24潮·2025-11-30 23:04Core Insights - Energy storage technology is essential in the clean energy transformation era, with China leading the global market, holding over 40% of the new energy storage capacity [2][13][22] - The rapid development of energy storage is driven by cost reduction in the supply chain and the "dual carbon" strategy, with significant overseas orders signed by Chinese companies [2][4] - The energy storage market is transitioning from policy-driven to market-driven following the removal of mandatory storage requirements, indicating a shift in dynamics [17][54] Policy and Market Dynamics - The 2015 policy framework initiated a series of reforms aimed at enhancing energy storage and smart grid construction, setting the stage for market growth [4][5] - The introduction of competitive pricing and the opening of the electricity market to private capital have created opportunities for energy storage applications [4][6] - The energy storage sector is expected to benefit from the ongoing energy transition and the increasing demand for renewable energy integration [16][43] Industry Growth and Statistics - By the end of 2024, China's new energy storage capacity reached 73.76 million kW, significantly exceeding the 30 million kW target set for 2025 [13] - Global new energy storage installations are projected to exceed 100 GW by the end of 2024, with a growth rate of 81.1% [10] - The global energy storage system shipment volume reached 286.35 GWh in the first three quarters of 2025, marking an 84.7% year-on-year increase [42] Technological Advancements - The shift from traditional pumped storage to lithium battery storage has accelerated due to cost reductions and technological advancements [10][23] - Chinese companies dominate the energy storage battery and inverter markets, with significant market shares and technological capabilities [26][31] - The integration of energy management systems (EMS) with core components like batteries and inverters enhances the competitiveness of Chinese firms [31][40] Global Market Trends - The global energy storage market is experiencing a surge driven by the need for reliable power supply and the integration of renewable energy sources [43][44] - Emerging markets in the Middle East, Southeast Asia, and Africa are witnessing rapid growth in energy storage demand due to energy supply challenges [43] - The increasing energy demands from AI data centers are expected to drive substantial growth in energy storage requirements, with projections indicating a need for 300 GWh by 2030 [44][45] Competitive Landscape - Chinese companies are expected to maintain a leading position in the global energy storage market, with significant advancements in technology and production capacity [22][28] - The competitive landscape is intensifying, with price wars emerging as companies expand internationally, potentially impacting profitability [54][57] - Regulatory challenges and trade barriers in key markets like the U.S. and EU may pose risks to Chinese firms seeking to expand their global footprint [59][61]