San Francisco, CA (PRWEB) February 09, 2013
The Passenger Car Manufacturing industry in China has been experiencing rapid growth in recent years, driven by increasing demand for passenger cars in both domestic and foreign markets, says IBISWorld. Revenue for the industry was estimated to reach $381.3 billion in 2012, growing at an annualized rate of 21.3% over the past five years.
With rising income levels in China, improving road conditions, and competitive prices, passenger cars are becoming more affordable for Chinese residents. A series of favorable government policies have also stimulated passenger vehicle purchases in rural and urban China, says IBISWorld. Lastly, increasing numbers of domestic passenger car manufacturers have been expanding into foreign markets, driving export demand.
The top four industry players, Shanghai Automotive, FAW, Dongfeng and ChangAn are expected to account for a total market share of 54.5% of industry revenue. This indicates a medium level of industry concentration level, with no one player completely dominating the industry. The concentration level of the Passenger Car Manufacturing industry in China is forecast to increase with the operation expansion of top participants and more merger and acquisition activities, says IBISWorld.
Domestic passenger car manufacturers are improving product quality and low pricing has led to strong acceptance in emerging countries. Thus, exports are set to drive future revenue growth of the Passenger Car Manufacturing industry in China, says IBISWorld.
For more information, visit IBISWorld’s Passenger Car Manufacturing in China industry report page.
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IBISWorld Industry Report Key Topics
The Passenger Car Manufacturing industry in China is mainly engaged in manufacturing complete automobiles for use in transporting passengers. The major products manufactured in this industry include basic passenger cars, multipurpose vehicles (MPVs), sport utility vehicles (SUVs), and mini buses.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Globalization & Trade
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.