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China Energy Storage Market 2019 – Industry Statistics Analysis by 2025

Author : Rahul Sankrityayan | Published Date : 2019-08-01 

The shifting focus of the Chinese government toward the adoption of renewable energy sources has been impelling China energy storage market share. The rapidly increasing energy needs and subsequently decreasing non-renewable energy sources have raised concerns in China about the substantial requirement for renewable energy facilities.

The uprising carbon footprints across the country owing to the increased emissions from fossil fuel-based applications have also promoted the adoption of renewable energy systems. In this regard, the Chinese government has been implementing various policies to accelerate the use of renewable energy alternatives such as solar power plants, wind turbines, and hydropower plants.

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Ever since the government has depicted an increasing interest in renewable energy reforms, the energy storage sector in the region has become a lucrative avenue. Numerous companies and foreign investors have also been showing interest in China energy storage market. Moreover, the rapid space transformation in the automotive sector which is experiencing an exponential rise in investment in the development of electric vehicles for reducing the pollution level is also fueling the demand for energy storage batteries.

Currently, there are 487 electric vehicle manufacturers located in China. The main reason behind the presence of such a large number of EV manufacturers is the supportive government policies along with the availability of subsidies for the establishment of businesses. The Development and Reform Commission reported that recently, funds worth USD 47 billion have been released to promote EV technologies.

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The revolutionary change in the automotive sector across China has significantly propelled the requirement of lithium-ion batteries. Numerous companies have been investing in the development of Li-On batteries to target the Chinese market. For instance, Jiangxi Nanshi Lithium and Electronics is planning to invest USD 72 million to construct a plant having a capacity of 10,000 ton per year production of lithium carbonate at Yichun city in Jiangxi province. It has also received funding from Fengchao Energy which is one of the subsidiaries of domestic carmaker Great Wall Automobile.

For the record, within January to October 2018, China produced 879000 new energy vehicles, out of which 860000 vehicles have been sold. With the demand for Li-On power batteries increasing by the day and the expanding energy vehicle sector, the players in the China energy storage market have been focusing on the improvement of storage facilities with the launch of pilot production plants.

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In line with the growing infrastructure development, surging installation of renewables, and increasing demand for electric vehicles, China energy storage market has revolutionized the way the overall energy domain is perceived. The rise in the establishment of Li-On production plants has remarkably decreased the overall price trends of the China energy sector. The thrusting investment from the foreign countries will further strengthen the energy storage technology and its applications in the nation. Reportedly, by the end of 2024, China energy storage market will surpass a revenue collection of USD 6 billion.

Chapter 4. China Energy Storage Market, By Deployment

4.1. China energy storage market share by deployment, 2017 & 2024

4.2. Behind the meter

4.2.1. China market from behind the meter, 2013 - 2024

4.3. Renewable integration

4.3.1. China market from renewable integration, 2013 - 2024

4.4. Ancillary services

4.4.1. China market from ancillary services, 2013 – 2024

Chapter 5. China Energy Storage Market, By Technology

5.1. China energy storage market share by technology, 2017 & 2024

5.2. Lithium-ion

5.2.1. China market from lithium-ion, 2013 - 2024

5.3. Lead acid

5.3.1. China market from lead acid, 2013 - 2024

5.4. Flow vanadium

5.4.1. China market from flow vanadium, 2013 - 2024

5.5. Others

5.5.1. China market from others, 2013 - 2024

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About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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