【中信期货】中国储能行业年中展望-250715（21页）.pdf

1、重要提示：本报告非期货交易咨询业务项下服务，其中的观点和信息仅作参考之用，不构成对任何人投资建议。我司不会因为关注、收到或阅读本报告内容而视重要提示：本报告非期货交易咨询业务项下服务，其中的观点和信息仅作参考之用，不构成对任何人投资建议。我司不会因为关注、收到或阅读本报告内容而视相关人员为客户。相关人员为客户。This report is not a service under the futures trading consulting business.The opinions and information provided are for reference only and do n

2、ot constitute investment advice to anyone.CITIC Futures will not consider relevant personnel as customers due to their attention,receipt,or reading of this report.Investment consulting business qualification：CSRC License 2012 No.669 投资咨询业务资格：证监许可【2012】669 号 中信期货国际化研究中信期货国际化研究|CITIC Futures Internati

3、onal Research 2025-07-15 China Energy Storage Industry Mid-year Outlook 中国中国储能行业年中储能行业年中展望展望 摘要摘要 Abstract Global energy storage installations are projected to reach 271GWh in 2025,marking a 31%year-on-year increase,with battery cell production exceeding 406GWh and corresponding lithium carbonate de

4、mand of 240,000 tonnes.From January to May 2025,global energy storage demand showed regional variations.China experienced rapid growth in new energy storage installations driven by policy adjustments and a solar installation rush,with project economics expected to improve in the second half of the y

5、ear as power market reforms progress.While the U.S.maintained steady installation growth,new project approvals declined due to tariff and supply chain risks.Europe saw strong developments in utility-scale and commercial/industrial storage,with Germany,Italy,and the UK emerging as key markets.Emergin

6、g markets like the Middle East,Southeast Asia,and Latin America becoming new growth drivers,supported by policy incentives and energy transition needs.On the supply side,battery cell production surged in the first half of the year with strong pricing power,and prices across the energy storage indust