Lewes, DE -- (SBWire) -- 05/23/2016 --Report forecast the Passenger Vehicle Market in China to grow at a CAGR of 5.39% during the period 2016-2020.
China is leading the global automotive industry since 2009, when it overtook the US in terms of total vehicle production. China represents one of the fastest-growing auto industries and is one of the key regions for original equipment manufacturers (OEMs) across the globe. Passenger cars are a key segment of the automotive industry in China.
This segment constituted more than 80% of the total automotive industry (passenger cars commercial vehicles). The year 2015 recorded sales of 21.15 million vehicles in China, led by sedans and small cars, followed by SUV/crossovers, MPV, and luxury car segments, respectively.
The report covers the present scenario and the growth prospects of the Passenger Vehicle Market in China for 2016-2020.
According to the report, a key growth driver is the high adoption of electric vehicles which is expected to provide new business opportunities. Electric vehicles are considered the next stage of evolution in automobiles. Currently, electricity is considered a substitute propulsion technology. Electric vehicles are one of the most commercially viable alternatives to conventional gasoline or diesel vehicles in terms of technology. But market dynamics remain complex and are governed by various factors, such as support infrastructure, government regulations, and the high cost of manufacturing electric vehicles. These factors are influencing the commercial prospects of these vehicles in China.
Further, the report states that one challenge that could hamper market growth is the increasing cost pressure on OEMs from the demand side.
Passenger Vehicle Market in China 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
key players in the Passenger Vehicle Market in China: BAIC Group, Changan Automotive, Dongfeng Motor, FAW, Geely, and SAIC Motor.
Other Prominent Vendors in the market are: Brilliance Auto, BYD Auto, Chery, GAC (Guangzhou Automobile Corp.), GM China, Great Wall, and Volkswagen China.
Market driver
- High adoption of electric vehicles to provide new business opportunities
- For a full, detailed list, view our report
Market challenge
- Increasing cost pressure on OEMs from demand side
- For a full, detailed list, view our report
Market trend
- OEMs to focus on new product development and strong product portfolios to secure market share
- For a full, detailed list, view our report
Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
Spanning over 80 pages and 37 Exhibit "Passenger Vehicle Market in China 2016 - 2020" report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market landscape, Value chain, Market segmentation by propulsion type, Market segmentation by vehicle type, Market drivers, Impact of drivers, Market challenges, Impact of drivers and challenges, Market trends, Vendor landscape, Key vendor analysis, Appendix.
For more information Visit at: http://www.marketresearchreports.com/technavio/passenger-vehicle-market-china-2016-2020
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