European Energy Storage Market Faces Cooling Demand and Industry Overcapacity in 2023

【SMM Analysis: Cooling Demand for Overseas Energy Storage? How Will the Future Trend be Differentiated】

SMM News, January 9th: According to SMM's research, the European energy storage market experienced a significant boom in 2022, attracting a large number of suppliers to enter. In 2023, as the European energy crisis eases and electricity prices fall, combined with a significant amount of existing inventory in the energy storage market, customers are adopting a wait-and-see attitude towards purchasing energy storage products. In addition, large-scale protests and strikes by local workers have severely delayed the installation progress of energy storage systems, leading to a current focus on depleting existing inventory in the European energy storage market.

Looking at the domestic market, the surge in demand for energy storage terminals in 2022 has led to a dramatic increase in the number of domestic energy storage supply companies, making the trend of industry overcapacity more apparent. Combined with the slowdown in terminal demand in 2023, it is particularly important for energy storage companies to seek differentiated strategies.