China is expected to account for more than 70 percent of the global battery market by 2020, Forbes News reported on Aug. 7.
In other words, China could dominate the global battery industry.
Data shows that the sales volume of new energy vehicles in China reached 517,000 in 2016, ranking first in the world for two consecutive years. Sales are expected to reach 1.5 million by 2020. The huge sales base of new energy vehicles drives the development of the battery industry. There are nearly 150 battery manufacturers in China, large and small. Moreover, Chinese-made lithium-ion batteries now account for more than 90 percent of electric cars sold under Chinese brands.
In this case, China's domestic battery industry is also gathering momentum, and more and more small battery companies are gradually declining in the sales proportion or even facing the risk of closing down. At the same time, battery companies are monopolizing the development represented by battery giants such as BYD, Ningde Times, and Guoxuan High-tech.
By 2020, China's power battery industry will account for 70% of the global battery industry
China not only has a good global sales of electric vehicles but also has a large sales scale of power battery enterprises. According to statistics, seven of the top 10 power battery companies in the global sales ranking in 2016 are from China, followed by BYD, Ningde Times, Watma, Guoxuan Gaoxin, Lishen, Bike, and AviC Lithium Battery. In addition, Wanxiang A123 and Ha Optics are also ranked 11th and 12th.
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