China battery electric vehicle market is estimated to grow at a CAGR of more than 18.0% during the forecast period. The country is the largest automobile and electric vehicle market globally. More than 50% of the electric vehicle stock is in China until 2019. Government support and incentives are some of the major factors for the growth of BEV in the country. However, a downfall was recorded in 2019, when the government removed financial subsidies on electric cars. The country has one of the largest reserves of Lithium due to which it aims to reduce its dependence on fossil fuel. High air pollution and the need to reduce carbon footprints are some of the other factors due to which the government promoted electric vehicles in the country. Government regulations to demotivate the fossil fuel vehicle is expected to further drive the market in the country. 

Visit for Global Battery Electric Vehicle (BEV) Market Report at: https://www.omrglobal.com/industry-reports/battery-electric-vehicle-bev-market 

The market is segmented on the basis of vehicle type and battery type. Based on vehicle type, the market is further classified into commercial vehicles, passenger cars, and others. During the forecast period, the passenger vehicle market is forecast to hold the largest market share in the country. Based on the battery type, the market is sub-segmented into NiMH, Li-Ion, and others. Li-ion BEVs segment is projected to cover a major market share during the forecast period. 

Some of the major companies contributing to the market include BYD Auto Co., Ltd., SAIC Motor Corp. Ltd., BAIC Group, Chery Automobile Co., Ltd., Dongfeng Motor Corp., Great Wall Motors Co. Ltd., Hyundai Motor Co., Jaguar Land Rover Ltd., Nissan Motor Co., Toyota Motor Corp., Renault Group, Tesla, Inc. and so on. The market players are considerably contributing to the market growth by adopting various growth strategies including new product launch, merger and acquisition, collaborations with government, and technological advancements to stay competitive in the market. In March 2020 Toyota Motor Corp. announced to invest around $1.22 billion in manufacturing new electric vehicle manufacturing units which will manufacture around 200,000 BEV, PHEV, and fuel cell vehicles. 

Research Methodology

The market study is incorporated by extensive primary and secondary research conducted by the research team.  Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. In the report, the analysis of the country is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts to bring authenticity to the reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.
• Government Websites

The report provides an in-depth analysis on market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. China Battery Electric Vehicle Market Research and Analysis by Vehicle Type 
2. China Battery Electric Vehicle Market Research and Analysis by Battery Type

The Report Covers

• Comprehensive research methodology of China Battery Electric Vehicle Market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting China Battery Electric Vehicle  Market.
• Insights about market determinants which are stimulating China Battery Electric Vehicle Market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.