Energy Storage Market in China 2018-2022 | Key Facts and Figures | Technavio

The energy storage market in China is expected to post a CAGR of close
to 40% during the period 2018-2022, according to the latest market
research report by Technavio.
However, the growth momentum of the market is expected to decelerate due
to a decline in the year-over-year growth.

This press release features multimedia. View the full release here:

Technavio has published a new market research report on the energy storage market in China from 2018-2022. (Graphic: Business Wire)

A key factor driving the growth of the market is the energy revolution.
China is one of the largest economies in the world. It is experiencing
high economic growth due to which the power needs of the country have
grown exponentially. The country is undergoing an energy revolution,
where millions of dollars are being invested to increase the share of
renewable energy in meeting its growing energy needs. China has become
the largest wind and solar energy producer in the world due to the
aggressive renewable energy targets.

This market research report on the energy
storage market in China 2018-2022 also provides an analysis of
the most important trends expected to impact the market outlook during
the forecast period. Technavio classifies an emerging trend as a major
factor that has the potential to significantly impact the market and
contribute to its growth or decline.

This report is available at a USD 1,000 discount for a limited time
only: View
market snapshot before purchasing

In this report, Technavio highlights the decline in Li-ion battery price
as one of the key emerging trends in the energy storage market in China:

Energy storage market in China: Decline in
Li-ion battery price

The market for Li-ion batteries has been gaining traction and is
witnessing rapid growth. This led to a decline in the demand for
lead-acid batteries. The main factor that differentiates Li-ion
batteries from lead-acid batteries is their price. Li-ion batteries cost
more than lead-acid batteries. However, leading manufacturers of Li-ion
batteries are working on technological advances and are trying to reduce
the price of Li-ion batteries.

“The prices of Li-ion batteries are expected to reduce further during
the forecast period. Also, companies are developing Li-ion batteries by
keeping specific industrial and utility applications in mind. The
declining prices of Li-ion battery will have a favorable impact on the
market, increasing its utilization in the energy storage applications,” says
a senior analyst at Technavio for research on human machine interface.

Energy storage market in China: Segmentation

This market research report segments the energy storage market in China
by application (behind the meter and grid integration).

Behind the meter segment held the largest market share in 2017,
accounting for nearly 54% of the market. This application segment is
expected to dominate the global market throughout the forecast period.

Looking for more information on this market? Request
a free sample report

Technavio’s sample reports are free of charge and contain multiple
sections of the report such as the market size and forecast, drivers,
challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

Market Sizing

Five Forces Analysis

Market Segmentation

Geographical Segmentation

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

About Technavio

is a leading global technology research and advisory company. Their
research and analysis focuses on emerging market trends and provides
actionable insights to help businesses identify market opportunities and
develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists
of more than 10,000 reports and counting, covering 800 technologies,
spanning across 50 countries. Their client base consists of enterprises
of all sizes, including more than 100 Fortune 500 companies. This
growing client base relies on Technavio’s comprehensive coverage,
extensive research, and actionable market insights to identify
opportunities in existing and potential markets and assess their
competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team

View source version on

Leave a Comment

Your email address will not be published. Required fields are marked *