China Commercial Vehicle Market Size, Share, Trends and Forecasts to 2014

China Commercial Vehicle Market Size, Share, Trends, Company Profiles,

Demand, Insights, Analysis, Research, Report, Opportunities, Segmentation

and Forecast To 2017

The commercial vehicle market aims to reach a volume of 29 million units by 2020. Commercial

vehicles make the transport easier between states and national borders. The sale of commercial

vehicles provides growth opportunities for logistics and transportation industries. Asia Pacific is

the region with the greatest growth potential, with China being considered a prime source of

revenue.

The China commercial vehicle industry is projected to register a 6% CAGR during the forecast

period (2014-2017). The market is estimated to attain revenue worth USD 5.12 million by 2017.

The growth of the market is interlinked to the country’s GDP (Gross Domestic Product), as

evident by the fall of China’s GDP to 7.7%. While the GDP enjoyed a slow growth, sales and

output of the industry had increased by 6.4% and 7.6% respectively. Regulations pertaining to

environment are expected to drive innovation in the industry, spurring market demand in the

process.

The China commercial vehicle industry is segmented by products. Buses, cars, and trucks

comprise as major products of the market. Trucks enjoyed a sales volume of 2.7 million units. It

is expected to grow with an annual growth rate of 2.8%. This segment will enjoy a stable growth

rate on account of China’s macro economy. Heavy-duty trucks, a sub-segment of trucks had the

maximum share of the market.

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The passenger car segment has witnesses a surge on account of sales of tourist and school buses.

Passenger cars enjoyed a sales volume of 477,000 units in 2013. It had a 12% increase as

compared to the previous year (2012). It had an output of 483,000 units in 2013. The bus market

is predicted to experience a CAGR of around 10% till 2017. In the bus...