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.
Browse the full report description China Battery Market Size, Share & Trends Analysis Report, By Category (Primary and Secondary), By Type (Li-Ion, Ni-MH, Nickel Cadmium, Lead Acid, and Others), By Application (Automotive, Industrial, Consumer Electronics, Power & Energy, and Others), and Forecast 2019-2025 at https://www.omrglobal.com/industry-reports/china-battery-market
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.
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.
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