Latest forecast of china s energy storage battery shipments

Are China's EV batteries outpacing EV market growth?

Major Chinese battery producers report significant increases in ESS battery deliveries, outpacing growth in the EV battery sector amid slowing EV market growth.

Are ESS Batteries growing in China?

China’s leading battery makers, including EVE, have reported substantial growth in ESS battery deliveries this year. According to its quarterly report, EVE delivered 14.8 GWh of ESS batteries in Q3 2024, marking a 95% increase from 7.58 GWh in the same quarter last year.

How big is China's ESS battery capacity?

By the end of 2023, China’s ESS capacity reached 86 gigawatts (GW), with pumped hydro storage accounting for over 59% and battery storage nearing 40%, according to data from the China Energy Storage Alliance (CNESA). China’s leading battery makers, including EVE, have reported substantial growth in ESS battery deliveries this year.

How big is China's Lithium battery shipments?

According to the latest data from Shenzhen-based research institute GGII, China’s lithium battery shipments totaled 786 gigawatt-hours (GWh) in the first three quarters of 2024, up from 605 GWh in the same period in 2023.

How many GWh of batteries are shipped in 2024?

Shipments of ESS batteries reached 216 GWh in the first three quarters of 2024, marking a 70% increase from the 127 GWh shipped during the same period in 2023. In comparison, shipments of power batteries for EVs totaled 533 GWh, up by 20% from 445 GWh in the same period in 2023.

Why are energy storage systems important in China?

China’s push for advanced power systems is boosting interest in energy storage system (ESS) batteries, valued for quicker production time and greater practicality over wind, solar, and hydro sources.