Exports of energy storage batteries surge

Why are Chinese battery exports growing so fast?

"Use of new energies is slowly entering the main market as compared to the past when it was often seen as a supplement to traditional energies." Experts said the growth in lithium battery exports reflected the increasing international recognition of Chinese battery manufacturers.

How is the global battery market advancing?

The global battery market is advancing rapidly as demand rises sharply and prices continue to decline. In 2024, as electric car sales rose by 25% to 17 million, annual battery demand surpassed 1 terawatt-hour (TWh) – a historic milestone.

How did China's Lithium battery exports perform in 2022?

The export surge took place throughout last year. China's total lithium battery exports in 2022 amounted to 342.65 billion yuan, an increase of 86.7 percent year-on-year, according to the Ministry of Industry and Information Technology.

Which countries are leading the global battery industry?

Despite China’s current market dominance, the expansion of battery production is also moving fast elsewhere. Korea and Japan are already major players in the global battery industry, home to key battery makers and specialised suppliers with strong expertise in NMC batteries.

Is the battery industry entering a new phase of development?

After years of investments, global battery manufacturing capacity reached 3 TWh in 2024, and the next five years could see another tripling of production capacity if all announced projects are built. These trends point to a battery industry entering a new phase of its development.

Which Chinese battery manufacturers are ramping up production?

Chinese battery manufacturers are also ramping up production with a focus on technological advancement. Battery maker Contemporary Amperex Technology Co Ltd recently unveiled its condensed battery and said it would soon be mass-produced.