NAURU ELECTRIC VEHICLE MARKET

INTRODUCTION

One of the Small Island Developing States (SIDS) most at risk from the effects of climate change is Nauru, which faces an existential threat from rising sea levels, a loss of biodiversity due to rising sea temperatures, and extreme weather events.

In order to solve the climate problem, Nauru has been vocal on a worldwide scale about the need for more climate action.

Nauru is dedicated to promoting renewable energy use and energy efficiency at the national level as well as to meeting the Sustainable Development Goals.

The Nauru Energy Road Map specifically mentions the need to implement energy efficiency regulations in the transportation industry and look into workable alternatives to gasoline and diesel, such as LPG, hybrid, and electric (run on renewable energy) vehicles, including buses.

NAURU ELECTRIC VEHICLE MARKET SIZE AND FORECAST

The Nauru Electric Vehicle Market accounted for $XX Billion in 2021 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2022 to 2030.

MARKET DYNAMICS

Risky deep-ocean mining occurs in Nauru as a result of the scramble for electric vehicle components.

The smallest island republic in the world is Nauru, which is located halfway between Australia and Hawaii in the enormous Pacific Ocean. But it punches way above its weight in the new field of deep-sea mining.

The International Seabed Authority (ISA), a UN body tasked with regulating mining in international waters, was notified by Nauru that the so-called two-year rule was about to be activated.

The ISA will now be required to consider any applications for a deep-sea mining licence under whatever regulations are in effect at that time.

Potato-sized bits of metals and minerals known as polymetallic nodules, which are essential to the clean-technology components required for the shift away from fossil fuels, including lithium-ion batteries, solar panels, and wind turbines, are what Nauru is aiming to extract from the depths.

For instance, the Democratic Republic of the Congo is currently the largest source of cobalt, which is used in rechargeable batteries, including those in electric vehicles.

There, investigators have discovered instances of child labour and horrifying tales of worker death and injury.

COVID-19 IMPACT

The COVID-19 epidemic has had an effect on Nauru, a small island nation in the Pacific Ocean, just like it has on the rest of the world. The epidemic has produced serious economic problems and impacted a number of sectors. The epidemic has had both beneficial and negative effects on the electric vehicle industry in Nauru. Due to Nauru's dedication to sustainability and lowering its carbon footprint, electric cars have become more commonplace in recent years.

As part of its attempts to make the transition to a more sustainable future, the government has been encouraging the usage of electric vehicles. But for a number of reasons, the COVID-19 outbreak in Nauru has hindered the expansion of the electric vehicle sector. The interruption in the electric car supply chain is one of the primary causes.

The epidemic forced several nations that make electric vehicles or their components to shut down or scale back their operations. Due to the resulting lack of electric cars and parts, delivery was delayed, and costs increased. Nauru is susceptible to similar supply chain disruptions since it imports a lot of electric vehicles and their components. The decline in demand for electric vehicles is another effect of the COVID-19 epidemic on the sector in Nauru.

Due to the economic crisis brought on by the epidemic, many people had to reduce their expenditures. Since they are often more expensive than standard automobiles, many individuals find it harder to afford electric vehicles. Demand has decreased as a result of individuals being less willing to buy pricey electric vehicles due to the uncertain economy.

Positively, the COVID-19 epidemic has brought attention to how crucial sustainability and lowering carbon emissions are. Global carbon emissions have significantly decreased as a result of the epidemic, making the world cleaner and safer. The necessity of lowering carbon emissions and switching to more environmentally friendly forms of transportation, including electric cars, has therefore been more widely recognized.

The government of Nauru has continued to encourage the usage of electric cars and has put in place incentives to encourage their adoption. A change in people's travel habits has also been brought on by the COVID-19 epidemic. People have been forced to discover alternate forms of transportation as a result of lockdowns and travel restrictions implemented by numerous nations.

The need for automobiles has decreased as a result of the rise in cycling and walking. Nauru is a great site for cycling and walking because of its small size and close proximity to other points on the island. In order to make these forms of transportation safer and more easily available, the government has been encouraging them and making infrastructural investments.

COMPANY PROFILE

• Siemens Software
• L&T Technology Services
• Eaton
• Kalmarglobal
• ‎BYD

THIS REPORT WILL ANSWER FOLLOWING QUESTIONS

1. How many Electric Vehicles are manufactured per annum in Nauru ? Who are the sub-component suppliers in different regions?
2. Cost breakup of a Nauru Electric Vehicle and key vendor selection criteria
3. Where is the Electric Vehicle manufactured? What is the average margin per unit?
4. Market share of Nauru Electric Vehicle manufacturers and their upcoming products
5. Cost advantage for OEMs who manufacture Nauru Electric Vehicle in-house
6. key predictions for next 5 years in Nauru Electric Vehicle
7. Average B-2-Bl Nauru Electric Vehicle price in all segments
8. Latest trends in Nauru Electric Vehicle, by every market segment
9. The market size (both volume and value) of the Nauru Electric Vehicle market in 2022-2030 and every year in between?
10. Production breakup of Nauru Electric Vehicle, by suppliers and their OEM relationship