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| Author | InfoLink |
| Updated | August 06, 2024 |
According to InfoLink’s global lithium-ion battery supply chain database, energy storage cell shipment reached 114.5 GWh in the first half of 2024, of which 101.9 GWh going to utility-scale (including C&I) sector and 12.6 GWh going to small-scale (including communication) sector. The market experienced a downward trend and then bounced back in the first half, sustaining a steady growth of 33.6% YoY.
The top five largest energy storage cell manufacturers in the first half are CATL, EVE Energy, REPT, Hithium, and BYD. CATL secured the top position with orders from major customers like Tesla and Fluence. EVE Energy received orders from all big customers, sustaining second place in the industry.
The competition continued to escalate in the first half, with industry concentration remaining high. The CR10 reached 91%, staying unchanged from the first quarter. Underpinned by leading manufacturers’ steady performance, the CR5 hit 73.2%, an increase of 1.8% from the first quarter. Among companies ranked from the sixth to tenth, CALB saw significant growth, posting threat to the top five. Korean manufacturers Samsung SDI and LG, on the other hand, saw low shipment volumes, with their combined market share dropping to around 5%.
InfoLink strives for information comprehensiveness, but in case of any discrepancies with official data, manufacturers’ official data shall prevail.
In the utility-scale sector, the top five companies are CATL, EVE Energy, Hithium, REPT, and BYD. The top two predominated, with CATL shipping more than 40 GWh and EVE Energy shipping nearly 15 GWh. The rest of the three shipped less than 10 GWh, with slight difference between each other. The June 30 installation rush drove cell shipment for utility-scale storage market in the first half, up 44.3%. Moreover, 300Ah+ products have accounted for nearly 30% of share in the global utility-scale storage market now. Mainstream energy storage companies started shipping 300Ah+ products in the second quarter, and such products even took up more than 50% of the shipment by some manufacturers.
InfoLink strives for information comprehensiveness, but in case of any discrepancies with official data, manufacturers’ official data shall prevail.
In the small-scale storage sector, the top five are EVE Energy, REPT, Ampace, BYD, and Gotion. The competition is also intensifying, with industry concentration declining further. In the first half, the CR5 decreased by 6.9% from the first quarter to 70.3%. EVE Energy took up a market share of more than 25%, retaining its first position. REPT remained stable, securing nearly 20% of market share. Companies ranked from third to fifth accounted for a market share of 7% to 10%. Ampace’s market share slightly recovered, enabling it to return to third place. Gotion entered the top five with its strong performance in the communication sector.
InfoLink strives for information comprehensiveness, but in case of any discrepancies with official data, manufacturers’ official data shall prevail.
In terms of energy storage systems, InfoLink’s database shows that global energy storage system shipment stood at 90 GWh in the first half. The top five BESS integrators in the AC side are Tesla, Sungrow, CRRC ZHUZHOU INSTITUTE, Fluence, and Envision, having shipped more than 30 GWh together. In the DC side, the top five BESS integrators are CATL, BYD, HyperStrong, RelyEZ Energy, and Narada Power, together shipped more than 20 GWh.
InfoLink strives for information comprehensiveness, but in case of any discrepancies with official data, manufacturers’ official data shall prevail.
Highlights of BESS integrator ranking:
- Overall: Regardless of AC and DC, the top two companies predominated, with a wide gap with the rest. Shipment volume by companies ranked third to fifth is close to each other, which need to solidify their position.
- CATL: The share of shipment for DC in total cell shipment is on the rise, gradually demonstrating its capability in BESS, which enabled it to secure the first place.
- BYD: Domestic and global shipment grew evenly due to better global operating capability, taking up the second place in the DC side.
- HyperStrong: As an established system integrator, the company has sustained the leading position for years and secured the third place this time. Currently, the share of domestic business accounts for a higher share and it will shift focus to foreign markets in the second half.
- Tesla: A notable company worldwide. It has adopted an aggressive pricing strategy since the beginning of this year, with better order volume. It secured the first place in the AC side. Attention should be paid to its construction progress of megapack factory in Shanghai in the second half.
- Sungrow: With better supply chain management and comprehensive overseas channels, Sungrow is ranked second in the AC side. Its delivery progress for the 7.8 GWh project in Saudi Arabia is the major focus in the second half.
- CRRC ZHUZHOU INSTITUTE: With stellar performance in the Chinese market, it claimed the third place in the AC side. Its movement of expanding to overseas markets is worth monitoring in the second half.
In the energy storage industrial chain, the landscape of cells and system integration is still unclear, and the sector is experiencing upward movement amidst fluctuations. Amid market intensification, various companies are strategizing for business growth, either seeking expansion abroad or pursuing vertical integration. However, the current competitive situation results in a lower margin for error. Companies should carefully plan their development strategies based on their actual conditions, prioritize stability, and avoid making mistakes. When assessing future development expectations, it is important to avoid "linear extrapolation," and consider market challenges thoroughly and accumulate resources to weather the downturn.