China’s share of the lithium-ion battery cell production capacity market is set to fall from 75% in 2020 to 66% in 2030, according to Clean Energy Associates in a new report.
China is targeting a non-hydro energy storage installed capacity of 30GW by 2025 and grew its battery production output for energy storage by 146% last year, state media has said.
Energy storage could garner a market share of one-third by 2025 for the new, pan-European automatic frequency restoration reserve (aFRR) market, which is set to launch in the middle of this year with France and Germany mutualising capacity first.