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China Energy Storage Market Share

Report ID: GMI2991
Published Date: May 2023
Report Format: PDF

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China Energy Storage Market Share

Some of the major players operating in the China energy storage market are:

General Electric
Exide Technologies
BYD Company Ltd
Toshiba Corporation
Durapower Group
Samsung SDI Co Ltd
Panasonic Corporation
LG Energy Solution
Narada Power Source Co. Ltd
Siemens
SCHMID Group
ABB
Hitachi Energy Ltd
Johnson Controls
Sinohydro Corporation
McDermott
Burns & McDonnell
Voith GmbH & Co. KGaA

To expand their market share, these companies are focusing on mergers and strategic partnerships. Also, they are investing significantly in research and development activities, which allows them to introduce innovative services and generate maximum revenue in the market.

Authors: Ankit Gupta

Frequently Asked Questions (FAQ) :

The market size of China energy storage surpassed USD 93.9 billion in 2022 and will progress at 18.9% CAGR during 2023 to 2032 propelled by fluctuations in energy consumption patterns caused by extreme peak load demand as well as increasing measures to electrify rural areas.

China energy storage industry size from the electro-chemical segment surpassed USD 13 billion in 2022 as a result of increasing demand for grid stability and electricity, coupled with favorable government measures in the country.

Renewable capacity firming applications accounted for a industry share of more than 8% in 2022 owing to growing concern for environmental pollution and efforts to mitigate the anthropogenic causes of global warming.

China held over 21% of the energy storage systems sector in 2022 due to growing consumer awareness and decreasing technology costs, along with the expansion of manufacturing and industrial base in the country.

General Electric, Exide Technologies, BYD Company Ltd., Toshiba Corporation, Durapower Group, Samsung SDI Co., Ltd, Panasonic Corporation, LG Energy Solution, Narada Power Source Co. Ltd , Siemens, SCHMID Group, ABB, Hitachi Energy Ltd and others.