China Energy Storage Systems Market Size & Outlook
China energy storage systems market, 2018-2030 (US$M)
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China energy storage systems market highlights
- The China energy storage systems market generated a revenue of USD 41,907.2 million in 2022 and is expected to reach USD 101,317.9 million by 2030.
- The China market is expected to grow at a CAGR of 11.7% from 2023 to 2030.
- In terms of segment, pumped hydro was the largest revenue generating technology in 2022.
- Advanced is the most lucrative technology segment registering the fastest growth during the forecast period.
Energy storage systems market data book summary
| Market revenue in 2022 | USD 41,907.2 million |
| Market revenue in 2030 | USD 101,317.9 million |
| Growth rate | 11.7% (CAGR from 2022 to 2030) |
| Largest segment | Pumped hydro |
| Fastest growing segment | Advanced |
| Historical data | 2018 - 2021 |
| Base year | 2022 |
| Forecast period | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Pumped Hydro, Advanced |
| Key market players worldwide | Altair Engineering Inc Class A, Ecolab Inc, Electrovaya Inc, GE Aerospace, Longfor Group Holdings Ltd, LG Chem, Safety Insurance Group Inc, Showa Paxxs Corp, Furukawa Battery Co Ltd, Fluence Energy Inc, Samsung SDI Co Ltd GDR - 144A |
Other key industry trends
- In terms of revenue, China accounted for 18.8% of the global energy storage systems market in 2022.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China energy storage systems market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 21,284.9 million by 2030.
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Energy Storage Systems Market Scope
Energy Storage Systems Market Companies
| Name | Profile | # Employees | HQ | Website |
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China energy storage systems market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to energy storage systems market will help companies and investors design strategic landscapes.
Pumped hydro was the largest segment with a revenue share of 99.76% in 2022. Horizon Databook has segmented the China energy storage systems market based on pumped hydro, advanced covering the revenue growth of each sub-segment from 2018 to 2030.
Chinese government has been actively investing in the energy storage sector. They have also opened channels for foreign investment in the country, which is expected to further propel the energy storage & distribution market in the region. Further, Chinese government has taken serious measures to promote buildings energy efficiency across the country.
The solar PV and energy storage systems & power stations is slated to witness a steady growth in the near storage. China’s 13th Five-Year Plan, formulated in February 2017, has suggested that the investments and research & development activity in the field of thermal energy storage will increase significantly, in order to achieve a future with clean energy and to subsequently reduce the region’s pressing issue of high pollution.
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Horizon Databook provides a detailed overview of country-level data and insights on the China energy storage systems market , including forecasts for subscribers. This country databook contains high-level insights into China energy storage systems market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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China energy storage systems market size, by technology, 2018-2030 (US$M)
China Energy Storage Systems Market Outlook Share, 2022 & 2030 (US$M)
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