Industry Overview
The China Light Electric Vehicle Market is predicted to grow at 7.4% CAGR during the forecast period due to the increasing support from policymakers, full-scale research centers, and the presence of large manufacturing units.
Different products including e-scooters, e-rickshaws, and e-bikes are majorly contributing to the light electric vehicle market size in China. The market has witnessed significant demand for products and services over the last few years with the increasing urbanization and increasing disposable income.
China Light Electric Vehicle Market Report Coverage
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Report Metric
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Details
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Historical Period
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2018 - 2023
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Base Year Considered
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2024
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Forecast Period
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2025 - 2030
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Market Size in 2023
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U.S.D. XX Billion
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Revenue Forecast in 2030
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U.S.D. XX Billion
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Growth Rate
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7.4%
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Segments Covered in the Report
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By Product, By Voltage, By Application, and By Battery
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Report Scope
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Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling
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Regions Covered in the Report
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China
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China Light Electric Vehicle Industry Dynamics
China Light Electric Vehicle Market Trends/ Growth Drivers:
The Chinese government is the most important driver of the light electric vehicle market through a range of financial incentives that include tax reductions, direct subsidies, and exemptions on vehicle purchase taxes. Also government has set ambitious goals for electric vehicle adoption. The government has made EV adoption more convenient for consumers by investing in expanding the charging network. The increasing support from policymakers, full-scale research centers, presence of large manufacturing units, and technological advancements are fueling the growth of the Chinese light electric vehicle market. Technological advancements in the electric vehicle industry have made light electrical vehicles affordable and increased their performance and efficiency. The major reason for the affordable prices of light electric vehicles is the advancement in battery technology.
The decline in electric vehicle battery cost has an overall impact on the cost of electric vehicles. OEMs are investing capital in research and development to further increase the efficiency of the electric battery along with reducing their cost. Most of the light electric vehicles run on lithium-ion batteries, for which manufacturers are researching to increase its charging capacity. With the expanding charging infrastructure and increasing investment for reducing the overall production cost and improving travel range, the light electric vehicle market In China is anticipated to grow considerably in the coming years.
China Light Electric Vehicle Market Challenges
Uncertain legislation for the regulation of electric two-wheelers such as kick scooters and three-wheelers has led to uncertainty in the market. With the lack of regulations, the government in several cities in China is planning to ban or allow the usage of only licensed electric vehicles. This results in uncertainty in the market and thus hampers the manufacturing and adoption of these vehicles in the country.
China Light Electric Vehicle Market Segmentation:
VynZ Research provides an analysis of the key trends in each segment of the China Light Electric Vehicle Market report, along with forecasts at the regional and country levels from 2025-2030. Our report has categorized the market based on product, and voltage.
Insight by Product
- Hybrid Electric Vehicles(HEVs)
- Plug-in Hybrid Electric Vehicles (PHEVs)
- Battery Electric Vehicles (BEVs)
Based on product, the market is categorized into two-wheelers, three-wheelers, and four-wheelers, of which two-wheelers hold the largest share in the Chinese light electric vehicle market. The Chinese light electric two-wheelers market is further categorized into e-scooters, e-bikes, e-motorbikes, and others. E-scooters hold the largest share of the Chinese market. E-scooters as indicated are electrically powered motorized vehicles, with a floorboard design that distinguishes them from e-motorbikes. The top speed of e-scooters is more than 25 km/hr and generally around 50km/hr.The Chinese light electric three-wheeler market is further segmented into e-rickshaw, e-auto, and others. E-rickshaws are the most preferred three-wheeler category in China. E-rickshaws are the typical three-wheelers with a top speed of around 25km/hr. These are alternatives to conventional pull rickshaws with pedals and auto rickshaws. A typical e-rickshaw carries 4+1 or 3 passengers at a time. Different types of light electric four-wheelers included in the study are electric quads, electric golf carts, and electric go-carts, among others.
Insight by Voltage
Based on voltage, the market is 24V, 36V, 48V, 60V, and 72V. Of all, 48V light electric vehicles hold the largest share in the Chinese light electric vehicle market. Most of the e-rickshaws and e-scooters run with a battery of 48V which provides optimum power to perform well in the major metropolitan cities.
Insight by Application
- E-Vehicles for Personal Use
- Commercial Applications
- Sports
- Shared Mobility Solutions
Personal Use Vehicles segment will grow due to higher demand
On the basis of its applications the China light electric vehicle market is divided into E-Vehicles for Personal Use, Commercial Applications, Sports, and Shared Mobility Solutions. Among them,the personal use vehicles segment is dominating and will grow more due to rapid urbanization, rising commercial applications, and cost-effectiveness.
Insight by Battery
- Lithium cobalt batteries (LCA)
- Lithium-ion polymer batteries (LiPo)
- and Nickel-metal hydride batteries (NIMH)
Lithium-Ion Batteries dominate due to performance advantages
On the basis of battery the China light electric vehicle market is segmented into Lithium cobalt batteries (LCA), Lithium-ion polymer batteries (LiPo), and Nickel-metal hydride batteries (NIMH) categories. Among them, the Lithium-ion batteries segment dominates due to higher efficiency, and energy density.
China Electric Two-Wheeler Market: Geographic Overview
China
Competitive Insight
Market players in the Chinese light electric vehicle industry are investing capital to develop low-cost electric vehicles with better performance to provide them with distinctive advantages. Jiangsu East YonslandVehicle Manufacturing Co., Ltd. and Jiangsu Kingbon Vehicle Co., Ltd lead the light electric vehicles market in China.
Aima Technology Group Co Ltd is involved in the research and development, production and sales of electric bicycles, electric mopeds, and electric motorcycles.
Jiangsu Xinri E-Vehicle Co Ltd mainly is engaged in the research, development, production, and sales of green transportation in China. Its main products include other non-motor vehicles, electric bicycles, electric sightseeing cars, electric tricycles and so on.
The China Light Electric Vehicle Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2025–2030.
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