NEW YORK, July 21, 2016 /PRNewswire/ -- Affected by multiple factors like the slowdown in macro-economic growth, the slashed local fiscal expenditure and the substitution effect of high-speed rail passenger transport, Chinese bus market declined during 2015-2016. In 2015, China produced 590,900 buses (including chassis) and sold 595,400 ones, down 2.69% and 1.90% year on year respectively. In the first half of 2016, the bus output and sales volume amounted to 255,700 and 253,800 respectively, down 9.44% and 9.48% year on year correspondingly.
The market segments feature the followings:
Among seat buses, tour buses and light seat buses witness rapid growth. In 2015-2016, the construction of the high-speed railway network led to the contraction of medium and long-distance bus lines and departure frequencies as well as slow growth of medium and large seat buses. At the same time, the tourism market propelled the demand for tour buses which maintained fast growth. Thanks to the national policy on the development of urban and rural integrated transportation, the demand for medium and short-haul light seat buses commuting between urban and rural areas jumped, with the growth rate of as high above 40% in 2015.
Transit buses benefit from the fast-growing new energy. In 2015-2016, transit buses grew radically under the boost of new energy vehicles. From January to May of 2016, China's output of new energy buses (BEV + PHEV) totaled 25,997, a year-on-year surge of 125.65%. Wherein, the output of BEVs (battery electric vehicles) soared by 225.74% year on year, becoming the absolute mainstream. In the future, new energy transit buses will be the highlight of the bus market as the new energy trend becomes more obvious.
The rising demand for new energy buses has stimulated Chinese bus companies to promote such buses. As the largest large and medium-sized bus manufacturer in China, Yutong Bus sold 20,446 new energy buses in 2015, including 13,885 battery electric buses and 6,561 plug-in buses. In addition, the company obtained China's first fuel cell bus production qualification in 2015, which may facilitate its leading-edge development in the field of fuel cell buses in the future.
Xiamen King Long Motor Group started relatively late in new energy buses, but its three wholly-owned subsidiaries: Higer Bus, Xiamen King Long United Automotive Industry, and Xiamen Golden Dragon Bus hold adequate technical reserves and have robust competitive strength. In 2015, Xiamen King Long Motor Group produced a total of 19,435 new energy buses, and sold 18,434 ones consisting of 12,323 battery electric buses (skyrocketing 1041% year on year) and 6,111 plug-in buses (up 165% year on year). The Group's new energy bus battery and motor systems are purchased from main suppliers such as CATL, Microvast and Jing-Jin Electric Technologies (Beijing), while its electronic control systems are the result of its independent R & D and design.
The report mainly deals with the following:
Market size, market structure, competitive landscape, import and export, and trends of China's overall bus market (including chassis);
Market size, market structure, and competitive landscape of large, medium, and light bus market in China;
Market size, market structure and status quo of seat buses, transit buses, school buses, natural gas buses and other market segments in China;
Market Size, competitive landscape, related policies, technology roadmap, and industrial investment of new energy buses in China;
Telematics and active safety technology development of China bus industry;
China's bus industry chain, including the supply relationship of main upstream spare parts (transmission, wheel hub, and new energy batteries) and downstream market demand;
Development of Chinese bus manufacturers, including their financial data, bus production and sales, new energy bus business, capacity, cost structure, latest developments, etc.
Read the full report: http://www.reportlinker.com/p02446768-summary/view-report.html
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
Contact Clare: [email protected]
Intl: +1 339-368-6001