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Market Research Report

China Electric Bus Market by Type (BEV, PHEV, HEV), by Hybrid Powertrain (Parallel Hybrid, Series Parallel Hybrid, Series Hybrid), by Length (>10m, 8m-10m,

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China Electric Bus Market by Type (BEV, PHEV, HEV), by Hybrid Powertrain (Parallel Hybrid, Series Parallel Hybrid, Series Hybrid), by Length (>10m, 8m-10m,
Published: June 1, 2018 Content info: 81 Pages
Description

The Chinese electric bus market is projected to reach 299,866 units by 2025, witnessing a CAGR of 15.9% during the forecast period according to P&S Market Research, the growth of the market is majorly driven by increasing government support for electric vehicles and falling battery prices.

Insights into market segments

The Chinese electric bus market is segmented on the basis of hybrid powertrain, which includes parallel hybrid, series parallel hybrid, and series hybrid. Among these, the parallel hybrid category held more than 40% share in the Chinese electric bus market in 2017. However, the fastest growth during the forecast period is expected from the series hybrid category, due to the ease in designing and assembling this type of powertrain, which reduces the overall cost of electric bus.

On the basis of battery, the Chinese electric bus market is segmented into lithium-iron-phosphate (LFP) and Lithium Nickel Manganese Cobalt Oxide (NMC) batteries. Among these, the LFP category accounted for more than three-fourth of the total electric bus sales in the country in 2017. However, the NMC battery category is expected to witness a faster growth during the forecast period, with the inclusion of NMC batteries in subsidy schemes (from January 2017) coupled with better characteristics such as lower self-charge and higher energy density of it when compared to LFP.

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 prices under check. Moreover, increasing battery production capacity would further lower battery prices in China during the forecast period. Similar to the case of internal combustion engine, whose costs fell 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, driving the Chinese electric bus market during the forecast period.

Government 'push' driving the market

The Chinese electric bus market is highly dependent on the government, which accounted for more than 65% sales in 2017. Buses in the government sector are used for public transport, transit services, military, and other purposes. Most of the decisions of purchasing electric buses are made at the central or state government level, by politicians and other government employees. The reduction in electric vehicle subsidy would have a limited impact on the sales of electric buses as the government sector is less cost sensitive compared to the private sector. Moreover, the Chinese government has a strong commitment to increase the share of electric buses in the transportation system of the country.

Furthermore, the penetration of electric buses would be much faster than other electric vehicles such as cars, as persuading hundreds of bus fleet operators to choose new technology is a much simpler task for the government, than to convince millions of car buyers to do the same. It is expected that majority of conventional buses plying in China would be replaced by electric ones in the long run, thereby driving the Chinese electric bus market during the forecast period.

Competitive Landscape

Similar to the conventional bus market, domestic players account for most of the sales in the Chinese electric bus market. Important players in the market include Zhengzhou Yutong Group Co. Ltd., Higer Bus Company Limited, BYD Company Limited, Zhongtong Bus & Holding Co. Ltd., Dongfeng Motor Corporation, King Long United Automotive Industry Co., Ltd, and Anhui Ankai Automobile Co. Ltd.

Table of Contents

Table of Content

Chapter 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 Hybrid Powertrain
    • 1.3.3 Market Segmentation by Length
    • 1.3.4 Market Segmentation by Battery
    • 1.3.5 Market Segmentation by Customer
    • 1.3.6 Analysis Period
    • 1.3.7 Market Data Reporting Unit
      • 1.3.7.1 Volume
  • 1.4 Key Stakeholders

Chapter 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

Chapter 3. Executive Summary

Chapter 4. Introduction

  • 4.1 Definition of Market Segments
    • 4.1.1 By Type
      • 4.1.1.1 BEV
      • 4.1.1.2 PHEV
      • 4.1.1.3 HEV
    • 4.1.2 By Powertrain
      • 4.1.2.1 Series hybrid bus
      • 4.1.2.2 Series parallel hybrid bus
      • 4.1.2.3 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

Chapter 5. Regulatory Analysis

  • 5.1 Overview
  • 5.2 Subsidy Scheme Comparison

Chapter 6. China Market Size and Forecast

  • 6.1 By Type
  • 6.2 By Hybrid Powertrain
  • 6.3 By Length
  • 6.4 By Battery
  • 6.5 By Customer

Chapter 7. Competitive Landscape

  • 7.1 Market Share Analysis of Key Players
  • 7.2 Key Developments in China Electric Bus Market

Chapter 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 Key Financial Summary
  • 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
  • 8.4 BYD Company Limited
    • 8.4.1 Business Overview
    • 8.4.2 Product and Service Offerings
    • 8.4.3 Key Financial Summary
  • 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
    • 8.6.3 Key Financial Summary
  • 8.7 Anhui Ankai Automobile Co. Ltd
    • 8.7.1 Business Overview
    • 8.7.2 Product and Service Offerings
    • 8.7.3 Key Financial Summary
  • 8.8 Shenzhen Wuzhoulong Motors Co. Ltd
    • 8.8.1 Business Overview
    • 8.8.2 Product and Service Offerings
  • 8.9 Liaoning Huanghai Automobile Import & Export Co. Ltd
    • 8.9.1 Business Overview
    • 8.9.2 Product and Service Offerings
  • 8.1 Yangzhou Yaxing Motor Coach Co. Ltd.
    • 8.10.1 Business Overview
    • 8.10.2 Product and Service Offerings

Chapter 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 HYBRID POWERTRAIN, UNITS (2013-2017)
  • TABLE 7 CHINA ELECTRIC BUS MARKET, BY HYBRID POWERTRAIN, UNITS (2018-2025)
  • TABLE 8 CHINA ELECTRIC BUS MARKET, BY LENGTH, UNITS (2013-2017)
  • TABLE 9 CHINA ELECTRIC BUS MARKET, BY LENGTH, UNITS (2018-2025)
  • TABLE 10 CHINA ELECTRIC BUS MARKET, BY BATTERY, UNITS (2013-2017)
  • TABLE 11 CHINA ELECTRIC BUS MARKET, BY BATTERY, UNITS (2018-2025)
  • TABLE 12 CHINA ELECTRIC BUS MARKET, BY CUSTOMER, UNITS (2013-2017)
  • TABLE 13 CHINA ELECTRIC BUS MARKET, BY CUSTOMER, UNITS (2018-2025)
  • TABLE 14 ZHENGZHOU YUTONG GROUP CO. LTD. - AT A GLANCE
  • TABLE 15 ZHENGZHOU YUTONG GROUP CO. LTD. - KEY FINANCIAL SUMMARY
  • TABLE 16 HIGER BUS COMPANY LIMITED - AT A GLANCE
  • TABLE 17 KING LONG UNITED AUTOMOTIVE INDUSTRY CO. LTD.- AT A GLANCE
  • TABLE 18 BYD COMPANY LIMITED - AT A GLANCE
  • TABLE 19 BYD COMPANY LIMITED - KEY FINANCIAL SUMMARY
  • TABLE 20 ZHONGTONG BUS HOLDING CO. LTD - AT A GLANCE
  • TABLE 21 DONGFENG MOTOR CORPORATION - AT A GLANCE
  • TABLE 22 DONGFENG MOTOR CORPORATION - KEY FINANCIAL SUMMARY
  • TABLE 23 ANHUI ANKAI AUTOMOBILE CO., LTD - AT A GLANCE
  • TABLE 24 ANHUI ANKAI AUTOMOBILE CO. LTD - KEY FINANCIAL SUMMARY
  • TABLE 25 SHENZHEN WUZHOULONG MOTORS CO. LTD. - AT A GLANCE
  • TABLE 26 LIAONING HUANGHAI AUTOMOBILE IMPORT & EXPORT CO. LTD. - AT A GLANCE
  • TABLE 27 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 PORTER'S FIVE FORCES ANALYSIS
  • FIG 13 ELECTRIC VEHICLES REGULATORY TIMELINE
  • FIG 14 SUBSIDY SCHEME (2016)
  • FIG 15 SUBSIDY SCHEME (2017)
  • FIG 16 PARAMETER THRESHOLD COMPARISION
  • FIG 17 CHINA ELECTRIC BUS MARKET, BY TYPE, UNITS (2013-2025)
  • FIG 18 CHINA ELECTRIC BUS MARKET, BY HYBRID POWERTRAIN, UNITS (2013-2025)
  • FIG 19 CHINA ELECTRIC BUS MARKET, BY LENGTH, UNITS (2013-2025)
  • FIG 20 CHINA ELECTRIC BUS MARKET, BY BATTERY, UNITS (2013-2025)
  • FIG 21 CHINA ELECTRIC BUS MARKET, BY CUSTOMER, UNITS (2013-2025)
  • FIG 22 CHINA ELECTRIC BUS MARKET SHARE OF KEY PLAYERS (2017)
  • FIG 23 BYD COMPANY LIMITED - REVENUE SPLIT BY SEGMENT AND GEOGRAPHY (2016)
  • FIG 24 DONGFENG MOTOR CORPORATION - REVENUE SPLIT BY SEGMENT (2017)
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