Current statistics reveal that as of July this year, the capacity of the lithium power (energy storage) battery industry has reached nearly 1,900 GWh in China. However, the actual utilization rate of lithium power (energy storage) batteries is reported to be less than 50%.
In a highly anticipated release, Black Hawk PV has disclosed the top ten rankings of Chinese energy storage manufacturers for 2023. Leading the pack is CATL with an impressive 38.50% market share and a robust shipment volume of 50 GWh.
However, the actual utilization rate of lithium power (energy storage) batteries is reported to be less than 50%. To tackle overcapacity challenges, industry leaders like CATL, BYD, and EVE Energy are strategically expanding globally. These companies have secured top positions in the global energy storage battery market.
Chen Xuesen, Vice President of the China Nonferrous Metals Industry Association, attributes this trend to new production capacities and a deceleration in downstream demand growth. The reduction in lithium carbonate prices is mirrored in the decreasing costs of battery cells, fostering oversupply and heightened price competition.
Over 78 energy storage lithium battery-related projects have been planned nationwide, representing a significant investment of CNY 569.861 billion and a planned construction capacity of approximately 1.4 TWh. Renewable energy installations coupled with energy storage systems.
As we approach the end of 2023, the energy storage industry is undergoing a transformative journey, marked by significant shifts in market dynamics, fluctuations in raw material prices, and ambitious global expansion strategies.
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