Automotive Market in China is expected to grow at a CAGR of 6.49% during the forecast period and is expected to reach US$ 3.24 Tn by 2029.

Automotive Market Overview:

The primary goal of this research is to assist the user in understanding the Automotive market in terms of definition, segmentation, market potential, significant trends, and the problems that the Automotive industry faces in key regions and nations. The market statistics and information were obtained from credible sources such as websites, annual reports of businesses, journals, and others, and were examined and validated by industry professionals.

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Market Scope:

The market statistics and information were obtained from credible sources such as websites, annual reports of businesses, journals, and others, and were examined and validated by industry professionals.

Market Dynamic:

Automobiles, including new energy vehicles, are one of ten categories of the Chinese government's Made in China 2025 programme, which aims to transition the country's industry from low-cost mass production to higher-value-added progressive manufacturing. The government's goal for new energy vehicles is to create 1 million electric and plug-in hybrid automobiles in China by 2021, with domestic production accounting for at least 70% of the country's market share. Furthermore, China aims to sell 3 million locally branded NEVs by 2025, accounting for at least 80% of the country's new energy vehicle market share. This effort is supported by China's Automobile Mid and Long-Term Development Proposal, which was issued in April 2017 and aims to make China a strong auto power within ten years.

Segmentation:

China's speciality auto parts market is expected to reach $2.08 Tn by 2022, with a CAGR of almost 30%. Despite the fact that China's Road Safety Law effectively outlaws modifications, the car modification industry remains popular in many developed cities. Foreign speciality equipment companies, on the other hand, have recognised the market's potential. The International Trade Administration continues to engage with Chinese business and government leaders on aftermarket issues and has provided information on how the United States handles its aftermarket with speciality equipment. The speciality Equipment Market Association has received an MDCP award from ITA to help US speciality components firms increase their exports to China.

By Type
Passenger Vehicles
Commercial Vehicles
Three Wheelers
Two Wheelers

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Key Players: The study discusses the key market players who are engaged in the industry, such as market players, raw material suppliers, equipment suppliers, end users, traders, distributors, and so on. The key players in the Automotive market are

1. Honda
2. Geely Auto
3. Dongfeng Motors
4. Changan Automobile
5. Faw Group
6. Great Wall Motors
7. SAIC-Wuling-GM
8. Byd Auto Co. Ltd
9. Brilliance Auto
10. Chery
11. Lifan Group
12. Green Field Motors
13. Volkswagen
14. HONGQI
15. FAW Group
16. Chana
17. GWM
18. Qoros
19. XPeng
20. Wuling

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Regional Analysis:

The report focuses on Global Regions and Market Size of Automotive , and development forecast 2021-2027, including industries, major players, suppliers worldwide, and market share by regions, with company and product introduction, position in the market including their market status and development trend by types and applications, which will provide its price and profit status, and marketing status, with 2020 as the base year.

COVID-19 Impact Analysis on Automotive Market:

The report discusses the impact of COVID-19: Since the breakout of the COVID-19 virus in December 2019, the disease has spread to practically every country on the planet, prompting the WHO to declare it a public health crisis. The worldwide effects of the coronavirus epidemic are already being noticed, and they will have a considerable influence on the Automotive industry in 2021.

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Key Questions answered in the Automotive Market Report are:

What is the function of Automotive ?
What is the predicted revenue generation of the Automotive market?
At what growth rate is the Automotive market evolving?
Who are the major market giants operating in the Automotive market?
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