China Electric Vehicle Battery Market Report 2023-28, Trends, Share, Size, Demand and Future Scope

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)), and Battery Capacity (60 kWh), 2023-2028." The study provides a detailed analysis of the industry, including the China electric vehicle battery market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How big is the China electric vehicle battery market?

The China electric vehicle battery market is expected to exhibit a growth rate (CAGR) of 25.1% during 2023-2028.

What is an electric vehicle battery?

An electric vehicle (EV) battery is a critical component in electric vehicles, designed to store and supply the electrical energy needed to power the vehicle's motor. Unlike conventional gasoline-powered vehicles that rely on internal combustion engines, electric vehicles derive their propulsion from electric motors that draw energy from these batteries. The most common type of EV battery is the lithium-ion battery, prized for its high energy density, lightweight properties, and longevity. These batteries consist of multiple cells containing lithium compounds, which, through chemical reactions, produce electricity. The capacity of an EV battery is typically measured in kilowatt-hours (kWh), indicating the amount of energy it can store. A battery's capacity is directly related to the vehicle's range - the distance it can travel on a single charge. In recent years, electric vehicle battery has seen significant advancements, leading to longer driving ranges and reduced charging times, promoting sustainable transportation.

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What are the growth prospects and trends in the China electric vehicle battery industry?

The China electric vehicle battery market is primarily driven by the country's aggressive push toward green transportation, fueled by its comprehensive policies, subsidies, and incentives for EV manufacturers and consumers. Moreover, China's ambition to reduce carbon emissions and combat air pollution that puts EVs at the forefront of its transportation revolution is positively influencing market growth. Apart from this, the country's vast reserves of critical raw materials, such as lithium, enable it to dominate the battery supply chain, ensuring a consistent supply for production is propelling the market growth. Additionally, rapid urbanization and heightening consumer awareness about environmental issues have augmented the demand for electric vehicles. Along with this, rising investments in research and development (R&D) by Chinese EV battery manufacturers and strong governmental support, leading to innovations in battery efficiency, lifespan, and charging times, has catalyzed market growth. Furthermore, the expansive infrastructure development, particularly in charging stations and facilities, that eases consumer apprehensions about range and charging availability is contributing to market growth.

What is included in market 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:

60 kWh

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Who are the key players operating in the industry?

The report covers the major market players including:

BMZ Group
BYD Company Limited
Contemporary Amprex 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 require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

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