The electric vehicle market in China is forecast to grow at a CAGR of 30.3% during the period 2016-2020.
The report covers the present scenario and the growth prospects of the electric vehicle market in China for 2016-2020. The market is segmented based on the technology type:
A trend which is expected to boost market growth is the low ownership of vehicles per capita and the migration from rural to urban areas. Low penetration rate of passenger cars in China has made the region one of the most attractive markets for global automakers. The massive size of the country (home to the world's largest population) offers immense potential in terms of vehicle penetration per capita.
According to the report, a key growth driver is the monetary subsidies which are making EVs to become competitively prices. Electrifying public transport has gained importance in China. The Chinese government has supported both manufacturers and customers to encourage the use of EVs. In line with this, the Chinese government has rolled out initiatives designed to encourage the use of EVs.
Further, the report states that one challenge that could restrict market growth is the anxiety surrounding the range of travel offered by EVs. The storage capacity of the battery in an EV poses a key challenge faced by customers (as a result most customers fear to venture far from a charging station).
- BAIC Motors
- Zotye Auto
Key Topics Covered:
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by type
PART 07: Market segmentation by technology
PART 08: Market drivers
PART 09: Impact of drivers
PART 10: Market challenges
PART 11: Impact of drivers and challenges
PART 12: Market trends
PART 13: Vendor landscape
PART 14: Key vendor analysis
For more information visit http://www.researchandmarkets.com/research/gjdtt7/electric_vehicle
Research and Markets
Laura Wood, Senior Manager
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/electric-vehicle-market-in-china-to-grow-303-by-2020---monetary-subsidies-empowering-evs---research-and-markets-300286570.html
SOURCE Research and Markets