The South Korean research organization SNE Research has released the latest data on the installation volume of power Batteries. From January to October this year, six Chinese power Battery manufacturers ranked among the top ten globally, all with double-digit growth rates. From the perspective of overseas markets, as the scale of Chinese auto exports increases and cooperation with overseas automakers deepens, it is expected that the market share of China's power Battery manufacturers will further increase.

Data shows that from January to October this year, the global installation volume of power Batteries for electric vehicles reached 686.7 GWh, a year-on-year increase of 25%.

Among them, six Chinese power Battery companies ranked in the top ten globally, including Contemporary Amperex Technology, BYD, Gotion High-tech, Zhongchuang Xinhang, Eve Energy Co., Ltd., and Sunwoda Electronic, with an average growth rate of 31.7%.

In terms of market share, the combined market share of these six companies is 65.5%, far exceeding that of Japanese and South Korean companies.

Compared with the same period last year, the market share of all six Chinese companies has either increased or remained stable, with a total market share increase of 2.7% year-on-year.

So far this year, against the backdrop of slowing growth in the power Battery market, the energy storage sector has emerged as the second growth pole for lithium battery companies.

As a key player in improving the cost-performance ratio of energy storage systems, Battery manufacturers have focused on critical Indicators such as large capacity and high cycle. Currently, the 300Ah+ storage Cells represented by 314Ah have become mainstream, and large Cells have become a 'battleground among competitors.'

In the first three quarters of this year, the energy storage sector maintained a high boom, with the newly added installed capacity of new energy storage nationwide reaching 27.13 million kilowatts/61.13 million kilowatt-hours (61.13GWh). As of the end of September, the newly built operational new energy storage capacity nationwide was 58.52 million kilowatts/0.128 billion kilowatt-hours (128GWh), an increase of about 86% compared to the end of 2023.

According to the latest research by TrendForce, reported by Zhito Finance APP, in November 2024, China's electric vehicle sales continued to grow, driving the demand for power batteries, with the price of lithium iron phosphate (LFP) Cells remaining stable and the price of ternary Cells slightly declining.

The demand for Cells in the energy storage market maintains a seasonal peak characteristic. Coupled with the price advantage of large capacity Cells, the shipment share has increased; however, due to the slowdown in order demand at the end of the year, the average price of energy storage Cells continued to decline in November.

Relevant Hong Kong stocks in the energy storage Sector:

BYD (01211): In 2023, BYD's global energy storage system shipment reached 28.4GWh, including 10GWh in China and 18.4GWh overseas, accounting for over 60%. According to data released by InfoLink Consulting, BYD ranked second globally in terms of shipment volume of storage Cells above 25GWh in 2023.

Zhongxin Innovation Navigation (03931): In August, Zhongxin Innovation Navigation launched a storage-specific Cell using third-generation stacking technology with an energy density of over 440Wh/L, capable of achieving over 6.8MWh in a standard 20-foot container.