Power battery industry for tools and wheels growing logic analysis

When the new energy vehicle power and power battery markets and Lithium iron phosphate raw material markets continue to prosper, meantime the power battery market is also eruption restless. With the development of electric tools, electric two-wheeled vehicles, and battery backup for home, the power wheels battery market is ushered in high-speed growth

In 2021, EV and E-Buses account for 79% of the lithium power battery

Ropelessness brings growth demand for power tool batteries

Power batteries mainly provide the power system of various segmented products. The main feature are to suitable for the needs of ropelessness and electrification. power batteries are expected to be one of the driving forces to promote the continuous growth of the lithium battery market.

Make test on power tool bateries when it use as a power wheels battery
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Multi-application scenarios make lithium power batteries market continue to explode

power batteries are mainly used in markets such as electric tools, electric bicycles, and home cleaning appliances represented by vacuum cleaners. In recent years, it has continued to explode.

At the same time, the fields of light power areas such as balance vehicles, drones, electric bicycles, electric tricycles, electric motorcycles, garden electric tool field , floor care tool fields such as sweeping machine rope-free vacuum cleaners can be applicable. Electric tools, forklifts and two -wheels are the main market segments of power battery shipments in my country, with significant long tail effects.

According to Marketsand Markets, the global electric tool market will reach $ 41.7 billion by 2024, of which rope -free electric tool penetration will exceed 50%.

According to the research report released by Guoxin Securities, currently the sales of vacuum cleaners in major countries in the world are about 130 million units per year, and they will grow at a rate of about 2-3%per year;

The number of large-capacity power tool batteries of rope-free products is generally about 7, bringing potential market spaces of more than $1 billion per years.

In this context, many battery companies take part in the power battery market, in this time of fierce competition, In 2019, the output value of power batteries exceeded 10 billion. Since then, for two consecutive years, the growth rate of power battery sales has maintained a growth rate of more than 50%.

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In the first quarter of this year, there were 29 new domestic investments and construction projects for power batteries, with a total investment of 339.11 billion yuan, and the planned power battery production capacity was nearly 877GWh;

The worldwide battery market 1990-2021

The main reason why lithium batteries expansion fast in two-wheel bike

After the new national standard comes out, the replacement speed of lithium batteries on lead acid accelerates and completes the ideal transformation of reality.

The emergence of the shared two-wheeled and two-wheeled bike market, such as Meituan, HELLO, Didi, and other companies entered the market, and put a large number of shared electric two-wheeled vehicles, so the demand for lithium batteries has rapid rise.

Due to the increase in demand in overseas markets , especially in the European market , the demand for electric two – wheeled vehicles is also particularly strong this year .

With the expansion of the demand for lithium batteries of power markets such as electric tools, two-wheeled electric vehicles, mobile energy storage power, smart home, and wearable equipment, many power battery factories have begun to pay more attention than before to the power battery market 

In addition, the current outdoor market in China is still in its infancy. With the sustainable development of China’s economy, the degree of urbanization and per capital consumption capacity have been further improved. Outdoor consumption habits are becoming increasingly mature, and the potential for portable energy storage markets is huge.

It is expected that the global power lithium battery market space in 2025 is 58.95 billion yuan, and the CAGR is 12.4%.

It is expected that the shipment of lithium battery of gardening tools in 2025 is 1.78 billion , the shipments of the lithium battery of the electric bicycles are 1.15billion, 1.39 billion in lithium battery shipments for vacuum cleaners, and 1.47 billion in portable energy storage lithium batteries.

The shipments of lithium batteries of the four tracks were 5.77 billion . In 2025, it is expected that the shipments of power lithium batteries are 8.61 billion yuan, the market space is 58.95 billion yuan, and the growth rate of the 2021-2025 years is 14.35%.

power battery
Total lithium power battery market will reach 2.8 TWH & BN$ 290 in 2030

Want To Learn More About Lithium Battery industry?

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Ending

With the upgrading of lithium power battery emerging market consumption, increased per capital housing area, increased car ownership, and rising to labor costs, the construction industry and home DIY requires demand for electric tools, and their consumption attributes will increase.

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