China's Lead Acid Battery Shipments Exceed 300 Million KVAh For The First Time, And Will Continue To Grow in The Past Two Years
Nov 18, 2022
Recently, research institutions EVTank, Ivey Economic Research Institute and China Battery Industry Research Institute jointly released the White Paper on the Development of China's Lead Acid Battery Industry (2022). The white paper statistics show that in 2021, the global lead-acid battery market will reach 47.43 billion US dollars, with a year-on-year growth of 8.83%, reaching the highest level in recent years.
EVTank pointed out in the white paper that the global market share of Chinese lead-acid battery enterprises will be 42.0% in 2021. EVTank data shows that in 2021, the overall shipment of lead-acid batteries in China will exceed 300 million KVAh for the first time, reaching 304 million KVAh, a significant year-on-year increase of 14.9%, and the overall market size will reach 127.57 billion yuan. Looking ahead, EVTank believes that China's lead-acid battery industry will still maintain a positive growth trend in the past two years. However, considering the gradual decline in the price of lithium ion batteries and the gradual industrialization of battery systems with higher cost performance such as sodium ion batteries, China's lead acid battery shipments are expected to decline year-on-year in 2024.
From the perspective of enterprise competition pattern, EVTank said in the white paper that with the gradual increase of environmental protection inspection on lead-acid batteries in recent years and the gradual replacement of its market space by new battery technologies such as lithium-ion batteries, the number of lead-acid battery enterprises has kept declining year by year. The white paper data shows that the number of lead-acid battery manufacturers in China has dropped from 1500 in 2010 to 110 in 2021, and a large number of enterprises are in the state of production suspension or rectification. According to EVTank's statistical data, in 2021, China's lead acid battery market share will be highly concentrated, with the total market share of Tianneng and Chaowei reaching 49.0%, and the market share of the top six enterprises in the industry totaling 77.5%.
The White Paper on the Development of China's Lead Acid Battery Industry (2022) pointed out that automotive starting batteries and power batteries are still the largest application market of lead acid batteries, accounting for more than 70% in total. EVTank analyzed that the rise in the price of lithium ion battery materials such as lithium carbonate in 2021 directly led to the rise in the price of lithium ion batteries, and some electric bicycle enterprises abandoned lithium ion batteries to choose lead-acid batteries again. In addition, The starting battery market driven by new energy vehicles also grew significantly. The secondary replacement market superimposed by the new car supporting market will drive the growth of China's lead acid battery shipments in 2021.
The White Paper on the Development of China's Lead Acid Battery Industry (2022) has carried out detailed research and analysis on the global and China's lead acid battery shipments, market scale, regional and enterprise competition pattern, lead metals in the upstream of the industrial chain, application fields in the downstream of the industrial chain, lead acid battery recycling, etc., and analyzed the lead acid battery, lithium ion battery On the basis of the advantages and disadvantages of new battery technologies such as sodium ion battery and the relationship between future market competition and substitution, the white paper made a forward-looking analysis and prediction of the development trend of the lead-acid battery industry in the next five years, and selected several representative enterprises such as Tianneng Group, Chaowei Power, Camel Co., Ltd., Lishi International, and Nandu Power to analyze their business situation, business transformation strategy, etc. in detail.
