04

2024

-

02

Global shipments of lithium energy storage batteries increase sharply in 2023, Chinese enterprises account for more than 90%

Author:


[CNMO News] The global energy storage lithium battery market has achieved significant growth in 2023, and the proportion of shipments of Chinese companies has reached an unprecedented height. According to the latest data from the Energy Storage Research Institute (GGII), global shipments of lithium energy storage batteries in 2023 were 225GWh, up 50% year-on-year. Among them, China's lithium storage battery shipments were 206GWh, up 58% year-on-year, accounting for 91.6 of the total global shipments.

[CNMO News] The global energy storage lithium battery market has achieved significant growth in 2023, and the proportion of shipments of Chinese companies has reached an unprecedented height. According to the latest data from the Energy Storage Research Institute (GGII), global shipments of lithium energy storage batteries in 2023 were 225GWh, up 50% year-on-year. Among them, China's lithium storage battery shipments were 206GWh, up 58% year-on-year, accounting for 91.6 of the total global shipments.

Behind this growth trend, it reflects the strong strength of Chinese enterprises in technological innovation, industrial chain coordination, cost advantage and downstream market development.

The report pointed out that the choice of technology routes and innovation advantages have brought significant advantages to Chinese companies. In recent years, the global energy storage lithium battery fire accident frequent background, overseas integrators and battery enterprises to speed up the three yuan to lithium iron phosphate route switch. The application safety of square lithium iron phosphate in the field of energy storage is obviously better than that of the cylindrical ternary system, which makes the products of Chinese enterprises more competitive. At the same time, the update iteration speed of China's energy storage cells is also accelerating, and the rapid iteration of technologies such as high-temperature cells and 300Ah large-capacity cells has further consolidated its innovative advantages.

In addition, industrial chain synergy and cost advantage are also important magic weapons for Chinese enterprises. Thanks to the synergy of the domestic lithium-electric industry supply chain, energy storage companies have been able to achieve significant cost reduction advantages. In addition, in 2023, a number of domestic lithium battery materials and battery cell enterprises set up factories in Europe, America, Southeast Asia and other places. This global industrial chain synergy has reduced the cost of going to sea for Chinese enterprises and improved their market competitiveness.

The performance of Chinese enterprises in the downstream market is also very eye-catching. On the one hand, China is the world's largest energy storage market. In 2023, China contributed more than half of the new installed capacity of renewable energy in the world, which provided a strong impetus for the rapid development of the domestic energy storage industry. On the other hand, domestic integrators have gradually increased their share of overseas markets in sub-sectors such as power storage (e. g., Sungrow, BYD, Trina, etc.), household energy storage (e. g., Huawei, Shouhang, Wheat Field, etc.), and portable energy storage (e. g., Zhenghao Innovation, Huabao New Energy, etc.), which provides strong support for the increase in the proportion of shipments of Chinese suppliers.

GGII predicts that with the gradual landing of domestic production capacity in the United States from 2025 to 2026, the shipments of Chinese companies may be affected to some extent. However, considering the strong strength of Chinese enterprises in technological innovation, industrial chain coordination, cost advantage and downstream market development, its position in the global energy storage lithium battery market will still play an important role in the future.

Source: CNMO Mobile China