In 2023, the energy storage industry has experienced a "roller coaster" of booming and sudden cooling.
Recently, SMM announced the 2023 ESS cells output rankings. The list shows that CATL (SZ: 300750), BYD (SZ: 002594), and EVE (SZ: 300014) are among the top three, followed by REPT (HK: 00666), Hithium, and Gotion (SZ: 002074) and Envision followed closely behind, Great Power (SZ: 300438) and CALB (HK: 03931) tied for eighth, and Samsung SDI, a battery manufacturer from South Korea, was squeezed to 10th place.
In 2022, Japanese and Korean companies (mainly focusing on ternary battery energy storage) like Samsung SDI and LG New Energy entered the ranking list, especially SDI (fifth place), which is in the same echelon as EVE and REPT.
But by 2023, affected by the trend of replacing ternary iron with LFP Battey in the ESS market, only SDI is still on the list, and its ranking has also fallen to the bottom of the team. LG New Energy which was once very powerful, fell out of the top ten list.
In 2023, the SDI and LG energy storage cell market was mainly in the residential ESS markets in Europe and America, with some applications in the large-scale ESS markets in Europe, America and Australia. However, overall, the market share of Japanese and Korean ternary ESS cells is constantly shrinking, and the market outlook is expected to continue to reduce its market share.
Compared with the 2022 list, Hithium and Envision Power have increased significantly in the 2023 list. Hithium ranked eighth in 2022 and has ranked among the top five in 2023; Envision rose from tenth to seventh. In addition, CALB entered the top ten for the first time.
Affected by the chill in the residential ESS market, PYLONTECH and Great Power declined in the ranking of 2023. Among them, Great Power fell from sixth place to eighth place, and PYLONTECH fell out of the top ten from ninth place.
The decline in the ranking of China domestic companies does not mean that their business has deteriorated, but that competitors have developed too rapidly. This also indirectly shows that the overall development of the China domestic energy storage industry in 2023 was indeed very hot.
Overall, the market position occupied by the leading players has not changed significantly. In terms of market share, the top five companies account for as much as 75%, and market concentration is still increasing.
Whether it is the large-scale storage market or the residential ESS market, CATL's rank is at the forefront. While the energy storage business continues to expand, CATL has also subdivided its industries and handed over the company's residential ESS business to its subsidiary Ampace for execution. In 2023, Ampace's residential storage battery cell shipments reached 4-5GWh, and its market ranking is also at the forefront.
In the future, the pattern of the global energy storage battery market will further tend to be 'one super, many strong'. CATL's crushing lead still exists. Following closely by BYD, EVE, REPT, and Hithium...
It is worth noting that according to the recent market actions of several major manufacturers like EVE, REPT, and Hithium have all signed a large number of orders with overseas integrators, which means their recognition and customer stickiness are also increasing in overseas markets. In the future, it may further distance themselves from second-tier battery cell manufacturers, and the market advantage of leading companies will be further enhanced.
For more information, please contact cathycai@smm.cn
