ASEAN Electric Vehicle Market Outlook: Trends, Disruptions, and Recovery Path

 


The ASEAN Electric Vehicle (EV) Market is on a fast track to growth. According to Mordor Intelligence, the market is projected to increase from USD 1.51 billion in 2025 to USD 6.23 billion by 2030, registering a CAGR of 32.73% during the forecast period. This forecast underscores the region’s accelerating shift toward electric mobility, supported by policy interest, consumer awareness, and industrial recovery.

Market Recovery Post-Disruption

The road to this projected growth has not been without setbacks. The COVID-19 pandemic brought much of the ASEAN region's manufacturing to a halt during the first half of 2020. Production facilities shut down, supply chains were interrupted, and overall industry activity slowed significantly.

In 2021, as economies reopened, the industry faced another challenge a global shortage of semiconductor chips. These chips are critical components in both conventional and electric vehicles, and their scarcity limits production capacity across several countries.

Despite these hurdles, the automotive sector has shown resilience. With improved production capacity and renewed investments, the market is now regaining momentum.

Explore Our Full Library of Automotive Research Industry Reports –

https://www.mordorintelligence.com/industry-reports/asean-electric-vehicle-market?utm_source=blogger

What’s Fueling the Growth?

Several factors are contributing to the strong forecast for the ASEAN EV industry:

  • Rising Environmental Awareness: Consumers across Southeast Asia are becoming more conscious of emissions and sustainability, encouraging the adoption of cleaner vehicle options.
  • Supportive Government Policies: Various ASEAN governments are introducing incentives and regulations to promote EV adoption, including tax exemptions, subsidies, and infrastructure support.
  • Manufacturing Capacity: Countries such as Thailand, Indonesia, and Vietnam are expanding their automotive manufacturing sectors with a focus on electric vehicles.

Market Outlook: 2025 to 2030

As the market stabilizes from earlier disruptions, the next five years are expected to see:

  • Increased EV model launches tailored to regional needs
  • Expansion of EV charging infrastructure
  • Investment in local battery and component production

These developments are not just driving up market size, they're creating a more resilient and competitive ecosystem for future growth.

Conclusion

The ASEAN electric vehicle market is emerging as a key growth area in the global automotive landscape. With a projected rise from USD 1.51 billion in 2025 to USD 6.23 billion by 2030, the industry is entering a period of rapid development backed by consumer demand, supportive policies, and manufacturing revival.

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