Ternary Battery Cell Market Booms in Consumer Sector Amid Growing Demand

Published: Oct 29, 2024 20:06

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**[Analysis of Ternary Battery Cell Market in the Consumer Sector] With the development of markets for electric tools, electric two-wheelers, smart homes, and other sectors, the small power battery market is experiencing rapid growth. On the demand side, after experiencing a downturn and inventory reduction from 2022 to 2023, the electric tool industry has seen its supply chain inventory gradually return to a reasonable level since 2024, and current demand is relatively strong. On the supply side, according to SMM data, consumer battery cell production in 2024 is expected to reach 77GWh, with ternary consumer battery cells accounting for 57% of this output.**

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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