The China electric vehicle battery market is predicted to advance with a CAGR of 17.83% over the forecast period. The country’s market growth is attributable to the rising support extended by the government, the developing electric vehicle charging system industry, and increased incentives associated with the purchase of new electric vehicles (NEVs). While the base year considered for the market study is 2020, the forecasting years are from 2021 to 2026.
CHINA ELECTRIC VEHICLE BATTERY MARKET FORECAST 2021-2026
China Electric Vehicle Battery Market by Vehicle Type (Battery Electric Vehicle, Hybrid Electric Vehicle, Plug-in Hybrid Electric Vehicle) Market by Battery Type (Lead Acid, Nickel Metal Hydride, Lithium-ion) Market by End-user (Commercial Vehicle, Passenger Car, Other)
The China electric vehicle battery market is predicted to advance with a CAGR of 17.83% over the forecast period. The country’s market growth is attributable to the rising support extended by the government, the developing electric vehicle charging system industry, and increased incentives associated with the purchase of new electric vehicles (NEVs). While the base year considered for the market study is 2020, the forecasting years are from 2021 to 2026.
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The sale of battery-powered electric vehicles escalated in the first quarter of 2021, primarily dominated by Chinese automakers. Moreover, approximately 750,000 vehicle units were sold, registering a growth of 153% compared to the same period in the previous year. While Tesla retained its foremost position with a share of approximately 24.6%, Chinese automotive manufacturers collectively acquired a significant share of over 25% across the electric vehicle market.
China is the clear leader within the electric vehicle battery market and dominates the electric vehicle battery supply chain, as well. For instance, as per the 2020 USGS, the country is among the top five in terms of possessing the majority of lithium resources. However, it has continued purchasing stakes in the mining operations across South America and Australia, where most lithium resources are found, globally. Therefore, these factors are set to supplement the market growth in China during the estimated period.
Contemporary Amperex Technology Co Limited (CATL), headquartered in China, is a leader in the manufacturing and development of lithium-ion batteries, with business covering the research and development, sales, and manufacturing of battery systems for energy storage systems and new energy vehicles. The company’s business segments include commercial applications, passenger vehicles, Energy storage systems, and battery recycling.
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- RESEARCH SCOPE & METHODOLOGY
- STUDY OBJECTIVES
- SCOPE OF STUDY
- METHODOLOGY
- ASSUMPTIONS & LIMITATIONS
- EXECUTIVE SUMMARY
- MARKET SIZE & ESTIMATES
- COUNTRY SNAPSHOT
- COUNTRY ANALYSIS
- KEY GROWTH ENABLERS
- KEY CHALLENGES
- KEY ANALYTICS
- IMPACT OF COVID-19 ON CHINA ELECTRIC VEHICLE BATTERY MARKET
- KEY MARKET TRENDS
- PORTER’S FIVE FORCES ANALYSIS
- BUYERS POWER
- SUPPLIERS POWER
- SUBSTITUTION
- NEW ENTRANTS
- INDUSTRY RIVALRY
- OPPORTUNITY MATRIX
- VALUE CHAIN ANALYSIS
- RAW MATERIAL MINING
- BATTERY CELL
- BATTERY MODULE
- BATTERY PACK
- END-USER
- END OF LIFE PROCESSES
- TECHNOLOGY ANALYSIS
- LI-ION BATTERY BASED ON VARIATION IN CATHODE MATERIAL
- NCM (LITHIUM-COBALT-MANGANESE-OXIDE)
- NCA (LITHIUM NICKEL COBALT ALUMINUM OXIDE)
- LFP (LITHIUM IRON PHOSPHATE)
- SOLID STATE BATTERIES
- LI-ION BATTERY BASED ON VARIATION IN CATHODE MATERIAL
- RAW MATERIAL ANALYSIS
- KEY RAW MATERIALS
- COUNTRIES HAVING HIGH DEPOSITS OF KEY RAW MATERIALS
- LITHIUM
- MANGANESE
- NICKEL
- COBALT
- GRAPHITE
- MARKET BY VEHICLE TYPE
- BATTERY ELECTRIC VEHICLE
- HYBRID ELECTRIC VEHICLE
- PLUG-IN HYBRID ELECTRIC VEHICLE
- MARKET BY BATTERY TYPE
- LEAD ACID
- NICKEL METAL HYDRIDE
- LITHIUM-ION
- MARKET BY END-USER
- COMMERCIAL VEHICLE
- PASSENGER CAR
- OTHER
- COMPETITIVE LANDSCAPE
- KEY STRATEGIC DEVELOPMENTS
- MERGERS & ACQUISITIONS
- PRODUCT LAUNCHES & DEVELOPMENTS
- PARTNERSHIPS & AGREEMENTS (COLLABORATIONS, JOINT VENTURES)
- BUSINESS EXPANSIONS
- COMPANY PROFILES
- BYD
- CATL
- CALB
- LG ENSOL
- SAMSUNG SDI
- KEY STRATEGIC DEVELOPMENTS
LIST OF TABLES
TABLE 1: MARKET SNAPSHOT – CHINA ELECTRIC VEHICLE BATTERY
TABLE 2: CHINA ELECTRIC VEHICLE BATTERY MARKET, BY VEHICLE TYPE, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)
TABLE 3: CHINA ELECTRIC VEHICLE BATTERY MARKET, BY VEHICLE TYPE, FORECAST YEARS, 2021-2026 (IN $ MILLION)
TABLE 4: CHINA ELECTRIC VEHICLE BATTERY MARKET, BY BATTERY TYPE, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)
TABLE 5: CHINA ELECTRIC VEHICLE BATTERY MARKET, BY BATTERY TYPE, FORECAST YEARS, 2021-2026 (IN $ MILLION)
TABLE 6: CHINA ELECTRIC VEHICLE BATTERY MARKET, BY END-USER, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)
TABLE 7: CHINA ELECTRIC VEHICLE BATTERY MARKET, BY END-USER, FORECAST YEARS, 2021-2026 (IN $ MILLION)
TABLE 8: LIST OF MERGERS & ACQUISITIONS
TABLE 9: PRODUCT LAUNCHES & DEVELOPMENTS
TABLE 10: PARTNERSHIPS & AGREEMENTS (COLLABORATIONS, JOINT VENTURES)
TABLE 11: LIST OF BUSINESS EXPANSIONS
LIST OF FIGURES
FIGURE 1: KEY MARKET TRENDS
FIGURE 2: PORTER’S FIVE FORCES ANALYSIS
FIGURE 3: OPPORTUNITY MATRIX
FIGURE 4: VALUE CHAIN ANALYSIS
FIGURE 5: CHINA ELECTRIC VEHICLE BATTERY MARKET, GROWTH POTENTIAL, BY ELECTRIC VEHICLE BATTERY, IN 2020
FIGURE 6: CHINA ELECTRIC VEHICLE BATTERY MARKET, BY BATTERY ELECTRIC VEHICLE, 2021-2026 (IN $ MILLION)
FIGURE 7: CHINA ELECTRIC VEHICLE BATTERY MARKET, BY HYBRID ELECTRIC VEHICLE, 2021-2026 (IN $ MILLION)
FIGURE 8: CHINA ELECTRIC VEHICLE BATTERY MARKET, BY PLUG-IN HYBRID ELECTRIC VEHICLE, 2021-2026 (IN $ MILLION)
FIGURE 9: CHINA ELECTRIC VEHICLE BATTERY MARKET, GROWTH POTENTIAL, BY BATTERY TYPE, IN 2020
FIGURE 10: CHINA ELECTRIC VEHICLE BATTERY MARKET, BY LEAD ACID, 2021-2026 (IN $ MILLION)
FIGURE 11: CHINA ELECTRIC VEHICLE BATTERY MARKET, BY NICKEL METAL HYDRIDE, 2021-2026 (IN $ MILLION)
FIGURE 12: CHINA ELECTRIC VEHICLE BATTERY MARKET, BY LITHIUM-ION, 2021-2026 (IN $ MILLION)
FIGURE 13: CHINA ELECTRIC VEHICLE BATTERY MARKET, GROWTH POTENTIAL, BY END-USER, IN 2020
FIGURE 14: CHINA ELECTRIC VEHICLE BATTERY MARKET, BY COMMERCIAL VEHICLE, 2021-2026 (IN $ MILLION)
FIGURE 15: CHINA ELECTRIC VEHICLE BATTERY MARKET, BY PASSENGER CAR, 2021-2026 (IN $ MILLION)
FIGURE 16: CHINA ELECTRIC VEHICLE BATTERY MARKET, BY OTHER, 2021-2026 (IN $ MILLION)
- MARKET BY VEHICLE TYPE
- BATTERY ELECTRIC VEHICLE
- HYBRID ELECTRIC VEHICLE
- PLUG-IN HYBRID ELECTRIC VEHICLE
- MARKET BY BATTERY TYPE
- LEAD ACID
- NICKEL METAL HYDRIDE
- LITHIUM-ION
- MARKET BY END-USER
- COMMERCIAL VEHICLE
- PASSENGER CAR
- OTHER
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