Overview of current trends in the energy storage industry

With the increasing global emphasis on renewable energy, China's energy storage industry has made significant progress in 2023. According to statistics, the cumulative installed power of global energy storage will reach approximately 294.1GW in 2023, and China has become an important driving force in the industry with a cumulative installed power of 83.7GW. The rapid development of new energy storage technologies is particularly eye-catching. Its market share in China is as high as 38.4%, showing huge growth potential and market value.
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However, with the vigorous development of the industry, market competition has become increasingly fierce. The decline in the cost of battery cells, the price of supporting modules, and the influx of cross-industry companies have all brought unprecedented challenges to the industry. At the same time, many small and micro enterprises are facing survival difficulties in the competition, and industry reshuffle has become inevitable.
Analysis of the “involution” phenomenon in the energy storage industry
1. The price war intensifies: As the prices of battery cells and supporting modules continue to fall, the cost of energy storage systems has dropped significantly, triggering a fierce market price war.

2. Intensified cross-industry competition: Many non-traditional energy storage companies have rushed in to try to get a share of the market, further intensifying the competition in the industry.

3. It is difficult for small and micro enterprises to survive: In the fierce competition, many small and micro enterprises face dual pressures of survival and development due to limitations in technology and capital.
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How to capture blue ocean industries in the early stages of development?

1. Keep up with policy guidance: Pay close attention to policy documents issued by the government, understand the direction and intensity of government support for emerging industries, and provide important reference for investment decisions.

2. In-depth study of industry reports: Understand the market status, development trends and competitive landscape of various industries by reading industry analysis reports, market research reports, etc.

3. Insight into market trends: Observe emerging demands and consumption patterns in the market, and discover potential market opportunities and development space.

4. Pay attention to technological innovation: keep up with technological development and innovation trends, especially those new technologies with disruptive potential, such as artificial intelligence, biotechnology, new energy, etc.

5. Track investment trends: Pay attention to the dynamics of venture capital and private equity investments, and understand the layout and trends of these funds in emerging industries.

6. Pay attention to media news: Economic, technology and industry-related news and media reports are an important window for understanding market dynamics and industry trends.

7. Seek expert advice: Communicate with industry experts, consultants or academic researchers to obtain more professional analysis and advice.

8. Conduct market research: Through on-site research, data analysis, etc., gain an in-depth understanding of the market conditions and development potential of the target industry.

9. Participate in industry activities: Actively participate in industry exchange conferences, forums and exhibitions, communicate and learn with peers, and expand your horizons and network.

10. Combine personal interests and expertise: When choosing a target industry, combine personal interests and expertise to make it easier to find a development path that suits you in the industry.

In the highly competitive energy storage industry, finding and seizing blue ocean industries in the early stages of development requires keen insight and decisive decision-making. Through in-depth analysis and research, combined with personal actual conditions, we may be able to occupy a place in the future market.