With The Global Energy Transformation, The Energy Storage System Market in The Middle East is Rising Strongly!

In the wave of global energy transformation, the energy storage system market in the Middle East is rising strongly. Saudi Arabia has entered the top ten of the world's new energy storage system installed capacity in 2024 for the first time, ranking tenth. According to the CNESA report, the global installed capacity of newly put into operation energy storage systems will reach 74.1GW/177.8GWh in 2024. The Middle East has become a core growth pole, and new energy storage system orders have emerged frequently. Chinese companies dominate the market with their technological advantages. For example, BYD has won a 12.5GWh grid-side energy storage system order from Saudi Arabia, and CATL has supplied a 19GWh energy storage system for the UAE RTC project, which has refreshed the global energy storage system record; Sungrow has delivered a 7.8GWh energy storage system to Saudi Arabia, and Huawei is also involved in the Red Sea 1.3GWh energy storage system project. The surge in demand for energy storage systems in the Middle East stems from the country's reliance on fossil energy of over 95%, and the great pressure to reduce emissions. Saudi Arabia plans to achieve a renewable energy installed capacity target of 130GW by 2030, of which photovoltaic (including solar cell modules) will increase by an average of 15-20GW per year, and the energy storage system capacity target is 48GWh. Driven by this, China's exports of solar cell products (such as photovoltaic modules) to the Middle East will double to 28.79GW in 2024, with Saudi Arabia's imports accounting for 60%; with the expansion of photovoltaics, the demand for energy storage batteries will increase simultaneously, and the proportion of storage will increase by 10%-15%, which will drive the rapid expansion of energy storage system deployment. The energy storage system in the Middle East has great potential. China's leading companies have consolidated their market through innovative energy storage system upgrade strategies. Small and medium-sized enterprises also need to focus on differentiated energy storage system technologies to avoid risks. The incremental energy storage system market led by Saudi Arabia will continue to drive global energy transformation, and the entire energy storage system ecosystem is booming.