China’s demand for power batteries has ranked first for five consecutive years.
China has the world’s largest consumer market and sales of new energy vehicles. In the past five years, the demand for power batteries in the Chinese market has ranked first in the world. In 2020, China’s power battery terminal consumption demand will account for 44.1%. Even if subsidies decline, along with the Chinese government’s strong support for the overall new energy vehicle and its ecological chain, China’s lithium battery industry has broad prospects for development.
In 2020, as Europe has become the world’s largest new energy vehicle market, the European market will drive a substantial increase in the European power battery market demand. The European power battery terminal consumption demand will account for 30.4%, making it the world’s second largest power battery consumer market.
