicle). The report offers the market size and forecast for Singapore Electric Vehicle Market in terms of value (USD Million) for all the above segments.

Singapore Electric Vehicle Industry Overview

Singapore Electric Vehicle Market is dominated by several key players, including Hyundai Motor, Tesla Inc., BMW Group, MG Motors, and Volvo Group. Several vehicle manufacturers are investing in the country to enhance electric vehicle sales during the forecast period. For instance,

December 2022: Renault Singapore announced it would transition to full electrification, with the first model in the company's Electric Vehicle (EV) lineup set to debut in 2023. The move is in line with Renault's global directive to expand its electric mobility offerings, as well as Singapore's Green Plan 2030.
January 2022: Hyundai Motor Company invested USD 295 Million to develop the new Hyundai Motor Group Innovation Center (HMGICS) in Singapore features an electric car factory with targeted production of 30,000 electric vehicles by 2025.