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Alternative-Fuel Car & Automobile Manufacturing in China Industry Data and Analysis
The Alternative-Fuel Car & Automobile Manufacturing industry in China has developed strongly in the past five years due to government favorable policies that have resulted in improving vehicle performances, increasing numbers of charging facilities, and changing attitudes toward environmental protection. Industry revenue is expected to increase at a CAGR of 51.2% over the past five years through 2025, to total $231.8 billion. This includes growth of 20.2% in the current year. Industry profit is relatively high, averaging 10.9% of industry revenue in 2025, lower than 11.4% in 2020, mainly due to intensified market competition.With improved international competitiveness of Chinese branded alternative-fuel automobiles, exports grow fast. Industry exports have increased fast over the past five years, with a CAGR of 84.9%. Industry exports are estimated at $50.7 billion in 2025, an increase of 19.0% from 2024. Exports as a share of industry revenue have increased strongly from 8.0% in 2020 to 21.9% in 2025. Import levels are low in this industry, accounting for 1.0% of domestic demand in 2025, although they have been increasing fast at an annualized rate of 13.1% since 2020.In March 2022, the Medium and Long-Term Plan of the Development of Hydrogen Energy Industry (2021-2035) was issued, clearly proposing that the number of fuel cell vehicles in use should increase to approximately 50,000 units at the end of 2025. with improvement of infrastructure and policy optimization, the operation and maintenance of fuel cell vehicles will be more convenient and reliable, promoting the popularization and promotion of fuel cell vehicles.This industry is forecast to continue growing strongly over the next five years, benefiting from rising domestic consumption, ongoing government support and improving technology. Industry revenue is expected to increase at an annualized rate of 11.2% over the period, amounting to $394.7 billion in 2030. Meanwhile, more and more China's alternative-fuel vehicle manufacturers will accelerate speed of developing overseas market and continually improve the international service network, promoting increasing exports of alternative-fuel automobiles. Exports are forecast to grow at a CAGR of 17.3% over the five years through 2030, with share of industry revenue being 28.6% in 2030.
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What's included in this industry analysis
IBISWorld's research coverage on the Alternative-Fuel Car & Automobile Manufacturing industry in China includes market sizing, forecasting, data and analysis from 2015-2030. The most recent publication was released May 2025.
About this industry
What's this industry report about?
The Alternative-Fuel Car & Automobile Manufacturing industry in China operates under the industry code 3721b. Companies in the Alternative-Fuel Car and Automobile Manufacturing industry in China mainly produce battery-powered electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs) and fuel cell vehicles (FCVs) for passenger and commercial use. Related terms covered in the Alternative-Fuel Car & Automobile Manufacturing industry in China include alternative-fuel vehicle, battery electric vehicle (bev), plug-in hybrid electric vehicle (phev) and fuel cell vehicle (fcv).
What's included in this industry?
Products and services covered in Alternative-Fuel Car & Automobile Manufacturing industry in China include Battery electric vehicles, Plug-in hybrid electric vehicles and Fuel cell vehicles.
What companies are included in this industry?
Companies covered in the Alternative-Fuel Car & Automobile Manufacturing industry in China include BYD Company Limited, Li Auto Inc. and Tesla, Inc.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Alternative-Fuel Car & Automobile Manufacturing industry in China.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed product and service segmentation, analysis of major markets and international trade data for the for the Alternative-Fuel Car & Automobile Manufacturing industry in China.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Alternative-Fuel Car & Automobile Manufacturing industry in China.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Alternative-Fuel Car & Automobile Manufacturing industry in China. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Alternative-Fuel Car & Automobile Manufacturing industry in China. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Alternative-Fuel Car & Automobile Manufacturing industry in China. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Alternative-Fuel Car & Automobile Manufacturing industry in China. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Alternative-Fuel Car & Automobile Manufacturing industry in China.
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Frequently Asked Questions
What is the market size of the Alternative-Fuel Car & Automobile Manufacturing industry in China in 2026?
The market size of the Alternative-Fuel Car & Automobile Manufacturing industry in China is $231.8bn in 2026.
How many businesses are there in the Alternative-Fuel Car & Automobile Manufacturing industry in China in 2025?
There are 141 businesses in the Alternative-Fuel Car & Automobile Manufacturing industry in China, which has grown at a CAGR of 2.4 % between 2020 and 2025.
How may import tariffs affect the Alternative-Fuel Car & Automobile Manufacturing industry in China?
The Alternative-Fuel Car & Automobile Manufacturing industry in China is unlikely to be materially impacted by import tariffs with imports accounting for a low share of industry revenue.
How may export tariffs affect the Alternative-Fuel Car & Automobile Manufacturing industry in China?
The Alternative-Fuel Car & Automobile Manufacturing industry in China is likely to be significantly impacted by export tariffs with exports accounting for a high share of industry revenue.
Has the Alternative-Fuel Car & Automobile Manufacturing industry in China grown or declined over the past 5 years?
The market size of the Alternative-Fuel Car & Automobile Manufacturing industry in China has been growing at a CAGR of 51.2 % between 2020 and 2025.
What is the forecast growth of the Alternative-Fuel Car & Automobile Manufacturing industry in China over the next 5 years?
Over the next five years, the Alternative-Fuel Car & Automobile Manufacturing industry in China is expected to grow.
What are the biggest companies in the Alternative-Fuel Car & Automobile Manufacturing industry in China?
The biggest companies operating in the Alternative-Fuel Car & Automobile Manufacturing industry in China are BYD Company Limited, Li Auto Inc. and Tesla, Inc.
What does the Alternative-Fuel Car & Automobile Manufacturing industry in China include?
Battery electric vehicles and Plug-in hybrid electric vehicles are part of the Alternative-Fuel Car & Automobile Manufacturing industry in China.
Which companies have the highest market share in the Alternative-Fuel Car & Automobile Manufacturing industry in China?
The company holding the most market share in the Alternative-Fuel Car & Automobile Manufacturing industry in China is BYD Company Limited.
How competitive is the Alternative-Fuel Car & Automobile Manufacturing industry in China?
The level of competition is high and increasing in the Alternative-Fuel Car & Automobile Manufacturing industry in China.
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