2024 Global ESS Battery Cell Shipments Surge to 334GWh, with Chinese Enterprises Dominating

Authoritative Analysis by SMM

In 2024, the global ESS market continued its rapid growth trajectory, driven by both policy support and market demand. According to SMM statistics, global ESS battery cell shipments saw significant YoY growth in 2024, reaching 334GWh for the year, with LFP ESS battery cell shipments accounting for 317GWh. Chinese ESS battery enterprises performed remarkably, achieving record-high shipments in the global market. CATL maintained its top position for consecutive years, followed closely by companies like EVE, Hithium, and BYD.

CATL: With an absolute advantage, CATL continued to secure its top position, achieving substantial growth in global ESS battery shipments compared to the previous year. The company strengthened its market share through continuous innovation in battery technology and deep collaborations with premium overseas clients such as Tesla and Nextera. Additionally, CATL actively expanded its capacity to meet the rapidly growing demand in the ESS sector.

EVE: EVE's strategic layout in the ESS sector yielded significant results, ranking second globally in ESS market shipments in 2024. Leveraging its technological advantages and product reliability, EVE secured numerous orders in 2024, with shipment growth exceeding 70%, outpacing the industry. The company also actively deployed ESS capacity in Malaysia and signed agreements with leading overseas clients, further solidifying its competitiveness in the global ESS sector.

Hithium Energy Storage: For the first time, Hithium entered the top three in global ESS battery shipments. As a company focused on the ESS sector, Hithium achieved remarkable breakthroughs through continuous investment in technology R&D and market expansion. In 2024, Hithium prioritized the North American market, establishing strategic partnerships with multiple local owners in the US, providing strong momentum for shipment growth in 2024 and laying a solid foundation for its global ESS market share.

BYD: In 2024, BYD ranked fourth globally in ESS market shipments. BYD not only performed strongly in the domestic market but also achieved significant breakthroughs in overseas markets. In Chile's Oasis de Atacama project, BYD expanded its collaboration with Spanish independent power producer Grenergy Renovables, increasing the total ESS capacity from 1.1GWh to 3GWh. Additionally, at the start of 2025, BYD won a BESS project from Saudi Electricity Company with a total installed capacity of 2.5GW/12.5GWh, laying the groundwork for its 2025 shipments.

REPT: In 2024, REPT leveraged its technological strength in lithium-ion ESS batteries to secure orders for multiple utility ESS projects in China and established collaborations with global ESS integrators like Powin, further consolidating its position in the international market. Moreover, at the start of 2025, REPT announced its first overseas factory in Indonesia. The factory will focus on the R&D, manufacturing, and sales of lithium batteries, components, modules, and battery packs. The establishment of the Indonesian factory will enhance REPT's global customer service capabilities.

CALB: As the first company to achieve large-scale, stable delivery of 314Ah ESS battery cells, CALB leveraged the rapid market entry strategy and cost-effectiveness of its 314Ah product to secure major clients such as Sungrow, CRRC Zhuzhou Institute, Xuji Electric, and Goldwind. Shipments increased significantly, and CALB plans to deepen collaborations with leading integrators to prepare for shipment growth in 2025.

AESC: AESC stood out in overseas markets with its leading technology and global industrial layout, ranking among the top in shipments. AESC has established 13 manufacturing bases and multiple R&D and engineering centers in China, Japan, the US, the UK, France, and Spain. It has also formed strategic partnerships with leading overseas ESS integrators such as Fluence, Powin, and Nidec, covering core and emerging markets in Asia, North America, Europe, Australia, and Southeast Asia, showcasing strong growth potential and industry influence.

Gotion High-tech: In 2024, Gotion High-tech made significant progress in the ESS sector, with ESS business becoming a new growth driver for the company. Gotion performed exceptionally in overseas markets, signing ESS project orders with multiple international clients, including a 2GWh ESS project with a US client and a partnership with an Australian new energy developer, with future cooperation expected to exceed 4GWh.

Great Power Energy: In 2024, Great Power Energy's ESS business developed steadily, with its Fengpeng 314Ah battery cell, Polar low-temperature household ESS battery cell, and Great series for commercial and industrial ESS performing exceptionally well. On the client side, both utility and household ESS maintained deep collaborations with leading integrators. In overseas ESS markets, breakthroughs were achieved in North America, Europe, and the Belt and Road regions, with multiple GWh orders in hand. Projects scheduled for 2025 are expected to surge. Additionally, the smart energy commercial and industrial ESS segment saw impressive growth in 2024, with shipment growth nearing 150%.

Sunwoda: In 2024, Sunwoda achieved significant breakthroughs in the ESS sector. With its excellent product quality and service, the company successfully integrated into the supply chain systems of leading integrators such as Sungrow and CRRC. Building on this foundation, Sunwoda actively expanded its overseas presence, successfully entering the Australian market and signing a 1.6GWh ESS project cooperation agreement with Australia's Gryphon Energy. Sunwoda's ESS business saw substantial growth in shipments and market share, entering the industry's top ten for the first time.

Overall, in 2024, whether it was power battery enterprises like CATL or ESS-focused companies like Hithium, Chinese new energy enterprises performed outstandingly in global market shipments, showcasing China's strong capabilities and global influence in the battery sector. Compared to 2023, CATL's leading position remained stable, while companies like EVE and Hithium climbed the rankings. With the continued growth of the global ESS market, Chinese ESS battery enterprises are expected to maintain their leading position in the future, driving the development of the global ESS industry.

About SMM

SMM Information & Technology Co., Ltd. (hereinafter referred to as SMM) is a leading independent third-party comprehensive service provider in China's metal industry chain, specializing in information, exhibitions, and research consulting. Its website is a leading metal information portal in China, with a large customer base, rich data and information, and unparalleled traffic in the metal industry.

The SMM 2024 ESS Battery Cell Shipment Rankings were compiled by an experienced team of analysts with over 10 years of expertise, providing highly valuable insights.

SMM publishes daily domestic and international spot prices (SMM prices) for thousands of metal products, including base metals, steel, iron ore, precious metals, minor metals, recycled metals, metal powders, metal compounds, processed materials, alloys, and rare earths. These prices have become authoritative spot benchmarks and are certified by the International Organization of Securities Commissions (IOSCO). SMM's platform matrix has over 3 million registered users, with daily UVs exceeding 350,000, making it the preferred platform for industry professionals for price inquiries, information gathering, brand promotion, and business cooperation.

Exhibition Recommendation

CLNB 2025 New Energy Entire Industry Chain Expo

The exhibition will feature six major zones, with over 1,300 domestic and international exhibitors showcasing their products! The event will focus on the entire new energy industry chain, displaying areas such as power batteries, ESS, raw materials, materials, equipment, mining, and battery recycling, providing a one-stop exhibition experience.

Date: April 16-18, 2025

Venue: Suzhou International Expo Center