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| Author | InfoLink |
| Updated | February 14, 2025 |
InfoLink Consulting has released its Global Energy Storage Supply Chain Database.
According to InfoLink’s Global Energy Storage Supply Chain Database, global energy storage cell shipments totaled 314.7 GWh in 2024, up 60% YoY. The market showed a trend of early decline followed by a rebound, with 4Q24 shipments increasing 19.7% QoQ, reaching the annual peak for 2024.
Industry concentration remains high, with the top ten manufacturers facing intensified competition
In 2024, industry concentration remains high, with CR10 reaching 90.9%, roughly the same as in the first three quarters of the year. The top five companies in global energy storage cell shipments for 2024 were: CATL, EVE Energy, BYD, Hithium Energy Storage, and CALB. The top themes for the year were: stability, market shift, and key clients.
Stability: With years of industry experience, CATL maintains a clear market advantage and firmly holds the top position in the industry. Its strategy of “positioning energy storage as the second growth engine” has yielded successful results. Since 1Q24, EVE Energy has consistently ranked second in the industry, with a significant competitive advantage.
Market shift: In 2024, EVE Energy surpassed BYD to rise to second place in the industry, with CALB becoming a new member of the top 5. AESC ranked seventh, marking its first entry into the annual top ten since the release of this ranking. Meanwhile, Korean manufacturers Samsung SDL and LG Energy Solution dropped from sixth and eighth place in 2023 to tenth and eleventh place in 2024. Looking back at the quarterly rankings for 2024, the top five positions shifted each quarter, highlighting the intense market competition."
*Source: InfoLink Global Energy Storage Supply Chain Database
Key clients: “Optimizing for premium clients and expanding emerging customer bases” remains the essential strategies for manufacturers to gain a competitive edge. Optimizing for premium clients: Just as Tesla with CATL, Huawei with EVE Energy, and Sungrow with CALB, manufacturers benefit from the strict quality control and stable orders of top-tier clients, enabling them to enhance both product quality and brand reputation. Expanding emerging customers: Leading manufacturers leverage their strong market insights to maintain a broad customer base, ensuring they can fully capitalize on market surges in emerging sectors.
*InfoLink strives for information comprehensiveness, but manufacturers' official data shall prevail in case of any discrepancies with official data.
Utility-scale energy storage hit a new peak; market share of 300Ah+ cells surpasses half; 500Ah+ cells will soon enter mass production
In 2024, global utility-scale energy storage cell shipments reached 283 GWh, up 68% YoY and 22.6% QoQ in Q4. The top five manufacturers were CATL, EVE Energy, Hithium, BYD, and CALB. CR5 has surpassed 75%, signaling a highly concentrated market with limited growth opportunities for new entrants.
According to InfoLink, 300Ah+ cells now account for nearly 50% of the global utility-scale energy storage market in a single quarter. Leading manufacturers are finalizing timelines for 500Ah+ cell mass production, set to begin in the 2H25.
*InfoLink strives for information comprehensiveness, but manufacturers' official data shall prevail in case of any discrepancies with official data.
Small-scale energy storage: growth slows, competition stays fierce
In 2024, global small-scale energy storage cell shipments reached 31.7 GWh, up 12.4% YoY and down 4.6% QoQ in Q4. The top five companies were EVE Energy, REPT, Ampace, Great Power, and Gotion High-tech. Competition remains fierce, with CR5 reaching 65%, significantly decreased from the 85.1% peak in 2023. Looking back at the full year of 2024, EVE Energy and REPT remained the top two, while the market share gap between the third to fifth players and new entrants remained narrow, keeping the industry outlook uncertain.
*Source: InfoLink Global Energy Storage Supply Chain Database
*InfoLink strives for information comprehensiveness, but manufacturers' official data shall prevail in case of any discrepancies with official data.
Chinese-fund manufacturers still dominate in non-China markets
In 2024, frequent policy shifts and record-breaking tenders have made expanding overseas a top priority for manufacturers. According to InfoLink’s statistics, non-China markets’ energy storage cell shipments reached 137.3 GWh, with the top five suppliers being CATL, BYD, EVE Energy, AESC, and REPT. Chinese manufacturers continued to dominate non-China markets, while Samsung SDI and LG Energy Solution from South Korea held important positions, ranking sixth and ninth, respectively.
*Source: InfoLink Global Energy Storage Supply Chain Database
*InfoLink strives for information comprehensiveness, but manufacturers' official data shall prevail in case of any discrepancies with official data.
In 2024, the energy storage market grew rapidly despite rising competition and industry shifts.
For 2025, the market is set for new opportunities. InfoLink remains cautiously optimistic, forecasting 392 GWh in global cell shipments, a 25% YoY increase.
