In 2019, 4.3 GW of grid-connected energy storage capacity is expected to be added globally

According to the latest report released by IHS Markit, an international market research institution, the compound annual growth rate of the global grid-connected energy storage market will reach 12% by 2025, and it is expected that 4.
3 GW of grid-connected energy storage capacity
will be added globally in 2019.

According to the report, the increase in demand for energy storage in the utility-scale solar market, the growth of the Chinese market and the strengthening of demand for new residential energy storage are the main reasons for the
stable and rapid development of this market.

In 2018, the scale of global grid-connected energy storage grew rapidly, although the main reason was the delay of some projects in 2017 and the strong growth
of the Chinese market.
In terms of scale, the United States, South Korea and the United Kingdom are the three main markets
for grid-connected energy storage in 2018.

IHS Markit forecasts that 10.
6 GW of global energy storage capacity will be added by 2025, energy storage system hardware revenue will increase to $8.
4 billion by 2025, and stronger growth is expected in China, infrastructure investment and regulatory reforms will drive demand growth
in this market.

In addition, Germany and Japan are also likely to see higher development rates
benefiting from strong demand for residential energy storage.