Topics covered:

– Economic and policy environment for the commercial vehicle industry
– Analysis on supply of and demand for commercial vehicles
– Manufacturing costs and prices of commercial vehicles in China
– Analysis on import and export of commercial vehicles in China
– Competition on China’s commercial vehicle market
– Major commercial vehicle manufacturers in China
– Driving forces and market opportunities for the commercial vehicle industry
– Threats and challenges to the commercial vehicle industry
– Forecast on supply of and demand for commercial vehicles in China from 2019 to 2023

In terms of design and technical characteristics, commercial vehicles are vehicles that are used to transport people and goods.
They include trucks that are designed and equipped for carrying goods and buses that have more than nine seats and are used to carry a large number of passengers and their carry-on baggage.

According to CRI, compared with air transport, rail transport, water transport and other modes of transport, highway transport has door-to-door advantage and high cost performance. By the end of 2018, the length of China’s highways totaled 4,846,500 kilometers, increasing by 73,100 kilometers as compared to 2017; road density reached 50.48 km/100 sq.km., increasing by 0.76 km/100 sq.km. as compared to 2017; the freight traffic of highways reached 39.57 billion tons, increasing by 7.30% YOY; the freight turnover of highways reached 7,124.92 billion ton-km, increasing by 6.70% YOY. The growing highway traffic boosts the demand for commercial vehicles.

The production volume of commercial vehicles in China increased from 3,791,000 units in 2014 to 4,371,000 units in 2018. Although it showed a YOY decrease in 2015, it kept rising from 2016 to 2018. Especially in 2018 when the production and sales of automobiles declined, the production and sales of commercial vehicles both achieved growth.

According to CRI, China’s commercial market is deeply influenced by policies. For example, from 2014 to 2015, the Chinese government released some restrictive policies on commercial vehicles, which led to a decline in commercial vehicle production. In 2016, the government started to subsidize the commercial vehicle industry and took other encouraging measures, which pushed up the production of commercial vehicles to some extent. When the tolls on highways began to be collected based on actual load, the sales volume of light trucks increased. When the emission standards were raised, enterprises accelerated technological innovation and the sales volume of new energy commercial vehicles increased.

CRI expects that, with the improvement of road networks and the development of rural roads, both the freight traffic and passenger traffic of China’s highways will continue to grow from 2019 to 2023, which will stimulate the demand for commercial vehicles. In 2018, the fixed-asset investment in China reached CNY 63,563.60 billion, increasing by 5.90% YOY. The growth rate of fixed-asset investment has a great impact on the development of China’s commercial vehicle industry, especially the truck sub-industry. To ensure annual GDP growth rate of no less than 6%, from 2019 to 2023, the Chinese government will certainly increase investment in fixed assets, especially in infrastructure projects, which will drive the demand for commercial vehicles.

The post Research Report on Global and China’s Commercial Vehicle Industries, 2019-2023 first appeared on CRI Report.

Report on Commercial Vehicle Industry in China, 2018-2022

The post Sample of Report on Commercial Vehicle Industry in China, 2018-2022 first appeared on CRI Report.

Commercial vehicles are vehicles designed with specific technology for delivery of passengers and cargos. They contain all freight vehicles and the passenger vehicles with more than 9 seats.

Commercial vehicles can be classified as passenger vehicles and freight vehicles. Freight Vehicles are vehicles with specific design and equipment for goods carriage. They can be divided into two types by purpose: dump trucks that are mainly used in coal mining and industrial mining, and tractor trucks that are mostly applied in long-distance freight transport. Passenger vehicles are intended for delivery of large numbers of passengers and their baggage. They are usually subdivided into large, medium and light ones according to the body length and seating capacity.

Highway transportation has an advantage over aerial, railway and water transportation in that it provides a door-to-door delivery in a cost-effective way. The total mileage of highway was 4,696.3 thousand kilometers in China by the end of 2016, with an increase of 2.6% over the previous year. The highway density reached 48.92 km per hundred km² in 2016, with an increase of 1.24 km per hundredkm² over the previous year. China’s highway freight volume amounted to 33.413 billion tons in 2016, with a growth rate of 6.1% over 2015. The freight turnover volume reached 6,108.01 billion tons per km, with a growth rate of 5.4% over 2015. Constant increase in highway freight volume facilitates the demand for commercial vehicles in China.

The production volume of commercial vehicles exhibited an overall upward trend from 2012 to 2017, increasing from 3,748.1 thousand units to 4,208.7 thousand units in the past five years, with the growth rate fluctuating in the period. After a decline of 4.72% in 2012, the production volume shifted to an increase of 7.56% in 2013. Followed by plunges of over 5% both in 2014 and 2015, sharp increases took place in 2016 and 2017, particularly in 2017 when the year-on-year increase reached 13.81%.

Investment in urban rail transit, real estate, urban transformation and urbanization stimulated demand for commercial vehicles in 2013, particularly that for heavy trucks. However, the implementation of National IV Standard was delayed to 2014, which resulted in an overtime production of National Ⅲ-standard vehicles as unsold ones among automakers so as to make more profits. Moreover, restrictions on commercial vehicles that were released successively since 2014 forced down production volume in 2014 and 2015. Thanks to favorable policies to commercial vehicles and increased freight volume in recent years, demand for freight vehicles are being stimulated and a high production volume is achieved once again.

The commercial vehicle market is largely influenced by national policies. For example, the Chinese government’s restrictions on commercial vehicles in 2014 and 2015 caused the overall production volume to decline. Since 2016 when subsidy policies were adopted, the production volume of commercial vehicles recovered to some degree. As the toll-by-load policy was carried out on highways, light trucks grew in sales. As new emission standards are issued, technological innovation within enterprises accelerates, further promoting sales volume of new-energy commercial vehicles.

With constant improvement in infrastructure and rural roads in China, the freight volume and passenger volume on highways are expected to keep growing from 2018 to 2022, driving forward the development in commercial vehicle industry.

Readers Can Obtain the Following Information or More Through This Report:

-Economic and Policy Environment of Commercial Vehicle Industry in China

-Analysis of Supply and Demand in Commercial Vehicles in China

-Production Cost and Sales Price of Commercial Vehicles in China

-Analysis on Import and Export of Commercial Vehicles

-Competition in Commercial Vehicle Market in China

-Top10 Commercial Vehicle Manufacturers in China

-Driving Forces and Market Opportunities in Commercial Vehicle Industry in China, 2018-2022

-Threats and Challenges in Commercial Vehicle Industry in China, 2018-2022

-Forecast on Supply and Demand of Commercial Vehicles in China, 2018-2022

The post Report on Commercial Vehicle Industry in China, 2018-2022 first appeared on CRI Report.