China Commercial Vehicle Market Top Key Players – Foton, Dongfeng, SInotruck, JMC, Nanjing Iveco, SAIC Maxus Wuling, SHACMAN, Zhengzhou Yutong Bus Co. Ltd., Haige Bus((Suzhou Jinlong), Jinlong Bus

The Commercial Vehicle market in China reached record volumes in 2020 as it crossed the 5M units mark for the first time. In 2020 Electric buses in China accounted for ~12% of total bus sales. The volume dropped by 12.3% to XX. The market leaders in the trucks segment are Foton, Dongfeng and Sinotruck. Meanwhile, in the buses segment the market was dominated by the top 3 players JMC, SAIC Maxus and BAIC Foton who accounted for ~44% of the overall volume.

Pioneers in autonomous bus driving market Ankai autonomous buses have already been put into service in Shenzhen, Wuhan, Tianjin, Hefei, Macau and Zhangjiajie. Chinese new energy bus manufacturers are continuously trying to reduce the weight of the buses to enhance the efficiency of the vehicle. The number of fuel cell vehicles in China is expected to reach one million units between 2030 and 2035.

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CHINA COMMERCIAL VEHICLE MARKET

In 2020, the CV sales in China recorded the biggest jump in the last 10 years with an 18% increase Y-o-Y to 5.1M units. It was the first time the annual CV sales in China crossed 5M units. The CAGR of CV sales in China for the last 5 years (2015-2020) is ~8.1%.

CHINA COMMERCIAL VEHICLE MARKET DYNAMICS

In 2020, truck sales witnessed a steep rise of ~22% Y-o-Y, primarily attributed to Heavy Duty Truck Sales which grew by 38% last year. Truck sales in China are growing at a much faster rate compared to commercial car sales in China.

In the bus market, top 10 players accounted for ~82% of the overall sales, with JMC acquiring the top spot with ~21%. SAIC Maxus and BAIC Foton were positioned at 2nd and 3rd place with 13.6% and 9.7% market share.

CHINA COMMERCIAL VEHICLE POWERTRAIN TRENDS

• The LCVs produced by Sinotrucks consist of a 5-speed transmission which has a load-carrying capacity up to 10 Tons with two-axle configuration.
o Whereas, Medium & Heavy trucks from the same brand are provided with in house manufactured 10-speed manual gearbox (10F+2R) which can be carrying GVW up to 50Tons.

• The transmission for Foton’s Light Commercial Vehicles is sourced from ZF which is 6 Speed and has a load-carrying capacity up to 12 Tons with two-axle configuration.

o Medium & Heavy trucks are provided with 12, 14 & 16 Speed manual synchromesh gearbox and providing TraXon automatic transmission as an option for AUMEN EST-A model truck for long haul application.

• The load carrying capacity of FAW ‘s LCVs are comparatively lower as it can withstand up to 8 tons only. These vehicles are equipped with 6-speed transmission (5F+1R)
o The Medium Commercial Vehicles are provided with 8, 9 & 10 speed transmissions which have GVW up to 30 tons with 3-axle configuration.
o Heavy Vehicles from FAW have 12-speed transmission (10F+2R) which has GCW (Tractor trailer) up to 50 Tons with three Axle trailers for tractor trucks and GVW of 48 Tons for Rigid trucks with 5-axle configurations.

CHINA COMMERCIAL VEHICLE MARKET SEGMENTATION
By Vehicle Type
• Trucks
• Buses

By End Use
• Domestic
• Exports

By Propulsion Type
• Gasoline
• Diesel
• Electric

COMPETITIVE LANDSCAPE
In 2020, combined sales volume of the top ten players in the commercial vehicle accounted for 79.8% of the industry’s total. The top 5 manufacturers accounted for almost 54% of the overall volume. China’s bus market has 25 players in total, accounting for 0.5 million units in 2020.

In the truck market there are about 15-16 major players. The top 10 players account for ~80% of the market. The top 3 players in the trucks market were Foton, Dongfeng and Sinotruck accounting for 35.4% of the overall market in 2020.

COMPANY PROFILES
Foton
Dongfeng
SInotruck
JMC
Nanjing Iveco
SAIC Maxus Wuling
SHACMAN
Zhengzhou Yutong Bus Co. Ltd.
Haige Bus((Suzhou Jinlong)
Jinlong Bus
Higer Bus Company Limited
Foton Ouhui
Shenlong Bus
Golden Dragon
BYD Company Limited
Nenault Brilliance
Kaiwo Automobile (Nanjing Jinlong)
Zhongtong Bus Holding Co. Ltd.
Ankai Bus

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