China Grid-scale Battery Storage Market Size & Outlook
China grid-scale battery storage market, 2017-2028 (US$M)
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China grid-scale battery storage market highlights
- The China grid-scale battery storage market generated a revenue of USD 975.9 million in 2020 and is expected to reach USD 4,928.1 million by 2028.
- The China market is expected to grow at a CAGR of 22.4% from 2021 to 2028.
- In terms of segment, lithium-based was the largest revenue generating type in 2020.
- Lithium-Based is the most lucrative type segment registering the fastest growth during the forecast period.
Grid-scale battery storage market data book summary
| Market revenue in 2020 | USD 975.9 million |
| Market revenue in 2028 | USD 4,928.1 million |
| Growth rate | 22.4% (CAGR from 2020 to 2028) |
| Largest segment | Lithium-based |
| Fastest growing segment | Lithium-Based |
| Historical data | 2017 - 2019 |
| Base year | 2020 |
| Forecast period | 2021 - 2028 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Lead-Acid, Lithium-Based |
| Key market players worldwide | BYD Co Ltd ADR, Sumitomo Corp, Samsung Electronics Co Ltd, NGK Insulators Ltd, GE Aerospace, GS Yuasa Corp, LG Chem, Mitsubishi Electric Corp, Panasonic Holdings Corp, ABB Ltd, Hitachi Ltd, Fluence Energy Inc |
Other key industry trends
- In terms of revenue, China accounted for 18.6% of the global grid-scale battery storage market in 2020.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2028.
- In Asia Pacific, China grid-scale battery storage market is projected to lead the regional market in terms of revenue in 2028.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 3,267.2 million by 2028.
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Grid-scale Battery Storage Market Scope
Grid-scale Battery Storage Market Companies
| Name | Profile | # Employees | HQ | Website |
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China grid-scale battery storage 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 grid-scale battery storage market will help companies and investors design strategic landscapes.
Lithium-based was the largest segment with a revenue share of 84.01% in 2020. Horizon Databook has segmented the China grid-scale battery storage market based on lead-acid, lithium-based covering the revenue growth of each sub-segment from 2017 to 2028.
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Horizon Databook provides a detailed overview of country-level data and insights on the China grid-scale battery storage market , including forecasts for subscribers. This country databook contains high-level insights into China grid-scale battery storage market from 2017 to 2028, including revenue numbers, major trends, and company profiles.
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China grid-scale battery storage market size, by type, 2017-2028 (US$M)
China Grid-scale Battery Storage Market Outlook Share, 2020 & 2028 (US$M)
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