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BEIJING, Aug. 2, 2013 /PRNewswire/ -- Tianneng Power International Limited (“Tianneng”, 00819.HK) has been awarded the 2013 China Leading Brand award for its E-bike Motive Battery by Ipsos, a leading global research house. 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.
The electrical battery products market is expected to record a compound annual growth rate of 12 percent in 2013-2020, driven by strong demand from environmentally-friendly electric vehicle manufacturing, as the government is encouraging consumption of alternative energy to reduce dependence on oil, stated Ipsos in its research report, Market & Industry Analysis on China E-bike and E-bike Motive Battery. It is also forecast in the report that total sales of electrical battery products will reach US$11.2 billion in 2020, more than double from around US$5.2 billion in 2012. “Demand for electrical battery products is set to rise rapidly through 2020 in China thanks to a huge inventory of electrical bicycles and a growing market of electrical tricycles in the rural areas,” echoed Mr. Cui Xiaobo, head of Ipsos Business Consulting’s Beijing Office.
With further unleashed consumption capability in rural areas, Ipsos predicts that demand for e-bikes will hit 31.57 million by 2020, with a compound annual growth rate of 4 percent during the period of 2013-2020, while sales of motive batteries for e-bikes are forecast to realize a compound annual growth rate of 6 percent during the period to reach US$6.7 billion in both primary and secondary markets, according to the report. Favored by elderly people in the rural market, electrical tricycle producers have seen rapid growth in recent years, with sales in 2012 up over 60 percent year-on-year at nearly 6 million units, which is expected to rise further to 26.43 million by 2020, riding waves of the country’s growing aging population. Sales of motive batteries for e-motorcycles are forecast to achieve a compound annual growth rate of 28 percent in 2013-2020, eventually hitting US$4.5 billion, the report showed. Meanwhile, accompanying the government’s call to develop energy-saving and environmental-friendly products, the low-speed, four-wheeled e-motorcycle will embrace a huge market in China with a demand of 820 thousand units by 2020, as predicted by Ipsos. In addition, with its inexpensive engine, the lead-acid battery will also enjoy a boom in the future.
Lead-acid battery manufacturers had been cut to around 200 from more than 1,900 previously, as most of them were forced to shut down after an environmental examination storm led by the Ministry of Environmental Protection in 2011. Although the domination of lead-acid batteries in the electrical vehicles market will continue into the near future, technical upgrades will gradually promote the development of lithium batteries, which is expected to drive accelerating growth in the e-bike market, with market share to hit around 10 percent by 2020, Ipsos forecasts.
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.
Contact:
Mr. Cui Xiaobo
Head of Ipsos Business Consulting Beijing Office
010-52198899-3224
xiaobo.cui@ipsos.com
Ms. Peng Lu
Head of Marketing Department, Ipsos in China
010-52198899-3321
lu.peng@ipsos.com
