$763.0bn
$XX.Xbn
1m
150
$XX.Xbn
Revenue for the Automobile Manufacturing industry is expected to increase by a CAGR of 1.5% over the five years through 2023, including a growth rate of 0.7% in 2023 alone, to total $763.0 billion. Rising domestic demand across urban and rural areas and increasing exports have driven industry revenue growth over the period.Rising household income levels and competitive pricing have encouraged more Chinese consumers to purchase automobiles over the past five years, particularly in major cities. A series of favorable government policies and subsidies for car-buyers in rural areas, have further boosted industry revenue.With intensifying market competition, large number of automobile manufacturers have adopted reducing prices measures to enlarge sales volume and market shares. In 2023, industry profitability is expected to decrease to 3.3%, lower than 8% in 2018.The development of new energy vehicles has been an important strategic measure of the Government in China to deal with climate changes, promote green development and strengthen the competitiveness of China's automobile industry. More traditional automobile manufactures have launched more models to seize the opportunity in the new energy vehicle market in China.Strong support for new energy automobile development from the Chinese Government, and growth across fourth- and fifth-tier cities and rural areas is forecast to drive significant industry growth over the next five years. Industry revenue is anticipated to grow by a CAGR of 2.0% over the five years through 2028 to reach $841.5 billion.
Industry revenue has grown at a CAGR of 1.5 % over the past five years, to reach an estimated $763.0bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2023 | Revenue ($short_0)
2023 |
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There are no companies that hold a large enough market share in the Automobile Manufacturing in China industry for IBISWorld to include in this product.
Industry revenue is measured across several distinct product and services lines, including MPVs, SUVs and Basic vehicles. MPVs is the largest segment of the Automobile Manufacturing in China.
Sport utility vehicles are the largest segment
Operators in the Automobile Manufacturing industry manufacture complete automobiles or automobile engines. The major products manufactured in this industry include complete and non-complete passenger and commercial vehicles, and automobile engines.
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New energy vehicles are developing rapidly. The development of new energy vehicles has brought great development opportunity for China’s automobile industry.
Learn about an industry's products and services, markets and trends in international trade.
The passenger vehicles are the major product of the industry. The sales volume of passenger vehicles, including basic vehicles, SUVs, MPVs and mini buses, accounts for 87.7% ...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Guangdong is the largest province for the industry. Guangdong has formed an automobile industrial cluster, with lower manufacturing cost advantage.
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The industry concentration level is low. The top four players in the industry are SAIC Motor, FAW, BYD and BAIC, with a joint market share of 36.6% in 2023.
Learn about the performance of the top companies in the industry.
Chinese brand enterprises develop rapidly. Accelerating development pace of new energy vehicles benefits expanding market shares of Chinese brand enterprises.
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
The Government in China supports development of the new energy vehicles. The development of new energy vehicles has been an important strategic measure of the Government in C...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
The industry profitability has decreased. Insufficient market demand for fuel vehicles has contributed to decreasing industry profitability and large number of automobile man...
Including values and annual change:
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Key data sources in China include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
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The market size of the Automobile Manufacturing industry in China is $763.0bn in 2024.
There are 150 businesses in the Automobile Manufacturing industry in China, which has grown at a CAGR of 2.0 % between 2019 and 2024.
The market size of the Automobile Manufacturing industry in China has been growing at a CAGR of 1.5 % between 2019 and 2024.
Over the next five years, the Automobile Manufacturing industry in China is expected to grow.
MPVs and SUVs are part of the Automobile Manufacturing industry.
The level of competition is high and increasing in the Automobile Manufacturing industry in China.