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[Global Viewer - Data on people living overseas] EV markets in ASEAN countries

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The new vehicle market in ASEAN is projected to recover to pre-Corona disaster levels by 2022, approaching 4 million units across ASEAN, making it the fastest changing and growing market in the world.
Based on Intage's Global Viewer of overseas sei-katsu-sha data (conducted in 2024), we compared future EV purchase intentions by country.

Shades of EV Needs in Asian Countries

In some markets, such as China, which has been leading the EV market in recent years, EV enthusiasm is high, while in other markets, EV enthusiasm has yet to grow, and there appear to be shades of EV needs in East Asia + ASEAN countries.

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Figure 1 : EV intention rate by country(Base: Men and women aged 18-64 in each country)
(Source: Intage Global Viewer (2024))

EV in Vietnam

Vietnam's EV intentions are high, which may be strongly influenced by the presence of its own manufacturer, Vinfast.
VinFast is an automobile manufacturer established in 2017 by Vietnam's largest conglomerate, the Vinh Group, to enter the automobile industry. Initially, the company developed and manufactured internal combustion engines, but by 2022, it has steered the company toward becoming a dedicated EV manufacturer. At the same time, the group's abundant financial resources have enabled it to incorporate the knowledge (design and technical capabilities) of various European and US manufacturers.

In recent years, VinFast has accelerated its overseas expansion, sending the VF8, an SUV-type electric vehicle, to the United States as the first overseas export for a Vietnamese automaker. Going forward, the company plans to manufacture 500,000 units annually by 2025.
As in the Chinese market, the presence of a dedicated EV manufacturer in a country is likely to have a significant impact on the expansion of that country's EV market.

EV in Thailand and Indonesia

On the other hand, in Thailand and Indonesia, the main markets for automobiles in ASEAN, the intention to purchase EVs is not that high, remaining at around 20%.
In these two countries, Chinese manufacturers have entered the EV market one after another over the past few years, but there is still a strong need for hybrid vehicles.

Figure 2 : Engine types for the next and subsequent years (single response conversion)(Base: Men and women aged 18-64 in each country)
(Source: Intage Global Viewer (2024))

With EVs expected to capture a certain share of the global market in the future, it will be necessary to consider how to protect the most important market for Japanese manufacturers (the hybrid market), not only by responding to EVs, but also by taking measures to meet existing needs.

Translated with AI Translator

What is Global Viewer?

A service that provides reports tailored to your needs, using questionnaire data on the various circumstances and attitudes of consumers in 11 countries (Asia and the US) that INTAGE has in stock.
The items covered include 400 items on the actual circumstances and attitudes of consumers regarding various product and service categories (*), as well as their values and information contact.


(*) Examples of categories:
Food and beverages, personal care and cosmetics, household care, childcare and nursing care, mobility, home appliances, smart homes, housing, entertainment content (games, music, etc.), finance, insurance, travel (inbound to Japan), online services, etc.


In addition to the country-by-country comparison analysis introduced in this article, it is also possible to conduct analysis by attribute (sex, age, income, etc.) within a single country.


For details, click here.

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  • Intage Inc

    Author profile
    Kenichiro Takahashi

    After working on a number of global research projects in the mobility industry, he has been involved in overseas business promotion, the development of global research services, and the development of new solutions since 2023.

  • Intage Inc

    Editor profile
    Risa Takahama

    In charge of creating the Global Market Surfer website.
    After mainly working on supporting overseas marketing research for Japanese consumer goods manufacturers, she is currently developing solutions for overseas marketing research for Japanese companies and disseminating information externally through seminars and other means.

  • Feb 12, 2025
  • 905 Views

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