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.
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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.
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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.
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
Company Profiles
- A123 Systems, LLC
- Automotive Energy Supply Corp.
- BYD Co. Ltd.
- Chaowei Power Holdings Ltd.
- Contemporary Amperex Technology Co., Ltd.
- KAYO Battery (Shenzhen) Co. Ltd.
- NGK Insulators Ltd.
- ProLogium Technology Co., Ltd.
- Saft Groupe SA
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