Market Size of china electric car Industry
| Icons | Lable | Value |
|---|---|---|
|
Study Period | 2016 - 2029 |
|
Market Size (2024) | USD 0.52 Trillion |
|
|
Market Size (2029) | USD 1.12 Trillion |
|
Largest Share by Sub Body Type | Sports Utility Vehicle |
|
|
CAGR (2024 - 2029) | 16.59 % |
|
Fastest Growing by Sub Body Type | Sedan |
Major Players |
||
|
||
|
*Disclaimer: Major Players sorted in no particular order |
China Electric Car Market Analysis
The China Electric Car Market size is estimated at USD 0.52 trillion in 2024, and is expected to reach USD 1.12 trillion by 2029, growing at a CAGR of 16.59% during the forecast period (2024-2029).
- Largest Segment by Vehicle Type - Sports Utility Vehicle : Hatchback cars dominated the market mainly due to the introduction of various new models and growing focus on improved fuel economy and reduced exhaust emissions.
- Fastest-growing Segment by Vehicle Type - Sedan : The growing interest of people towards adventure and tough driving on various terrains and growing preference towards bold looks is driving the growth SUV in the passenger car segment in China.
- Largest Segment by Fuel Type - BEV : The extension of state subsidies through 2022 and the ongoing promotion of BEV adoption among Chinese people is major factors contributing to the rise of BEV in China's electric car market.
- Fastest-growing Segment by Fuel Type - FCEV : The governmental subsidies for BEV along with norms, continued encouragement of BEV adoption among private auto owners which is making BEV the fastest growing segment in passenger car sales in China.
