The Energy Storage Market Remains Hot in The First Half of 2025, with Multiple Mega-projects Being Delivered in Batches by Listed Companies.

The energy storage market remains hot in the first half of 2025, with multiple mega-projects being delivered in batches by listed companies.

According to statistics, as of July 28, eight energy storage companies have released their 2025 semi-annual performance forecasts. Four of these companies projected net profit growth exceeding 40%, and one achieved a turnaround, demonstrating the industry's initial profitability resilience.

Cai Zilin, a high-end equipment industry analyst at Wanlian Securities, told Securities Daily that the global energy storage industry is entering a new cycle. On the one hand, the energy storage industry has officially entered a stage of market-based competition, with market demand driving sustained, high-growth global energy storage. On the other hand, with market maturity and diversified demand, the industry has shifted from scale expansion to value creation.

Global energy storage installed capacity is growing rapidly, driving a rapid increase in energy storage battery shipments.

According to the ICC Energy Storage Database, global energy storage battery shipments reached 258GWh in the first half of 2025, a year-on-year increase of 106%. Domestic manufacturers shipped 252GWh, a year-on-year increase of 109%. Chinese energy storage battery shipments have already taken a dominant position in the global market. At the same time, leading battery manufacturers maintained rapid growth, and market concentration continued to increase.

Due to strong market demand, energy storage battery manufacturers maintained high capacity utilization rates in the first half of this year, with some companies even experiencing supply shortages. Against this backdrop, leading manufacturers, represented by Contemporary Amperex Technology Co., Ltd. (CATL) and Huizhou Yiwei Lithium Energy Co., Ltd., continued to lead lithium battery capacity expansion in the first half of the year. For example, CATL added new battery production capacity projects in Fuzhou and Shandong, further consolidating its production capacity advantage.

According to incomplete statistics, 27 new energy storage system integration projects were signed, commenced, or put into operation in China in the first half of 2025, with a total investment exceeding 55 billion yuan. Overall, the energy storage market will continue its high growth momentum in the first half of 2025. Driven by strong market demand, the industry's enthusiasm for investment and capacity expansion remains unabated.

Qiu Sisong, Chief Economist of Shenzhen Wanzhong Consulting Management Co., Ltd., told Securities Daily that this round of capacity expansion reflects the optimistic growth prospects of the global energy storage market and the urgent market demand for high-quality products. It is foreseeable that intensified industry competition will further increase the concentration of the energy storage market. Companies are shifting their development strategy from simply pursuing scale expansion to improving project quality and operational efficiency. They need to break through the competition through technological innovation, cost control, and business model optimization.

It is worth noting that since the beginning of this year, leading energy storage battery companies have continued to invest in new technology research and development, focusing on the development of next-generation, large-capacity energy storage cells, driving the development of energy storage systems towards larger and more integrated systems. Furthermore, some battery companies are accelerating their downstream expansion, achieving vertical integration of "cells + systems" through the construction of their own energy storage system integration production lines, thereby building diversified competitive barriers.

As the energy storage market develops, the distribution of global demand is undergoing significant changes. In overseas markets, while traditional European and American markets remain important sources of energy storage demand, demand in emerging markets such as Southeast Asia and Africa is also rapidly rising.

The ICC Xinlang Energy Storage Database shows that in the first half of this year, emerging markets around the world saw a surge in the delivery of ultra-large energy storage projects. These include the fourth and sixth phases of the Atacama Oasis project in Chile, a collaboration between CATL and Grenergy, totaling 4.75GWh; the 1.6GWh project in Chile, a collaboration between JinkoSolar and Metlen Group; and the 2GWh Collie energy storage project in Australia, a collaboration between CATL and Synergy. These projects demonstrate that emerging markets have become a key engine for global energy storage growth.

Cai Zilin stated that the accelerated delivery of ultra-large projects in overseas markets is further driving changes in the global energy storage demand landscape. Some companies have begun developing energy storage products suitable for computing scenarios such as data centers, providing stable power support and ensuring efficient operation. The energy storage industry is expected to enter a more healthy and sustainable development phase in the future, providing solid support for global energy transformation and the development of the digital economy.