Press release
Mar 13, 2023
Global EV market grew 55% in 2022 with 59% of EVs sold in Mainland China
Embracing electrification and intelligent vehicles
Gain valuable insights from Canalys’ industry analysts into the rapidly evolving global automotive industry with our special complimentary report, “The rise of Chinese automakers”. This report explores the challenges and opportunities in the global and domestic automotive chipset markets.
Major vehicle manufacturing giants unanimously agree that electrification and intelligent vehicles are driving a transformative wave throughout the global automotive industry. In early 2023, Chinese companies that previously lagged in electric vehicle (EV) transformation significantly increased their investments and accelerated development. This report analyzes the future trends in the automotive industry and the prospects for the automotive chipset industry based on the current and forecast performance of the overall light vehicle market, including passenger cars and light commercial vehicles.
Key findings:
- The worldwide light vehicle market is expected to experience a gradual recovery, with sales projected to reach 83.4 million in 2025 and 88.3 million in 2030.
- Canalys expects rapid development of the global light EV market due to clear government policies, increased coverage of charging and energy storage facilities, and more affordable EVs in 2023.
- The automotive chipset industry is expected to continue growing, with the global market for light EV chipsets projected to reach US$51.1 billion by 2025.
- The market for ADAS and digital cockpit SoCs is maturing, presenting both opportunities and challenges for automotive supply chain companies.
Request your complimentary copy of Canalys’ “The rise of Chinese automakers” report today, and we’ll email it to you, so you can stay ahead and help make informed strategic decisions.
What’s in the report?
In this report, you will find:
- An analysis of the global light vehicle market and its growth prospects.
- A forecast of the global and Chinese EV market and its segments in 2025.
- An overview of the global and Chinese automotive chipset markets and their drivers.
- Predictions around L2, L3 and L4- assisted driving functionality.
- Total addressable market forecasts for global automotive chipsets (US$).
- Total addressable market forecasts for Chinese automotive chipsets in 2025 (US$).
- Trends in Chinese OEM exports.
- A comparison of the ADAS and digital cockpit SoC markets and their maturity.
- Chinese OEM regional market forecasts for 2025.
- A discussion of the key factors that shape product differentiation and competitiveness in the EV industry.
Why read the report?
This report is a must-read for anyone interested in the future of mobility and the rise of Chinese automakers in the global electric and intelligent vehicles market. You will learn how China has established differentiated competitive advantages regarding technological foresight, capital strength, talent reserves and supply chains. You will discover how OEMs have jointly promoted the rapid development of China’s EV industry alongside ecosystem players and the supply chain, with EV sales increasing by nearly 100% in 2022. You will also discover how automakers are shaping product differentiation and competitiveness by leveraging software services and functions that can be continuously upgraded. And you will gain access to exclusive data and analysis from Canalys, a leading global technology market analyst firm. Download the report now for free, and don’t miss this opportunity to gain valuable insights and recommendations.
