IMARC Group, a leading market research company, has recently releases report titled “China Electric Vehicle Battery Market Report by Battery Type (Lead Acid Battery, Lithium-Ion Battery, and Others), Vehicle Type (Battery Electric Vehicles (BEV), Plug-in Hybrid Electric Vehicles (PHEV), Hybrid Electric Vehicles (HEV)), Battery Capacity (30 kWh, 30-60 kWh, 60 kWh) 2024-2032.” offers a comprehensive analysis of the industry, which comprises insights on the China electric vehicle battery market share. The market size is projected to exhibit a growth rate (CAGR) of 22.4% during 2024-2032.
An electric vehicle (EV) battery is a rechargeable battery used to power EVs, including cars, buses, trucks, and bicycles. It is composed of lithium-ion cells due to their high energy density, efficiency, and lightweight. It produces zero tailpipe emissions, leading to significant reductions in greenhouse gas emissions and air pollution. It can serve as an energy storage device, allowing for vehicle-to-grid (V2G) integration. It can be deployed in microgrid systems to provide reliable and resilient power to remote communities, islands, and off-grid locations. It is used to store excess energy from renewable sources for use during periods of high demand or when renewable energy generation is low. It is also utilized as a portable power source for various applications, including camping, outdoor events, and emergencies.
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China Electric Vehicle Battery Market Trends and Drivers:
At present, the growing investments in charging infrastructure, along with the rising adoption of EVs among the masses, represents one of the key factors offering a favorable market outlook in China. Moreover, key players are investing in research and development (RD) activities to improve the performance, energy density, and safety of EV batteries, which is strengthening the growth of the market. In line with this, ongoing technological advancements, such as the development of solid-state batteries and lithium-sulfur batteries (LSBs), are driving innovations in the EV battery, which is facilitating the market growth. Additionally, governing agencies in China are undertaking initiatives to reduce air pollution, decrease dependence on imported oil, and foster the development of the domestic automotive industry, thereby supporting the growth of the market. Besides this, the wide availability of EVs through online and offline distribution channels is offering lucrative growth opportunities to industry investors. Furthermore, the increasing adoption of EV batteries in commercial and industrial settings to power electric forklifts, warehouse equipment, and machinery is impelling the growth of the market in the country.
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Battery Type:
- Lead Acid Battery
- Lithium-Ion Battery
- Others
Breakup by Vehicle Type:
- Battery Electric Vehicles (BEV)
- Plug-in Hybrid Electric Vehicles (PHEV)
- Hybrid Electric Vehicles (HEV)
Breakup by Battery Capacity:
- 30 kWh
- 30-60 kWh
- 60 kWh
Competitive Landscape with Key Player:
- BMZ Group
- BYD Company Limited
- Contemporary Amperex Technology Co. Limited (CATL)
- GS Yuasa International Limited
- Lishen Battery
- Microvast
- OptimumNano Energy Co. Limited
- Panasonic Corporation
- Samsung SDI Co. Limited
- Showa Denko Materials Co. Limited
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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