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China Lithium Ion Battery Industry Research Report Wholesale Jerseys China , Industry Research Report For China Lithium Ion Battery Market- Ken Research
by kenresearch6 · November 30, 2018
The lithium-ion battery market of China is at its growth stage. China is one the major producers of the lithium-ion batteries across the globe. China accounted approximately 55.0% share in the global lithium-ion battery production, whereas U.S. accounted for a share of 10.0% as of June 2017.
Energy Diversification: The Government of China is focusing on energy diversification and has a target of achieving 680 GW renewable capacity by 2020. Growing use of energy storage devices such as emergency power backups or UPS has resulted in increased demand for lithium ion batteries in China moreover there is a strong potential of increased deployment of lithium-ion battery in energy storage systems.
Growth of Electric Vehicles: Policy support and incentives are expected to provide huge opportunity for development of lithium-ion battery based electric vehicles in the country. The Chinese government has also formed medium and Long-Term Development Plan for Automotive Industry about the annual output of new energy vehicles which will reach 5 million by 2020.
The composition of end user segments of lithium ion batteries has been changing rapidly in China. Consumer electronics were the major users of lithium ion batteries as of 31st December 2017 which is expected to toppled by the automotive segment majorly due to introduction of New Energy Vehicle (NEVs) government policy and government initiative towards zero emission will led to expansion of EVs in China.
The automotive segment has huge potential for growth due to increased government initiative to promote sales of electric vehicles Wholesale Jerseys , as government has planned to introduce 5 million EVs on road by 2020 in the country. At the same time the demand from people for eco friendly vehicles due to rising concerns of pollution will lead to positive growth in the sales of Electric vehicles in the country.
The rapid pace of technological development is a major challenge for lithium ion battery manufacturers.聽 Introduction of latest high-tech machines for production lithium-ion battery restricts the manufacturers to produce limited type of battery packs and it also affect the production efficiency of a company which are operating on the old technology. The other key challenges faced are the price war by other International battery manufacturers across the globe.
The report titled, 鈥?u>China Lithium Ion Battery Market Outlook to 2022鈥? by Ken Research believe that the increase in Electric Vehicles and Energy storage systems will drive growth in China Lithium Battery Market in the future.
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