2025 marks a significant year where the Chinese energy storage industry solidified its global dominance while its domestic market matured. Chinese companies now supply 9 out of every 10 energy storage cells globally, with the top 10 cell manufacturers worldwide all being Chinese firms, holding a combined market share of nearly 90%. The overseas market has become a crucial second growth curve, driven by higher profitability and more diverse application scenarios compared to the competitive domestic market.
Domestically, the market successfully transitioned from policy-driven growth to economic-driven growth. Despite the initial shock from the cancellation of mandatory storage allocation, the annual installation volume is expected to reach 157 GWh, representing a strong 82.9% year-on-year growth. This demonstrates that storage projects are increasingly standing on their own economic merits, supported by mechanisms like spot markets and ancillary services.
Overseas, the demand has been unexpectedly strong. Europe is projected to see installation growth as high as 92%, while the Middle East has emerged as the fastest-growing emerging market. Chinese companies are not just exporting products but also engaging in extensive local strategic partnerships and project deployments. In October 2025 alone, Chinese firms signed or executed over 45 overseas deals with a total scale of approximately 69 GWh. The strong demand has even led to price increases for energy storage cells in long-term agreements for 2026. Analysts believe the global energy storage market still has immense growth potential, with annual installations peaking around 2035 and offering up to 8.6 times more room for growth from current levels.
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