In 2018, about 45.42 million low-speed electric vehicles (LSEV) were produced in China, a 3.9% rise on an annualized basis (a 1.6-fold figure compared with China’s output of 27.81 million automobiles in the year), but LSEV witnessed a slowdown in growth rate due to policy impact.
The LSEV market is largely dominated by electric bicycle and electric tricycle, both of which held a combined share of roughly 95% by output in 2018.
Electric bicycle: China produced a total of 32.78 million electric bicycles in 2018, representing a CAGR of 14.2% from 2010 to 2018; and ownership of electric bicycles was in excess of 230 million units and showed a CAGR of over 10% during 2010-2018. The fact that the new national standards are being implemented brings about a higher industry threshold. Also, the provinces and municipalities of China have issued their transitional policies for an electric bicycle whose growth rate will decelerate in the upcoming years and whose CAGR will stand at 6% to 9% between 2019 and 2025.
Electric tricycles: Due to environmental policies, the Chinese electric tricycle market has been downsizing in the past two years. The output in 2018 posted 10.23 million units with a year-on-year decrease of 1.1%. In 2019, local governments introduced policies to tighten management on electric tricycles (for instance, Shenzhen city plans to cancel all express delivery and sanitation electric tricycles two years later). It is expected that the Chinese electric tricycle market will continue to shrink in the next few years, and the output will fall to 9.44 million units in 2025. Additionally, the less competitive producers have been eliminated amid the sluggish low-speed electric tricycle market, making the branding of the industry more concentrated.
Low-speed electric vehicle (LSEV): In 2018, China issued a policy prohibiting new capacity of low-speed electric vehicles. In 2019, Technical Conditions of Four-Wheel Low-Speed Electric Vehicles was released to drag down the growth rate of the LSEV market sharply. The CAGR in 2010-2018 remained as high as 45.4%, with a slight increase of 0.2% in 2018. As some companies stop producing low-speed electric vehicles to wait for the implementation of technical standards, the LSEV output is anticipated to edge down in 2019.
An all-terrain vehicle (ATV): the market starts late in China and has yet to mature, with a small size. In 2018, 1,074,000 ATVs were made in the country, 18.2% more than in the previous year, making the market the only thriving segment in the low-speed electric vehicle industry. However, over 95% of Chinese ATVs are for export as the country’s demand is limited. Therefore, China’s ATV market is vulnerable to the overseas market situation.
In competition, Yadea and Aima are the two key players in the electric bicycle market, together grabbing around 25% shares in 2018; the electric tricycle market is dominated by Kingbon and Zongshen; Levdeo as a bellwether in the LSEV market seized 21.4% shares in 2018, closely followed by YOGOMO 11.2% and Shifeng 7.5%; the ATV market is an oligopoly with Cfmoto Power and Linhai holding a combined over 80%.
In China, a surge in rural road mileage will favor the expansion of the LSEV market as such vehicles are hugely demanded in the third- and fourth-tier cities. Also, the issuance of the new national standard will help regulate the market as a boon for its growth in the long run, in spite of a shift in the industry thereof.
The new standard also spurs lithium battery vehicle industry. In 2019, roughly 15% of low-speed electric vehicles are expected to carry lithium batteries, compared with a mere 5% in 2013.
China Low-speed Electric Vehicle (LSEV) Industry Report, 2019-2025 highlights the following:
- Overview of the LSEV industry in China (definition, classification, Industry Characteristics s, etc.)
- Market segment-electric bicycle industry (relevant policies, market size, competitive landscape, development trends, etc.)
- Market segment- electric tricycle industry (relevant policies, market size, regional pattern, competitive landscape, etc.)
- Market segment-LSEV industry (relevant policies, market size (Shandong and Hebei), competitive landscape, etc.)
- Market segment-all-terrain vehicle (market size, regional pattern, market price, competitive landscape, etc.)
- The market for relevant key parts (battery, motor, motor controller, and BMS)
16 major LSEV manufacturers (Yadea, AIMA, SUNRA, BYVIN, Jinpeng, Dojo, YOGOMO, Shifeng Group, Tokng, Fulu Vehicle, LEVDEO, Lichi, Rainchst, Hebei Yudea, DURABLEV and Han Tang) (profile, financial position, leading products, etc.) and 7 BMS manufacturers.
1. Overview of LSEV Industry
1.1 Definition and Classification of LSEV
1.2 Industry Characteristics
1.2.1 Intense Competition
1.2.2 Geographical Concentration
1.3 Market Size
2. Development of Two-wheeled Electric Vehicle Industry
2.1 Standard of Two-wheeled Electric Vehicle
2.3 Market Size
2.4 Regional Pattern
2.5 Competitive Landscape
2.6 Industry Forecast
3. Development of Three-wheeled Electric Vehicle Industry
3.1 Standard of Three-wheeled Electric Vehicle
3.2 Market Size
3.3 Development in Major Regions
3.4 Competitive Landscape
4. Development of LSEV Industry
4.1 Policies on Four-wheeled Electric Vehicle
4.1.1 National Policies and Standards
4.1.2 Local Policies
4.2 Market Size
4.3 Development in Major Regions
4.4 Competitive Landscape
4.5 Mini Electric Vehicle
5. Development of All-Terrain Vehicle Industry
5.1 Market Size
5.2 Regional Development
5.3 Market Price
5.4 Competitive Landscape
6. Main Parts Market
6.1.1 Status Quo and Trends of LSEV Battery
6.1.2 Major Manufacturers and Competitive Landscape
6.1.3 Products of Major Manufacturers
6.1.4 Advantages and Disadvantages of Major Manufacturers
6.2.1 Major Manufacturers and Competitive Landscape
6.2.2 Products of Major Manufacturers
6.2.3 Advantages and Disadvantages of Major Manufacturers
6.3 Motor Controller
6.3.1 Major Manufacturers and Competitive Landscape
6.3.2 Products of Major Manufacturers
6.3.3 Advantages and Disadvantages of Major Manufacturers
6.4.1 Technical Analysis
6.4.2 Market Analysis
7. Chinese LSEV Manufacturers
7.1.4 Major Products
7.1.5 Production Bases
7.1.6 Sales Network
7.2.3 Revenue Structure
7.2.4 Marketing Network
7.2.5 Production Bases
7.3.2 Electric Bicycle
7.3.3 Electric Tricycle
7.3.5 Main Production Bases
7.3.6 Smart Electric SUV BYVIN V7
7.4.3 Revenue Structure
7.4.4 Production and Marketing
7.4.5 Two-wheeled Electric Vehicle
7.4.6 Electric Tricycle
7.4.7 Electric All-terrain Vehicle
7.4.8 Marketing Network
7.4.9 Production Bases
7.4.10 Investment Projects by IPO
7.5.2 Major Products
7.5.3 Main Production Bases, and Production and Sales
7.5.4 Full-series Lithium Battery Product Launched
7.6.2 Output and Sales Volume
7.6.3 Independent Operation of YOGOMO Brand
7.6.4 Major Products
7.6.5 YOGOMO’s Main Production Bases
7.6.6 YOGOMO Renamed as LinkTour
7.7 Shifeng Group
7.7.4 Shifeng Central Research Institute
7.7.5 Strategic Planning
7.8.2 Major Products
7.8.3 Strategic Cooperation between Shandong Tangjun Ouling Automobile Manufacture and Camel Group
7.9 Fulu Vehicle
7.9.2 Major Products
7.9.3 Fulu Vehicle Invested RMB 160 mln to Establish Test Center
7.9.4 Fulu Vehicle Opened Li-ion Battery Era
7.9.5 Strategic Adjustment
7.10.2 Major Products
7.10.3 Production Bases and Capacity
7.10.4 Dojo’s Gaoyou Base Was Officially Put into Operation
7.11.2 Major Products
7.11.3 Production Base
7.11.4 Important Technology
7.12.3 Major Products
7.12.4 Development Strategy
7.13.2 Major Products
7.13.3 Production Bases
7.14 Hebei Yudea New Energy Technology Group Co., Ltd.
7.14.2 Major Products
7.14.3 Production Base
7.14.4 Main Qualifications
7.14.5 Yudea’s 200,000 NEVs/a Project Makes Its Home in Neijiang, Sichuan
7.15.2 Major Products
7.16 Han Tang Electric Vehicle
7.16.2 Major Products
7.16.3 Development Strategy
8. LSEV BMS Manufacturers
8.1 Shenzhen Tian-Power Technology Co., Ltd.
8.1.2 Major Products
8.2 Addenda Technology (Guangzhou) Co., Ltd.
8.2.2 Major Products
8.3 Shenzhen Guoxin Power Technology Co., Ltd.
8.3.2 Major Products
8.4 Jiangxi Keran Technology Co., Ltd.
8.4.2 Major Products
8.5 Hangzhou Gold Electronic Equipment INC., Ltd.
8.5.2 Major Products
8.6 Changsha Juli Electric Technology Co., Ltd.
8.6.2 Major Products
8.7 Xi’an Jindee Electrical Technology Co., Ltd.
8.7.2 Major Products
- Addenda Technology (Guangzhou) Co., Ltd.
- Changsha Juli Electric Technology Co., Ltd.
- Fulu Vehicle
- Han Tang Electric Vehicle
- Hangzhou Gold Electronic Equipment INC., Ltd.
- Hebei Yudea New Energy Technology Group Co., Ltd.
- Jiangxi Keran Technology Co., Ltd.
- Shenzhen Guoxin Power Technology Co., Ltd.
- Shenzhen Tian-Power Technology Co., Ltd.
- Shifeng Group
- Xi’an Jindee Electrical Technology Co., Ltd.