IMARC Group's 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". The China electric vehicle battery market size is projected to exhibit a growth rate (CAGR) of 22.4% during 2024-2032.
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The strong push towards electrification and sustainability are the factors responsible for the growth of the China electric vehicle battery market. Additionally, the market is propelling owing to the policies and incentives made by government authorities, such as subsidies for EV purchases, tax breaks, and investments in charging infrastructure. Besides this, commitment to reducing carbon emissions and addressing environmental concerns has led to stringent regulations that favor electric vehicles over traditional internal combustion engine vehicles. This policy support, combined with the expanding urban population and increasing consumer awareness of environmental issues, is driving the demand for EVs and, consequently, EV batteries.
Technological advancements and economies of scale are also major drivers in the market. In addition to this, companies in China are at the forefront of battery technology innovation, focusing on improving energy density, reducing costs, and enhancing battery life, thereby escalating the market. Companies like Contemporary Amperex Technology Co. Limited and Build Your Dreams are leading the charge, investing heavily in research and development to produce more efficient and affordable batteries, which is acting as another growth-inducing factor. Furthermore, the integration of advanced technologies, such as fast-charging capabilities and solid-state batteries, is making EVs more appealing to consumers. The growing investment in battery recycling and second-life applications for used batteries is also helping to create a more sustainable and cost-effective supply chain, which is anticipated to drive China electric vehicle battery market over the forecasted period.
Leading Companies Operating in the China Electric Vehicle Battery Industry:
- 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
China Electric Vehicle Battery Market Report Segmentation:
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
Breakup by Region:
- Guangdong
- Jiangsu
- Shandong
- Zhejiang
- Henan
- Others
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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