CHINA ELECTRIC BUS MARKET

The global electric bus market has got to a stage where it is now because of advancements made in Chinese electric bus manufacturers. BYD was among the first bus manufacturers to show an electric bus concept in 2011 in Europe and now its electric buses are in use in more than 100 European cities. 

 

Info Graphic: China Electric Bus market

 

In the global market, Mercedes, MAN, Volvo have launched their all-electric buses with mass production timeline, but none of them are as price competitive as Chinese manufacturers.

 

MARKET DYNAMICS

Almost all Electric buses in China have Permanent magnet Synchronous motor with varying power output in 200-300hp range.The battery capacity of Pure-electric buses varies between 150kWh- 300kWh depending on length and application.

Much of the China electric bus market has grown on the back of subsidies given by the government. Ankai Bus – a leading electric bus manufacturer announced on 3rd Jan 2020 that the company received the national new energy vehicle promotion and application subsidy to the tune of $5.4 Million.

Foton received an order for 2,072 electric buses(210 pure electric, 1,140 PHEV and 722 range extender EV) on 31st Dec 2019 from Beijing Public Transport Holdings (Group) Co., Ltd, received a total of  92 government subsidies totaling $40 Million in 2019.

In 2018-2019, majority(95%) of the electric bus orders were for pure electric buses, but post withdrawal of subsidies in Aug 2019, we believe, the trend might shift to PHEV and range extender hybrid buses.

Fuel cell electric bus sales have grown to almost 900 units in 2019 and about 300 of them were sold in Shanghai alone.

MARKET SEGMENTATION

infographic: China electric bus market

 

MARKET SIZE AND FORECAST

The bus market(ICE+ Electric) in China is estimated at $10 Billion per annum.  The electric bus market in China was estimated at ~70,000 units in 2019 or ~14% of overall bus market in terms of volume, de-growing by 30% YOY. The steep drop happened after generous subsidies by the Chinese government were withdrawn on 7th August 2019.

In 2019, majority of the electric buses in China are sold in a handful of cities like Dongguann, Beijing,Suzhou,Shenzhen,Wenzhou,Zhengzhou and Guangzhou. this is in a sharp contast to 2018 sales where Gunagzhou alone accounted for 15% of total sales.

Chinese bus manufacturers are also looking at South-East Asian, African and other low volume markets for exports, which will allow them to diversify their earnings and mitigate the risks associated with this evolving market.

 

COMPETITIVE LANDSCAPE

The China bus market has 25 players in total, accounting for 0.5 Million units per annum but only 12 players are active in electric bus segment.

In electric bus segment,the cumulative sales of the top ten new energy bus companies in 2019 was 82% of the industry’s total sales. Yutong, Zhongtong, CRRC, BYD, and Foton had a cumulative market share of 62% in 2019.

Most of the domestic players are looking for export opportunities outside China. For example, BYD has less than 7% share of the domestic electric bus market but is the #1 player in India electric bus market( India is world`s third biggest bus market) and is actively expanding in Europe and US.

India electric bus market has a requirement of ~5,500 electric buses between 2020-2024, to be fulfilled by various vendors but BYD has already bagged more than 35% of them.

COMPANY PROFILES

  1. CRRC Electric
  2. Zhengzhou Yutong Bus Co. Ltd.
  3. Haige Bus((Suzhou Jinlong)
  4. Jinlong Bus
  5. Higer Bus Company Limited
  6. Foton Ouhui
  7. Shenlong Bus
  8. BYD Company Limited
  9. Kaiwo Automobile (Nanjing Jinlong)
  10. Zhongtong Bus Holding Co. Ltd.
  11. Ankai Bus
Sl noTopic
1Market Segmentation
2Scope of the report
3Abbreviations
4Research Methodology
5Executive Summary
6Introduction
7Insights from Industry stakeholders
8Cost breakdown of Product by sub-components and average profit margin
9Disruptive innovation in the Industry
10Technology trends in the Industry
11Consumer trends in the industry
12Recent Production Milestones
13Component Manufacturing in US, EU and China
14COVID-19 impact on overall market
15COVID-19 impact on Production of components
16COVID-19 impact on Point of sale
17Market Segmentation, Dynamics and Forecast by Geography, 2020-2025
18Market Segmentation, Dynamics and Forecast by Product Type, 2020-2025
19Market Segmentation, Dynamics and Forecast by Application, 2020-2025
20Market Segmentation, Dynamics and Forecast by End use, 2020-2025
21Product installation rate by OEM, 2020
22Incline/Decline in Average B-2-B selling price in past 5 years
23Competition from substitute products
24Gross margin and average profitability of suppliers
25New product development in past 12 months
26M&A in past 12 months
27Growth strategy of leading players
28Market share of vendors, 2020
29Company Profiles
30Unmet needs and opportunity for new suppliers
31Conclusion
32Appendix

 

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