Recently, the research organization EVTank, in collaboration with the China YiWei Institute of Economics, jointly released a White Paper on China Lithium-Ion Battery Industry Development (2025). According to the data presented in the paper, the global shipment volume of lithium-ion batteries in 2024 reached 1,545.1 GWh, marking a year-on-year increase of 28.5%.
From the perspective of shipment structure, the effect of China’s trade-in policy in 2024 far exceeded expectations. However, factors such as economic weakness, interest rate hikes, and inflation respectively led to negative growth and single-digit growth in the EV markets of Europe and North America. In contrast, China continued to be the largest driving force behind global growth. With these combined effects, global shipments of automotive power batteries (EV LIB) reached 1051.2 GWh, reflecting a 21.5% increase compared to the previous year.
In the energy storage sector, China’s strong policy support for new energy and its central and state-owned enterprises’ strategic expansion, along with falling energy storage costs, continued to drive rapid growth in the energy storage systems (ESS). In the US, the rigid demand for energy storage combined with the impact of ITC subsidies became more evident, while emerging markets also experienced explosive growth. In the second half of 2024, several large GWh orders were signed in the UK, Saudi Arabia and Australia. As a result, global energy storage battery shipments (ESS LIB) reached 369.8GWh, marking a 64.9% year-on-year increase.
In the small battery sector, the cyclical trend was evident. Driven by a new round of replacement demand in ICT and advancements in new technologies, the inventory depletion of small power batteries and the acceleration of electrification helped stabilize the market and reversed the downward trend in 2024. Global small battery (SMALL LIB) shipments reached 124.1GWh, representing a year-on-year increase of 9.6%.
Source: WeChat Official Account—EVTank
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