China Electric Vehicle Market size was valued US$ XX Mn in 2019 and the total revenue is expected to grow at XX% through 2020 to 2027, reaching US$ XX Mn. The report has covered country wise market trends with competitive landscape.
China Electric Vehicle Market
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China Electric Vehicle Market Drivers & Restraints:
The Chinese government had introduced subsidies in 2010 to promote electric vehicle sales, driven in large part by its desire to cut pollution levels. China’s electric vehicle industry has also promoted from other government regulations aimed at shifting buyers away from internal combustion vehicles. For example, securing a license plate for a new vehicle could take up to a year in various Chinese cities, but in the case of electric, license plates are allotted along with the vehicle. China’s increasing electric vehicle industry is headed for some price competition followed by a shakeout.
The competitive landscape for China’s electric vehicle market is changing intensely on many fronts. Some 500 manufacturers have registered to make Electric vehicle in the country. Global automakers like GM & Volkswagen are also anticipated to intensify their efforts in China, bringing superior technology & brand recognition. China has the largest number of EV on the road. The improved purchasing power of the buyers has made China the largest consumer market worldwide.
Government policies:
China offered substantial subsidies as an initiative to promote electric vehicle. Additionally, exemption from license-plate lotteries & registration fees act as a magnet for the first time buyers. Unavailability of the Chinese market to the global manufacturers by trade barriers & ineligibility of subsidies & stringent IP transfer requirements for the imported electric vehicle set the monopoly of Chinese auto-manufacturers in the Electric vehicle market.
Efficient dealer management software in China can complement the auto-makers to manage their increasing dealership networks effectively.Softening in crude oil prices poses the biggest challenge to the EV market in China to stay put with the competition. On the other hand, lesser maintenance cost & fuel pricing have led to a boom in the mix of electric vehicle in the service fleets. China has enormous manufacturing skills.
Along with this, many renowned foreign auto manufacturers like GM, Tesla, BMW & Nissan have already entered the Chinese electric vehicle market with a goal to launch more competitively priced electric & hybrid models in recent future. It calls for all-rounder efforts from the auto manufacturers to reduce the overall electric vehicle pricing without negotiating the quality. An ideal dealer management system in China can serve as a crucial factor which will help in optimizing the parts pricing along with keeping control on the inventory & schedule.
Dealer Management system:
Along with the support from the government, Chinese electric vehicle market has been complemented by continuous development in the supply chain capabilities in terms of EV, battery management systems & batteries. Robust EV management software will act as an ideal enhancement to effectively manage the ever-growing supply chain potential of Chinese electric vehicle market. Additionally, the warranty management solution can achieve the much required buyers satisfaction by the skilled management of warranties.
About charging:
China also has its own battery electric technology. Current electric vehicle technology is considerably more expensive as compared to traditional vehicles with the battery being the largest single additional expense. The restricted range of the battery is another challenge which needs to be tackled to make electric vehicle popular amongst the buyers. Deployment of electric vehicle also faces a challenge in terms of infrastructure for charging the vehicles. Withseveral initiatives from the government & the support from the technology side, all in all, the new electric vehicle market in China appears to be both promising & demanding.
The objective of the report is to present a comprehensive analysis of the China Electric Vehicle Marketincluding all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding China Electric Vehicle Marketdynamics, structure by analyzing the market segments and project the China Electric Vehicle Marketsize. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the China Electric Vehicle Market make the report investor’s guide.
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Scope of China Electric Vehicle Market: Inquire before buying
China Electric Vehicle Market, By Type
• BEV
• PHEV
• HEV
China Electric Vehicle Market, By Vehicle Class
• Mid-Priced
• Luxury
China Electric Vehicle Market, By Vehicle Type
• Two-wheelers
• Passenger Cars
• Commercial Vehicles
China Electric Vehicle Market Key Players
• Tesla
• BMW Group
• Nissan Motor Corporation
• Toyota Motor Corporation
• Volkswagen AG
• General Motors
• Daimler AG
• Energica Motor Company S.p.A.
• BYD Company Motors
• Ford Motor Company.
• SAIC-GM Wuling
• NIO
• Xpeng
• Li Auto
• WM Motors
• Geely
• Byton
• Zhiji
• Xiaomi
• Dongfeng Motors
• Chang’an Automobile
• Guangzhou Automobile
This Report Is Submitted By : Maximize Market Research Company
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