In order to deeply interpret the development status of the energy storage industry and judge the future trend, Zhiyan Consulting has carefully compiled and launched the "2024-2030 China Energy Storage Industry Market Survey and Future Prospect Forecast Report" (hereinafter referred to as the "Report"). This report is not only a comprehensive and detailed review of China's energy storage market, but also the crystallization of Zhiyan Consulting's continuous tracking, on-site visits, in-depth research and accurate analysis over the years. It aims to help industry elites and investors grasp the pulse of the market more accurately, gain insight into industry trends, and provide strong support for future decision-making.
The report mainly studies the development of China's energy storage industry, and the market segments include pumped storage, electrochemical energy storage, and other energy storage, involving the cumulative installed capacity, new installed capacity, and market size of energy storage and segmented energy storage markets.
The report analyzes the development of the energy storage industry in an all-round way from the aspects of domestic and foreign development environment, domestic market segments, upstream and downstream industrial chains, and development trends, and provides corresponding suggestions and decision-making support for industry manufacturers to grasp industrial dynamics and future innovation trends.
Energy storage is a technology that stores different forms of energy in different ways through specific devices or physical mediums so that it can be used later when needed.
From the perspective of the structure of energy storage medium and energy storage device, energy storage technology can be divided into mechanical energy storage, electrical energy storage, electrochemical energy storage, thermal energy storage, chemical energy storage, etc. Among them, pumped storage and electrochemical energy storage are the two most widely used and more mature methods, and from the perspective of development prospects, chemical energy storage is expected to gain rapid development opportunities around 2030.
Energy storage technology is widely used to improve the matching degree of grid output and load, reduce grid output fluctuations, reduce power loss, and improve energy efficiency. There are significant differences in the characteristics of various energy storage technologies, and the scope of application is also quite different: flywheel and supercapacitor energy storage are mainly used in precision manufacturing, communications, data centers and other industries that are sensitive to voltage fluctuations in industrial production; Pumped storage is mainly used in the transmission and distribution of large power grids; Chemical energy storage is more used in the power generation side of renewable energy with large fluctuations such as solar and wind power generation, small and medium-sized intelligent substations and power consumption side.
In recent years, with the continuous increase in the installed capacity and power generation of new energy in the mainland, energy storage projects have developed rapidly. In 2015, the cumulative installed capacity of domestic energy storage was about 23.21GW, and by 2023 it will reach 79.11GW, and the market size has also increased from 6.366 billion yuan in 2015 to 97.383 billion yuan in 2023.
The upstream of the energy storage industry chain is the supply of raw materials and core equipment such as energy storage batteries, energy storage converters (PCS), battery management systems (BMS), energy management systems (EMS), air compressors, heat exchangers, and hydrogen production; Midstream includes electrochemical energy storage, compressed air energy storage, flywheel energy storage, supercapacitors, hydrogen storage, thermal energy storage, etc.; The downstream is the application of energy storage system, which is divided into power generation side, grid side, and user side. At present, many leading enterprises have opened up the whole industrial chain from energy storage battery manufacturing, system integration, operation services to resource recovery, forming an integrated layout around energy storage business.
Energy storage is divided into power generation side energy storage, grid side energy storage, and user side energy storage according to application scenarios.
Power generation side energy storage, also known as power supply side energy storage and power supply side energy storage, is mainly built in various thermal power plants, wind farms, photovoltaic power stations, and is a supporting facility used by various types of power plants to promote the safe and stable operation of the power system, mainly including traditional energy storage based on pumped storage and new energy storage represented by electrochemical energy storage.
Grid-side energy storage can also be called transmission and distribution side energy storage, which refers to the energy storage resources in the power system that can accept the unified dispatch of power dispatching agencies, respond to the needs of power grid flexibility, and play an overall and systematic role. The applications mainly include power auxiliary services such as peak shaving, frequency modulation, and backup power supply, and innovative services such as independent energy storage, with the aim of maintaining the safety and stability of the power system and ensuring power quality.
User-side energy storage usually refers to the energy storage power stations built for the purpose of reducing the user's electricity cost and reducing the loss of power outage and power rationing in different user power consumption scenarios, including industrial and commercial energy storage, household energy storage, portable energy storage, etc. At present, the most important profit method of industrial and commercial energy storage in mainland China is the arbitrage of peak-to-valley electricity price difference, and user-side energy storage can help householders to save electricity costs by charging the grid at night when the grid is at a low point and discharging at the peak of electricity consumption during the day.
The competition pattern of the energy storage industry in China is currently highly fragmented, and there is a huge gap between the participants of various technical routes. In terms of electrochemical energy storage, the market concentration is not high, and the main participants in the market are energy storage equipment suppliers based on lithium-ion batteries, lead-acid batteries and flow batteries, and the domestic enterprises such as BYD, CATL, Nandu, and Shuangdeng are the mainstays. Since the "13th Five-Year Plan" period, the application of energy storage has developed in a diversified and multi-field manner, and some photovoltaic companies have also set their sights on energy storage, and some PCS manufacturers or traditional power equipment suppliers have also entered the market as energy storage system integrators, including Sunshine Energy Storage, Kelu Electronics, Nandu Power Supply, Shuangdeng Group, Xinwangda and Zhongtian Technology.
Compressed air energy storage technology has attracted much attention from the industry as the energy storage technology with the largest capacity and the most mature technology in addition to pumped storage. Domestic compressed air energy storage is accelerating into the stage of commercial application. Among them, the main technology providers are China National Energy Reserve under the Institute of Thermophysics of the Chinese Academy of Sciences, Tsinghua University and other universities; The participating enterprises in the construction of the project include China Energy Construction, China Power Construction and other construction units. As a leading enterprise, China National Energy Storage has a full set of capabilities in the R&D and design of 100-megawatt advanced compressed air energy storage systems, core equipment manufacturing, engineering implementation, and power station investment and operation. According to its official website, by the end of 2023, China National Energy Storage Corporation has completed the first 100MW advanced compressed air energy storage national demonstration project in Zhangjiakou International, and the projects that have started construction cover Shandong, Henan, Ningxia, Xinjiang and other places, with a total scale of 1,500MW, and more than 4,000MW of projects have been included in the planning.
The research team of Zhiyan Consulting conducted an in-depth analysis of the scale, industrial structure, key enterprises, and industrial development trends of China's energy storage industry, and put forward suggestions for the problems existing in the development of the energy storage industry, providing reference for local governments, industrial chain enterprises, and investment institutions.
Data Description:
1: The core data of this report has been updated to December 2023 (the relevant financial indicators of non-listed companies in the report are affected by corporate credit approval, and there may be a certain lag), and the forecast period of the report is 2024-2030.
2: In addition to the first-hand research information and data, authoritative data sources such as the National Bureau of Statistics, China Customs, industry associations, and public reports of listed companies (prospectuses, transfer prospectuses, annual reports, inquiry reports, etc.) also constitute the data sources of this report. The first-hand data comes from the first-hand information data obtained by the research team from interviews with key enterprises in the industry, and the main interview subjects include corporate executives, industry experts, technical leaders, downstream customers, distributors, agents, distributors and upstream raw material suppliers. Secondary sources mainly include relevant industry news, company annual reports, non-profit organizations, industry associations, government agencies and third-party databases from around the world.
3: The core data of the report is based on the strict data collection, screening, processing, analysis system and independent calculation model of the Zhiyan team to ensure the accuracy and reliability of statistical data.
4: The data used in this report are all from compliance channels, and the analysis logic is based on the professional understanding of the Zhiyan team, which clearly and accurately reflects the research views of analysts.
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