China Dominates Battery Storage Market with 90% Control in the US
China has increased its energy storage capacity to approximately 155 gigawatts, up from under 4 gigawatts five years ago. This growth positions China as a leader in battery technology and storage solutions, crucial for transitioning to renewable energy sources.
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In the first quarter of this year, China reached about 155 gigawatts of energy storage capacity, with a target of 300 gigawatts by 2030. The country currently controls 90% of the global battery cell market, while the US has 57 gigawatts installed, projected to reach 200 gigawatts by 2028.
China's dominance in battery manufacturing is attributed to its focus on lithium iron phosphate batteries, suitable for energy storage. The US is making efforts to reduce reliance on Chinese supply chains, implementing tariffs and legislative measures. Brazil is preparing its first battery storage auction, aiming to enhance its renewable energy integration, with significant local mineral reserves yet limited processing capabilities.
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