Demand for batteries in China to pass $42 billion in 2016
August 5, 2013
Filed under Features
Demand for batteries in China is forecast to increase 13.0 percent annually to 259 billion yuan ($42.1 billion) in 2016, according to a Batteries in China, a new study from the Beijing office of The Freedonia Group, Inc., a Cleveland-based research firm.
Growth will be driven by a continuing shift in the product mix toward higher-value secondary batteries, rising ownership of high-drain electronic products by Chinese consumers and expanding production of motor vehicles and electronics. China maintains a trade surplus in batteries, with exports accounting for nearly 24 percent of battery shipments in 2011.
Demand for secondary batteries in China is projected to rise 13.5 percent per year through 2016. Lead-acid batteries will remain the largest segment, accounting for 55 percent of the secondary battery market total in 2016.
The transportation equipment market will be principally responsible for advances in secondary battery demand. Demand in this market is expected to grow nearly 17 percent per annum through 2016, benefiting from expanding production and a growing park of electric bicycles, motorcycles and motor vehicles. The portable devices battery market will increase nearly 12 percent annually through 2016. Gains will be supported by rising consumer electronics production and increasing exports.