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China Scrap Vehicle Recycling Market Report 2021-2025: Due to COVID-19 - Chinese Government has Issued a Series of Measures to Encourage Scrapping Old Cars & Encourage New Car Sales

Research and Markets
·5-min read

Dublin, Feb. 09, 2021 (GLOBE NEWSWIRE) -- The "Research Report on China's Scrap Vehicle Recycling Industry, 2021-2025" report has been added to ResearchAndMarkets.com's offering.

The Chinese government provides that a vehicle should be sent to a qualified enterprise for dismantling and scrapping when it runs for 600,000 kilometers.

And scrap vehicles' engines, steering gear, transmission, front and rear axles and frame are forbidden to be sold illegally and should be recycled as scrap metal. The vehicle owner can get the residual value of the recycled scrap metal. However, this provision is poorly enforced.

According to the analysis, vehicle consumption becomes increasingly popular in China with the development of the economy and increase in income. China had ranked first in vehicle production and sales volume for twelve consecutive years from 2009 to 2020. And the vehicle reserves keep rising. China's vehicle reserves reached 254 million at the end of 2019, ranking second in the world. It is estimated that China will surpass the U.S. to have the largest vehicle reserves in the world in 10 years.

As the average vehicle age increases, scrap vehicle recycling has become one of the social concerns. On the assumption that the service life of passenger vehicles is between 8 to 10 years, the number of scrap vehicles had exceeded 7 million by 2020 and will grow at an annual rate of over 10%. However, only 1.95 million scrap vehicles were recycled in 2019.

Many scrap vehicles are still being used or were illegally disposed of. For example, some of them were reassembled or refurbished to be sold as second-hand vehicles.

Owing to the poor industry regulation, legal scrap vehicle disposal has been affected by the illegal one. China's annual recycling volume accounts for less than 1% of the vehicle reserves, which is much lower than 5%-7% in developed countries. Because of the quota on the number of scrap vehicle recyclers, the numbers of registered scrap vehicle recyclers and recycling outlets were 800 and 3000 respectively at the end of 2020, having a wide gap with the fast-growing number of scrap vehicles.

According to the analysis, in 2020, the outbreak of the COVID-19 epidemic, it will have a certain impact on China's automobile manufacturing industry. In order to promote car sales, the Chinese government has issued a series of measures to encourage scrapping old cars and buying new cars. Therefore, the outbreak of the epidemic has promoted the development of China's auto scrap industry to a certain extent.

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Topics Covered:

  • The impact of COVID-19 on China's scrap vehicle recycling market

  • Policy Environment of China Scrap vehicle recycling Industry

  • Competition Status of Scrap vehicle recycling Market

  • Supply and Demand Status of Scrap vehicle recycling in China

  • Recycling Volume by Vehicle Type in China

  • Government Procurement Status of Scrap vehicle recycling

  • Major Enterprises in China Scrap vehicle recycling Market

  • Driving Forces and Market Opportunities in China Scrap vehicle recycling Market, 2021-2025

  • Threats and Challenges in China Scrap vehicle recycling Market, 2021-2025

  • Prospect of China Scrap vehicle recycling Market, 2021-2025

Key Topics Covered:

1 Overview of China's Vehicle Recycling Industry
1.1 Basic Definitions
1.2 Classification
1.3 Methodology
1.3.1 Parameters and Assumptions
1.3.2 Data Sources
1.4 The impact of COVID-19 on China's Vehicle Recycling Industry

2 Analysis on China's Vehicle Recycling Industry 2017-2020
2.1 Development Environment of China's Vehicle Recycling Industry
2.1.1 Economic Environment
2.1.2 Policy Environment
2.1.3 Social Environment
2.2 Analysis on Supply of Vehicle Recycling in China
2.3 Analysis on Demand for Vehicle Recycling in China
2.3.1 Total Recycling Volume
2.3.2 Market Size of Vehicle Recycling and Dismantling
2.4 Recycling Volume by Vehicle Type
2.4.1 Passenger vehicles
2.4.2 Trucks
2.4.3 Trailers
2.4.4 Special vehicles
2.4.5 Others

3 Analysis on Competition in China's Vehicle Recycling Industry
3.1 Barriers to Entry in China's Vehicle Recycling Industry
3.1.1 Policy Barriers
3.1.2 Regional Barriers
3.2 Competition Structure of China's Vehicle Recycling Industry
3.2.1 Bargaining Power of Suppliers
3.2.2 Bargaining Power of Downstream Enterprises
3.2.3 Internal Competition of Vehicle Recycling Industry
3.2.4 Potential Entrants to Vehicle Recycling Industry
3.2.5 Substitutes for Vehicle Recycling Industry

4 Analysis on Major Vehicle Recyclers in China, 2019-2021
4.1 Tianjin Xinneng Renewable Resources Co., Ltd.
4.1.1 Enterprise Profile
4.1.2 Analysis of Vehicle Recycling Business
4.2 Shanghai Motor Vehicle Recycle Service Center
4.2.1 Enterprise Profile
4.2.2 Analysis of Vehicle Recycling Business
4.3 Tianjin Guolian Scrap Motor Vehicle Recycling and Dismantling Co., Ltd.
4.4 Beijing Dashihe Scrap Vehicle Recycling Factory
4.5 Shenzhen Scrap Vehicle Recycling Co., Ltd.

5 Analysis on Vehicle Recycling Costs and Prices in China 2019-2021
5.1 Analysis on Costs of Vehicle Recyclers
5.1.1 Analysis of Dismantling Cost
5.1.2 Operating Cost
5.2 Analysis of Vehicle Recycling Prices

6 Forecast on Development of China's Vehicle Recycling Industry, 2021-2025
6.1 Factors Influencing Development of China's Vehicle Recycling Industry
6.1.1 Major Driving Forces and Market Opportunities for China's Vehicle Recycling Industry
6.1.2 Threats and Challenges to China's Vehicle Recycling Industry
6.2 Forecast on Supply of Vehicle Recycling in China
6.3 Forecast on Demand for Vehicle Recycling in China

Companies Mentioned

  • Beijing Dashihe Scrap Vehicle Recycling Factory

  • Shanghai Motor Vehicle Recycle Service Center

  • Shenzhen Scrap Vehicle Recycling Co., Ltd.

  • Tianjin Guolian Scrap Motor Vehicle Recycling and Dismantling Co., Ltd.

  • Tianjin Xinneng Renewable Resources Co., Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/88dgc8

CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900