Ideas That Generate Results
Booming Automobile Sector in China
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Publish Date : Sep, 2013| No. of Pages : 140
China’s automobile market has grown rapidly since the country’s inclusion to the World Trade Organization in 2001. By 2009, Chinese automobile market had become the world’s largest, overtaking US both in terms of sales and production. Growth has been underpinned by market liberalization and greater economic openness. Further, vast consumer base having more purchasing power, and improved road infrastructure has made China one of the most attractive destinations for major market players. In fact, despite economic slowdown in the country, the automobile sector is posting continuous growth. As per the estimation, carried out in our latest research report “Booming Automobile Sector in China”, the automobile sales in the country is expected to grow at a CAGR of around 8.2% during 2013-2017.
It has been observed that utility vehicles (SUV and MPV) are posting strongest growth in China. With rising income levels, coupled with changing preference, the utility vehicles have become first choice of Chinese people. Apart from this, luxury car market is also growing at a high rate. Sensing the growth prospects in future, Chinese automobile industry is expected to see more players entering into this segment.
The report studies China’s automobile market comprehensively and divides the industry into three major segments and its sub-segments: sedan (small, mid-size & luxury car), utility vehicle (SUV & MPV) and commercial vehicle (passenger carrier & goods carrier). Automobile production and sales forecast of overall industry, its segments and sub-segments till 2017 has been furnished in the report.
Moreover, the report evaluates the industry trends thoroughly and found that trends like focus on green vehicles, increasing demand of high-end cars, joint ventures, etc, are providing a new direction to the industry. We have also provided the import and export scenario in China’s automobile industry.
Finally, the report identified major domestic automobile manufacturers such as China FAW Group Corporation, Dongfeng Motor Group Co. Ltd, Shanghai Automotive Industry Corporation, etc. and studied them comprehensively. The key players' section includes business description, financial overview, recent developments and strength & weakness analysis, so that competitiveness of these players can be compared.
Overall, our research foresees immense opportunities for both domestic and international players in the Chinese automobile market and presents optimum information and balanced outlook on the potentials of China’s automobile industry.