According to InfoLink Consulting, o world You sent 196,7GWh of cells from storage de the energy in 2023, with utility-scale and C&I (Commercial and Industrial) projects representing 168,5 GWh and 28,1 GWh, respectively.
O segment fell short expectations in the fourth quarter, resulting in a weak peak season, with quarter-on-quarter growth of just 1,3%, according to the consultancy.
As top five companies who sent the most last year were CATL, BYD, EVE Energy, REPT BATTERO e Hithium. CATL led with shipments exceeding 70 GWh. BYD and EVE Energy followed closely each with shipments of more than 25 GWh, while REPT BATTERO and Hithium were in fourth and fifth place, each with shipments of more than 15 GWh.
Despite intense price competition, leading companies have demonstrated significant advantages in cost control. CR5 in 2023 reached 76,7%, compared to 68,7% in 2022, indicating a substantial increase in industry centralization among leading companies.
According to InfoLink, top six to ten manufacturers send less de 10 GWh each. CR10 in 2023 reached 92%, up from 86,7% in 2022, meaning significantly greater centralization of the industry.
In addition, shipments de cells de storage of energy from Samsung SDI e LG totaled almost 14GWh in 2023, translating into a slightly lower market share of 7%.
Utility-scale
For utility-scale projects, CATL, BYD, EVE Energy, Hithium and REPT BATTERO were the ones that sent the most in 2023. CATL sent more than 65 GWh and the rest less than 22 GWh.
“With storage cell prices reaching 0,4 RMB/Wh at utility scale, leading manufacturers with superior cost control capabilities and financial advantages are better able to afford R&D (Research and Development) of cell technology cutting-edge”, they reported.
In addition to capacity improvement and customer verification, major manufacturers have introduced large-capacity cells with stacking technology while working on system integration on the DC side, “hoping to break through the bloody price war and pursue differentiation amid to the intense competition in the industry”.
Small-scale projects
As for small-scale energy storage projects, CATL, REPT, EVE Energy, BYD and Great Power submitted the most. The top five list remained unchanged for the first three quarters of 2023. CR5 rose 0,4% from 84,7% in the first three quarters to 85,1% throughout the year.
“Tier 1 manufacturers faced intense competition. CATL (including Ampace) held a 26,3% market share. Market shares from the second to fifth range fell 12-17%, indicating an increasingly fierce rivalry,” InfoLink noted.
Due to inventory adjustments throughout the year, the small-scale energy storage sector saw slower growth than in 2022, with an annual increase of 27,7%, far below expectations. Currently, inventory depletion will continue until 1Q24 or 2Q24. Actual shipments will recover by the end of 2Q24.
In 2023, political changes, depletion of stocks, raw material prices and excess capacity have resulted in a mismatch between supply and demand and a fluctuation in market sentiment, according to the consultancy.
“Despite a 150% YoY increase in global storage facility, shipments only increased 60% YoY during a correction. InfoLink sees global installation increasing by 50% to 165 GWh and energy storage cell shipments by 35% to 266 GWh in 2024,” they concluded.
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