20250421-华安证券-电力设备新能源_全球大储维系高增长_工商储户储需求回暖_32页_2mb

The global energy storage industry is experiencing rapid growth, particularly in demand-driven markets like China and India. China's demand side shows significant increases in February 2025 with deployments reaching 124GW/289GWh and tenders scaling to 75GW/381GWh, signaling strong commercial and industrial storage uptake. India benefits from critical policy shifts requiring 10% energy storage for solar projects, with projected growth to over 1GW capacity by Q2 2025. All export-oriented markets demonstrate substantial expansion, from Germany’s over 2,000% storage growth in March 2025 to Australia’s rising storage revenues, largely facilitated by high electricity prices and system demand. Low-return economies show stable progress, while regions like the Middle East and Africa are rapidly scaling storage projects, particularly Long Duration Energy Storage (LDES), driven by policy integration and declining costs. The supply side experiences slight downward price movements while demand remains heightened. Major risks include policy changes and intensifying competition in the United States and Europe. All regions intensify demand for cleaner energy transitions, but the industry must guard against financial pressures and global market fluctuations.