Well-known car companies at home and abroad continue to add new energy vehicles, and their cost, cruising range and convenience of charging will continue to improve. We expect the domestic new energy vehicle sales growth rate of 35% to maintain high growth from 2019 to 2020. The development of power batteries to high energy density and low cost will be a trend. In the next 5-10 years, the progress of ternary power battery technology will be relatively stable. The low-end production capacity will be cleared, and high-end production capacity is entering a new round of capacity expansion. period. We expect the combined growth rate of new capacity of power battery to be 30% from 2019 to 2020. The leading company of high-quality lithium battery equipment will benefit from the new round of power battery expansion and concentration improvement, and is expected to enter the foreign market, recommend Keheng shares, the leader of the beneficiary target Smart, win-win technology.
It is estimated that China's new energy vehicles will maintain high growth from 2019 to 2020, and the national policy of power batteries will enter a new round of expansion. The guidelines for the production and sales of new energy vehicles will continue to increase, and mainstream auto companies will increase investment in new energy vehicles in China. On January 7, 2019, the Tesla Shanghai Super Factory was opened, and SAIC, GAC, and Geely were adding new energy vehicles. We expect China's new energy vehicle sales to reach 2.3 million units in 2020 and a compound growth rate of 35% from 2019 to 2020. In 2018, the market share of TOP10 power battery has increased by nearly 15 percentage points to 82.6%, and the low-end production capacity has gradually cleared. The domestic head-power battery companies have expanded their production plans, and the superimposed foreign-funded battery companies have accelerated the layout of the Chinese market. The battery ushered in a new round of capacity expansion, and it is estimated that the cumulative capacity expansion will exceed 170Gwh from 2019 to 2020.
In 2017, the localization rate of lithium-ion equipment was nearly 90%. Leading lithium-ion equipment companies or entering foreign markets according to high-tech lithium battery data, the domesticization rate of domestic lithium-ion equipment in 2014 was 40-50%, and by 2017 it was close to 90%. At present, China's lithium battery equipment enterprises have covered all aspects of power battery production. The equipment performance of the leading suppliers such as Pioneer Intelligence, Wintech, Haoneng Technology and Greene has reached the international advanced level.
It is estimated that the demand for overseas power battery capacity construction will exceed 300GWh in 2018-2025. In December 2018, Pioneer Intelligence and Tesla signed an order for 43 million lithium battery equipment. It is expected that the leading domestic lithium battery equipment enterprises are expected to enter the foreign market and open up the growth space. In the year, the domestic battery new capacity compound growth rate is about 30%, and the equipment leader Hengqiang combined with the downstream power battery enterprise capacity expansion plan. We expect the domestic power battery new capacity in 2019 and 2020 to be 80GWh and 100GWh, respectively, up 33% and 25%. %.
With the development of high energy density and high quality of power batteries, it will promote the improvement of equipment technical requirements, and the concentration of superimposed power battery links will increase. The equipment suppliers entering the downstream head power battery enterprises will benefit from the new round of power batteries. With the expansion and concentration, the high-quality equipment suppliers in all aspects of the lithium battery industry chain will usher in a new round of development opportunities, which is expected to surpass the growth of the industry.