China Battery Market

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China Battery Market by Type (Lead Acid, Lithium Ion, Nickel Metal Hydride, Nickel Cadmium, and Others), by Application (Residential, Industrial, and Commercial), and by Power Systems (Fuel Cell Batteries, Proton-Exchange Membrane Fuel Cells, Alkaline Fuel Cells, Phosphoric Acid Fuel Cells, Solid Oxide Fuel Cells, Molten Carbonate Fuel Cells, Air Cells, Flywheel Energy Storage, Nuclear Batteries) – Opportunity Analysis and Industry Forecast 2023-2030

Industry: Energy & Power | Publish Date: 17-Aug-2023 | No of Pages: 79 | No. of Tables: 55 | No. of Figures: 27 | Format: PDF | Report Code : N/A

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Market Overview

China Battery Market was valued at USD 25.21 billion in 2022, and is predicted to reach USD 71.21 billion by 2030, with a CAGR of 13.8% from 2023 to 2030. A battery operates as a mechanism that stores energy and later releases it by transforming chemical energy into electrical energy. Typically, batteries produce electricity by harnessing one or more electrochemical cells.

Batteries can be categorized into two distinct types: primary batteries and secondary batteries. Primary batteries, also known as non-rechargeable batteries, offer a straightforward and convenient energy supply for various portable electronic and electrical devices, including cameras, watches, toys, lights, radios, and more. In contrast, secondary batteries, often referred to as rechargeable batteries, possess the capability to be recharged electrically once they've been depleted. These energy storage solutions have evolved into indispensable sources of power in our daily routines. 

The progress of cutting-edge technologies, encompassing smartphones, tablets, laptops, solar energy systems, and electric vehicles (EVs), has ushered in the era of robust batteries capable of prolonged endurance and providing essential energy requirements.

Surging Demand for Consumer Electronics Drives Growth of China's Battery Market

China is one of the leading manufacturers of Consumer electronics, such as smartphones and laptops, in the world. This can be attributed to factors such as presence of major manufactures like Xiaomi, Oppo, and Vivo. For instance, in May 2022, Xiaomi announced that the company is developing a smart factory in Beijing’s suburban Changping district, which will begin production by late 2023. The automated factory covers 58,300 square meters, and is expected to have an annual output of 10 million smartphones with an estimated production value of USD 8.8 billion. Manufacturing such high number of smartphones will increase the demand for lithium-ion batteries in the country, which, in turn, is expected to drive the battery market.

 

China's Remarkable Adoption of Electric Vehicles Driving Growth of the Battery Market

China is one of the leading countries with high adoption of EVs owing to factors such as presence of leading EV manufacturers, such as BYD, Wuling, Tesla, Chery, GAC Group, and several initiatives undertaken by the government to promote the use of EVs. For instance, in September 2022, the government in China announced the extension of tax exemption on purchase of new EVs till the end of 2023. Moreover, in June 2022, China’s capital city Beijing started offering subsidies of USD 1,196 on purchase of new-energy vehicles to replace old combustion engine cars. Such factors are driving the growth of battery market in China.

 

Safety Issues Related to Battery Usage in China

The improper management of batteries poses significant risks to both human well-being and the environment. A prevailing issue involves the incorrect disposal of used or depleted batteries, leading to their accumulation in landfills. Over time, these batteries degrade, releasing harmful substances that permeate the soil. This pollution detrimentally affects both surface water and groundwater, resulting in an ecological imbalance that jeopardizes aquatic flora and fauna. Elements like mercury, cadmium, lithium, and lead, present in these batteries, contribute to this disruption. Consequently, these concerns are anticipated to impede the progression of the battery market.

Introduction of Nano-Diamond Batteries (NDB) in Multiple Industries

The growing adoption of Nuclear Diamond Batteries (NDBs) across various sectors including automotive, aerospace, and electronics is positioned to create fresh avenues in China's battery market. NDBs represent a groundbreaking leap in energy generation and storage, fundamentally reshaping conventional battery concepts. These batteries showcase remarkable endurance by harnessing the energy derived from the radioactive decay of nuclear waste. The trajectory of China's battery market is being shaped by the compelling attributes of NDBs, which encompass their compact form, adaptability, cost-efficiency, and scalability across a wide array of applications, ranging from compact chipsets to expansive industrial setups. Functioning as advanced diamond-based alpha, beta, and neutron voltaic batteries, NDBs offer a consistent source of clean energy for a diverse spectrum of applications, surpassing the performance of traditional chemical batteries.

 

Competitive Landscape

The China battery industry includes several market players such as LG Chem Ltd., CATL, Samsung SDI Co. Ltd., BYD, SKI, ENVISION AESC GROUP LTD., Gotion High tech Co Ltd, Primearth EV Energy Co., Ltd., China Aviation Lithium Battery Co., Ltd., Panasonic Corporation.

Key Benefits

  • The China battery market report provides a quantitative analysis of the current market and estimations through 2023-2030 that assists in identifying the prevailing market opportunities to capitalize on.

  • The study comprises a deep dive analysis of the market trend including the current and future trends for depicting the prevalent investment pockets in the market.

  • The information related to key drivers, restraints, and opportunities and their impact on the market is provided in the report.

  • The competitive analysis of the market players along with their market share in the China battery market.

  • The SWOT analysis and Porter’s Five Forces model are elaborated in the study.

  • Value chain analysis in the market study provides a clear picture of the stakeholders’ roles.

China Battery Market Key Segments

By Type

  • Lead Acid

    • Stationary

    • Motive

  • Lithium Ion

    • Lithium Nickel Manganese Cobalt (LI-NMC)

    • Lithium Iron Phosphate (LFP)

    • Lithium Cobalt Oxide (LCO)

    • Lithium Titanate Oxide (LTO)

    • Lithium Manganese Oxide (LMO)

    • Lithium Nickel Cobalt Aluminum Oxide (NCA)

  • Nickel Metal Hydride

  • Nickel Cadmium

  • Others

By Application

  • Residential

  • Industrial

    • Manufacturing & Construction

    • Automotive

    • Medical

    • Telecom & IT

    • Consumer Electronics

    • Power & Utility

    • Aerospace

    • Marine

    • Others

  • Commercial

By Power Systems

  • Fuel Cell batteries

  • Proton-Exchange Membrane Fuel Cells

  • Alkaline Fuel Cells

  • Phosphoric Acid Fuel Cells

  • Solid Oxide Fuel Cells

  • Molten Carbonate Fuel Cells

  • Air Cells

  • Flywheel Energy Storage

  • Nuclear Batteries

REPORT SCOPE AND SEGMENTATION:

Parameters

Details

Market Size in 2022

USD 25.21 billion

Revenue Forecast in 2030

USD 71.21 billion

Growth Rate

CAGR of 13.8% from 2023 to 2030

Analysis Period

2022–2030

Base Year Considered

2022

Forecast Period

2023–2030

Market Size Estimation

Billion (USD)

Growth Factors

The growing government incentives 

The adoption of hybrid vehicles

Companies Profiled

10

Market Share

Available for 10 companies

Customization Scope

Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope.

Pricing and Purchase Options

Avail customized purchase options to meet your exact research needs.

Key  Players

  • LG Chem Ltd.

  • CATL

  • Samsung SDI Co. Ltd.

  • BYD

  • SKI

  • ENVISION AESC GROUP LTD.

  • Gotion High tech Co Ltd

  • Primearth EV Energy Co., Ltd.

  • China Aviation Lithium Battery Co., Ltd.

  • Panasonic Corporation

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Frequently Asked Questions

According to the report published by the Next Move Consulting, the China battery market business is expected to hit at $71.21 billion (USD) by 2030.

The China battery industry includes several market players such as LG Chem Ltd., CATL, Samsung SDI Co. Ltd., BYD, SKI, ENVISION AESC GROUP LTD., Gotion High tech Co Ltd, Primearth EV Energy Co., Ltd., China Aviation Lithium Battery Co., Ltd., Panasonic Corporation.

The China battery market share is segmented on the basis of basis of type, application, and power systems.

The factors contributing to the expansion of the China battery market are rising renewable energy integration, government policies and incentives, supply chain developments, and advancements in battery technology.

The factors restraining the growth of the China battery market are safety issues and environmental impacts.

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