China''s Advanced Energy Storage Market to Quadruple to $8.7 Billion in 2025
Transport Applications Will Take an 85% Share, or $7.4 Billion, as Pollution and Policy Drive the Market for Electric Vehicles, Lux Research Says
(firmenpresse) - BOSTON, MA -- (Marketwired) -- 06/11/15 -- Driven by environmental problems, a growing auto industry, and a big policy push, China''s advanced energy storage market will be worth $8.7 billion in 2025, more than quadrupling from the current $1.7 billion, according to .
Transport applications will dominate with $7.4 billion, or 85% share of the revenues. Stationary applications will earn $1.3 billion. Overall, revenues will grow slower than volumes on account of continually falling battery and systems prices.
"Besides understanding the market dynamics and producing cost-competitive products, most players in these markets will require strong partnerships to succeed," said Lilia Xie, Lux Research Associate and lead author of the report titled, "."
"Early leaders such as BYD will try their best to hold onto their positions but the diversification of the market will gradually create promising opportunities for those who operate with patience and savvy," she added.
Lux Research analysts studied China''s growing energy storage market in the backdrop of drivers such as environmental pollution, the push toward renewables, and government incentives. Among their findings:
Total demand for energy storage will grow to 31 GWh per year in 2025, with transportation again the dominant player. Transportation''s share of the market will grow to 29 GWh; the stationary market, at 2.3 GWh, is smaller but grows at a faster 30% CAGR.
After a spike in sales of new energy vehicles (NEV) in 2014, China will settle to a more leisurely pace of growth, mainly on account of inadequate charging infrastructure. Still, the market will grow at a 19% CAGR, reaching 500,000 units in 2025, across passenger and heavy vehicles.
Growth in China''s stationary storage will follow from an aggressive deployment of renewables. China leads the world in installed capacity of renewables, with plans for much more. In addition, preliminary policy developments suggest the electricity sector will implement pricing reforms, encouraging efficiency-boosting technologies including grid storage.
The report, titled "Clearing the Haze: Demystifying Energy Storage Opportunities in China," is part of the Lux Research service.
Lux Research provides strategic advice and ongoing intelligence for emerging technologies. Leaders in business, finance and government rely on us to help them make informed strategic decisions. Through our unique research approach focused on primary research and our extensive global network, we deliver insight, connections and competitive advantage to our clients. Visit for more information.
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Datum: 11.06.2015 - 05:30 Uhr
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