China Electric Vehicle Market size was volume at 1.48 Mn. Units. In 2020 and the total revenue is expected to grow at 17.1 % through 2021 to 2027, China Electric Vehicle Market is reaching nearly 4.47 Mn. Units by 2027.
China Electric Vehicle Market Overview:China is the world's largest car market. Automobile sales in 2020 were 25.3 million units, a 1.9 % decrease owing to COVID. This was the third consecutive year of negative YoY growth. Electric vehicles, on the other hand, increased by 10.9 % year over year to 1.4 million units, indicating a growing demand. The subsidies were extended for two more years, with a 10% reduction each year, In China, subsidies were the main force behind increased electric vehicle sales. In comparison to 972,000 battery electric vehicles and 232,000 sales in 2019, the market only registered 100,000 battery electric vehicle sales in 2020. In terms of overall performance, China has developed the world's largest electric vehicle market, industry, and the most prominent electric vehicle city markets as of 2020. This was accomplished in just a decade, and the country's total electric car sales over the last decade account for 47 % of the total. To know about the Research Methodology :- Request Free Sample Report The report has covered the market trends from 2016 to forecast the market through 2027. 2020 is considered a base year however 2020’s numbers are on real output of the companies in the market. Special attention is given to 2020 and effect of lockdown on the demand and supply, and also the impact of lockdown for next two years on the market. Some companies have done well in lockdown also and specific strategic analysis of those companies is done in the report.
Key Finding –1. China will become a significant export hub for automobiles. China possesses the required conditions to export vehicles on a large scale, fueled by technical progress, massive production capacity, and government assistance. 2. In 2020, BEVs accounted for 78 % of all EV sales. In March 2021, China had 212 BEV models on sale, compared to 41 in Europe and 22 in the United States. In 2020, Tesla Model 3 sold 140,000 units, making it the market leader. 3. The Chinese government directs and pressures Chinese and foreign carmakers based in China to export. The government's desire to nurture national champions has been pushed aside in favor of absorbing global value chains. The government is also establishing goals and disseminating information about foreign rules in order to aid Chinese EV manufacturers in their international expansion. 4. Chinese OEMs created enticing initiatives to combat the drop in EV sales once the subsidies was removed. For instance, BAIC New Energy EC5 implemented a "double exemption policy," which included interest-free loans and no down payment on automobile sales. 5. Manufacturers in China are rising up the value chain. Chinese automakers have surpassed traditional automakers in their ability to build desirable, safe, and technologically advanced electric vehicles. A few Chinese automakers have a chance to be among the worlds most successful. 6. In 2020, electric buses accounted for 83 % of all electric commercial vehicles sold. With a market share of 26%, Yutong is the market leader. 7. CATL leads the EV battery market with more than 53% market share, followed by BYD with 19% market share. In 2020, CATL will have a market share of more than 62 % of installed battery capacity in electric buses. 8. Chinese enterprises have become global rivals as a result of their international investments and alliances. As global rivalry in the automotive industry heats up, Chinese battery manufacturers and automakers are increasing their global reach. Companies are pursuing many ways to leverage multinational brands and access overseas markets, and exports are merely the tip of the iceberg. Charging in Future – In 2020, Beijing expects 100 % of parking lots connected to residential buildings to have charging piles, with 25 %, 20 %, and 15% of parking lots at companies, schools, and hospitals, correspondingly. In densely populated locations, EV users should be able to find at least one charging location within 0.9 kilometers, and within five kilometers in other parts of Beijing. The government's plan is fairly wide, and EV manufacturers and third-party corporations will be in charge of implementing it and owning the majority of the charging stations. Some EV manufacturers have elected to run their own charging stations, and the government will provide financial assistance to these businesses. For example, BYD, has already constructed 4,600 charging piles and expects to construct another 30,000.
China Public Charging Points -
China Electric Vehicle Market Dynamics:China lost ground to Europe in terms of electric vehicle market penetration in the first half of 2020. The market share of electric vehicles in Europe has risen rapidly from an annual average of 3% in 2019 to about 8% in the first half of 2020, and it is continuously rising. In October 2020, Germany's electric vehicle market share reached 17.5 %. In terms of brand competition, the market has not welcomed Chinese electric car brands. China's electric car strategy in the light-duty vehicle class has mostly focused on serving the home market, with minimal emphasis on exporting. In 2019, less than 1% of China's electric vehicle output was exported to other countries. This ratio is much lower than in the United States and Europe, implying that Chinese manufacturers have room to improve their competitiveness. The development of an inexpensive and accessible charging infrastructure to support the expanding number of electric cars is a major barrier to quick commercialization of EVs in China. While most charging stations are owned by third parties, the government has committed to installing 7,400 fast-charging (60-100KW) stations and 2.5 million charging units in parking lots, apartment buildings, and office complexes in Beijing, Tianjin, Hebei, Shanghai, and Guangdong provinces, with smaller numbers in second-tier regions and western provinces. by keeping electricity bills low, provincial governments are supporting almost 30% of the charging expenses. China has raised the technical requirement for the same after spending $3 billion on subsidies in 2018. For example, an EV acquired by a commercial fleet user would only be eligible for subsidies if its annual driving range surpassed 20,000 kilometers. Furthermore, automakers must develop platforms for monitoring the operating status of sold vehicles and connect them to a national regulation platform that was created in 2018. EV startups were the hardest hit when the EV market declined in H2-2019 owing to subsidy cuts, eventually pulling down full-year-2019 EV sales. For example, WEY, had a goal of selling 100,000 electric vehicles but only sold 17 % of them.
Chicness Companies to Watch –Xpeng - On April 19, 2021, an Xpeng P7 automobile is seen at the 19th Shanghai International Automobile Industry Exhibition in Shanghai. (AFP photo by Hector RETAMAL) The Guangzhou-based business offers three different electric vehicle models on the market, the G3, P5, and P7. Despite the restricted collection, the company has been breaking sales records, with total EV sales exceeding 10,000 units in October alone. Nio - The Shanghai-based business, which launched in 2014, currently sells three models in China, with a fourth set to arrive in early 2022. According to reports, the company has supplied 140,000 cars to consumers in China and is now looking to expand into Europe. The Shanghai-based startup, which was founded in 2014, presently sells three models in China, with a fourth on the way in early 2022. According to reports, the company has supplied 140,000 cars to consumers in China and is now looking to expand into Europe. Li Auto - Li Auto was founded in 2015 and is one of three New York-listed Chinese electric vehicle manufacturers vying for market share with Tesla. It has only one car in production at the moment: the Li One. Despite this, Li Auto has sold approximately 100,000 vehicles since deliveries began in early 2020, establishing itself as a viable competitor in the crowded EV market. Impact of Carbon Emission - In the three cities of Beijing, Shanghai, and Guangzhou, the GHG emissions for today's EV range from 10.44 to 17.94 kg-CO2eq/100 km. Taking total mileage into account, EV GHG emissions range from 15.66 to 26.92 t-CO2eq throughout the course of its lifetime, which is up to 43 % less than a comparable ICEV, which emits 27.36 t-CO2eq. The GHG emissions from the manufacturing phase of an EV, on the other hand, are in the range of 11.40-13.94 t-CO2eq, which is 0.93-3.47 t-CO2eq greater than the emissions from the manufacturing phase of an ICEV. As a result, when EVs replace ICEVs, our GHG emission reduction estimates are reduced by around 36% due to GHG emissions. EVs can help cut GHG emissions from the transportation sector by up to 6.2% in 2030 with a 20 % penetration rate, providing the carbon intensity of regional power networks continues to improve, despite greater GHG emissions in the manufacturing phase. These conclusions are based on a national average emission factor that overlooks regional variation. Actual emission reductions will be larger in southern China, where hydroelectricity generating is available, and lower in northern China, where coal-fired generation is still used.
China Electric Vehicle Market Segment Analysis: the China Electric Vehicle Market is segmented into Type, Vehicle class and Vehicle type.Based on Vehicle type, the market is sub-segmented into two –wheelers, Passenger vehicle and Commercial vehicles. Currently, passenger automobiles are in more demand than commercial vehicles, and this trend is expected to continue throughout the forecast period. The increase is linked to the growing population, which is feeding the demand for electric vehicles (EVs) and the government's strict pollution standards. For example, starting in July 2020, the Chinese government will apply China 6 pollution control criteria in the region, which are stronger than previous China 5 norms and are based on EURO 6 norms, resulting in increased demand for micro-hybrid vehicles in the region. The presence of multiple rivals, as well as the government's considerable backing, has propelled the battery-electric car market in China. China has extended the incentives for buying new energy vehicles (NEVs) until 2022. Non-automotive corporations, like as Alibaba, are also entering the country's quickly rising EV sector. For example, in January 2021, Alibaba Group partnered with SAIC Motor to introduce two electric cars in the country under the IM label (Intelligence in Motion). CATL provides the battery cells for these vehicles. The objective of the report is to present a comprehensive analysis of the China Electric Vehicle Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the China Electric Vehicle Market dynamics, structure by analyzing the market segments and project the China Electric Vehicle Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the China Electric Vehicle Market make the report investor’s guide.
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China Electric Vehicle Market Report Coverage Details Base Year: 2020 Forecast Period: 2021-2027 Historical Data: 2016 to 2020 Market Size in 2020: 1.48 Mn Units Forecast Period 2021 to 2027 CAGR: 17.1 % Market Size in 2027: 4.47 Mn Units Segments Covered: by Type • BEV • PHEV • HEV by Vehicle Class • Mid-Priced • Luxury by Vehicle Type • Two-wheelers • Passenger Cars • Commercial Vehicles
China Electric Vehicle Market Key Players• Tesla • BMW Group • Nissan Motor Corporation • Toyota Motor Corporation • Volkswagen AG • General Motors • Daimler AG • Energica Motor Company S.p.A. • BYD Company Motors • Ford Motor Company. • SAIC-GM Wuling • NIO • Xpeng • Li Auto • WM Motors • Geely • Byton • Zhiji • Xiaomi • Dongfeng Motors • Chang’an Automobile • Guangzhou Automobile
Frequently Asked Questions:1) What was the market size of China Electric Vehicle Market markets in 2020? Ans - China Electric Vehicle Market was worth 1.48 Mn Units. in 2020. 2) What is the market segment of the China Electric Vehicle Market? Ans -The market segments are based on Type, Vehicle class and Vehicle type. 3) What is the forecast period considered for China Electric Vehicle Market? Ans -The forecast period for China Electric Vehicle Market is 2021 to 2027. 4) What is the market size of China Electric Vehicle Market in 2027? Ans – China Electric Vehicle Market is estimated as worth 4.47 Mn Units. 5) Who are the top 5 Key players in China Electric Vehicle Market? Ans - SAIC-GM Wuling, NIO, Xpeng, Li Auto, WM Motors and Greely these are the top key players in china electric vehicle market.
1. China Electric Vehicle Market : Research Methodology 2. China Electric Vehicle Market : Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to China Electric Vehicle Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. China Electric Vehicle Market : Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by Country 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by Country 3.12. COVID-17.6 Impact 4. China Electric Vehicle Market Segmentation 4.1. China Electric Vehicle Market ,Type (2020-2027) • BEV • PHEV • HEV 4.2. China Electric Vehicle Market , by Vehicle Class (2020-2027) • Mid-Priced • Luxury 4.3. China Electric Vehicle Market , by Vehicle type (2020-2027) • Two-wheelers • Passenger Cars • Commercial Vehicles 5. Company Profile: Key players 5.1. Tesla 5.1.1. Company Overview 5.1.2. Financial Overview 5.1.3. Presence 5.1.4. Capacity Portfolio 5.1.5. Business Strategy 5.1.6. Recent Developments 5.2. BMW Group 5.3. Nissan Motor Corporation 5.4. Toyota Motor Corporation 5.5. Volkswagen AG 5.6. General Motors 5.7. Daimler AG 5.8. Energica Motor Company S.p.A. 5.9. BYD Company Motors 5.10. Ford Motor Company. 5.11. SAIC-GM Wuling 5.12. NIO 5.13. Xpeng 5.14. Li Auto 5.15. WM Motors 5.16. Geely 5.17. Byton 5.18. Zhiji 5.19. Xiaomi 5.20. Dongfeng Motors 5.21. Chang’an Automobile 5.22. Guangzhou Automobile