Summary
With the continuous expansion of downstream energy storage demand in China, the market size of the energy storage battery industry has increased, and the market demand has continued to increase. It is expected that the market size will increase to 302.31 billion yuan in 2026.
Market status : The global installed capacity of lithium-ion battery energy storage technology is increasing year by year, and the proportion of the total installed capacity of global energy storage continues to expand. The market demand for lithium-ion battery energy storage is large. It is 5.2GW, accounting for 11.2%. The installed capacity and growth rate of global energy storage batteries are increasing year by year, and the global energy storage battery market demand is large; China’s energy storage lithium battery production is rising, and the downstream demand is large. After the epidemic stabilizes in 2021, the capacity growth rate will be obvious.
Industrial chain : The upstream of the energy storage battery industry chain is dominated by lithium iron phosphate battery raw materials, of which lithium iron phosphate cathode materials and anode materials account for 60%; the midstream is the energy storage battery system, and battery cells account for 70%; the downstream is The energy storage system is used in scenarios such as the power supply side, the power generation side, and the user side.
Development trend : Renewable energy power generation has the characteristics of intermittency, volatility and randomness. Under the background of dual carbon, China’s photovoltaic and wind power generation markets are developing rapidly, driving the demand for energy storage on the power supply side to expand. The number of 5G base stations in China is increasing year by year, and the market demand is large; compared with 4G base stations, 5G base stations have higher energy density requirements for energy storage batteries, and are more suitable for the use of lithium iron phosphate batteries. The development of 5G base stations will drive energy storage lithium iron phosphate. Battery demand is rising.
Competitive landscape : Among Chinese energy storage battery manufacturers in 2021, CATL’s energy storage business revenue will reach 13.69 billion yuan, total operating income will be 130.4 billion yuan, and energy storage business will account for 10.5%, which is the largest in the entire energy storage lithium battery industry, including the energy storage battery industry. leading companies. BYD’s energy storage business accounts for a relatively small proportion, only about 3%, but the overall energy storage business revenue is relatively high, at 5.5 billion yuan. In 2021, both Sungrow and Narada’s operating income will exceed 10 billion yuan, and Sungrow’s energy storage business will account for a higher proportion. The overall operating income of Paine Energy is small, but the energy storage business accounts for a high proportion, reaching 96.4%. The overall energy storage battery industry is highly concentrated, and leading companies occupy a large market share. Leading lithium battery companies have multiple advantages in terms of capital, technology, and resources in the layout of energy storage business.
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