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China Energy Storage Market Growth Analysis 2019 | Eminent Players - A123 Systems, BYD, Hitachi Chemical Advanced Therapeutics Solutions, LLC, Panasonic, Sungrow Power Supply, Dynavolt Renewable Energy, Exide Technologies, Sunwoda Electronics Corp, LG Che

02-08-2019 05:54 AM CET | Energy & Environment

Press release from: Global Market Insights, Inc.

China Energy Storage Market

China Energy Storage Market

According to the research report by Global Market Insights, Inc., the China Energy Storage Market is anticipated to surpass USD 6 billion by 2024. Rising concerns toward effects of global warming has led to the significant addition of renewables across the electric grid, which will drive the China energy storage market. Additionally, growing adoption of energy storage systems to mitigate the volatility of renewable power generation in the energy mix will further complement the industry landscape.

China energy storage market is set to witness strong growth subject to ongoing investments toward development of smart-grid infrastructure along with upsurge across the ancillary service industry. In 2016, the Government of China announced an investment of over USD 70 billion toward smart grid infrastructure development throughout the decade. The withdrawal of renewable subsidies may hamper the industry growth; however, reducing technology costs is set to compensate for the subsidy losses.

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China lithium ion energy storage market will witness growth on account of perpetual decline in technology costs driven by the growing economies of scale for the manufacturers. The key application areas for these batteries include residential solar energy storage, frequency regulation, E-V charging stations, and load shifting among others. Significant coulombic efficiency, low maintenance, and high energy density are some of the key features that will propel the product adoption over its available alternatives.

China Energy Storage Market, By Deployment
• Behind the meters
• Renewable integration
• Ancillary services

China flow vanadium energy storage market is predicted to surpass USD 3 billion by 2024. Rapid response time, long scale duration and ability to provide virtually unlimited storage capacity are some of the major characteristics of the technology which makes it suitable for renewable integration and other large-scale energy storage applications.

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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

2. Shoto
3. Exide Technologies
4. Sacred Sun
5. CLOU Electronics
6. Sunwoda
7. A123 Systems
8. Eastar
9. LG Chem
10. Hitachi Chemical
11. Panasonic Corporation
12. BYD
13. GS Yuasa
14. Shenzhen BAK Technology
15. ZTT
16. Hoppecke
17. Dynavolt

Moreover, the enormous vanadium reserves in the country implies ease of availability, lower prices, and minimal currency risks to the manufacturers, which will fuel the business growth.

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China ancillary services energy storage market is anticipated to witness robust growth in line with growing requirement for grid resilience primarily driven by incessant substitution of conventional energy with renewable energy. Furthermore, reformative legislative landscape in favor of the nationwide development of ancillary services industry, particularly through the ?Three North Region? Will boost the business growth.

Rising penetration of intermittent energy especially from solar and wind into the national grid will raise the requirement for energy storage system integration to ensure grid stability, which in turn will complement China energy storage market outlook.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us:

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688

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