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Although the growth of the lithium battery market was shadowed by COVID-19 which was severe in 2020, the global lithium-ion battery market is predicted to reach 71 billion dollars in 2025 and the demand for the lithium-ion batteries will exceed 9,300 GWh for electric vehicle and energy storage applications according to Statista, while lithium supply will grow substantially according to the forecast by the S&P Global Market Intelligence.
According to the report of GGII, Chinese manufacturers of motive lithium-ion battery and other lithium batteries are accelerating to expand the production since this January due to the roaring motive battery demands and increasing price of the raw material. The projected production capacity will exceed 88.5GWh in 2021, among which 53.5GWh is to cater for the needs of the overseas market. With increasing new technologies applied in the equipment for lithium-ion battery production, the production efficiency of Chinese manufacturers is greatly improved and the export of motive lithium batteries is predicted to be more than 150GWh, which is almost half of the global shipments at 280GWh. UFO Power technology is also ready to service customers all over the world with accelerating production capacity and newer technologies.
Since lithium-ion batteries above 36V are the most demanded voltage segment, offering higher capacity, more life cycles and more powerful safety than lead-acid batteries, this voltage segment is supposed to enjoy the most growth in the coming years.
new products. UFO Power meets the market needs with various products rated at 48V, such as wall-mounted battery, which include our new arrival powerwall home energy storage battery with an advanced touch LCD display design in the lead. OEM and ODM service is provided with the support of our professional R&D team, and welcome to discuss with our sales representatives for more details.