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:
The China Electric Vehicle Market Report delves into the most recent industry studies on the China Electric Vehicle market, analyses potential and current market scenarios, and offers insights and updates on forecast periods for key segments (2020-2027). Global demand, product development, revenue creation, and China Electric Vehicle market sales and revenue are all covered in this study. Strong and bearish scenarios are presented in order to establish a total market valuation, taking into account China Electric Vehicle sales during the predicted period. Likewise, this research compares regional and big company variable costs to global average prices.
China has the largest automobile market in the world. COVID caused a 1.9 percent drop in automobile sales in 2020, to 25.3 million vehicles. This was the third year in a row that growth was negative year over year. Electric car sales, on the other hand, climbed by 10.9 percent year over year to 1.4 million units, demonstrating that demand is expanding. Subsidies were extended for another two years, with a 10% reduction each year. Subsidies were the primary driver of growing electric vehicle sales in China. In contrast to the 972,000 battery electric vehicles sold in 2019 and the 232,000 sales in 2020, the market only saw 100,000 battery electric vehicle sales in 2020. China has established the world's largest electric car market, industry, and most notable electric vehicle city markets, according to overall performance.
Segmentation:
Product categories, applications, end-users, and distribution or sales channel are all used to categorise the China Electric Vehicle market. The establishment of different segments will assist you in learning about the various growth components that are likely to be comparable across the sector, as well as establishing unique techniques to assist you in identifying significant application areas and differences in your target markets.
The market is divided into two categories: two-wheelers, and passenger and commercial vehicles. Passenger cars are currently in higher demand than commercial vehicles, and this trend is likely to continue over the forecast period. The rise is due to the country's rising population, which is fueling demand for electric cars (EVs) and the government's stringent pollution regulations. For example, beginning in July 2020, the Chinese government will implement China 6 pollution control requirements in the region, which are more stringent than previous China 5 standards and are based on EURO 6 standards, resulting in increased demand for micro-hybrid vehicles. The battery-electric car market in China has accelerated due to the presence of several competitors and the government's strong support.
The subsidies for purchasing new energy vehicles (NEVs) in China have been extended until 2022. Non-automotive companies, such as Alibaba, are also investing in the country's rapidly growing electric vehicle market. For example, Alibaba Group teamed with SAIC Motor in January 2021 to launch two electric automobiles in China under the IM label (Intelligence in Motion). The battery cells for these vehicles are supplied by CATL.
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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
For improved business strategies and competitive advantage, knowing your competitors' primary business plans, historical performance, and product and service portfolio is vital. The main players in the China Electric Vehicle market are examined in depth in this report.
Regional Analysis:
The research report gives insight into the China Electric Vehicle market, segmenting it into multiple regions. The research contains market findings as well as assessments of regional market players in the target industry. The report assesses the market in North America, South America, Europe, Asia Pacific (APAC), Africa, and the Middle East on a regional and country-by-country basis. Each region's market is thoroughly examined, allowing for the identification of regional market trends, restrictions, and prospective prospects.
COVID-19 Impact on China Electric Vehicle market Analysis:
This report looks at COVID-19's global influence on the China Electric Vehicle market. The report covers the China Electric Vehicle market's alternatives, hard conditions, and difficult possibilities in depth during the current crisis. The benefits and drawbacks of COVID-19 in terms of funding and market expansion, as well as ideas for designing and implementing corporate goals, are reviewed in this study report.
Highlights of the China Electric Vehicle Market Report:
- The structure and forecasts for the market over the forecast period.
- Market drivers, challenges, opportunities, and current trends.
- Statistics and forecasts for historical periods.
- Estimates for the forecast period of 2027.
- Recent developments and trends on the China Electric Vehicle market.
- The following is a market scenario by region, sub region, and country.
- A list of the global market players, their company profiles, product specifications, SWOT analyses, and competitive landscape.
- Market dynamics of downstream raw materials, upstream raw materials, and current raw materials.
- Report includes information about government policies, macroeconomic factors, and microeconomic factors.
Key Questions answered in the China Electric Vehicle Market Report are:
- Which product segment grabbed the largest share in the China Electric Vehicle market?
- How is the competitive scenario of the China Electric Vehicle market?
- Which are the key factors aiding the China Electric Vehicle market growth?
- Which region holds the maximum share in the China Electric Vehicle market?
- What will be the CAGR of the China Electric Vehicle market during the forecast period?
- Which application segment emerged as the leading segment in the China Electric Vehicle market?
- Which are the prominent players in the China Electric Vehicle market?
- What key trends are likely to emerge in the China Electric Vehicle market in the coming years?
- What will be the China Electric Vehicle market size by 2027?
- Which company held the largest share in the China Electric Vehicle market?
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