Zhong Guo Neng Yuan Wang·2025-12-25 02:20Core Insights - The cancellation of mandatory energy storage requirements has not hindered the growth momentum of the energy storage industry, with significant market expansion observed in both domestic and international markets in the second half of the year [1][2] - Energy storage is increasingly recognized for its economic value and importance in renewable energy consumption, with a notable rise in its share within the lithium battery market [1] Market Growth - The global lithium battery production reached 2058.44 GWh in the first 11 months of the year, marking a year-on-year increase of 48.59%, while the cumulative production of energy storage batteries was 535.98 GWh, up 64.14% year-on-year [1] - The energy storage battery's share of total lithium battery production exceeded 25% in the first half of the year and increased to 26% over the first 11 months, with November alone reaching 28% [1] - The expected installed capacity of lithium energy storage in China for 2025 is projected to reach 157 GWh, representing an 82.9% year-on-year growth [1] Regional Insights - China, Europe, and the United States account for approximately 90% of the energy storage market, with China holding a market share of 50%-60% [2] - The European market is expected to see a significant growth rate of 92%, with an anticipated addition of 48 GWh of installed capacity [2] - The U.S. market has experienced a slowdown in growth due to tariff fluctuations and lengthy project approval times, while the Middle East is emerging as a rapidly growing market driven by energy transition and decarbonization demands [3] Supply Chain Dynamics - In the first three quarters of 2025, global energy storage cell shipments reached 410.45 GWh, a year-on-year increase of 98.5%, with the third quarter setting a new record for quarterly shipments at 170.24 GWh [3] - Chinese companies dominate the global energy storage cell market, with the top ten companies holding a market share of 89.9% [4][5] Future Projections - The global energy storage battery shipment is expected to reach 746 GWh in 2026, with a year-on-year growth rate of 39% [5] - The global energy storage market is projected to have significant growth potential, with estimates suggesting that the peak annual installed capacity could exceed 1.5 TWh by 2035, indicating an 8.6 times growth potential from current levels [5] International Expansion - Chinese companies are increasingly expanding into overseas markets, with significant growth in international revenue observed, particularly for companies like CATL [6] - The overseas energy storage market is characterized by higher marketization levels and greater profit margins due to more pronounced peak-valley price differences [6] - As of October 2025, 47 Chinese companies have signed or completed overseas strategic collaborations and projects totaling approximately 69 GWh [6] Pricing Trends - The rising prices of energy storage cells reflect strong downstream demand, with major lithium battery material companies operating at full capacity [7] - Long-term contract negotiations for 2026 have already been completed, with price increases of 0.02-0.04 CNY per watt-hour compared to 2025 levels [7]