NEW YORK, Aug. 15, 2016 /PRNewswire/ -- t takes only less than ten years for China's low-speed electric vehicle (LSEV) industry to grow from an infant to a behemoth with its output surging from 23,000 units in 2009 to 688,000 units in 2015 at a CAGR of up to 76.2%. In April 2016, the Standardization Administration of the People's Republic of China (SAC) solicited public opinions on the Technical Specifications of Four-wheeled Low-speed Electric Passenger Vehicle, giving a glimmer of hope to the LSEV industry stranded in policy grey zone.
Despite absence of industry standards and legal grounds for running on the road, LSEV, with merits of great mobility and low use cost, enjoys huge market potential in rural areas and urban-rural fringe areas. As industry standards become increasingly clear and the industry more regulated, the market potential will be further unleashed over the next couple of years. It is expected that China's output of LSEVs will hit 2.044 million units in 2020 at a CAGR of 24.3% over 2015.
Regarding competitive landscape, the market finds a relatively low concentration with Shifeng, YOGOMO, and LEVDEO being the top3 players in the market. Shifeng has been the marekt leader for three years in a row, the first company with annual output of more than 100,000 units. YOGOMA, a electric vehicle brand under BYVIN, produces mainly D70, D50 and V60 with annual output of about 80,000 units. YOGOMO, the largest low-speed electric vehicle in Hebei province, has four brands (YOGOMO, CYAHOR, YGM, and Lewei) with annual output of 70,000 units or so. High profit margins in rapidly-developing low-speed electric vehicle industry have attracted a large number of two-wheeled and three-wheeled electric vehicle manufacturers (SUNRA, BYVIN, etc.) and companies from other sectors (like Loncin via acquisiton of Baoya) to enter the field, intensifying competition.
Meanwhile, some manufacturers scale up investment to expand LSEV capacity. Dojo began construction of Gaoyou base in early 2015; LEVDEO started building its Phase II low-speed electric vehicle project in 2015; the contract for YOGOMO Wuxi Project was signed in January 2016; the agreement forBaoyaXiangyang Project was signed in May 2016. With the launch of these projects, the competition in LSEV industry will prick up.
China Low-speed Electric Vehicle Industry Report, 2016-2020 highlights the followings:
Overview of LSEV industry in China (definition, classification, development trends, etc.);
Market segments (electric bicycle, electric tricycle, LSEV, and all-terrain vehicle) of LSEV (industry standards, relevant policies, market size, competitive landscape, development trends, etc.);
Market for relevant key parts (battery, motor, and motor controller) (competitive landscape, manufacturers, etc.);
16 major manufacturers (Yadea, AIMA, SUNRA, BYVIN, Jinpeng, Dojo, YOGOMO, Xinyuzhou, Shifeng Group, Tokng, Fulu Vehicle, LEVDEO, KNDI, Rainchst, Lichi, and Baoya) (profile, financial position, leading products, R&D, distribution of production bases, technical features, etc.)
Read the full report: http://www.reportlinker.com/p04057032-summary/view-report.html
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