China Light Electric Vehicle Market

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.

Market Segmentation

Insight by Product

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.

Motor Technology Insight

Hub motors are gaining traction among manufacturers for the development of light electric vehicles. Hub motors are the BLDC motors built into the wheel. The electric vehicles with hub motors are mechanically less complex than others and therefore more popular in low-speed electric vehicles. The BLDC is the primary choice among the light electric these motors are lighter, smaller, and do not require periodic maintenance. Now with the introduction of permanent magnet BLDC motors, the industry is more aggressively adopting these motors for manufacturing light electric vehicles.

China Light Electric Vehicle Market Report Coverage

Report Metric	Details
Historical Period	2018 - 2023
Base Year Considered	2024
Forecast Period	2025 - 2030
Market Size in 2023	U.S.D.  XX Billion
Revenue Forecast in 2030	U.S.D.  XX Billion
Growth Rate	7.4%
Segments Covered in the Report	By Product,By Voltage,By Motor Technology
Report Scope	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
Regions Covered in the Report	China

Industry Dynamics

Market Drivers

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.

Major Challenges

Uncertain legislation for the regulation of electric two-wheelers such as kick scooters; and three-wheelers such as e-rickshaws 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.

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. Some of the other key players include AIMA Technology Group Co. Ltd, Zhejiang Luyuan Electric Vehicle Co., Ltd., Changzhou Yufeng Vehicle Co. Ltd., Jiangsu Xinri E-Vehicle Co., Ltd. (SUNRA) and Yadea Technology Group.

The Hybrid Powertrain Systems Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2025–2030.

Segments Covered in the Report

• Product
  • Two-wheelers
    • E-scooters
    • E-bikes
    • E-motorbikes
    • Others
  • Three-wheelers
    • E-rickshaw
    • E-auto
    • Others
    • Four-wheelers
• Voltage
  • 24V
  • 36V
  • 48V
  • 60V
  • 72V

 

PRIMARY RESEARCH INTERVIEWS - BREAKDOWN

1. Research Overview

1.1.  The Report Offers

1.2.  Market Coverage

1.2.1. By Product

1.2.2. By Voltage

1.3.  Research Phases

1.4.  Limitations

1.5.  Market Size Estimations and Forecast

1.5.1. Data Sources

1.5.1.1. Primary Research

1.5.1.2. Secondary Research

1.5.2. Methodology

1.5.2.1. Data Exploration

1.5.2.2. Forecast Parameters

1.5.2.3. Data Validation

1.5.2.4. Assumptions

1.5.3. Study Period & Data Reporting Unit

2. Executive Summary

3. Market Definition

3.1.  By Product

3.1.1. Two-Wheelers

3.1.1.1. E-Scooters

3.1.1.2. E-Bikes

3.1.1.3. E-Motorbikes

3.1.1.4. Others

3.1.2. Three-Wheelers

3.1.2.1. E-Rickshaw

3.1.2.2. E-Auto

3.1.2.3. Others

3.1.3. Four-Wheelers

3.2.  By Voltage

3.2.1. 24V

3.2.2. 36V

3.2.3. 48V

3.2.4. 60V

3.2.5. 72V

4. Industry Overview

4.1.  Industry Dynamics

4.1.1. Major Drivers

4.1.2. Major Restraints

4.1.3. Key Trends

4.1.4. Key Opportunities

4.2.  Industry Ecosystem

4.2.1. Value Chain Analysis

4.2.2. Regulatory Framework

4.3.  Competitive Insight

4.3.1. Market Share Analysis of Key Players

5. China Market Estimate and Forecast

5.1.  By Product

5.2.  By Voltage

6. Company Profiles

6.1.  Yadea Technology Group

6.1.1. Snapshot

6.1.2. Overview

6.1.3. Offerings

6.1.4. Financial Insight

6.1.5. Recent Developments

6.2.  AIMA Technology Group Co. Ltd.

6.2.1. Snapshot

6.2.2. Overview

6.2.3. Offerings

6.2.4. Financial Insight

6.2.5. Recent Developments

6.3.  Zhejiang Luyuan Electric Vehicle Co. Ltd

6.3.1. Snapshot

6.3.2. Overview

6.3.3. Offerings

6.3.4. Financial Insight

6.3.5. Recent Developments

6.4.  Jiangsu Xinri E-Vehicle Co., Ltd. (SUNRA)

6.4.1. Snapshot

6.4.2. Overview

6.4.3. Offerings

6.4.4. Financial Insight

6.4.5. Recent Developments

6.5.  Jiangsu Kingbon Vehicle Co. Ltd

6.5.1. Snapshot

6.5.2. Overview

6.5.3. Offerings

6.5.4. Financial Insight

6.5.5. Recent Developments

6.6.  Jiangsu East Yonsland Vehicle Manufacturing Co. Ltd

6.6.1. Snapshot

6.6.2. Overview

6.6.3. Offerings

6.6.4. Financial Insight

6.6.5. Recent Developments

6.7.  Changzhou Yufeng Vehicle Co. Ltd.

6.7.1. Snapshot

6.7.2. Overview

6.7.3. Offerings

6.7.4. Financial Insight

6.7.5. Recent Developments

6.8.  Xiaomi Inc.

6.8.1. Snapshot

6.8.2. Overview

6.8.3. Offerings

6.8.4. Financial Insight

6.8.5. Recent Developments

7. Appendix

7.1.  Exchange Rates

7.2.  Abbreviations

Note: Financial insights and recent developments are subject to the availability of information in the secondary domain.

List of Tables

Table 1 Sources

Table 2 Study Periods

Table 3 Data Reporting Unit

Table 4 Product Characterization

Table 5 China Light Electric Vehicle Market Size, By Product, Units (2018 – 2023)

Table 6 China Light Electric Vehicle Market Size, By Product, Units (2025 – 2030)

Table 7 China Light Electric Vehicle Market Size, By Product, USD Billion (2018 – 2023)

Table 8 China Light Electric Vehicle Market Size, By Product, USD Billion (2025 – 2030)

Table 9 China Two-Wheeler Light Electric Vehicle Market Size, By Type, Units (2018 – 2023)

Table 10 China Two-Wheeler Light Electric Vehicle Market Size, By Type, Units (2025 – 2030)

Table 11 China Two-Wheeler Light Electric Vehicle Market Size, By Type, USD Billion (2018 – 2023)

Table 12 China Two-Wheeler Light Electric Vehicle Market Size, By Type, USD Billion (2025 – 2030)

Table 13 China Three-Wheeler Light Electric Vehicle Market Size, By Type, Units (2018 – 2023)

Table 14 China Three-Wheeler Light Electric Vehicle Market Size, By Type, Units (2025 – 2030)

Table 15 China Three-Wheeler Light Electric Vehicle Market Size, By Type, USD Billion (2018 – 2023)

Table 16 China Three-Wheeler Light Electric Vehicle Market Size, By Type, USD Billion (2025 – 2030)

Table 17 China Light Electric Vehicle Market Size, By Voltage, Units (2018 – 2023)

Table 18 China Light Electric Vehicle Market Size, By Voltage, Units (2025 – 2030)

Table 19 China Light Electric Vehicle Market Size, By Voltage, USD Billion (2018 – 2023)

Table 20 China Light Electric Vehicle Market Size, By Voltage, USD Billion (2025 – 2030)

Table 21 Snapshot – Yadea Technology Group

Table 22 Snapshot – AIMA Technology Group Co. Ltd.

Table 23 Snapshot – Zhejiang Luyuan Electric Vehicle Co. Ltd

Table 24 Snapshot – Jiangsu Xinri E-Vehicle Co., Ltd. (SUNRA)

Table 25 Snapshot – Jiangsu Kingbon Vehicle Co. Ltd

Table 26 Snapshot – Jiangsu East Yonsland Vehicle Manufacturing Co. Ltd

Table 27 Snapshot – Changzhou Yufeng Vehicle Co. Ltd.

Table 28 Snapshot – Xiaomi Inc.

List of Figures

Figure 1 Market Coverage

Figure 2 Research Phases

Figure 3 Secondary Sources for Different Parameters

Figure 4 Methodology

Figure 5 Data Mining & Exploration

Figure 6 Data triangulation

Figure 7 Assumptions for Market Estimation and Forecast

Figure 8 China Light Electric Vehicle Market - Growth Drivers and Restraints

Figure 9 Value Chain Analysis

Figure 10 Competitive Benchmarking

Figure 11 China Light Electric Vehicle Market Highlight

Figure 12 China Light Electric Vehicle Market Size, By Product, Units (2018 - 2030)

Figure 13 China Light Electric Vehicle Market Size, By Product, USD Billion (2018 - 2030)

Figure 14 China Two-Wheeler Light Electric Vehicle Market Size, By Type, Units (2018 - 2030)

Figure 15 China Two-Wheeler Light Electric Vehicle Market Size, By Type, USD Billion (2018 - 2030)

Figure 16 China Three-Wheeler Light Electric Vehicle Market Size, By Type, Units (2018 - 2030)

Figure 17 China Three-Wheeler Light Electric Vehicle Market Size, By Type, USD Billion (2018 - 2030)

Figure 18 China Light Electric Vehicle Market Size, By Voltage, Units (2018 - 2030)

Figure 19 China Light Electric Vehicle Market Size, By Voltage, USD Billion (2018 - 2030)