Energy storage industry chain: annual compound growth rate of 61%

The global energy storage market is growing rapidly, and China's new installed capacity ranks first. As the proportion of renewable energy generation increases, problems such as absorption, transmission and distribution, and fluctuations appear, and the rigid demand for energy storage gradually appears. In 2020, the world's new energy storage 5.3GW/10.7GWh, +57% year-on-year, mainly due to the explosion of China (1.2GW/2.3GWh, +168% year-on-year) and the United States (1.1GW/2.6GWh, +207% year-on-year) energy storage market. The world's cumulative installed capacity is 16.5GW/33.1GWh.

The application scenarios are rich, and the development space of energy storage is broad. According to the application scenario, energy storage can be divided into a variety of uses such as power generation side (renewable energy grid connection, reduce light and wind abandonment), power grid side (power peak regulation, frequency regulation), user side (spontaneous self-use, peak valley spread arbitrage), auxiliary services (5G base station backup, IDC) and so on.

According to the needs of each link of the adaptive power system, the application type and discharge demand of the corresponding energy storage are also different. Soochow securities judge, 2021-2026 global energy storage market is expected to be associated with energy transformation and the downstream demand for electricity construction rhythm, release 20.1/32.7 respectively 93.2 GW / 52.5/65.3 / energy storage construction requirements, Comprehensive for electric capacity requirements under the long expected GWh 235.7/108.1/158.8/38.8/68.5, respectively, are expected to drive the main storage technology and related industrial chain purchasing requisition usher in explosive growth.

By 2030, we will realize the comprehensive market-oriented development of new energy storage. The new energy storage core technology and equipment are independent and controllable, technological innovation and industrial level rank in the forefront of the world, the standard system, market mechanism, and business model are mature and sound, deeply integrated with all aspects of the power system, and the installed capacity basically meets the corresponding needs of the new power system. New energy storage has become one of the key supports for carbon peak carbon neutrality in the energy field. Under the continuous increase of support policies, the compound growth rate of new energy storage installed capacity in 2025 has exceeded 61% in the past five years.