China-based companies Sungrow and Eve Energy are seeing substantial growth in their energy storage product shipments.
Inverter and battery energy storage system (BESS) manufacturer Sungrow shipped 10.5GWh of BESS in 2023, it revealed in its annual report yesterday (25 April). The company buys third-party battery cells and assembles them into its Powertitan grid-scale BESS product.
Although its release didn’t clarify the year-on-year growth that the 10.5GWh figure represented, in 2022, it reported 7.7GWh of BESS shipments, indicating growth of around 36% year-on-year.
Eve Energy, meanwhile, manufactures battery cells for energy storage and has its own BESS products. Over the course of 2023, the company shipped 26.29GWh across both. The company also has ‘power battery’ and ‘consumer battery’ divisions.
In Q1 2024, Eve’s energy storage shipments grew 113% to 7.02GWh, and for the full year, the division is set to reach 50GWh of shipments.
The company said that 60-70% of its energy storage shipments are to the overseas market. That is part of a trend of China-based BESS providers increasingly gaining global market share.
