New energy storage becomes a pillar of new energy, with China, Europe, and the United States dominating the global market.

2024-12-18
New energy storage becomes a pillar of new energy, with China, Europe, and the United States dominating the global market.
In recent years, the global energy storage industry has experienced rapid development, especially in China, where energy storage technology has become a crucial pillar of the new energy sector, playing a vital strategic role in stabilizing the power grid and improving energy efficiency. Data shows that the installed capacity of new energy storage has already achieved the 30 million kilowatt target set in the national "14th Five-Year Plan" two years ahead of schedule, fully demonstrating the irreplaceable role of energy storage in achieving dual-carbon goals. However, with the rapid development of the industry, the importance of new energy storage technologies is becoming increasingly prominent. Compared with traditional energy storage, new energy storage has advantages such as higher energy density, faster charging and discharging speeds, and lower maintenance costs. At the same time, the market has also exposed problems such as disorderly competition, fierce price wars, and supply-demand imbalances, urgently requiring industry standardization and integration. Furthermore, the safe operation of energy storage equipment, especially the prevention of accidents such as fires and explosions, has become a pressing safety technology challenge for the industry.


Global new energy storage installed capacity is expected to reach a record high in 2023, with new installed capacity potentially reaching 42GW/99GWh, representing year-on-year growth of 163%/183%. Subsequently, it is projected to grow at a CAGR of 27% until 2030, with annual new installed capacity reaching 110GW/372GWh in 2030, 2.6 times the projected figure for 2023.


From a regional market perspective, the global energy storage market in 2023 remained dominated by China, North America, and Europe. Demand for energy storage batteries in the Chinese market remained strong, accounting for a significant share of the global market. Meanwhile, the North American and European markets also demonstrated robust demand for energy storage batteries. The continued development of these regional markets and their emphasis on renewable energy are driving the growth of the global energy storage market.

Next page:Already the last