Emerging Market Energy Storage Demand Database
Gain insights into energy storage market trends and seize strategic overseas expansion opportunities.
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Author | InfoLink |
Updated | February 21, 2025 |
InfoLink Consulting has released its 2024 global energy storage system (ESS) shipment ranking, based on its Energy Storage Supply Chain Database.
In 2024, global ESS shipments continued to grow, reaching 240 GWh, up over 60% YoY.
The top five global battery energy storage system (BESS) integrators in the AC side for 2024 were Tesla, Sungrow, CRRC Zhuzhou Institute, Fluence, and HyperStrong.
Key trends for the AC Side in 2024:
Intense competition:
Balanced landscape:
Wind and solar coupled with storage:
Industry consolidation: In early 2024, China Electric Equipment Group merged three subsidiaries, Xuji Electric Storage, Pinggao Group, and SCETL, to form China Electrical Equipment Group Energy Storage. Through this merger, the company became one of the world's top energy storage suppliers. Among its subsidiaries, SCETL ranked 10th worldwide, Xuji Electric Storage ranked 12th, and their combined shipments rivaled leading global companies.
In 2024, DC-side shipments showed a clear ranking. CATL and BYD remained the top two with a strong lead, followed by PotisEdge, Hithium, and RelyEZ. Notably, CATL, BYD, and the newcomer Hithium are top energy storage cell makers, increasingly expanding into system integration.
Top cell makers, with their technology and supply chain advantages, are strengthening their competitiveness in the full industry chain through vertical integration. CATL and BYD now cover all aspects, from lithium mining to cell production and system integration. They are expected to make major strides in the AC sector by 2025.
In 2024, the energy storage market was rapidly restructuring. Leading companies increased their market share through cost control and strong distribution, while smaller players struggled with price competition and limited funding, leading to industry consolidation. Meanwhile, global energy storage demand expanded across regions, driving companies to develop worldwide R&D, production, delivery, and operations.
Despite short-term geopolitical challenges, the energy transition will drive a 25% growth in energy storage shipments in 2025, with total shipments expected to exceed 300 GWh.
Gain insights into energy storage market trends and seize strategic overseas expansion opportunities.
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