China Automotive Growth Outlook, 2022
China Automotive Growth Outlook, 2022
Higher Market Competitiveness will be Achieved by Strengthening the Transformation of Electrification, Connectivity, and Autonomous Driving
18-Apr-2022
Asia Pacific
$4,950.00
Special Price $4,207.50 save 15 %
Description
This study assesses the automotive market in China, with a focus on the passenger vehicle market segment. Within this, electric vehicles, as well as charging and battery swap, will be discussed further.
China’s automotive market has grown rapidly, particularly after the 2008 Beijing Olympics. The unit shipment of China’s passenger vehicle market has consistently exceeded 20 million since 2015.
Despite years of growth, automotive sales declined between 2017 and 2020 due to the economic pressure from the US-China trade war in 2018, the reduction of EV subsidies in 2019 (by an average of 50% compared to 2018), and the reduction of production and the pandemic-induces national lockdown in 2020.
In 2021, automotive sales increased to 21.5 million units, up from 20.2 million units in 2020. The major growth drivers were the rapidly increasing sales of EVs and the improvement of China’s domestic brand competitiveness; this growth trend will continue in 2022, with a 7.5% year-over-year increase to 23.1 million units of passenger vehicle sales.
As a result of the government’s multiyear push-pull strategies, the EV segment has grown rapidly. In 2021, China’s automotive market achieved year-over-year growth of 6.5%. Tesla is a major contributor to the battery electric vehicle (BEV) segment because production started in China, a price-competitive market. Its main consumers come from cities with strong economic strength and driving restriction implementations, such as Beijing, Shanghai, Shenzhen, and Guangzhou. BYD is the key pioneer in Plug-in Hybrid EV (PHEV) technology, launching the world’s first PHEV production in 2008. In addition to years of experience, BYD also offers competitive PHEVs that are priced similar to gasoline vehicles, starting at $16,928.
Chinese consumer purchase interest has gradually shifted, and their confidence in domestic Chinese brands has increased. For example, the proportion of Chinese brands in total automotive sales increased from 23.2% in 2020 to 44.4% in 2021, with a total unit shipment of 9.5 million vehicles in 2021.
In this research service, Frost & Sullivan highlights the total size of the Chinese automotive market and provides historical and forecast data from 2016 to 2022. This study also defines the key highlights of China’s automotive industry in 2021 and future market trends in 2022. It discusses further segment information, including vehicle subsegment and powertrain subsegment; connected and autonomous driving vehicles are also included.
Author: Ming Lih Chan
Table of Contents
Why Is It Increasingly Difficult to Grow?
The Strategic Imperative 8™
The Impact of the Top Three Strategic Imperatives on the Chinese Automotive Industry
Growth Opportunities Fuel the Growth Pipeline Engine™
Key Highlights of the Chinese Automotive Industry
China Automotive Industry Historic Sales
Top Predictions for 2022
Top 12 Transformation Shifts
Scope of Analysis
Segmentation
Definitions
Top 5 Global Economic Highlights of 2021
Top 5 Global Predictions for 2022—Macroeconomic Trends
Global GDP Growth
2022 Scenario Analysis—Quarterly Global Growth
2022 Scenario Analysis—Assumptions
2022 Global GDP Growth Snapshot
Advanced Economies—Predictions for 2022
Emerging Market Economies—Predictions for 2022
Key Growth Metrics
Consumption Indicators
Findings
Findings by Segment
Unit Shipment Forecast
Passenger Vehicle Sales Trend
Passenger Vehicle Sales by Province, 2020
Passenger Vehicle Ownership by Province, 2020
Market Share Analysis
Sedan
SUV
MPV
Cross Models
Battery Electric Vehicles
Plug-in Hybrid Electric Vehicles
EV Charging Points
EV Battery Swap Stations
Connected and Autonomous Vehicles
FAW-VW
SGM
Geely
Predictions, 2022
Prediction 1—Positive Automotive Sales During the Pandemic in 2022
Prediction 2—The Rapid Growth of Electric Vehicles
Prediction 3—Further Reduction of Emissions Through Dual Credit Policy
Prediction 4—Higher Technology Advances for L3 Autonomous Driving
Prediction 5—Strengthen the Development of the Automotive Supply Chain and Key Components
Growth Opportunity 1—Continued Development of EVs to Meet the Growing Demand, Driven by Powertrain Adoption Transformation
Growth Opportunity 1—Continued Development of EVs to Meet the Growing Demand, Driven by Powertrain Adoption Transformation (continued)
Growth Opportunity 2—Deepening Automotive Intelligence for the Development of Connected and Autonomous Driving Vehicles
Growth Opportunity 2—Deepening Automotive Intelligence for the Development of Connected and Autonomous Driving Vehicles (continued)
Growth Opportunity 3—Automotive Revolution and Price-competitive Passenger Vehicles Boost the Demand for Domestic Automotive Brands
Growth Opportunity 3—Automotive Revolution and Price-competitive Passenger Vehicles Boost the Demand for Domestic Automotive Brands (continued)
Key Conclusions
Key Conclusions and Future Outlook, 2021
Table of Acronyms Used
Table of Acronyms Used (continued)
List of Exhibits
List of Exhibits (continued)
List of Exhibits (continued)
List of Exhibits (continued)
Legal Disclaimer
Author | Ming Lih Chan |
---|---|
Industries | Automotive |
No Index | No |
Is Prebook | No |
Keyword 1 | China Automotive |
Keyword 2 | battery electric vehicle (BEV) |
Keyword 3 | electric vehicle |
Podcast | No |
WIP Number | PCE3-01-00-00-00 |