Market analysis company Globaldata pointed out in the "2023 Global Market Scale, Competitive Landscape and Key Country Analysis Report" that by 2023, Asia Pacific (APAC) and Europe, Middle East and Africa (EMEA) will be the most important battery storage markets.

　　Forecast of installed capacity of energy storage in various regions of the world in 2023

　　In terms of battery cost control, the United States, Japan, South Korea and other countries are leading the world, while China is temporarily at the bottom of the industry, but China's huge energy storage market has brought a lot of demand. In terms of the installed capacity of energy storage, China has great stamina.

　　The U.S. battery storage market accounts for 23% of the global market

　　U.S. utility-scale annual battery installation, 2003-2018

　　Globaldata analyst Bhavana Sri said: "In terms of cumulative installed capacity and market value, as of 2018, the United States has been the largest international market for battery energy storage systems, and it is likely to continue to maintain its leading position nationwide."

　　This is largely due to the strong incentive plans of some states in the United States. It is understood that California’s energy storage capacity next year has exceeded the 3 GW plan. The state is preparing to achieve a full economic decarbonization by 2045, and it is expected that it will not be long. Another ambitious goal will be set.

　　Lithium-ion battery (LIB) has become the main energy storage solution in modern social life. Among them, lithium iron phosphate batteries are a perfect replacement for lead-acid batteries, and they are the first choice for grid-connected peak shaving, off-grid energy storage, photovoltaic energy storage, UPS, data center and other industries.

　　The market environment is improving, and more and more companies are turning to decentralized power generation. Renewable energy + energy storage is regarded as the best solution.