|By PR Newswire||
|April 8, 2014 04:41 AM EDT||
BEIJING, April 8, 2014 /PRNewswire/ -- For the second consecutive year, Tianneng Power International Limited ("Tianneng", 00819.HK) has been honored by Ipsos, a leading global research house, with the China Leading Brand award for its E-bike Motive Battery. The award, based upon the assessment of a portfolio of indicators, including market share, sales growth, brand awareness, and customer satisfaction, recognizes Tianneng's performance and overall strength in the market. Tianneng leads the Chinese electrical battery market with a 35 percent and 51 percent market share in the electric bicycle and low-speed electric vehicle sectors in 2013, respectively, according to Ipsos' estimates.
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The electrical battery products market is expected to record a compound annual growth rate of 14 percent during the period spanning 2013-2020, driven by strong demand from environmentally-friendly electric vehicle manufacturing, in line with government actions to encourage consumption of alternative energy so as to reduce dependence on oil and the impact of heavy smog on daily life, stated Ipsos in its research report, 2013 Market & Industry Analysis on China E-bikes and E-bike Motive Batteries. The report forecasts that sales of electrical battery products will reach US$16.8 billion in 2020, more than double the US$6.6 billion posted in 2012. "Demand for electrical battery products in China is set to rise rapidly through 2020 thanks to a huge inventory of electric bicycles and an explosive growth in the electrical tricycles market," said Mr. Cui Xiaobo, head of Ipsos Business Consulting's Beijing Office.
The report reveals that electric bicycle ownership in China exceeded 120 million units as of the end of 2013, driven by increased buying power in rural areas. Ipsos predicts that electric bicycle ownership in the country is expected to reach 160 million units by 2020, on the basis of a compound annual growth rate of 4 percent between 2013 and 2020, while sales of motive batteries for electric bicycles are forecast to grow at a compound annual rate of 6 percent during the period to reach US$7.6 billion in both primary and secondary markets. According to analysis by Ipsos, as the vehicle of choice for senior citizens in rural areas, electrical tricycle sales have seen faster growth in recent years, with sales in 2013 rising 46 percent year-on-year to 20.9 million units, with the figure expected to increase to 102 million by 2020, in concert with the growth of the country's aging population. Sales of motive batteries for electric tricycles are forecast to achieve a compound annual growth rate of 27 percent between 2013 and 2020, eventually hitting US$7 billion and creating a huge market of similar size with that for electric bicycle batteries. Meanwhile, in line with China's call to develop energy-saving and environmental-friendly products, low-speed electric vehicles are answering the call. China's ownership of low-speed electric vehicles was 430,000 units in 2013. Ipsos expects the figure is to jump to 4.79 million units by 2020. In addition, competitively priced lead batteries that power low-speed electric vehicles will also enjoy a boom as one approaches the end of the decade.
Lead battery manufacturers have consolidated to around 200 from more than 1,900 previously, as most were forced to shut down after an environmental inspection blitz led by the Ministry of Environmental Protection in 2011. Although the domination of lead batteries in the electrical vehicle market will continue for the near term, technical upgrades will gradually promote the development of lithium batteries, with rapid growth for the lithium variety expected in the electric bicycle market and with market share projected to hit around 10 percent by 2020, according to Ipsos.
About Ipsos in China
Founded in Paris, France, in 1975 and publicly-listed in 1999, Ipsos is a global leading research company, which is the only independent research company that is controlled and managed by research professionals. Ipsos now has 16,000 employees, servicing 5,000+ clients, conducting 70+ million interviews per year, and executing 100,000+ annual projects across 85 countries. Ipsos now ranks 1st in the Chinese market research industry. Entering China in 2000, Ipsos in China now has offices in 5 cities including Shanghai, Beijing, Guangzhou, Chengdu, and Wuhan, and is home to around 1,500 professionals.
Ipsos embraces the Worldwide Specialist Business Lines (WSBL) structure and Centre of Excellence (COE) structure, which focus on advertising (Ipsos ASI), marketing (Ipsos Marketing), media (Ipsos MediaCT), opinion & social (Ipsos Public Affairs), customer & employee relationship management (Ipsos Loyalty) and data collection and delivery (Ipsos Observer), and Auto, and Finance & Service. Each WSBL and COE is a business unit (BU).
Our vision remains intact: To make research one of the primary means of understanding contemporary society, and to make Ipsos the strategic partner for those who wish to better understand the world. Our ambition is to enrich and to strengthen our offer in each of our areas of specialization, and to deliver the best possible service to our clients. Our company adheres to industrial regulations and professional rules, such as ESOMAR and ISO20252. Please visit www.ipsos.com.cn for more information.
About Ipsos Business Consulting
Ipsos Business Consulting (BC) is the strategic business unit of Ipsos, which assists clients globally to enter, evolve and expand in emerging and developed markets through fact based market analysis. BC has been assisting clients with their growth strategies since 1994 and has a strong track record with more than 2,000 consulting engagements covering markets globally. The areas of specialization include market opportunity assessment, competitive analysis, new product development, distribution channel and value chain analysis, market entry strategy, and partner diligence. The decision to enter, evolve and expand in a market is complex and unstructured. There are multiple stages involved in this decision process and it is imperative that every step is backed up by market facts. BC, with its vast experience in the growth strategy space, has developed its proven Path to Growth™ approach and offers its clients methodologies and expertise in all of these stages. Visit http://www.ipsos.com/marketing/ipsos-business-consulting for more.
SOURCE Ipsos in China