China electric car market is estimated to show a growth of around 20.0% during the forecast period. The country is the largest electric vehicle market globally with covering around 50% of the global electric sales. High air pollution increases the needs to reduce carbon footprints due to which the government promoted electric vehicles in the country. However, in 2019, the government removed a significant number of subsidies on electric cars which resulted in a downfall in the second half of the year. In 2019, a downfall of 22% in the electric car sales had been registered in the country as compared to 2018. Government policies to demotivate the fossil fuel vehicles, rebates on taxes, decrease in the cost of electric cars, development of charging infrastructure, are some of the major factors for the growth of the market in the near future.
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China electric car market is segmented on the basis of vehicle type, propulsion technology, and battery type. By vehicle type, the market is further analyzed into hatchback, sedan, and SUV. Some of the most common electric cars sold in the country include SAIC Baojun E-Series EV, BAIC EU-Series, BAIC EX-Series, BYD Yuan, BMW 530Le, and BAIC EC-Series. By propulsion technology, the market is further segmented into battery-electric cars and plug-in hybrid electric cars. Battery-electric cars are expected to show lucrative growth in the country. By battery type, the market is further sub-segmented into NiMH, Li-Ion, and others. Li-ion batteries vehicle is expected to cover a major market share in the upcoming 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
China Electric Car Market Report Segment
By Vehicle Type
- Hatchback
- Sedan
- SUV
By Propulsion Type
- Battery Electric Vehicles
- Plug-in Hybrid Electric Vehicle
By Battery Type
- NiMH
- Li-ion
- Others
The Report Covers
- Comprehensive research methodology of the China Electric Car 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 the China Electric Car Market.
- Insights about market determinants which are stimulating the China Electric Car Market.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
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