Energy Storage 2025 Mid-Year Strategy: Large-Scale Booming, Residential Recovery, C&I New Highlight

This mid-year strategy report analyzes the global energy storage market in 2025, highlighting booming large-scale storage, confirmed residential storage recovery, and emerging C&I storage as a new highlight. Global large-scale storage installations are estimated to grow 51% to 205 GWh, driven by US policy, European explosive growth, and emerging market demand. Residential storage is expected to reach 20+ GWh, up 14%+ YoY, with European destocking complete and US rush ahead. C&I storage installations are forecast at 16.6 GWh, up 62% YoY, with strong economics overseas and surging filings in China. The industry chain shows stable cell landscape with CATL leading, PCS concentration rising, and overseas expansion accelerating. Investment recommendations focus on overseas large-scale storage players like Sungrow, CATL, and Hyperstrong, as well as residential/C&I companies like Deye and Erayak. Risks include intensified competition and policy changes.