CICC forecasts that the energy storage industry will continue to experience robust growth in demand by 2026. This projection stems from the fact that the fundamental drivers propelling the expansion of energy storage demand remain steadfast. The worldwide shift towards renewable energy sources, coupled with the growing share of wind and solar power installations in the energy mix, hinges on the development of grid infrastructure and energy storage systems.

Additionally, the anticipated power shortages in AI data centers are expected to spur a greater integration of energy storage solutions into AI projects in the coming year. In terms of market activity, there is a substantial pipeline of large-scale energy storage bidding processes and planned projects across China, the United States, and Europe. Moreover, emerging markets, such as those in the Middle East, are witnessing a surge in demand for large-scale energy storage systems. The demand for residential as well as commercial and industrial energy storage solutions is equally buoyant, driven by persistent power shortages in these emerging markets.