China Lithium-ion Battery Market Size & Outlook, 2023-2030
China lithium-ion battery market, 2018-2030 (US$M)
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China lithium-ion battery market highlights
- The China lithium-ion battery market generated a revenue of USD 114.4 million in 2023 and is expected to reach USD 644.5 million by 2030.
- The China market is expected to grow at a CAGR of 28% from 2024 to 2030.
- In terms of segment, lithium iron phosphate (lifepo4) was the largest revenue generating product in 2023.
- Lithium Iron Phosphate (LiFePO4) is the most lucrative product segment registering the fastest growth during the forecast period.
Lithium-ion battery market data book summary
| Market revenue in 2023 | USD 114.4 million |
| Market revenue in 2030 | USD 644.5 million |
| Growth rate | 28% (CAGR from 2023 to 2030) |
| Largest segment | Lithium iron phosphate (lifepo4) |
| Fastest growing segment | Lithium Iron Phosphate (LiFePO4) |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Lithium Cobalt Oxide (LCO), Lithium Iron Phosphate (LiFePO4), Lithium Nickel Cobalt Aluminum Oxide (NCA), Lithium Manganese Oxide (LMO), Lithium Titanate (LTO), Lithium Nickel Manganese Cobalt (NMC) |
| Key market players worldwide | BYD Co Ltd ADR, Hitachi Ltd, Johnson Controls International PLC, LG Chem, Panasonic Holdings Corp, Samsung SDI Co Ltd GDR - 144A, Toshiba Tec Corp ADR, GS Yuasa Corp |
Other key industry trends
- In terms of revenue, China accounted for 24.5% of the global lithium-ion battery market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China lithium-ion battery market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 87.8 million by 2030.
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Lithium-ion Battery Market Scope
Lithium-ion Battery Market Companies
| Name | Profile | # Employees | HQ | Website |
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China lithium-ion battery market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to lithium-ion battery market will help companies and investors design strategic landscapes.
Lithium iron phosphate (lifepo4) was the largest segment with a revenue share of 33.83% in 2023. Horizon Databook has segmented the China lithium-ion battery market based on lithium cobalt oxide (lco), lithium iron phosphate (lifepo4), lithium nickel cobalt aluminum oxide (nca), lithium manganese oxide (lmo), lithium titanate (lto), lithium nickel manganese cobalt (nmc) covering the revenue growth of each sub-segment from 2018 to 2030.
China as a part of its Electric Vehicle Initiative, under the Clean Energy Ministerial, aims to ensure that approximately 30% of vehicles comprising cars, trucks, vans, and buses, that ply on roads in the country are electricity driven by 2030.
Moreover, the Government of China has taken more efforts to develop advanced electric vehicle charging infrastructures in the country than the efforts made by other industrialized countries in the world.
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Horizon Databook provides a detailed overview of country-level data and insights on the China lithium-ion battery market , including forecasts for subscribers. This country databook contains high-level insights into China lithium-ion battery market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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China lithium-ion battery market size, by product, 2018-2030 (US$M)
China Lithium-ion Battery Market Outlook Share, 2023 & 2030 (US$M)
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