China’s LiB Market Scale Reach $16.7 Billion
LiB(Lithium ion battery) has been widely used on smartphone, laptop, electronic toys, camera, electric vehicle and motorbike as reliable electric storage equipment. According to CIAPS(China Industrial Association of Power Sources), China’s LiB market scale has expended to $16.7 billion in 2016, an increase of 34.01% yoy, and it would be $20 billion in 2017. According to Qianzhan Industry Research Institute, China’s production of LiB reached over 7.8 billion units in 2016, an increase of 40%.
Due to incentive policy from government, China’s new energy vehicle industry grows rapidly, which also boosts the demand on LiB power. According to CIAPS, China’s Li-ion power battery market has expended to $9 billion, an increase of 65.8% yoy, accounting for 53.9% of the total LiB market in 2016. And China Li-ion power battery production has reached 30.5GWh in 2016, an increase of nearly 80% yoy.
According to Wind Information, China’s LiB industry totaled more than 500 manufacturers in 2016, it also has fierce competition with Japanese and Korean companies on technology, price and service.
It’s reported that global LiB market scale has risen from $5.6 billion in 2005 to $22.1 billion in 2015 with a CAGR at 14.7%. It’s estimated that the global LiB market scale would grow to $36.3 billion. In 2015, global LiB production has reached 100.75GWh, an increase of 39.45% yoy.
Rapid development on electric vehicle boosts demand on LiB power battery globally. According to EV Tank, in 2015, annual global LiB power battery production has risen to 28.47GWh, an increase of 184.4% yoy, which reached 45.33GWh in 2016, an increase of 59.22% yoy.
Currently China has become the region with world’s most active LiB development. Due to growth on new energy vehicle industry and replacement on lead battery, LiB power battery will be the main drive of the whole LiB industry in the next few years though the industry still faces issues like low industrial concentration, lack of technology content and disorderly competition.