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China Electric Vehicle Market to surpass 30.21% CAGR up to 2028

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China Electric Vehicle Market to surpass 30.21% CAGR up to 2028

September 29
01:50 2020
China Electric Vehicle Market to surpass 30.21% CAGR up to 2028

Research Nester
“China remained the world’s largest electric car market with nearly 1.1 million electric cars sold in the year 2018” ~ Global EV Outlook 2019, International Energy Agency

“China remained the world’s largest electric car market with nearly 1.1 million electric cars sold in the year 2018”

Global EV Outlook 2019, International Energy Agency

Research Nester has released a report titled “China Electric Vehicle Market – Regional Demand Analysis & Opportunity Outlook 2028” which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter’s five force model.

The survey report titled “Global EV Outlook 2019”, of the International Energy Agency, stated that electric car sales in China increased from nearly 600,000 numbers in the year 2017 to 1.1 million numbers in the year 2018, accounting for 55% of the share of global electric car market. Apparently, around 26 million electric two-wheeler vehicles were produced, and 54,000 electric LCVs were sold in the region in the same year. [Sample Copy Here]

The statistics portray the increasing sales and production of electric vehicles in the region, backed by constant focus of the government to curb severe air pollution issues in the nation. By the development of stringent norms for limiting sales of combustion-engine vehicles, coupled with the need to reduce its dependence on import of oil, along with favorable policies that focus on enhancing efficiency of electric vehicles, such major factors are anticipated to drive the growth of the China electric vehicles market. Additionally, driven by development of several new policies, for instance, New Energy Vehicle (NEV) mandate policy, along with other favorable policies by Electric Vehicles Initiative (EVI), the electric market in China is anticipated to thrive at a major pace in the upcoming years.

The Final Report will cover the impact analysis of COVID-19 on this [email protected] https://www.researchnester.com/sample-request-2265

The China electric vehicles market is anticipated to record a CAGR of 30.21% during the forecast period, i.e. 2020-2028. The market is segmented by vehicle type into passenger, commercial and other vehicles. The passenger segment is further segmented into cycles, scooters, bikes, cars and others. Among all these segments, passenger electric car segment is anticipated to hold the largest market share on account of increasing technological advancements observed in developing the battery technology, so as to enhance the efficiency of electric cars, along with cars contributing to the largest share of vehicular fleet in the region. Moreover, cars were majorly affected due to the ban on vehicles by the government for not complying with the emission standards, resulting in increased sales of electric cars and presence of world’s largest electric car fleet in the region. The survey report titled “Global EV Outlook 2019”, of the International Energy Agency, stated that China had around 45% of the world’s electric car fleet in the year 2018. Apparently, the stock of electric cars in the region almost doubled between 2017 and 2018 to reach 2.3 million.

However, concerns amongst electric vehicle manufacturers for the lowering of subsidies, affecting their profitability is estimated to act as a barrier to the growth of the China electric vehicle market.

Download a Sample Report with Table of Contents and Figures: https://www.researchnester.com/sample-request-2265

This report also studies existing competitive scenario of some of the key players of the china electric vehicle market, which includes profiling of SAIC Motor Corporation Limited (SHA: 600104), BYD Company Ltd. (SHE: 002594), BAIC Motor Corporation., Ltd. (HKG: 1958), Zhejiang Geely Holding Group, Chery Automobile Co., Ltd., Jiangling Motors Co. Ltd. (SHE: 000550), Jianghuai Automobile Group Corp. Ltd. (SHA: 600418), Changan Automobile Company Ltd. (SHE: 000625), Great Wall Motor Company Limited (SHA: 601633), and NIO Inc. (NYSE: NIO).

The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “China Electric Vehicle Market – Regional Demand Analysis & Opportunity Outlook 2028”, analyses the overall China electric vehicle industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the China electric vehicle market in the near future.

About Research Nester

Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment, etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision so as to avoid future uncertainties.

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