Description
Description
With economic growth and strong policy support, China’s electric vehicle industry has experienced rapid growth. From 2013 to 2017, the production of electric vehicles in China increased from 18,000 in 2013 to 794,000 in 2017 at a compound growth rate of 159.4%, and the sales increased from 18,000 in 2013 to 777,000 in 2017 at a compound growth rate of 157.6%.
The development of charging piles expands as the sales and reserves of electric vehicles grows rapidly in China. From 2013 to May 2018, the number of charging piles in China increased from more than 20,000 to more than 260,000. The number of charging piles in China is increasing rapidly but the growth rate is far behind that of electric vehicles, which means that there is a huge demand for charging piles in China. In 2017, the size of China’s charging pile market exceeded CNY 20 billion.
It is estimated that the sales of electric vehicles will continue to increase in China from 2018 to 2022 with the government’s policy support and the price reduction resulting from cost reduction. Critical to electric vehicles, the development of charging facilities will benefit fully from the fast growth of electric vehicles. The government’s policy support provides the charging pile industry with a plenty of market opportunities. And the immaturity of the industry also gives promise of huge development potential. In addition, the charging pile industry is a new industry that requires constant exploration. According to the NDRC’s Guidelines for Development of Electric Vehicle Charging Infrastructure (2015-2020), the development goal of China’s charging infrastructure is to build 12,000 charging stations and 4.8 million charging piles by 2020 to meet the charging needs of 5 million electric vehicles nationwide. The total investment in charging piles will exceed CNY 184 billion if the number of new energy vehicles reaches 5 million, the production capacity of electric vehicles reaches 2 million, and the total production and sales volume exceeds 5 million in 2020. Therefore, there will be a large growth potential for China’s charging pile market from 2018 to 2022.
Topics Covered:
– The policy environment and economic environment for the charging pile industry
– The development of China’s charging pile industry
– Major charging pile manufacturers in China
– Market competition of charging piles
– Driving forces and market opportunities for China’s charging pile industry, 2018-2022
– Prospects of China’s charging pile industry, 2018-2022
