The battery industry from China as a consumer and supplier

Overview of China's Battery Industry in 2024

In 2024, China's battery industry spans segments including lithium-ion batteries, sodium-ion batteries, lead-acid batteries, zinc-manganese batteries, solar cells, and fuel cells. Driven by demand from new energy vehicles (NEVs), energy storage, and consumer electronics, the industry maintained diversified growth, while the construction of a carbon footprint management system advanced steadily.

1. Battery Demand Landscape

(1) Automotive and NEV Sectors

In 2024, China’s automobile production and sales hit 31.282 million and 31.436 million units, up 3.7% and 4.5% year-on-year. Total automobile ownership reached 453 million (including 353 million passenger vehicles), with ~55.44 million kVAh of starter lead-acid batteries replaced in maintenance scenarios.

For NEVs, 2024 production and sales reached 12.888 million and 12.866 million units (up 34.4% and 35.5% year-on-year), accounting for 40.9% of total new car sales. By end-2024, NEV ownership hit 14.402 million units (8.99% of total car ownership), and is projected to reach 80 million by 2030.

(2) Two-Wheelers and Low-Speed Vehicles

In 2024, China produced ~50.58 million electric bicycles (15.04 million exported). By year-end, electric bicycle ownership will reach 400 million, including over 50 million lithium-ion battery-powered units.

For motorcycles: 16.5645 million/16.452 million fuel-powered units (up 13.86%/12.99% year-on-year) were produced/sold; 3.4063 million/3.4666 million electric units (down 35.2%/27.96% year-on-year) were produced/sold, with 22.13 million electric units exported (up 47.1% year-on-year).

(3) Electronics and Communications

In 2024, China had 12.493 million mobile communication base stations (including 4.25 million 5G stations). In consumer electronics: 1.67 billion mobile phones were produced (up 7.8% year-on-year, 814 million exported, up 1.5% year-on-year); 143 million laptops and 112 million tablets were exported.

(4) Wind-PV-Storage and Special Applications

In 2024, new wind power installations reached 88 million kW (with 68.3 GW·h supporting storage); new PV installations hit 277 GW (with 215 GW·h supporting storage), bringing cumulative PV capacity to 887 million kW.

For drones: 1.987 million units were registered by end-August 2024, with over 2,300 manufacturers and 1,000+ mass-produced models.

2. Production & Sales of Major Batteries

(1) Lithium-Ion Batteries

In 2024, output reached 29.457 billion units (up 13.7% year-on-year), with total capacity of 1,175 GW·h (849.6 GW·h for power, 248.2 GW·h for storage, 80.0 GW·h for consumer use).

Exports: 3.914 billion units (US$61.121 billion); imports: 812 million units (US$579 million).

From Jan–Oct 2024, material output included 2.4 million tons of cathodes, 11.55 million tons of anodes, 10 billion m² of separators, and 1.15 million tons of electrolytes. R&D on semi-solid lithium-ion batteries accelerated.

(2) Lead-Acid Batteries

Output: ~283 GW·h (down 5% year-on-year); exports: 73.1642 million units (US$1.168 billion); imports: 35.3661 million units (US$178 million).

Lead concentrate: 1.2521 million metal tons produced (Jan–Oct 2024); annual demand: 3.073 million metal tons (1.96 million produced, 1.05 million net imported).

(3) Zinc-Manganese & Other Batteries

• Ordinary zinc-manganese: 14.3 billion units (US$576 million exported)

• Button zinc-manganese: 299 million units (US$18 million exported)

• Cylindrical alkaline manganese: 82 million units (US$34 million exported)

• Other alkaline manganese: 174 million units (US$11 million exported)

• Silver oxide: 132 million units (US$23 million exported)

• Zinc-air: 653 million units (US$191 million exported)

• Primary lithium: 2.995 billion units (US$586 million exported)

3. Solar Cell Market

From Jan–Oct 2024, polysilicon, wafer, cell, and module output grew >20% year-on-year. Annual solar cell output hit 684.95 GW (up 15.7% year-on-year).

Exports: US$7.787 billion (up 28.2% year-on-year); imports: US$2.943 billion (global market share expanded).

4. Progress in Battery Carbon Footprint Management

On June 4, 2024, 15 ministries (including the Ministry of Ecology and Environment) issued the Implementation Plan on Establishing a Carbon Footprint Management System. It aims to build a carbon footprint system, release accounting standards, develop connection rules for key products, and establish a database, labeling certification system, and disclosure mechanism to drive green transformation.

5. Industry Summary

In 2024, China’s total chemical power source output is estimated at 71.623 billion units, with 45.661 billion units exported (US$97.577 billion). Key growth drivers include 10+ million NEV sales, expanding power/storage lithium-ion battery production, and solar cell capacity growth. R&D on all-solid-state and sodium-ion batteries accelerated, and the carbon footprint system improved—laying a foundation for high-quality development.