A brief overview of China's energy storage battery industry in 2022--IMPROVE BATTERY
October 28, 2022

A brief overview of China's energy storage battery industry in 2022

With the continuous expansion of downstream energy storage demand, the market scale of China’s energy storage battery industry will rise, and the market demand will continue to increase. It is estimated that the market scale will grow to 302.31 billion yuan in 2026.

Market status: The installed capacity of global lithium-ion battery energy storage technology is increasing year by year, accounting for an increasing proportion of the cumulative installed capacity of global energy storage. The demand for lithium-ion battery energy storage market is large. By 2021, the installed capacity of China’s lithium-ion battery is 5.2GW, accounting for 11.2%. The installed capacity and growth rate of global energy storage batteries are increasing year by year, and the global energy storage battery market is in great demand; The output of lithium battery for energy storage in China has increased, and the downstream demand is large. The production capacity will grow significantly after the epidemic situation stabilizes in 2022.

Industry chain: the upstream of the energy storage battery industry chain is dominated by lithium iron phosphate battery raw materials, of which lithium iron phosphate cathode materials and cathode materials account for 60%; The middle reaches are energy storage battery systems, with battery cells accounting for 70%; The downstream is the energy storage system, which is applied to the power side, power generation side, user side and other scenarios.

IMPROVE energy storage battery
IMPROVE energy storage battery

Development trend: Renewable energy power generation is characterized by intermittency, volatility and randomness. Under the dual carbon background, China’s photovoltaic and wind power markets have developed rapidly, driving the expansion of energy storage demand on the power side. The number of 5G base stations in China is increasing year by year, and the market demand is large; Compared with 4G base stations, 5G base stations have higher requirements for energy density of energy storage batteries, and are more suitable for using lithium iron phosphate batteries. The development of 5G base stations will drive the demand for energy storage lithium iron phosphate batteries.

As an advanced energy storage battery manufacturer, Improve Battery Co., Ltd provides reliable 19" rackable lifepo4 battery worldwide, which can meet different needs for energy capacity and life cycle in industrial applicatin.