A research report from CICC highlights that the continuous expansion of renewable energy installations, marked by the volatility of PV and wind power output, has exerted significant pressure on power grids. To uphold grid stability and foster the sustainable development of new energy sources, nations are urgently seeking energy storage solutions to complement renewable energy. By scrutinizing the current landscape of centralized PV+Storage and stand-alone energy storage in the United States, the United Kingdom, India, and the Middle East, CICC forecasts a sustained growth trajectory for PV+Storage installations in these regions. Furthermore, Brazil and Turkey are also poised for energy storage installation growth, potentially emerging as high-potential markets for energy storage. Amidst this robust expansion of global large-scale energy storage installations, CICC remains optimistic that leading power conversion system (PCS) vendors will achieve notable growth in both volume and profit by 2025.