Energy Storage Market in China 2018-2022

Overview of the Energy Storage Industry in China

China being one of the largest economies in the world, experiencing high economic growth due to which the power needs of the country have grown exponentially. The country is witnessing huge investments in the renewable energy to meet its growing energy needs. The country has become the largest wind and solar energy producer in the world due to the aggressive renewable energy targets. Several renewable sources such as wind and solar PV are being developed in remote areas and islands to achieve universal access to electricity. However, factors such as transmission bottle necks, oversupply, lack of flexible power system, are leading to energy wastage. Therefore, to counter these wastages several storage technologies are being adopted in the country, thus driving the energy storage market in China.

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Companies covered

The energy storage market is neither fragmented nor concentrated with the presence of various vendors who offer various energy storage technologies. The market is currently in its growth stage and filled with opportunities. This energy storage industry analysis report will aid clients in identifying new growth opportunities and designing new growth strategies.  

The report offers a complete analysis of energy storage companies including:

• Narada Power Source
• Shandong Sacred Sun Power Sources
• SHENZHEN CLOU ELECTRONICS
• SUNGROW
• ZTT

Energy storage market growth based on application

• Behind the meter
• Grid integration

According to our market research experts, the behind the meter segment will account for the maximum growth and share of the market. The segment is expected to remain the leading segment during the forecast period. Additionally, the report provides an accurate prediction of the contribution of the various end-user segments in the growth of the energy storage market size.

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Key highlights of the energy storage market in China for the forecast years 2018-2022:

• CAGR of the market during the forecast period 2018-2022
• Detailed information on factors that will accelerate the growth of the energy storage market during the next five years
• Precise estimation of the energy storage market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• A thorough analysis of the market’s competitive landscape and detailed information on several vendors
• Comprehensive information about factors that will challenge the growth of energy storage companies

This market research report analyzes the market outlook and provides a list of key trends, drivers, and challenges that are anticipated to impact the energy storage market in China and its stakeholders over the forecast years.

The energy storage market in China analysis of Technavio has considered how the performance of other related markets in the vertical will impact energy storage market size till 2022. Some of the markets most likely to influence the growth of the energy storage market over the coming years are the li-ion battery market in South Korea and the advanced energy storage systems market.

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