Japan Electric Vehicles Market Forecast to Reach US$2.68 Billion by 2030 as Compact EVs, Charging Infrastructure and Battery Innovation Drive Growth

What happened: A ResearchAndMarkets databook forecasts Japan's electric vehicle market will grow to about US$2.68 billion by 2030, with compact EVs, charging infrastructure and battery innovation cited as growth drivers. Key numbers: US$1.84 billion in 2025. US$1.99 billion forecast for 2026, up 7.9% annually. CAGR of 7.3% during 2021-2025 and 7.7% from 2026 to 2030. Why it matters: The report says automakers including Toyota and Honda keep a multi-pathway strategy across BEVs, PHEVs, HEVs and FCEVs. Kei cars, delivery vans and urban fleets are seen leading near-term BEV growth. Market: +0.6% by next close ($32.70 on Oct 9), +11.6% YTD Coverage: 3 outlets in 24h

A ResearchAndMarkets databook forecasts Japan's electric vehicle market will grow to about US$2.68 billion by 2030, with compact EVs, charging infrastructure and battery innovation cited as growth drivers.

The report says automakers including Toyota and Honda keep a multi-pathway strategy across BEVs, PHEVs, HEVs and FCEVs. Kei cars, delivery vans and urban fleets are seen leading near-term BEV growth. Market: +0.6% by next close ($32.70 on Oct 9), +11.6% YTD