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China Electric Vehicle Battery Market Forecast 2021-2026


The China electric vehicle battery market is evaluated to project a CAGR of 17.83% during the estimated years. The market growth of the country is set to be influenced by key factors such as rising incentives associated with the purchase of new electric vehicles (NEVs), the increasing support extended by the government, and the developing electric vehicle charging system industry. The base year considered for the market study is 2020, and the forecasted years are from 2021 to 2026.


In 2020, efforts were established to push the new energy vehicles industry in China steadily into the novel stage of market-oriented, high-quality development. Moreover, the Ministry of Industry and Information Technology, the Ministry of Finance, the Ministry of Science and Technology, and the National Development and Reform Commission conjointly issued the "Notice on Improving the Financial Subsidies for the Promotion and Application of New Energy Vehicles," in April. The notice clearly stated that the validity period of financial subsidies for new energy vehicles would be extended to the end of 2022. Besides, the financial subsidies will phase out in the upcoming two years. This move consolidated the early development results of the industry, in addition to further propagating the stable, healthy, as well as market-oriented development of the market.

Furthermore, China's electric vehicle charging station sector is well supported by its battery electric vehicle market, backed by generous sustenance from the government. Therefore, these factors are anticipated to fuel the China electric vehicle battery market growth.


Leading firms operating in the market are CATL, BYD, Samsung SDI, etc.

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China Electric Vehicle Battery Market Forecast 2021-2026
Published By :Inkwood Research
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