The global market demand for small and medium-sized industrial and commercial energy storage over the next five years Global Market Trends-
Rapid Growth in Installed Capacity:
In 2024, the global energy storage market is expected to add 163 GWh of new installed capacity, a year-on-year increase of 43%. By 2025, the global energy storage market is projected to reach 221 GWh of new installed capacity, a 36% year-on-year growth. By 2030, the global demand for energy storage is expected to exceed 900 GWh.-
Emerging Markets on the Rise:
Strong growth in energy storage demand is observed in emerging markets such as the Middle East, Africa, Southeast Asia, and South Asia. By 2025, the Middle East is expected to become the fourth-largest region for new energy storage installations globally. Saudi Arabia has planned several large-scale energy storage projects, which are expected to be a stable growth driver. Countries like Egypt and Nigeria are also showing strong growth momentum in their energy storage markets.-
Technological Innovation Driving Cost Reductions:
With continuous advancements in energy storage technology, the cost of energy storage systems is gradually decreasing, making industrial and commercial energy storage more economically viable and further driving market demand growth. Regional Market Analysis
China Market
Policy Support:
Various provinces in China have introduced “new energy + energy storage” policy targets, specifying the proportion and duration of energy storage required for photovoltaic and wind power installations. This has spurred the development of industrial and commercial energy storage. As power market reforms deepen, industrial and commercial enterprises are increasingly adopting energy storage to meet their production electricity needs, and diversified business models are expected to drive rapid growth in user-side energy storage demand.-
Market Growth:
From 2024 to 2025, China’s industrial and commercial energy storage market will maintain rapid growth, with domestic grid-side and generation-side installations expected to exceed 110 GWh by 2025. Regions like Inner Mongolia, Shandong, Jiangsu, Xinjiang, and Gansu are leading in installations.-
Improved Economic Viability:
In 2023, the decline in lithium battery industry chain prices led to lower energy storage system costs, significantly improving the economic viability of industrial and commercial energy storage.