How big is China's battery energy storage capacity?

China is targeting installed battery energy storage capacity of 30GW by 2025 and grew its battery production for storage 146% last year.

How much energy will China generate by 2025?

China is aiming for 50% electricity generation from renewable power by 2025, up from 42% currently. 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.

Which countries dominate lithium-ion battery supply chain in 2025?

BNEF’s inaugural ‘Global Lithium-Ion Battery Supply Chain Ranking’ finds that by 2025, China continues to dominate the supply chain while the U.S. and Sweden rise to third and fourth respectively

How big will lithium-ion batteries be in 2022?

But a 2022 analysis by the McKinsey Battery Insights team projects that the entire lithium-ion (Li-ion) battery chain, from mining through recycling, could grow by over 30 percent annually from 2022 to 2030, when it would reach a value of more than $400 billion and a market size of 4.7 TWh. 1

Will China's Bess market take off in 2022?

In terms of BESS infrastructure and its development timeline, China’s BESS market really saw take off only recently, in 2022, when according to the National Energy Administration (China) and China Energy Storage Alliance (CNESA) data, new energy storage capacity reached 13.1GW, more than double the amount reached in 2021.

How many battery factories will be built in 2022?

In total, at least 120 to 150 new battery factories will need to be built between now and 2030 globally. In line with the surging demand for Li-ion batteries across industries, we project that revenues along the entire value chain will increase 5-fold, from about $85 billion in 2022 to over $400 billion in 2030 (Exhibit 2).