Wenzhou Reliabo Culture & Technology Co., Ltd. , https://www.reliabogroup.com
According to the “2010 Global Commercial Vehicle Industry Outlook Report†recently published by global business consulting company AlixPartners (Ai Ruibo), the global commercial vehicle production dropped by 29% last year, while the Chinese commercial vehicle market has grown by more than 22% against the market. Production units account for 49% of global production. In the first half of this year, China’s commercial vehicle market further increased by 76%. Although the average value of commercial vehicles in China is relatively low, China has a huge share of global commercial vehicle production, effectively challenging commercial vehicle manufacturers in developed countries such as Europe, America and Japan.
The profitability of domestic large-scale commercial vehicle companies is steadily increasing, enhancing their R&D capabilities and occupying more global market share. The output of five Chinese companies has ranked among the top 15 commercial vehicle companies in the world. They are: Dongfeng, FAW, CNHTC, Futian and Shaanxi Auto. And this strong demand will continue to grow rapidly. It is estimated that the global commercial vehicle production will increase by 1.8 million in 2014, of which more than 50% will come from China and other emerging markets.
Many countries in the world are now improving their vehicle emission standards. China currently implements Euro III emission standards and will implement Euro IV this year, and will implement Euro V emission standards in 2012.
At the same time, the improvement of infrastructure, the increase in energy prices, the implementation of safety standards, and the demand for high load capacity are driving China's commercial vehicle products to high-end development.
15 of the world's 15 largest commercial vehicle companies in China, Dongfeng Commercial Vehicles in China