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

KEY FINDINGS

• The Chinese commercial vehicle market surpassed 5 million units for the first time in 2020, a record high.

• Trucks accounted for more than 90% of the market by volume.

• After a slow start in 2020, the market peaked in sales between October and November.

• The light buses had 334,400, a 6.5% increase.

• In 2020, electric buses in China accounted for ~12% of total bus sales. Volume fell 12.3% to XX.

• The truck market leaders are Futon, Dongfeng and Sinotruck. On the other hand, in the bus segment, three major players: JMC, SAIC Maxus and BAIC Foton dominated the market, accounting for 44% of the total.

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CHINA COMMERCIAL VEHICLE MARKET DYNAMICS

Truck sales surged ~22% y/y in 2020, driven by heavy truck sales that grew 38% last year. Truck sales in China are growing much faster than commercial vehicle sales in China.

In 2020, exports of buses from China fell by almost 35%, with volumes of around 41,400.Total exports accounted for 9.40% of China's total bus sales. Exports of medium-sized buses were the hardest hit, with exports in the sector declining by nearly 50%.

CHINA COMMERCIAL VEHICLE MARKET SEGMENTATION

By Vehicle Type

• Trucks
• Buses

By End Use

• Domestic
• Exports

By Propulsion Type

• Gasoline
• Diesel
• Electric

LATEST DEVELOPMENTS IN CHINA COMMERCIAL VEHICLE MARKET

• In June 2021, Foton AUV BJ6122 intercity bus was officially launched in Lianyungang. This bus is aimed at the high-performance market. The bus can dynamically adjust its power output according to road conditions.

• Zhongtong has successfully developed the L4 autonomous bus. Zhongtong's latest innovations enable long-distance travel, route planning, traffic light identification and obstacle avoidance. They are one of the leaders in the domestic fuel cell bus market.

• In January 2021, Huawei and Chinese autonomous truck startup Trunk signed a partnership to research, develop and sell smart port-related products.

CHINA COMMERCIAL VEHICLE MARKET SIZE AND FORECAST

China's bus market (ICE+Electric) is estimated at $10 billion annually. China's self-driving bus route will reach 300 km by 2022, making it the world's longest bus route.

The pioneer of autonomous bus market, Ankai autonomous bus has already started service in Shenzhen, Wuhan, Tianjin, Hefei, Macau and Zhangjiajie.

Chinese bus manufacturers using new energy sources are constantly working to reduce the weight of their buses in order to increase their efficiency.

Foton AUV has made an important breakthrough in reducing the weight of the new BJ6123 electric powered city bus featuring an aluminum construction body. Foton was able to reduce the weight to 1000kg, increasing efficiency by 6-9%.

CHINA COMMERCIAL VEHICLE MARKET 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

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

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This release was published on openPR.