Energy storage has the fastest growth

Should energy storage be developed?

Developing energy storage has become a global consensus. It was announced at COP29 in late 2024 that global storage capacity will increase to 1,500 GW by 2030, more than six times the 2022 level. As a result, InfoLink maintains a cautiously optimistic outlook for the medium- to long-term development of energy storage systems.

Will energy storage growth continue through 2025?

With developers continuing to add new capacity, including 9.2 GW of new lithium-ion battery storage capacity in 2024 through November 2024 and comparable levels of growth expected through the fourth quarter of 2024, energy storage investments and M&A activity are expected to continue this trajectory through 2025.

Will energy storage grow in 2024?

The energy storage sector maintained its upward trajectory in 2024, with estimates indicating that global energy storage installations rose by more than 75%, measured by megawatt-hours (MWh), year-over-year in 2024 and are expected to go beyond the terawatt-hour mark before 2030.

What was the fastest growing battery demand market in 2024?

In another record year for battery storage, the fastest-growing battery demand market, record deployments were seen across key markets. Storage installations in 2024 beat expectations with 205GWh installed globally, a staggering y-o-y increase of 53%.

How can manufacturers capitalize on energy storage trends?

To capitalize on this trend, manufacturers should focus on market insights and plan for new opportunities. Developing energy storage has become a global consensus. It was announced at COP29 in late 2024 that global storage capacity will increase to 1,500 GW by 2030, more than six times the 2022 level.

How has the grid storage market changed over the years?

Globally, the grid storage market increased 68% y-o-y from 96GWh to 160GWh. China accounted for 67% of BESS deployments globally, as provincial level requirements and record low cell and system prices drive forward the market.