The China battery market is estimated to grow at a significant CAGR during the forecast period. The growing renewable energy industry tends to create the demand for renewable energy batteries and hence drive the regional growth of the market.
China has made substantial progress in scaling up renewable power as well as reducing the cost of renewable energy in the past 20 years. As a result of this, China has fulfilled the 13th Five?Year Plan targets ahead of time. Wind and solar PV have gradually entered the post?subsidy era. In 2018, the government promoted the consumption of renewable energy by setting mandatory caps on curtailment and minimum consumption targets.
A full report of China Battery Market is available at https://www.omrglobal.com/industry-reports/china-battery-market
Batteries, especially lithium-ion batteries, are used for storing energy have become a key partner of photovoltaic solar, wind, and hybrid power plants, especially in areas not connected to a strong grid. The need for storage has increased significantly with the growing use of renewable sources.
Market Coverage
- Market number available for – 2018-2025
- Base year- 2018
- Forecast period- 2019-2025
- Segment Covered- By Category, By Type, and By Application
- Regions Covered- China
- Competitive Landscape- A123 Systems LLC, BYD Co. Ltd., Contemporary Amperex Technology Co., Ltd., and Saft Group SA
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Key Questions Addressed by the Report
- What is the market growth rate?
- Which segment dominates the market in the base year?
- Which segment will project the fastest growth in the market?
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
China Battery Market- Segmentation
By Category
- Primary
- Secondary
By Type
- Lithium-Ion
- Nickel-Metal Hydride (NI-MH)
- Nickel Cadmium
- Lead Acid
- Others
By Application
- Automotive
- Industrial
- Consumer Electronics
- Power & Energy
- Others
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