China Truck Market Top Key Players – Foton, Dongfeng, SInotruck, Great Wall, Chang’an, JMC, FAW Jeifang, SHACMAN

China truck market is estimated at $XX Billion in 2020. It is estimated to grow at XX% CAGR in the period 2021-2026. A significant rise of E-commerce is making it one of the fastest-growing mini-truck segments and OEMs are competing in terms of providing good fuel-efficiency and high payload carrying capability.

Chinese trucks have created a lot of demand in the Latin American countries and the Chinese manufacturers have been setting up plants in these countries to assemble the trucks instead of exporting the entire vehicle. Top players in China will start setting up entire production plants in countries Columbia, Peru, Paraguay and others in order to reduce the overall cost of the vehicle.

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CHINA TRUCK MARKET DYNAMICS

Unlike 2020, the start of 2021 has shown a lot of promise to be the most selling year for trucks in the country. After the first 4 months of 2021, in the light trucks segment volumes have witnessed a growth of 49% for the same period in 2020. In 2021, the sales numbers of light trucks in the period were 814,000.

From January to April in 2021 the total sales volume of tractor trucks reached 366,000 units, up by 45% Y-o-Y. Beiben is the market leader in the segment as it witnessed a growth of 205% Y-o-Y, followed by Dongfeng.

CHINA TRUCK MARKET SEGMENTATION

By Vehicle Type
• Light Trucks
• Medium/Mid-Size Trucks
• Heavy Trucks
• Tractor Trucks

By End Use
• Domestic
• Exports

By Propulsion Type
• Gasoline
• Diesel
• Electric

CHINA TRUCK MARKET POWERTRAIN TRENDS

The light trucks have 3.5T-8T GVW, vehicle length shorter than 7 meters, two axles, and with the engine power nearly 80-160 kW (the OEMs use the Japanese or Cummins engines on their Light commercial vehicles).

The medium-duty trucks have 7.5T-12.0T GVW, vehicle length shorter than 13 meters, two to three axles, and with the engine power between 80-140kW.

The Heavy trucks have GVW above 14T, vehicle length longer than 13 meters, with more than three axles with the engine power up to 500HP (Many vehicles use the Cummins engines with higher engine power).

LATEST DEVELOPMENTS IN CHINA TRUCK MARKET

• CNHTC’s first pickup model VX7, particularly designed for the high-end market, will be launched by the end of 2021. The vehicle is powered by 2.0T gasoline powered engine and Shengduan 8AT transmission gearbox and can achieve max power of 221 HP

• In May 2021, SAIC Hongyan delivered 1,000 units of electric heavy-duty trucks to Tangshan to transport products from Tangshan Steel. SAIC Hongyan is powered by 282 kwh batteries made by CATL.

COMPETITIVE LANDSCAPE
Unlike the bus market in China, the truck market is more consolidated and there are about 15-16 major players. In terms of light trucks, the top 10 players accounted for ~90% of sales in 2021 and top 5 of them account for 62% of that. Foton, Dongfeng and JAC are the top 3 players in the light trucks segment. These 3 cumulatively account for 42% of sales volume, with Foton being the market leader with XX% share.

In the heavy trucks segment the top 10 players account for ~99% of the overall volume. Out of which top 5 players alone account for ~88% of the sales. FAW Jeifang, Sinotruck and Dongfeng are the market leaders in the heavy trucks segment. The top 3 players account for 66% of the sales volume and FAW Jeifang is the market leader with XX% share.

COMPANY PROFILES
Foton
Dongfeng
SInotruck
Great Wall
Chang’an
JMC
FAW Jeifang
SHACMAN
Hongyan
Dayun
SAIC Maxus
Feidi
Jiebei
XCMG

Read More Information: https://mobilityforesights.com/product/china-truck-market/

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This release was published on openPR.