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China Energy Storage Market Size
- Report ID: GMI2991
- Published Date: Dec 2024
- Report Format: PDF
China Energy Storage Market Size
China energy storage market was assessed at USD 144.9 billion in 2024 and is envisioned to witness a CAGR of 18.9% between 2025 and 2034.
China’s energy storage market is expanding rapidly, driven by the country’s aggressive push for renewable energy and carbon neutrality. With a growing share of wind and solar power, the need for efficient storage solutions to manage intermittency is becoming critical. Government policies, including subsidies and incentives, are accelerating the deployment of storage technologies across various sectors, including utility-scale, residential, and commercial applications. By 2034, China is projected to be a global leader in energy storage capacity, with electrochemical batteries, especially lithium-ion, expected to dominate the market.
| Report Attribute | Details |
|---|---|
| Base Year: | 2024 |
| China Energy Storage Market Size in 2024: | USD 144.9 Billion |
| Forecast Period: | 2025 to 2034 |
| Forecast Period 2025 to 2034 CAGR: | 18.9% |
| 2034 Value Projection: | USD 869.8 Billion |
| Historical Data for: | 2021 – 2024 |
| No. of Pages: | 80 |
| Tables, Charts & Figures: | 20 |
| Segments covered: | Technology and Application |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Technological innovation is a key factor in China's energy storage growth. Lithium-ion batteries, known for their high efficiency and cost-effectiveness, are the dominant technology in the market. However, China is also investing heavily in the development of next-generation storage technologies such as solid-state batteries, flow batteries, and sodium-ion batteries. These innovations are aimed at improving energy density, cycle life, and safety.
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China Energy Storage Market Scope
