The Chinese battery market size is estimated to grow at more than 8% over the forecast period. The chemical batteries majorly used in China include lithium ion battery, lead-acid battery, nickel-metal hydride battery, and nickel-cadmium battery.
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Lithium ion batteries and lead-acid batteries are having steady requirement with large market volume where as the remaining two are having less market expansion scope owing to the performance, cost, and environmental issues of these batteries. The lead-acid battery production was more than 200 million KVAh in 2013, rising more than 15.0% from the previous year.
Opinion was taken unanimously by the five ministries of China on the promotion of standard development of Lead-acid battery and secondary lead market. They considered as significant one along with rearward manufacture abilities be eradicated, and settled at eliminating outdated capacities which failed the security of the environment. And also which doesn’t fulfil admittance should be abolished by 2015. Hence, Lead-acid battery industry in China is going to be at a final phase of consolidation over the forecast period.
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Lithium battery consignment was over 4.760 billion units increasing by more than 18.5% every year. The credit goes to it being free of heavy metal such as cadmium and lead, thus these batteries are known as the green-product, and this is the reason different countries strongly encourage the lithium battery and broadly used for equipment of energy storage and for the electric automotives.
Nevertheless, in due course, the technical progress and decreasing price is going to be vital to the extensive functions of the lithium battery. In 2013, China had shipped more than 800 million numbers of batteries of nickel-metal hydride, losing over 5.0% from the previous year. China produces small sized nickel-metal hydride batteries which are anticipated to face a reduction of shipment due to the replacement by the lithium battery.
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The China battery market is reducing along with the decrease of battery import because many foreign companies are setting up their manufacturing industries in China to become a part of internal production, hindering China’s market. China battery market is ruled by the foreign funded industries.
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