China Electric Bus Market by Type (Pure Electric Bus, Series Hybrid Bus, Parallel Hybrid Bus, Series Parallel Hybrid Bus), by Length (> 10m, < 8m, 8m -10m) - Market Size, Share, Development, Growth, and Demand Forecast, 2013-2025

  • ID: 4470339
  • Report
  • Region: China
  • 74 pages
  • P&S Market Research
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FEATURED COMPANIES

  • By D Company Limited
  • Higer Bus Company Limited
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China electric bus market size is forecasted to cross 354,000 units by 2025, at a significant growth rate. The boost in demand for electric bus is driven by declining battery costs, improving operational efficiencies, and increasing replacement of old conventional buses with new electric ones.

Insights on Market Segments:

The Chinese electric bus market is segmented on the basis of type, which includes parallel hybrid bus, pure electric bus, series parallel hybrid bus, and series hybrid bus. Pure electric bus is estimated to hold close to 86% share in the Chinese market in 2017. Pure electric bus is further expected to continue to account for a significant share in sales during the forecast period driven by increasing government support. On the basis of length, electric bus is segmented into three categories, namely, < 8m, 8m - 10m, and >10m. 8m - 10m, and >10m length buses together accounted for close to two-third of the total electric bus sales in the country in 2017.

Falling battery prices and increasing operational efficiencies expected to benefit the market

As battery accounts for significant share of electric bus manufacturing cost, declining Li-ion battery prices would help bus companies to keep the prices under check. Moreover, increasing battery production capacity would further lower battery prices in China during the forecast period. As in the case of internal combustion engine, whose costs have reduced with decades of experience, the electric vehicle’s cost too would continue to fall during the forecast period with industry experience, operational efficiencies, and economies of scale, thus benefiting the Chinese electric bus market during the forecast period.

Increasing replacement sales to drive the market

China has a few million buses/coaches accumulated in the last decade, out of which, around one-third of the buses are more than five years old. These old conventional buses are expected to be replaced by new electric ones during the forecast period. Large fleet of old conventional buses in the country provides considerable opportunity for electric bus sales in the country. Also, more buses would become old during the forecast period, thus further benefiting the Chinese electric bus market.

Thin profit margins expected in short term

Reduction in subsidies have increased the upfront cost of electric buses as compared to conventional buses. Due to this, the demand for electric buses is likely to suffer in the next few years, especially from the private segment which is highly price-sensitive. Moreover, OEMs and bus manufacturers which enjoyed considerable profit margins in the historic period, would now need to cut profits to maintain reasonable retail price for electric buses.

Competitive Landscape:

Zhengzhou Yutong Group Co. Ltd. was the leading player in the Chinese electric bus market in 2016, accounting for more than one-fourth of the total sales, followed by Higer Bus Company Limited and Zhongtong Bus & Holding Co. Ltd., each accounting for more than 10% of the total sales. Other key players in the Chinese electric bus market include Dongfeng Motor Corporation, King Long United Automotive Industry Co. Ltd., Anhui Ankai Automobile Co. Ltd., Liaoning Huanghai Automobile Import & Export Co. Ltd., Yangzhou Yaxing Motor Coach Co. Ltd., and BYD Company Limited.
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FEATURED COMPANIES

  • By D Company Limited
  • Higer Bus Company Limited
  • MORE
1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.3.1 Market Segmentation by Type
1.3.2 Market Segmentation by Length
1.3.3 Analysis Period
1.3.4 Market Data Reporting Unit
1.3.4.1 Volume
1.4 Key Stakeholders

2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.2.1 Breakdown of Primary Research Respondents
2.2.1.1 by industry participant
2.2.1.2 by company type
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Assumptions for the Study

3. Executive Summary

4. Introduction
4.1 Definition of Market Segments
4.1.1 Overview by Type
4.1.1.1 Pure electric bus
4.1.1.2 Series hybrid bus
4.1.1.3 Series parallel hybrid bus
4.1.1.4 Parallel hybrid bus
4.2 Value Chain Analysis
4.3 Market Dynamics
4.3.1 Trend
4.3.1.1 Market consolidation
4.3.2 Drivers
4.3.2.1 Government’s ‘push’ to the market
4.3.2.2 Government’s subsidy norms to improve product quality
4.3.2.3 Falling battery costs and improving operational efficiencies
4.3.2.4 Increasing replacement sales
4.3.2.5 Impact analysis of drivers on market forecast
4.3.3 Restraints
4.3.3.1 Reduction in subsidies
4.3.3.2 Limited infrastructure and value chain ecosystem
4.3.3.3 Impact analysis of restraints on market forecast
4.3.4 Challenges
4.3.4.1 Low quality products affecting the customer perception
4.3.4.2 Subsidy fraud affecting the investor confidence
4.3.4.3 Thin profit margins expected in short term
4.3.4.4 Impact analysis of challenges on market forecast
4.3.5 Opportunity
4.3.5.1 Growing share of Ternary battery powered buses
4.4 Porter’s Five Forces Analysis
4.4.1 Intensity of Rivalry
4.4.2 Threat of New Entrants
4.4.3 Bargaining Power of Buyers
4.4.4 Bargaining Power of Suppliers
4.4.5 Threat of Substitutes

5. Regulatory Analysis
5.1 Regulatory Analysis
5.1.1 Overview
5.1.2 Subsidy Scheme Comparison

6. China Market Size and Forecast
6.1 by Type
6.2 by Length

7. Competitive Landscape
7.1 Market Share Analysis of Key Players
7.2 Key Developments in China Electric Bus Market

8. Company Profiles
8.1 Zhengzhou Yutong Group Co. Ltd.
8.1.1 Business Overview
8.1.2 Product and Service Offerings
8.1.3 Strategic Growth Plans
8.2 Higer Bus Company Limited
8.2.1 Business Overview
8.2.2 Product and Service Offerings
8.3 King Long United Automotive Industry Co. Ltd.
8.3.1 Business Overview
8.3.2 Product and Service Offerings
8.3.3 Strategic Growth Plans
8.4 BYD Company Limited
8.4.1 Business Overview
8.4.2 Product and Service Offerings
8.4.3 Strategic Growth Plans
8.5 Zhongtong Bus & Holding Co. Ltd.
8.5.1 Business Overview
8.5.2 Product and Service Offerings
8.6 Dongfeng Motor Corporation
8.6.1 Business Overview
8.6.2 Product and Service Offerings
8.7 Anhui Ankai Automobile Co. Ltd
8.7.1 Business Overview
8.7.2 Product and Service Offerings
8.8 Shenzhen Wuzhoulong Motors Co. Ltd
8.8.1 Business Overview
8.8.2 Product and Service Offerings
8.8.3 Strategic Growth Plans
8.9 Liaoning Huanghai Automobile Import & Export Co. Ltd
8.9.1 Business Overview
8.9.2 Product and Service Offerings
8.10 Yangzhou Yaxing Motor Coach Co. Ltd.
8.10.1 Business Overview
8.10.2 Product and Service Offerings

9. Appendix
9.1 Abbreviations
9.2 Sources and References
9.3 Related Reports

List of Tables
Table 1 Analysis Period of The Study
Table 2 Battery Production Capacities of Key Players
Table 3 Major Battery Suppliers For Electric Bus Companies
Table 4 China Electric Bus Market, by Type, Units (2013 - 2017)
Table 5 China Electric Bus Market, by Type, Units (2018 - 2025)
Table 6 China Electric Bus Market, by Length, Units (2013 - 2017)
Table 7 China Electric Bus Market, by Length, Units (2018 - 2025)
Table 8 Zhengzhou Yutong Group Co. Ltd. - at a Glance
Table 9 Higer Bus Company Limited - at a Glance
Table 10 King Long United Automotive Industry Co. Ltd.- at a Glance
Table 11 Byd Company Limited - at a Glance
Table 12 Zhongtong Bus & Holding Co. Ltd - at a Glance
Table 13 Dongfeng Motor Corporation - at a Glance
Table 14 Anhui Ankai Automobile Co., Ltd - at a Glance
Table 15 Shenzhen Wuzhoulong Motors Co. Ltd. - at a Glance
Table 16 Liaoning Huanghai Automobile Import & Export Co. Ltd. - at a Glance
Table 17 Yangzhou Yaxing Motor Coach Co. Ltd. - at a Glance

List of Figures
Fig 1 Research Scope
Fig 2 Research Methodology
Fig 3 Breakdown of Primary Research by Industry Participant
Fig 4 Breakdown of Primary Research by Company Type
Fig 5 Data Triangulation Approach
Fig 6 China Electric Bus Market Summary
Fig 7 Value Chain Analysis
Fig 8 Electric Bus Subsidy Comparision
Fig 9 Drivers For The Market: Impact Analysis
Fig 10 Restraints For The Market: Impact Analysis
Fig 11 Challenges For The Market: Impact Analysis
Fig 12 Power Battery Sales In China (2016)
Fig 13 Porter’S Five Forces Analysis
Fig 14 Electric Vehicles Regulatory Timeline
Fig 15 Subsidy Scheme (2016)
Fig 16 Subsidy Scheme (2017)
Fig 17 Parameter Threshold Comparision
Fig 18 China Electric Bus Market, by Type, Units (2013 - 2025)
Fig 19 China Electric Bus Market, by Length, Units (2013 - 2025)
Fig 20 China Electric Bus Market Share of Key Players (2016)
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  • Anhui Ankai Automobile Co. Ltd
  • By D Company Limited
  • Dongfeng Motor Corporation
  • Higer Bus Company Limited
  • King Long United Automotive Industry Co. Ltd.
  • Liaoning Huanghai Automobile Import & Export Co. Ltd
  • Shenzhen Wuzhoulong Motors Co. Ltd
  • Yangzhou Yaxing Motor Coach Co. Ltd.
  • Zhengzhou Yutong Group Co. Ltd.
  • Zhongtong Bus & Holding Co. Ltd.
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown
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