HSBC Research Expects Significant Growth in Global ESS Installed Capacity Over Next 5 Years, Rates SANHUA Buy
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HSBC Research forecasts a 23% CAGR growth in global energy storage systems (ESS) installed capacity from 2025 to 2030, raising its installation estimates for 2023 and 2024. The capacity is expected to reach 901GWh by 2030, driven by renewable energy and grid infrastructure challenges. The report highlights the underestimated growth potential of behind-the-meter energy storage, projecting its share to rise from 17% in 2024 to 25% in 2030. HSBC initiated coverage on SANHUA and other related stocks with a Buy rating, providing target prices for each.
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