Report on Global Energy Storage Market Demand

In 2023, a dramatic decline in lithium mine prices precipitated a notable reduction in energy storage system costs. This, in turn, led to a revitalization of the economic landscape surrounding large-scale energy storage, thereby invigorating the competitive sphere in the bidding market. There will be an explosive growth within the realm of grid-level energy storage. Meanwhile, the lingering impact of the Russia-Ukraine conflict on energy pricing exhibited the declining trend, yielding a substantial reduction in power generation expenses across diverse nations. Nevertheless, the cost of residential electricity remains high when contrasted against the benchmark established in 2021. In parallel, the demand for household energy storage, particularly championed by Europe, is poised to continue its upward trajectory. Furthermore, the imperative of energy security has prompted nations between 2022 and 2023 to introduce a series of incentivizing policies tailored to stimulate demand for energy storage. In tandem, these countries have undertaken substantial enhancements to their regulatory frameworks for energy storage, thereby fostering an environment conducive to burgeoning demand.

TrendForce' predicts a swift and robust development in global energy storage demand, with the anticipated newly installed capacity poised to reach an impressive 380 GW/926 GWh during the period spanning 2023 to 2027.

This comprehensive report delves into the electrochemical energy storage market demand, encapsulates the nuanced fluctuations in demand patterns and provides the forecasts on the installed demand in crucial countries worldwide. A meticulous exploration of the driving forces behind these shifts encompasses the spectrum of energy storage installations, including household, industrial and commercial, and large-scale installations. A granular analysis of pertinent variables such as policy dynamics, installation benchmarks, local tariff structures, and intricate bidding data enriches the report's insights.

Deliverable

• The report includes Quarterly update.(February/May/August/November)
• The database time covers the forecast for the current quarter, the next three quarters and the next five years.
• The report is available in Chinese or English.