InfoLink Consulting has released its global ESS (Energy Storage System) shipment rankings for 2024, highlighting the sector’s accelerated growth. Last year, shipments reached 240 GWh, representing an increase of over 60% compared to 2023.
The market continued its expansion trajectory, driven by the advancement of the energy transition and the growing adoption of integrated solutions with solar and wind energy.
Global Manufacturer Ranking
The top five global manufacturers of energy storage systems on the AC (alternating current) side were:
- Tesla
- Sunrow
- CRRC Zhuzhou Institute
- Fluence
- HyperStrong
The DC (direct current) market also showed a clear ranking, with CATL and BYD leading by a large margin, followed by PotisEdge, Hithium and RelyEZ.
These companies, especially CATL and BYD, are strengthening their competitiveness with vertical integration, covering everything from lithium mining to cell production and system integration.
Key industry trends in 2024
1. Intense Competition
- Tesla and Sungrow vied for global leadership, with Tesla ahead in the first half and Sungrow outperforming quarterly shipments in the third and fourth quarters;
- The rivalry between the two giants is expected to continue into 2025.
2. Global balance in competition
- Among the ten largest manufacturers, six were from China and four from the USA, demonstrating a balanced competitive scenario;
- Chinese companies have expanded their international operations, while American manufacturers have expanded their presence in Europe, the Middle East, Africa and Asia-Pacific;
- The direct competition between Chinese and American companies is expected to intensify in 2025.
3. Solar and wind power driving storage
- Traditional renewable energy companies have started investing in the storage sector to diversify their revenues and improve grid stability;
- Envision and Goldwind Carbon Neutral, known for their work in wind energy, ranked 6th and 11th in the global ranking;
- Solar-focused Canadian Solar and Trina Storage also saw growth, reaching 9th and 13th places, respectively.
4. Industry consolidation
- In 2024, China Electric Equipment Group merged three subsidiaries to form one of the world's largest energy storage providers;
- With this merger, the company began to compete directly with major global players, consolidating its market share.
Prospects for 2025
Despite short-term geopolitical challenges, the sector is expected to continue growing through 2025. According to InfoLink, global energy storage shipments are expected to grow by 25%, suring 300 GWh over the course of the year.
Major manufacturers must continue to focus on cost reduction, technological innovation and vertical integration, seeking to strengthen their positions in an increasingly competitive and globalized market.
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