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China EV Battery Pack Market Size

The China EV Battery Pack Market is poised for significant growth, driven by the country's leadership in vehicle electrification and its substantial presence in the battery industry. The market's expansion is fueled by the increasing sales of electric vehicles, supported by stringent government regulations and a high adoption rate aimed at reducing carbon emissions. Battery electric vehicles dominate the market, with a substantial share compared to plug-in hybrid electric vehicles, which are also gaining traction due to their flexibility in using fuel or batteries. The rising demand for lithium-ion batteries, propelled by new electric vehicle launches, is expected to further enhance the market's growth trajectory in the coming years.

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Market Size of china ev battery pack Industry

China EV Battery Pack Market Summary
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svg icon Study Period 2017 - 2029
svg icon Market Size (2024) USD 54.59 Billion
svg icon Market Size (2029) USD 69.19 Billion
svg icon Largest Share by Propulsion Type BEV
svg icon CAGR (2024 - 2029) 4.85 %
svg icon Fastest Growing by Propulsion Type BEV
svg icon Market Concentration Low

Major Players
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*Disclaimer: Major Players sorted in no particular order

Key Players

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China EV Battery Pack Market Analysis

The China EV Battery Pack Market size is estimated at 54.59 billion USD in 2024, and is expected to reach 69.19 billion USD by 2029, growing at a CAGR of 4.85% during the forecast period (2024-2029).

54.59 Billion

Market Size in 2024 (USD)

69.19 Billion

Market Size in 2029 (USD)

25.24 %

CAGR (2017-2023)

4.85 %

CAGR (2024-2029)

Largest Segment by Body Type

88.25 %

value share, Passenger Car, 2023

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Electric cars are China's most popular body type owing to its affordable priced models, government subsidies, benfits over petrol cars, and good charging infrastructure.

Largest Segment by Propulsion Type

97.28 %

value share, BEV, 2023

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Easy affordability, vast manufacturing in China, little maintenance, zero emissions, significant subsidies, and no fuel costs, has made BEV's the largest sales in EVs.

Largest Segment by Battery Chemistry

72.99 %

value share, LFP, 2023

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Due to its cheap production costs, extended range, durability, extensive production in China, and higher safety rating, LFP batteries are the most popular.

Largest Segment by Battery Form

87.56 %

value share, Prismatic, 2023

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Due to their low cost, increased safety, and high density per volume, easy manufacturing, prismatic cells are the most common battery type in Chinese EVs.

Leading Market Player

0.04 %

market share, Contemporary Amperex Technology Co. Ltd. (CATL), 2022

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Contemporary Amperex Technology Co., Ltd. (CATL) sells the most EV batteries in China due to its vast reach, high production capacity, and large exports.

China's demand for electric vehicles and lithium-ion batteries is growing due to higher production, government regulations, and consumer adoption. Battery electric vehicles dominate the market while PHEVs are also gaining popularity.

  • China is one of the global leaders in the electrification of vehicles. The country also has a very big name in the battery industry. The country has witnessed tremendous growth in the sales of electric vehicles over the past few years. Higher production of electric vehicles, stringent government norms, and a high adoption rate of electric vehicles to control carbon emissions enhanced the demand for electric vehicles in 2021 over 2017 in the country.
  • The demand for battery electric vehicles is higher compared to the PHEV. The majority of the market, i.e., around 70% of the sales in overall electric vehicles, was acquired by battery electric vehicles compared to around 28% of the plug-in hybrid electric vehicles in 2022. Vehicles using plug-in hybrid technology may switch between using fuel or batteries, giving them an advantage over fully electric vehicles in terms of range anxiety, which is also gradually attracting customers as the sales of PHEV registered a growth of around 32% in 2022 over 2021. As a result, lithium-ion batteries used in electric vehicles grew in 2022 over 2021 in China.
  • In addition to the demand for battery electric vehicles, the need for lithium-ion batteries is rising. Moreover, various companies are launching new electric vehicles. In March 2023, Polestar launched its new electric SUV, which will provide a battery range of around 315 miles (563 kms). Such new launches are expected to boost the demand for electric car batteries during the forecast period in China.
China EV Battery Pack Market

China EV Battery Pack Industry Segmentation

Bus, LCV, M&HDT, Passenger Car are covered as segments by Body Type. BEV, PHEV are covered as segments by Propulsion Type. LFP, NCA, NCM, NMC, Others are covered as segments by Battery Chemistry. 15 kWh to 40 kWh, 40 kWh to 80 kWh, Above 80 kWh, Less than 15 kWh are covered as segments by Capacity. Cylindrical, Pouch, Prismatic are covered as segments by Battery Form. Laser, Wire are covered as segments by Method. Anode, Cathode, Electrolyte, Separator are covered as segments by Component. Cobalt, Lithium, Manganese, Natural Graphite, Nickel are covered as segments by Material Type.

  • China is one of the global leaders in the electrification of vehicles. The country also has a very big name in the battery industry. The country has witnessed tremendous growth in the sales of electric vehicles over the past few years. Higher production of electric vehicles, stringent government norms, and a high adoption rate of electric vehicles to control carbon emissions enhanced the demand for electric vehicles in 2021 over 2017 in the country.
  • The demand for battery electric vehicles is higher compared to the PHEV. The majority of the market, i.e., around 70% of the sales in overall electric vehicles, was acquired by battery electric vehicles compared to around 28% of the plug-in hybrid electric vehicles in 2022. Vehicles using plug-in hybrid technology may switch between using fuel or batteries, giving them an advantage over fully electric vehicles in terms of range anxiety, which is also gradually attracting customers as the sales of PHEV registered a growth of around 32% in 2022 over 2021. As a result, lithium-ion batteries used in electric vehicles grew in 2022 over 2021 in China.
  • In addition to the demand for battery electric vehicles, the need for lithium-ion batteries is rising. Moreover, various companies are launching new electric vehicles. In March 2023, Polestar launched its new electric SUV, which will provide a battery range of around 315 miles (563 kms). Such new launches are expected to boost the demand for electric car batteries during the forecast period in China.
Body Type
Bus
LCV
M&HDT
Passenger Car
Propulsion Type
BEV
PHEV
Battery Chemistry
LFP
NCA
NCM
NMC
Others
Capacity
15 kWh to 40 kWh
40 kWh to 80 kWh
Above 80 kWh
Less than 15 kWh
Battery Form
Cylindrical
Pouch
Prismatic
Method
Laser
Wire
Component
Anode
Cathode
Electrolyte
Separator
Material Type
Cobalt
Lithium
Manganese
Natural Graphite
Nickel
Other Materials
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China EV Battery Pack Market Size Summary

The China EV Battery Pack Market is poised for significant growth, driven by the country's leadership in vehicle electrification and its robust battery industry. The market has experienced substantial expansion in electric vehicle sales, fueled by increased production, stringent government regulations, and a high adoption rate aimed at reducing carbon emissions. Battery electric vehicles dominate the market, accounting for the majority of sales, while plug-in hybrid electric vehicles are also gaining traction due to their flexibility in using both fuel and batteries. The rising demand for lithium-ion batteries is further propelled by new electric vehicle launches, such as Polestar's recent SUV, which is expected to enhance battery demand during the forecast period. The market is largely controlled by five major companies, including BYD, Tesla, Wuling, Toyota Group, and GAC Aion, which collectively hold a significant share of the market.

China's electric vehicle market is one of the largest globally, with a diverse range of buyers and a strong preference for hatchbacks and SUVs. The demand for affordable and spacious vehicles has boosted sales in these segments, with models like the Wuling Hongguang MINIEV and BYD's Dolphin and Yuan Plus achieving notable sales. The market is characterized by a fragmented landscape, with top players like China Aviation Battery Co. Ltd. (CALB), Contemporary Amperex Technology Co. Ltd. (CATL), and others leading the charge in battery production. Recent strategic collaborations, such as CATL's agreement with the Shenzhen Municipal People’s Government, highlight ongoing efforts to innovate in areas like battery swapping and energy storage. Additionally, joint ventures, like the one between Changan Auto and CATL, are set to enhance battery cell production capabilities, further supporting the market's growth trajectory.

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China EV Battery Pack Market Size - Table of Contents

  1. 1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)

    1. 1.1 Body Type

      1. 1.1.1 Bus

      2. 1.1.2 LCV

      3. 1.1.3 M&HDT

      4. 1.1.4 Passenger Car

    2. 1.2 Propulsion Type

      1. 1.2.1 BEV

      2. 1.2.2 PHEV

    3. 1.3 Battery Chemistry

      1. 1.3.1 LFP

      2. 1.3.2 NCA

      3. 1.3.3 NCM

      4. 1.3.4 NMC

      5. 1.3.5 Others

    4. 1.4 Capacity

      1. 1.4.1 15 kWh to 40 kWh

      2. 1.4.2 40 kWh to 80 kWh

      3. 1.4.3 Above 80 kWh

      4. 1.4.4 Less than 15 kWh

    5. 1.5 Battery Form

      1. 1.5.1 Cylindrical

      2. 1.5.2 Pouch

      3. 1.5.3 Prismatic

    6. 1.6 Method

      1. 1.6.1 Laser

      2. 1.6.2 Wire

    7. 1.7 Component

      1. 1.7.1 Anode

      2. 1.7.2 Cathode

      3. 1.7.3 Electrolyte

      4. 1.7.4 Separator

    8. 1.8 Material Type

      1. 1.8.1 Cobalt

      2. 1.8.2 Lithium

      3. 1.8.3 Manganese

      4. 1.8.4 Natural Graphite

      5. 1.8.5 Nickel

      6. 1.8.6 Other Materials

China EV Battery Pack Market Size FAQs

The China EV Battery Pack Market size is expected to reach USD 54.59 billion in 2024 and grow at a CAGR of 4.85% to reach USD 69.19 billion by 2029.

In 2024, the China EV Battery Pack Market size is expected to reach USD 54.59 billion.

China EV Battery Pack Market Report Snapshots

China EV Battery Pack Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029