China Battery Manufacturing Equipment Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 24.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
China Battery Manufacturing Equipment Market Analysis
The China Battery Manufacturing Equipment Market is expected to register a CAGR of more than 24% during the forecast period.
- Over the long term, factors like the increasing adoption of renewable energy coupled with battery energy storage projects are expected to drive the market.
- On the other hand, rising competitive pressure and equipment costs are significant restraints hindering the market's growth.
- Nevertheless, the increasing technological advancements in various technologies like higher capacity and low discharge rate is expected to make the manufacturing of battery equipment more feasible and efficient and create enormous opportunities for the battery manufacturing equipment market.
China Battery Manufacturing Equipment Market Trends
This section covers the major market trends shaping the China Battery Manufacturing Equipment Market according to our research experts:
Automotive Segment to Dominate the Market
- Electric vehicles have recently gained popularity in China mainly due to the increasing price fluctuation of petrol and diesel in the country and the increasing pressure to reduce carbon emissions to the environment by various international groups. To tackle the situation, the citizen and government of China have started adopting electric vehicles. Electric vehicles are more efficient, which, combined with the electricity cost, is charging an electric vehicle cheaper than filling petrol or diesel for your travel requirements. Using renewable energy sources can make the use of electric vehicles more eco-friendly.
- Moreover, as the demand for electric vehicles is increasing, automobile manufacturing companies are designing electric vehicles for all car segments in various types and designs to increase the sales of their vehicles. This customization in the designing of automobiles provides a significant growth opportunity for battery manufacturing to meet the demands of automobile manufacturers.
- According to the China Association of Automobile Manufacturers(CAAM), in 2021, around 2.9 million battery electric vehicles were sold in China, an increase of 162 percent over 2020. In the same year, about 603,000 plug-in hybrid cars were sold in China, an increase of 140 percent over 2016.
- Furthermore, the government's supportive rules, regulations, and financial benefits for adapting electric vehicles in their regions have also benefitted the automobile industry.
- For instance, in June 2022, the Chinese government announced its goal of having 40 percent of the vehicles sold in the country be electric by 2030. By 2025, the government aims to charge infrastructure to meet the needs of more than 20 million cars. The electrification project is critical to China's plan to become carbon-neutral by 2060.
- Hence, the automotive sector is expected to be the fastest-growing segment in the forecast period due to increased demand for electric vehicles and supportive government policies.
Increasing Renewable Energy Projects Coupled with Battery Energy Storage Systems Expected to Drive the Market
- China is the largest energy consumer and renewable energy market globally, and the country has been rapidly expanding its renewable energy capacity to satiate its domestic energy demand. As the country has been suffering from air pollution caused primarily by fossil-fuel-fired power plant emissions, the country has focused on expanding its renewable energy capacity to meet its growing energy demands while reducing overall emissions.
- In 2021, the installed capacity of renewable energy was 1020.23 GW as compared to 541.01 GW in 2016, registering a growth rate of approximately 17.7% every year. This growth rate signifies the significant rise of renewable energy in the country. A similar trend is expected to be followed during to the forecasted period.
- In its latest updated Nationally Determined Contributions (NDC), as part of its commitments made under the Paris Agreement, China has committed to reach peak emissions by 2030 and achieve carbon neutrality by 2030. In terms of energy targets, the country aims to cut C02 emissions per unit of GDP by more than 65% from 2005 levels and increase the total installed wind+solar capacity to 1,200 GW.
- According to CarbonBrief, based on the rapid growth of the renewable energy industry in the country, it is estimated that China will reach its target of 1200 GW of wind+solar deployment significantly ahead of its 2030 deadline. Such rapid growth in the installed renewable energy capacity is due to the rising demand created as a result of environmental commitments, and the rising domestic energy consumption is expected to drive the renewable energy market during the forecast period.
- Battery energy storage is considered a critical technology in transitioning to a sustainable energy system. The battery energy storage systems regulate voltage and frequency, reduce peak demand charges, integrate renewable sources, and provide a backup power supply. Batteries are crucial in energy storage systems and are responsible for around 60% of the system's total cost.
- Therefore, owing to the above points, the increasing penetration of renewable energy coupled with battery energy storage systems is expected to drive China's battery manufacturing equipment market.
China Battery Manufacturing Equipment Industry Overview
The China Battery Manufacturing Equipment Market is moderately fragmented. Some of the key players in this market (in no particular order) include Xiamen Lith Machine Limited, Wuxi Lead Intelligent Equipment Co Ltd, Schuler AG, Hitachi Ltd, and Xiamen Tmax Battery Equipments Limited.
China Battery Manufacturing Equipment Market Leaders
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Xiamen Lith Machine Limited
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Wuxi Lead Intelligent Equipment Co Ltd
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Schuler AG
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Hitachi Ltd
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Xiamen Tmax Battery Equipments Limited
*Disclaimer: Major Players sorted in no particular order
China Battery Manufacturing Equipment Market News
- In December 2022, the Chinese car company GAC announced that they had started building a production facility for electric car batteries in Guangzhou. With a total investment of USD 1.561 billion, the new factory is scheduled to operate in March 2024 with an annual production capacity of 6 GWh.
- In November 2022, BYD announced they are further expanding their battery production capacities in China with a new plant in Wenzhou in Zhejiang province. The new factory will have an annual capacity of 20 gigawatt-hours and is scheduled to start production in 2024.
China Battery Manufacturing Equipment Market Report - Table of Contents
1. INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2. EXECUTIVE SUMMARY
3. RESEARCH METHODOLOGY
4. MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD billion, till 2028
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 PESTLE Analysis
5. MARKET SEGMENTATION
5.1 Machine Type
5.1.1 Coating & Dryer
5.1.2 Calendaring
5.1.3 Slitting
5.1.4 Mixing
5.1.5 Electrode Stacking
5.1.6 Assembly & Handling Machines
5.1.7 Formation & Testing Machines
5.2 End User
5.2.1 Automotive
5.2.2 Industrial
5.2.3 Other End Users
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Durr AG
6.3.2 Schuler AG
6.3.3 Xiamen Tmax Battery Equipments Limited
6.3.4 Xiamen Lith Machine Limited
6.3.5 Wuxi Lead Intelligent Equipment Co Ltd
6.3.6 Hitachi Ltd.
6.3.7 Xiamen ACEY New Energy Technology
6.3.8 Andritz AG
6.3.9 Xiamen TOB New Energy Technology Co., Ltd
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
China Battery Manufacturing Equipment Industry Segmentation
Battery manufacturing equipment covers machines and equipment used in the production of raw materials, as well as the processing and assembly of batteries. Dosing machines, mixing and coating machines, and so on are necessary for raw material processing, whereas assembling process equipment comprises electrode stacking and cutting machines, heat sealing, and liquid injection machines.
The China battery manufacturing equipment market is segmented by machine type and end-user. By machine type, the market is segmented into coating & dryer, calendaring, slitting, mixing, electrode stacking, assembly & handling machine, and formation & testing machine. By end-user, the market is segmented into automotive, industrial, and other end users. For each segment, the market sizing and forecasts have been done based on revenue (USD billion).
| Machine Type | |
| Coating & Dryer | |
| Calendaring | |
| Slitting | |
| Mixing | |
| Electrode Stacking | |
| Assembly & Handling Machines | |
| Formation & Testing Machines |
| End User | |
| Automotive | |
| Industrial | |
| Other End Users |
China Battery Manufacturing Equipment Market Research FAQs
What is the current China Battery Manufacturing Equipment Market size?
The China Battery Manufacturing Equipment Market is projected to register a CAGR of greater than 24% during the forecast period (2024-2029)
Who are the key players in China Battery Manufacturing Equipment Market?
Xiamen Lith Machine Limited, Wuxi Lead Intelligent Equipment Co Ltd, Schuler AG, Hitachi Ltd and Xiamen Tmax Battery Equipments Limited are the major companies operating in the China Battery Manufacturing Equipment Market.
What years does this China Battery Manufacturing Equipment Market cover?
The report covers the China Battery Manufacturing Equipment Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the China Battery Manufacturing Equipment Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
China Battery Manufacturing Equipment Industry Report
Statistics for the 2024 China Battery Manufacturing Equipment market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. China Battery Manufacturing Equipment analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
