Commercial vehicle are usually large trucks, buses or vans used to transport people, goods and material. China is one of the nations that contributes to over 50% of commercial vehicle production. The industry has grown in leaps and bounds over the couple of years. Even though the growth rates aren’t as impressive as two years back due to slowdowns in infrastructure and real estate business the Chinese Commercial Vehicle continues to grow at a sluggish pace. The economic conditions of China has also impacted its commercial vehicle industry but situations look to improve very soon and in the long run. Some of the major players of the Chinese commercial vehicle industry are Beiqi Foton Motor Co., Ltd., Dongfeng Automobile Co.,Ltd, Shenyang Jinbei Automotive Company Limited, Anhui Jianghuai Automobile Co.,Ltd., Liaoning SG Automotive Group Co.,Ltd., Jiangling Motors Corporation, Ltd., Xiamen King Long Motor Group Co., Ltd., CNHTC Jinan Truck Co., Ltd., Chongqing Changan Automobile Company Limited and Zhengzhou Yutong Bus Co.,Ltd.
The Chinese commercial vehicle industry is forecasted to grow at a compouned rate of 6% over 2014-2017. The Chinese market is primarily a fragmented one as there are different undertaking manufacturing various parts of the companies. This makes the market open to new entrants who specializes in a particular parts of the commercial vehicle. The Chinese commercial vehicle consists of a few state owned and privately owned manufacturing firms. The biggest challenge this market faces is from the low level of technical efficiency of the trucks in this market. The market is very competitive as majority chienese people prefer using a local brand compared to an international one. Due to close competition, companies resort to aggressive marketing strategies over time. Two privately owned companies Dongfeng Motor and FAW who own 21% and 19% of market share respectively are into stiff competition to become the market leader of the China Commercial Vehicle Industry.
The chienese market thrives on its low cost offering of manufactured products. Market leader consider this to be the biggest opportunity that will help the Commercial Vehicle Industry in China to become the industry topper very soon. China is one of the leading nations in exporting commercial vehicles to developed countries. The industries in China are also spreading its wings in setting up factories overseas to meet the local demand of that place. In order to explore this market further one can refer to the China Commercial Vehicle Industry Report, 2014-2017@ http://www.rnrmarketresearch.com/china-commercial-vehicle-industry-report-2014-2017-market-report.html