中信证券：用户侧储能市场中，户储传统市场历经深度洗牌，市场逐步回暖且格局集中

Core Insights - The user-side energy storage market is experiencing a recovery after a deep reshuffle, with a more concentrated market structure and a return to steady growth in global installations [1] - The industrial storage sector is benefiting from increased policy support across countries, decreasing system costs, and a maturing business model that is becoming highly profitable, indicating a potential high growth phase from 1 to 10 [1] - It is recommended to focus on high-quality niche leaders that possess market first-mover advantages, comprehensive product systems, and efficient execution capabilities [1]