With the acceleration of global energy transformation, energy storage has become a new focus in the energy field. Especially in the context of the gradual increase in the penetration rate of renewable energy, energy storage technology has become an important means to balance supply and demand fluctuations and ensure the stability of the power grid. In the medium and long term, the scale growth of global energy storage systems is expected to be driven by the renewable energy targets of various countries, and the energy storage market has broad prospects for development.
It is predicted that by 2025, the scale of global energy storage systems will reach about 221GWh, a year-on-year increase of 36%, with an average energy storage duration of about 2.6 hours. With the rapid growth of global wind power and photovoltaic equipment capacity and the advancement of power reform, the price of solar energy storage systems is gradually falling, and the clarification of top-level policies has provided strong guarantees for the accelerated development of the energy storage industry.
Looking back over the past few years, the growth of global energy storage systems has been very rapid.From 2020 to 2023, the global new energy storage system capacity will grow rapidly from 11.3GWh to 110GWh, with an average annual compound growth rate of 113%. This growth shows a strong upward momentum in the global energy storage market. However, between 2024 and 2025, although the scale of energy storage systems will continue to maintain a high growth rate, the CAGR will slow down significantly to 27%. Despite this, the energy storage industry will still play a vital role in the global energy transformation.
Regional market distribution and development
Globally, the distribution of energy storage systems shows a pattern of three major dominant markets: China, Europe and the United States. With the gradual implementation of energy policies in various countries, energy storage technology is gradually moving from the laboratory stage to the industrialization stage. The new energy storage equipment capacity in the Chinese, American and European markets is expected to account for 85% of the global total, continuing to lead the growth of global energy storage demand.
In China, the energy storage market is strongly supported by policies. With the acceleration of large-scale energy storage deployment, the demand for industrial and commercial solar energy storage systems has increased significantly. It is estimated that by 2025, the scale of China’s new energy storage systems will reach 110GWh. In addition, under the guidance of policies, China’s energy storage market has also shown an expansion trend from grid-level energy storage to distributed energy storage.
In the United States, the growth of the energy storage market is mainly concentrated in the construction of large-scale energy storage systems. It is estimated that by 2025, the United States will add 44GWh of energy storage systems, of which large energy storage systems will still dominate, driving the US market to continue to maintain strong growth momentum.
The scale of energy storage systems in the European market is also growing steadily, and it is expected that the capacity of new energy storage systems will reach 26GWh to 37GWh by 2025. Although some regions have gradually cancelled subsidies for household energy storage, resulting in a decrease in the installation of household energy storage systems, large-scale energy storage projects are expected to usher in explosive growth and become an important part of the energy storage market.
In the context of global energy transformation, energy storage technology has become a key link in the energy system. Whether in the grid-connected consumption of renewable energy such as wind power and photovoltaic power, or in the flexible dispatch of the power market, energy storage will play an increasingly important role, providing energy storage solutions for the world to achieve low-carbon, efficient and safe energy supply.