China two wheeler market forecast & opportunities, 2024 - TechSci Research

2014 - 2024

CHINA TWO-WHEELER MARKET COMPETITION FORECAST & OPPORTUNITIES

PUBLISHED : OCTOBER 2019 MARKET INTELLIGENCE . CONSULTING

Ta b l e o f C o n t e n t s S. No.

Contents

1.

Product Overview

2.

Research Methodology

3.

Executive Summary

4.

Voice of Customer 4.1.

Factors Influencing Purchase Decision

4.2.

Influencer of Purchase

4.3.

Unaided/Aided Brand Recall

4.4.

Brand Satisfaction Level

5.

China Two-Wheeler Production Overview

6.

China Two-Wheeler Market Outlook 6.1

Market Size & Forecast 6.1.1.

6.2.

6.3.

By Value & Volume

Market Share & Forecast 6.2.1.

By Vehicle Type (Scooter, Motorcycle and electric two-wheeler)

6.2.2.

By Company

6.2.3.

By Region

Market Attractiveness Index (By Vehicle Type)

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Ta b l e o f C o n t e n t s S. No. 7.

Contents China Scooter Market Outlook 7.1

Market Size & Forecast 7.1.1.

7.2.

7.3.

8.

By Value & Volume

Market Share & Forecast 7.2.1.

By Engine Capacity (Up to 125cc, 125-150cc and Above 150cc)

7.2.2.

By Models

7.2.3.

By Type of Sales (Individual vs Institutional)

7.2.4.

By Company

7.2.5.

By Region

Market Attractiveness Index (By Engine Capacity)

China Motorcycle Market Outlook 8.1

Market Size & Forecast 8.1.1.

8.2.

8.3.

By Value & Volume

Market Share & Forecast 8.2.1.

By Engine Capacity (Up to 150cc, 150-250cc, 250-500cc, 500-750cc, Above 750cc)

8.2.2.

By Models

8.2.3.

By Type of Sales (Individual vs Institutional)

8.2.4.

By Company

8.2.5.

By Region

Market Attractiveness Index (By Engine Capacity)

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Ta b l e o f C o n t e n t s S. No. 9.

Contents China Electric Two-Wheeler Market Outlook 9.1

Market Size & Forecast 9.1.1.

9.2.

9.3.

By Value & Volume

Market Share & Forecast 9.2.1.

By Battery Capacity (<25Ah and >25Ah)

9.2.2.

By Models

9.2.3.

By Type of Sales (Individual vs Institutional)

9.2.4.

By Company

9.2.5.

By Region

Market Attractiveness Index (By Battery Capacity)

10.

Import- Export Analysis

11.

Pricing Analysis of Prominent Models

12.

Market Dynamics 12.1.

Drivers

12.2.

Challenges

13.

Market Trends & Developments

14.

China Economic Profile

15.

Policy & Regulatory Landscape

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Ta b l e o f C o n t e n t s S. No. 16.

Contents Competitive Landscape 16.1

Jiangmen Dachangjiang Group Co., Ltd.

16.2.

Loncin Holdings Co., Ltd.

16.3.

Lifan Holdings Co., Ltd.

16.4.

Zongshen Industry Group Co., Ltd.

16.5.

Chongqing Yinxiang Industrial Group Co., Ltd

16.6.

Sundiro Honda Motorcycle Co., Ltd.

16.7.

Yadea Group Holdings Ltd.

16.8.

AIMA Technology Co., Ltd

16.9.

Zhejiang Luyuan Electric Vehicle

16.10.

Dongguan Tailing Electric Vehicle Co., Ltd.

17.

Strategic Recommendations

18.

About Us & Disclaimer

5 © TechSci Research

Product Overview

Motorcycle Definition A Motorcycle is defined as “A two-wheeled motor vehicle with engine mounted in middle of the frame, with a fuel tank above it, and a manual clutch and gear system.”

Scooter Definition A Scooter is defined as “A two-wheeled motor vehicle which has a step through frame and the engine located between the rider and the rear.”

Moped Definition A Moped is defined as “A light weight two-wheeler with engine capacity not more than 100cc. The engine is located below the driver seat with an overlay of plastic or nonstructural body panels.”

Electric Two-Wheeler Definition A Electric Two-Wheeler is defined as ”Two-Wheeler that are powered by electricity.

Electric two-wheelers can be divided into two categories, namely, electric scooters (e-scooters) and electric motorcycles (e-motorcycles). A battery pack and a motor are installed in the vehicles to store and transform the electricity. The user control is attached to the handle bar to stop and adjust the speed”.

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Research Methodology

Market Profiling

In-depth secondary research was conducted to determine top players in China two-wheeler market, overall market size and segmental market size.

Formulating Questionnaire

In order to conduct industry experts’ interviews, TechSci formulated a detailed questionnaire.

Data Collection

Developing List of Respondents

Data obtained as a result of primary and secondary research was validated through rigorous triangulation.

TechSci conducted interviews with industry experts and industry players for data collection and verification.

List of industry players and industry specialists was developed.

Primary Research

Data Collection

Data Filter & Analysis

Research & Intelligence

Actionable Insights

Business Solution

Company Analysis

✓ Recent Developments ✓ Market Changing Aspects/Dynamics ✓ Government Policies ✓ Final Conclusion

Primary Research LinkedIn TechSci Internal Database

The data was scrutinized using MS-Excel, statistical tools and internal proprietary database to obtain qualitative and quantitative insights about China two-wheeler market.

Desk Research

✓ Identifying Key Opinion Leaders ✓ Questionnaire Design ✓ In-depth Interviews

✓ ✓

Data Analysis

Data Validation

✓ Market Participants ✓ Key Strengths

Secondary Research ✓ ✓ ✓ ✓ ✓ ✓ ✓

Company Websites Company Annual Reports White Paper Study Financial Reports Investor Presentations Regulatory Body Associations, etc.

Paid Sources ✓ ✓

Factiva Hoovers

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Research Methodology

Baseline Methodology:

For the study, TechSci Research has gathered information through primary research surveys with leading two-wheeler companies

operating in China. We also put through an exhaustive search of credible paid databases, such as Factiva, Hoovers, and other industry report, etc., including our internal database. Our team of analysts has then prudently evaluated all the collected information and presented the same in chronological order to depict a meaningful and clear picture of China two-wheeler market.

While compiling the data, we have also cross checked all the collected information from multiple sources and data warehouses, so as to present the most accurate and precise information of the concerned industry. We have used innovative business model that

focuses on improving productivity, while ensuring creation of high-quality reports.

Market Size Calculation Technique:

Primary Research For the preparation of China two-wheeler market report, bottom-up model has been used, which has been later cross-validated by using top-down approach. TechSci interviewed senior managers and regional managers of the prominent two-wheeler companies using Delphi technique for calculating the China two-wheeler market size. Respondents were also asked about the current and future growth rates, market share by vehicle type, etc. All the information gathered was carefully analyzed. Data points which exhibited high deviations from the majority estimates were eliminated as outliers and the remaining refined data points were put together to arrive at the volume data.

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Research Methodology Secondary Research: We have also put through an exhaustive search of credible paid databases, such as Factiva, Hoovers, etc., in addition to our internal database. Further analysis of credible publications, white papers, companies’ annual reports, investor presentations, news articles, etc., was done to cross-validate the end findings derived from primary research.

Secondary Research

Primary Research – Few of the Companies Interviewed S. No.

Company Names

1.

Dachangjiang

2.

Loncin

3

Lifan

4.

Wuyang Honda Luoyang Shengjiang Hongqiang motorcycle limited company

5.

6.

Dongguan tailing Vehicle Industry Co., Ltd.

7.

Zongshen Industrial Group Limited

8.

Wuyang-Honda Moto

S. No.

Secondary Sources

1.

CAAM

2.

EVCIPA

3

UN Contrade

4.

FAMI

5.

IMF

6.

World Bank

Forecasting Technique: The team has done forecasting on the basis of econometric and judgemental analysis in addition to statistical techniques, such as averaging, and geometric mean. During primary interviews, questions regarding historical trends of two-wheeler market during the last five years were put forward. Respondents were asked about the current and future growth rates, market share by vehicle type, in China. In order to forecast China two-wheeler market, following forecast techniques have been used:

•

Time Series Analysis

•

Econometric and Judgmental Analysis

•

Moving Average © TechSci Research

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INDUSTRY BRIEF According to TechSci Research report, “China Two-Wheeler Market By Vehicle Type, By Engine/Battery Capacity, By Type of Sales, By Region, Forecast & Opportunities, 2024”, China two-wheeler market is projected to cross USD22 billion by 2024, backed by growth in electric two wheeler sales and increasing number of female population in different Chinese states as well as increasing tourism translating into the demand for two-wheelers as it is commonly used by travellers. Major two-wheeler giants such as Dachangjiang, Loncin and Lifan, Wuyang Honda, Zongshen Industrial Group Limited etc., are enhancing their product offerings to gather more customer concentration towards their products.

With a dominating volume market share of over 55% in China two-wheeler market, scooter/moped segment dominated the country’s two wheeler market, followed by motorcycle segment, as of 2018. Demand for public transportation used for last mile

connectivity in major cities of China as well as increasing inclination of consumers towards small and easy manoeuvrable modes of transport, has given enough stimuli to the two wheeler industry across the country over the last five years.

“Growing presence of various multinational companies such as Honda, Suzuki, Yamaha, Harley Davidson, BMW, Piaggio and Kawasaki, coupled with their continued research and developments to manufacture premium two-wheelers as well as to offer a wide range of products is expected to intensify competition in China two-wheeler market in the coming years. Moreover, rising average selling price of two-wheelers and growing sales of two-wheelers are forecast to boost revenues of China two-wheeler players during 2019-2024”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm. © TechSci Research

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S A M P L E D ATA - S N A P S H O T China Two-Wheeler Market Size, By Value (USD Billion), By Volume (Million Unit), 2014-2024F CAGR 2019E-2024F

CAGR 2014-2018

By Value: xx%

By Volume: xx%

By Value: xx%

By Volume: xx%

2014

2015

2016

2017

2018

2019E

2020F

Value (USD Billion) China Scooter Market Share, By Company, By Volume, 2018 Dachangjia ng 20.00%

Others 20.00%

2021F

2022F

2023F

2024F

Volume (Million Unit) China Motorcycle Market Attractiveness Index, By Engine Capacity, By Volume, 2019E-2024F 6.00 Above 750CC

5.00

500-750CC

4.00 3.00 Loncin 20.00%

Lifan 20.00%

250-500CC

2.00

150-250CC Up To 150CC

1.00

Zongshen 20.00%

0.00 0.00

1.00

2.00

3.00

4.00

5.00

6.00

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About Us & Disclaimer About Us: TechSci Research is a global market research and consulting company with offices in Canada, India and the UK. TechSci Research provides market research reports in a number of areas to organizations. The company uses innovative business models that focus on improved productivity, while ensuring creation of high-quality reports. The proprietary forecasting models use various analyses of both

industry-specific and macroeconomic variables on a state-by-state basis to produce a unique ‘bottom-up’ model of a country, regional and global industry prospects. Combined with the detailed analysis of company activity and industry trends, the result is a uniquely rich evaluation of the opportunities available in the market.

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•

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•

Global Three Wheeler Market Competition Forecast & Opportunities, 2014-2024

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Disclaimer: The contents of this report are based on information generally available to the public from sources believed to be reliable. No representation is made that it is timely, accurate or complete. TechSci Research has taken due care and caution in compilation of data as this has been obtained from various sources including which it considers reliable and first hand. However, TechSci Research does not guarantee the accuracy, adequacy or completeness of any information and it is not responsible for any errors or omissions or for the results obtained from the use of such information and especially states that it has no financial liability whatsoever to the subscribers / users of this report. The information herein, together with all estimates and forecasts, can change without notice. All the figures provided in this document are indicative of relative market size and are strictly for client’s internal consumption. Usage of the same for purpose other than internal will require prior approval of TechSci Research.

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