GTJA stated that products such as the 4680 large cylindrical battery and solid-state battery will enter large-scale production with broad market prospects.
Recently, EVTank and the Ivy Economic Research Institute jointly released the "China Large Cylindrical Lithium-ion Battery Industry Development White Paper (2024)". According to EVTank's statistics, the actual global shipments of large cylindrical batteries in 2023 were less than 50 million, mainly contributed by Tesla, with only a small amount of shipments from domestic enterprises EVE Energy and Faraday.
Looking ahead, EVTank predicts that the global shipment of large cylindrical batteries will exceed 5.5 billion by 2030, with the main application scenarios still being new energy vehicle power batteries, accounting for over 70%.
At the 2023 High-Tech Lithium-Ion Battery Annual Meeting, Gotion High-Tech Power Industry (Group) Co., Ltd. unveiled the "2023 China Large Cylindrical Lithium-ion Battery Industry Development Blue Book". As of October 2023, the global production capacity of large cylindrical batteries has exceeded 450 GWh. Currently, the 46-series large cylindrical full-pole ear battery has been put into mass production overseas, and is in the small batch shipment and sample delivery stage domestically.
Overseas, large cylindrical batteries are used mainly in the power sector, while in China, grid-level energy storage is the primary application with power applications expected to follow suit after H2 2024.
Institutions predict that the global shipment of large cylindrical batteries will grow 35 times from 2022 to 2027, and that the Chinese market for large cylindrical battery production equipment will grow more than 14 times during this period.
GTJA stated that products such as 4680 cylindrical battery and solid state battery will go into mass production with promising market potential.
HTSC believes that while large cylindrical batteries have been slow to be adopted, breakthroughs in manufacturing processes will help increase production capacity. From Q4 2023, there have been bullish signals released at the enterprise level, and it is recommended to continue to follow the progress of this sector.
Enterprises related to large cylindrical lithium-ion batteries:
In 2023, CITIC Innovation Industry released the flagship large cylindrical battery. The battery was developed through their self-made structure and chemical system. Using top flow structure and "polarity" electrolyte technology, its internal resistance decreased by 50% compared to full-pole ear structure, and its energy density can reach 300Wh/kg, achieving 6C+ fast charging. CITIC Innovation Industry management announced at the Global Partners Conference that in Q4 2024, their semi-solid state battery will be installed in a foreign deluxe vehicle, which can achieve a charging time of 10 minutes and a range of 500km, and can achieve a maximum range of 1000km. In Q4 2024, the 46 series 6C charging rate large cylindrical battery will be put into mass production. The 5C battery which can be charged to 80% in 10 minutes will also be mass-produced and installed in a high-end car brand in 2024.