China electric vehicle (EV) market is estimated to grow at a CAGR of more than 17.0% during the forecast period. The rising need to address future energy requirements is one of the major factors to drive the growth of the market. Moreover, the cohesive government programs and initiatives to fuel the growth of the EV market in China. China is one of the members of the EV30@30 Campaign that aims to accelerate the deployment of EVs. Further, China is actively participating in EV pilot project programs.  In 2018, the country had set a target that electric cars and plug-in hybrids vehicles to account for at least 20% of its total vehicle sales by 2025. In 2019, the country has reduced the subsidies on the electric vehicle as it is a developing economy and is unable to spend a huge amount of subsidies. The growing investment by major market players in the Chinese market is anticipated to offer ample growth opportunities for the electric vehicle market in China.

The market is segmented on the basis of vehicle type, propulsion technology, and battery Type. Based on vehicle type, the market is sub-segmented into commercial vehicles, passenger cars, and two-wheeler. Based on propulsion technology the market is sub-segmented into battery electric vehicles, and plug-in hybrid electric vehicles. Based on the propulsion type, plug-in hybrid vehicles are anticipated to have considerable market growth during the forecast period. Based on the battery type, the market is sub-segmented into NiMH, Li-Ion, and others. 

Some of the major companies which are contributing to the growth of China electric vehicle market include  BMW AG, BYD Co. Ltd., Chery Automobile Co., Ltd., General Motors Co., Honda Motor Co., Ltd., Lucid Motors, Inc., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including collaborations with government, new product innovations, funding to the start-ups and technological advancements to stay competitive in the market.

Research Methodology

The market study of China Electric Vehicle market is incorporated by extensive primary and secondary research conducted by the research team.  Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report provides an in-depth analysis on market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. China Electric Vehicle Market Research and Analysis by Vehicle Type
2. China Electric Vehicle Market Research and Analysis by Propulsion Technology
3. China Electric Vehicle Market Research and Analysis by Battery Type

The Report Covers

• Comprehensive research methodology of China 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 Electric Vehicle market.
• Insights about market determinants which are stimulating the China Electric Vehicle market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.