China's Energy Storage Shipments Surpass 100GWh in a Single Month for the First Time, with Overseas Installations Also Strengthening

Overview

This report tracks global energy storage battery shipment, installation, production, and tender data. In June 2026, China's energy storage market maintained strong momentum, with monthly shipments exceeding 100GWh for the first time; installations in the United States and Germany also rebounded materially, reflecting improving energy storage economics and rising demand for grid stability.

Core views

China remains the core driver of global energy storage demand, with declining battery costs and supportive policies improving project economics. Strong tender data support subsequent demand, although the report expects growth to slow in the second half. CATL is regarded as a preferred way to participate in the energy storage theme, given its advantages in scale, capacity utilization, and market share.

Analysis framework

Based on multi-source monthly databases, the report cross-tracks energy storage installation, shipment, production, capacity, and tender data; the database is updated monthly with an approximately one-month lag.

Methodology notes

• Industry Data TrackingMonthly Energy Storage Supply-Demand Tracking

  Cross-validation of shipments, installations, capacity, utilization, and tenders

  Monthly operating data from China, the United States, and Germany are used to assess global energy storage demand strength, supply-demand balance, and the competitive landscape among major battery manufacturers.

• Forecasting FrameworkGlobal Energy Storage Demand Forecast

  Demand scale and long-term compound growth rate

  The report forecasts global energy storage battery demand of 1,023GWh in 2026, up 86% YoY, reaching 2,109GWh in 2030, implying a CAGR of approximately 20% over the next four years.

Asset mapping & comparison

Structured mapping from thesis to named assets (strengths, weaknesses, peers, risks).

• CATL

  Leading energy storage battery manufacturer and an explicitly recommended name in the report

  Strengths

  June energy storage shipments of 21.3GWh, up 64% YoY; cumulative 2026 market share of 21.7%, ranking first in the industry; monthly energy storage utilization of 97%.

  Weaknesses

  Must contend with industry capacity expansion and price competition.

  Comparison

  Shipment scale is significantly ahead of Hithium and EVE; both had cumulative 2026 shares of 9.2%.

  Risks

  Slower energy storage demand growth, competitor capacity expansion, declining product prices, and policy changes.

• EVE

  Major Chinese energy storage battery supplier

  Strengths

  June shipments of 9.2GWh, up 53% YoY; cumulative 2026 market share of 9.2%.

  Weaknesses

  Scale and market share are below CATL's.

  Comparison

  Its cumulative market share is comparable to Hithium's, but both are materially below CATL's.

  Risks

  Intensifying industry competition and demand volatility.

• Hithium

  Major Chinese energy storage battery supplier

  Strengths

  June shipments of 9.8GWh, up 23% YoY; cumulative 2026 market share of 9.2%.

  Weaknesses

  Growth is slower than that of CATL and EVE.

  Comparison

  Monthly shipments were slightly higher than EVE's, but market share remains far below CATL's.

  Risks

  Risks from capacity expansion and price competition.

• BYD

  Energy storage battery supplier

  Strengths

  Cumulative 2026 market share of 7.2%.

  Weaknesses

  June energy storage shipments were 6.2GWh, down 24% YoY.

  Comparison

  Market share ranks behind CATL, Hithium, and EVE.

  Risks

  Near-term shipment declines and pressure on market share.

Key data

• China June Energy Storage Battery Shipments100.9GWhUp 65% YoY and 3% MoM, marking the first month to exceed 100GWh.
• China Cumulative 2026 Energy Storage Shipments507.8GWhUp 97% YoY.
• China June Energy Storage Capacity Utilization95%70% in the same period last year.
• China June Energy Storage Tendered Battery Volume95.3GWhUp 72% YoY; cumulative 2026 volume was 374.8GWh, up 192% YoY.
• U.S. June Energy Storage Installations9.8GWhUp 121% YoY; cumulative 2026 installations were 21.7GWh, up 8% YoY.
• Germany June Energy Storage Installations1.0GWhUp 69% YoY, including 0.6GWh of utility-scale energy storage, up 255% YoY.
• CATL June Energy Storage Shipments21.3GWhUp 64% YoY; cumulative 2026 market share was 21.7%.
• 2026 Global Energy Storage Demand Forecast1,023GWhExpected to increase 86% YoY.

Impact & implications

High shipments, 95% industry utilization, and robust tenders collectively point to tight near-term supply and demand in China's energy storage market, supporting battery manufacturers' production and order visibility. Overseas, the rebound in U.S. installations and expansion of German utility-scale storage help diversify demand geographically. Strong industry growth also means that competition, pricing, and normalization of second-half growth require continued monitoring.

Risks

• Global energy storage demand growth may slow in the second half relative to the first half.
• Battery industry capacity expansion may again create supply-demand imbalances and pressure prices.
• Changes in Chinese policies, tender timing, and overseas project approvals may affect demand realization.
• U.S. monthly installations are highly volatile, and strong single-month growth may not represent a sustained trend.
• German residential energy storage installations declined YoY, with demand shifting toward utility-scale storage.

What to watch

• Whether China's monthly energy storage shipments can remain above 100GWh.
• Whether China's energy storage tenders and awarded volumes can translate into actual shipments and installations.
• Whether industry capacity utilization remains elevated.
• The sustainability of U.S. energy storage installations following the June rebound.
• Whether growth in German utility-scale storage can offset weak residential energy storage.
• CATL's shipment, market share, utilization, and earnings delivery implied by its target price.