China Battery Electric Vehicle (BEV) Market Industry Size, Growth, Trends, Share and Forecast 2025

China battery electric vehicle market is estimated to grow at a CAGR of more than 18.0% during the forecast period. The country is the largest automobile and electric vehicle market globally. More than 50% of the electric vehicle stock is in China until 2019. Government support and incentives are some of the major factors for the growth of BEV in the country. However, a downfall was recorded in 2019, when the government removed financial subsidies on electric cars. The country has one of the largest reserves of Lithium due to which it aims to reduce its dependence on fossil fuel. High air pollution and the need to reduce carbon footprints are some of the other factors due to which the government promoted electric vehicles in the country. Government regulations to demotivate the fossil fuel vehicle is expected to further drive the market in the country.

Get Sample Copy of Battery Electric Vehicle (BEV) Market at: https://www.omrglobal.com/request-sample/china-battery-electric-vehicle-bev-market

Some of the major companies contributing to the market include BYD Auto Co., Ltd., SAIC Motor Corp. Ltd., BAIC Group, Chery Automobile Co., Ltd., Dongfeng Motor Corp., Great Wall Motors Co. Ltd., Hyundai Motor Co., Jaguar Land Rover Ltd., Nissan Motor Co., Toyota Motor Corp., Renault Group, Tesla, Inc. and so on.

The market is segmented on the basis of vehicle type and battery type. Based on vehicle type, the market is further classified into commercial vehicles, passenger cars, and others. During the forecast period, the passenger vehicle market is forecast to hold the largest market share in the country. Based on the battery type, the market is sub-segmented into NiMH, Li-Ion, and others. Li-ion BEVs segment is projected to cover a major market share during the forecast period.

For More Information, get A full report of Battery Electric Vehicle (BEV) Market is available at: https://www.omrglobal.com/industry-reports/china-battery-electric-vehicle-bev-market

The market players are considerably contributing to the market growth by adopting various growth strategies including new product launch, merger and acquisition, collaborations with government, and technological advancements to stay competitive in the market. In March 2020 Toyota Motor Corp. announced to invest around $1.22 billion in manufacturing new electric vehicle manufacturing units which will manufacture around 200,000 BEV, PHEV, and fuel cell vehicles.

Market Segmentation

Battery Electric Vehicle Market by Vehicle Type

o Passenger Car
o Commercial Vehicle
o Others

Battery Electric Vehicle Market by Battery Type

o NiMH
o Li-Ion
o Others

For more customized data, request for report customization @ https://www.omrglobal.com/report-customization/china-battery-electric-vehicle-bev-market

Media Contact:

Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: info@omrglobal.com
Contact no: +1 646-755-7667, +91 7803040404

About Orion Market Research

Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.

For More Information, Visit https://www.omrglobal.com/

This release was published on openPR.