China Electric Vehicles Market 2020-2028 soaring demand in future scenario CAGR of 25% with BAIC Motors, Honda Motor Company, Geely Motors

Latest research on China Electric Vehicles Market report covers forecast and analysis on a worldwide, regional and country level. The study provides historical information of 2016-2021 together with a forecast from 2021 to 2026 supported by both volume and revenue (USD million). The entire study covers the key drivers and restraints for the China Electric Vehicles market. This report included a special section on the Impact of COVID19. Also, China Electric Vehicles Market (By major Key Players, By Types, By Applications, and Leading Regions) Segment’s outlook, Business assessment, Competition scenario and Trends. The report also gives 360-degree overview of the competitive landscape of the China Electric Vehicles industry.

China Electric Vehicles market is growing at a CAGR of 25% during the forecast period (2021-2026).

The China Electric Vehicles market is highly competitive and consists of a number of major players. Top Companies like BAIC Motors, Honda Motor Company, Geely Motors, SAIC Motors, BYD Co., Chery Motors, Jiangling Motors Corporation, JAC Motors, Changan Automobile, Great Wall Motors

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Industry News And Developments:

- In February 2020, Honda Motor Company, Ltd. has announced to begin its sales of all new Honda Fit Hybrid vehicles. It is equipped with Honda’s 2-motor hybrid system which drives the vehicle with an electric motor, which results a better fuel efficiency and smooth drive.

Scope of the Report

- With the growing environmental concerns, and rise in exhaust emissions, the country has been focusing on and working toward the development of sustainable transportation. This, in turn, has resulted in the electrification of its transport sector.

- During the forecast period, the country may also witness growth in the adoption of electric buses, as more than 30 Chinese cities have made plans to achieve 100% electrified public transit by 2020, including Guangzhou, Zhuhai, Dongguan, Foshan, and Zhongshan in the Pearl River Delta, along with Nanjing, Hangzhou, Shaanxi, and Shandong.

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Key Market Trends

Increasing Adoption of Electric and Hybrid Vehicles, due to Government Norms

With rapid urbanization and increase in the vehicle sales, China is determined to reduce the exhaust emissions from the vehicles. Meanwhile, the country also intends to reduce its dependence on oil imports, in turn, driving the demand for and sales of electric vehicles in the country.

Additionally, some major cities and provinces are imposing more stringent restrictions. For instance, Beijing only issues 10,000 permits for the registration of combustion-engine vehicles per month, in order to encourage its inhabitants to switch to electric vehicles.

Passenger Cars Segment Experience Highest Market Share

Currently, the passenger cars segment is experiencing more demand than commercial vehicles, and it is projected to continue its dominance during the forecast period. The growth is attributed to the increasing population which is catering to the growth in EVs and stringent government emission norms. For instance, The Chinese government is implementing China 6 norms for pollution control in the region which are stricter than previous China 5 norms and are based on EURO 6 norms, form July 2020, which results in supporting the demand of micro hybrid vehicles in this region.

What are the market factors that are explained in the report?

–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

–Analytical Tools: China Electric Vehicles Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market. 

The research includes historic data from 2015 to 2020 and forecasts until 2026 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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