Tesla Maintained BESS Lead In 2024; Chinese Firms Gain Ground

Tesla maintained its leading position among the world’s top battery energy storage system (BESS) suppliers in 2024, according to Wood Mackenzie. This is the 2nd year in a row that the US tech giant has topped the list, while also maintaining a 15% share of the market, like in the previous year.

Nevertheless, it is facing intense competition from China’s Sungrow, which also claimed 14% market share last year, while retaining its 2nd spot on Wood Mackenzie’s Global Battery Energy Storage System Integrator Ranking 2025 report. Analysts share that Sungrow reduced Tesla’s lead from 4 percentage points in 2023 to 1 in 2024. 

Another Chinese entity, CRCC, took the 3rd spot, yet again, with an 8% market share. Envision and Huawei jointly claimed the 4th position, while Hyper Strong was placed 5th. Wood Mackenzie explains that it ranks vendors by the number of shipments in the MWh, recognizing only shipments with revenue in the reporting year. 

Like in the solar module market, Chinese companies also dominate the global supply of BESS, as Wood Mackenzie counts 7 of the top 10 global integrators from China. One reason for their aggressive expansion in the space globally is the intense competition and oversupply back home in China.

Nevertheless, competition is getting fierce as Kevin Shang, Wood Mackenzie’s Principal Research Analyst, Energy Storage Technology and Supply Chain, notices, “Seven of the top 10 vendors last year struggled to expand their market share, remaining either unchanged or declining.” 

Geographic ranks 

Tesla led in North America for the 3rd consecutive year with a 39% market share. Sungrow took the 2nd place with a reduced share of 10% – down from 17% previously – and Powin took the 3rd spot. 

Even as the share of Chinese companies in the North America market dropped from 23% in 2023 to 16% in 2024, owing to rising US-China tensions and protectionist policies of the US, they are dominating the markets elsewhere.  

Wood Mackenzie reports Chinese integrators grew their European market share by 67% year-on-year (YoY), with 4 of the top 10 players in Europe headquartered in China. Sungrow led the European market, raising its market share from 10% to 21%, with Nidec and Tesla following in that order. 

CRRC topped the list in the Asia Pacific, as Sungrow climbed up from 4th to 2nd position. Envision followed next. In Asia, Chinese players captured over 90% of the total market share. 

Another growing market for the Chinese players is the Middle East, which is forecast to install 31 GW/115 GWh of energy storage capacity by 2034, as it pursues decarbonization targets amid rising energy demand. Sungrow, BYD, and Huawei were the top 3 suppliers to the region last year.  

“The global BESS integrator landscape is becoming increasingly complex, with regional trade policies and geopolitical tensions reshaping competitive dynamics," said Kevin Shang. “Success will increasingly depend on companies' ability to navigate diverse regulatory environments, adapt to local market requirements, and maintain competitive cost structures across multiple regions.” 

Sungrow Europe’s Head of Market Research, Frank Du, participated in the recent TaiyangNews Webinar on Global Solar Market Developments 2025 where he shared the opportunities and challenges in the European market as it expands hybrid PV and energy storage systems (see Expect Record Solar Growth In 2025, But Near-Term Risks Loom).