China battery electric vehicle market is estimated to grow at a CAGR of more than 18.0% during the forecast period. The country is the largest automobile and electric vehicle market globally. More than 50% of the electric vehicle stock is in China until 2019. Government support and incentives are some of the major factors for the growth of BEV in the country. However, a downfall was recorded in 2019, when the government removed financial subsidies on electric cars. The country has one of the largest reserves of Lithium due to which it aims to reduce its dependence on fossil fuel. High air pollution and the need to reduce carbon footprints are some of the other factors due to which the government promoted electric vehicles in the country. Government regulations to demotivate the fossil fuel vehicle is expected to further drive the market in the country.
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The market is segmented on the basis of vehicle type and battery type. Based on vehicle type, the market is further classified into commercial vehicles, passenger cars, and others. During the forecast period, the passenger vehicle market is forecast to hold the largest market share in the country. Based on the battery type, the market is sub-segmented into NiMH, Li-Ion, and others. Li-ion BEVs segment is projected to cover a major market share during the forecast period.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
China Battery Electric Vehicle Market by Vehicle Type
- Passenger Car
- Commercial Vehicle
- Others
China Battery Electric Vehicle Market by Battery Type
- NiMH
- Li-Ion
- Others
Company Profiles
- Audi AG
- BAIC Group
- BMW AG
- BYD Auto Co., Ltd.
- Chery Automobile Co., Ltd.,
- Dongfeng Motor Corp.
- Ford Motor Co.
- General Motors Co.
- Great Wall Motors Co. Ltd.
- Honda Motor Co., Ltd.
- Hyundai Motor Co.
- Jaguar Land Rover Ltd.
- Kia Motors Corp.
- Nissan Motor Co.
- Renault Group
- SAIC Motor Corp. Ltd.
- Tesla, Inc.
- Toyota Motor Corp.
- Volkswagen AG
The Report Covers
- Comprehensive research methodology of China Battery Electric Vehicle Market.
- This report also includes a detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting China Battery Electric Vehicle Market.
- Insights about market determinants which are stimulating China Battery Electric Vehicle Market.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
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