China's Position in the Global Lithium Battery Market
Posted: Thu Feb 13, 2025 7:15 am
The US leads the market, with EV sales growing due to favorable regulations and a large number of private operators. By 2030, 64% of passenger cars in the US are expected to be powered by lithium batteries. Among the major lithium battery companies, Albemarle Corporation (ALB) generates the highest profits and has a market capitalization of $18.1 billion. Other major players such as South Korea's LG Energy Solutions, Japanese industrial giant Toshiba Corporation and Arcadium Lithium PLC are global leaders in lithium battery development.
Meanwhile, Chinese battery makers occupy a key position in the global lithium battery market. With a head start of more than a decade, China not only leads the world in battery production and planned capacity, but is also the world’s largest EV market. Although the end of government subsidies and economic pressures in early 2023 temporarily held qatar number data back EV production, battery makers remain confident in the long-term development of the market, announcing 247 gigawatt-hours (GWh) of new battery capacity in the first quarter of 2023 alone.
EVE Energy is expected to take up nearly half of this new capacity and become the second-largest battery maker in China after CATL by 2030, with capacity increasing by nearly 500% from 2023. The positions of major players such as BYD, CALB Group, and SVOLT Energy Technology will remain unchanged over the forecast period. In addition, companies such as Sunwoda Electronic, Chuneng New Energy and Funing Technology will have a total battery production capacity of over 100 GWh in China by 2030. The rapid changes in China's battery industry mean that new leading companies may emerge by 2030.
Meanwhile, Chinese battery makers occupy a key position in the global lithium battery market. With a head start of more than a decade, China not only leads the world in battery production and planned capacity, but is also the world’s largest EV market. Although the end of government subsidies and economic pressures in early 2023 temporarily held qatar number data back EV production, battery makers remain confident in the long-term development of the market, announcing 247 gigawatt-hours (GWh) of new battery capacity in the first quarter of 2023 alone.
EVE Energy is expected to take up nearly half of this new capacity and become the second-largest battery maker in China after CATL by 2030, with capacity increasing by nearly 500% from 2023. The positions of major players such as BYD, CALB Group, and SVOLT Energy Technology will remain unchanged over the forecast period. In addition, companies such as Sunwoda Electronic, Chuneng New Energy and Funing Technology will have a total battery production capacity of over 100 GWh in China by 2030. The rapid changes in China's battery industry mean that new leading companies may emerge by 2030.