China Energy Storage Market is projected to reach USD 6bn by 2024: Global Market Insights Inc. The market research report, “China Energy Storage Market Size By Deployment (Behind The Meter, Renewable Integration, Ancillary Services), By Technology (Lead Acid, Lithium Ion, Flow Vanadium, Others), Industry Analysis Report, Application Potential, Price Trend, Competitive Market Share & Forecast, 2018– 2024� by Global Market Insights, Inc., China Energy Storage Market size is set to surpass USD 6 Billion by 2024. According to the latest research report China energy storage market size is set to witness robust growth on account of rapidly growing ancillary service industry coupled with ongoing investments toward smart-grid infrastructure development. Furthermore, rising deployment of energy storage devices aimed toward enhancing the grid stability as a countermeasure to the effects of extensive penetration of intermittent power from renewables will augment the industry size.
Declining technology costs in conjunction with development of new technologies and advancement of existing systems will positively influence China energy storage market size. Lithium ion batteries has witnessed a drop of over 50% in per unit cost in last few years and will continue to follow the trend. Reformative business scenario along with improving economies of scale across battery manufacturing industry will further stimulate the industry size. China Energy Storage Market
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