Substantial growth in China’s domestic energy storage market has led to locally-based players Sungrow and Hyperstrong becoming top five system integrators globally, S&P Global Commodity Insights said.

Annual battery energy storage system (BESS) installations will grow by 10x between 2022 and 2030, according to research firm Rystad Energy.

What are the biggest market segments by region, application and opportunity today in energy storage? Guidehouse Insights senior research analyst Alex Eller takes us through the present and emerging hotspots of the global energy storage industry. Taken from the Energy Storage Digital Series online conference held earlier this year.

The US is expected to remain the world’s biggest market for energy storage until 2022, with China its closest rival, GTM Research has said.

The rise of energy storage will enjoy a similarly meteoric trajectory to that enjoyed by solar PV deployment in the past and could reach 305GWh of installations by 2030, BNEF has predicted.