In 2023, the energy storage lithium battery industry has experienced significant changes in areas such as technology, price, and industry structure.

The 2023 Blue Book on the Development of China's Energy Storage Lithium Battery Industry, developed by High Tech Industries, was released at the recently held 2023 High Tech Energy Storage Annual Conference.

In this blue book, GGII statistics show that the cumulative shipment volume of China's energy storage lithium batteries in the first three quarters of 2023 was about 127 GWh, with a year-on-year growth rate of nearly 50%. However, the shipment volume in the third quarter decreased by about 23% compared to the previous quarter. The expected annual shipment volume has been revised and lowered to 180 GWh, which is about 22% lower than the expected target of 230 GWh at the beginning of the year.

Due to the expectation of less urgent market demand and the increase of new entrants in the industry, the price competition of energy storage products is fierce. Starting from the second half of the year, some systems and batteries have won bids or transaction prices have fallen below the cost line, and the industry's internal competition has reached its peak. The most powerful example is that the price of battery cells dropped from 0.5 yuan/Wh to 0.4 yuan/Wh in just half a month.

According to GGII statistics, from the perspective of segmented applications of energy storage lithium batteries, the growth rate of power storage/communication energy storage has slowed down, and the demand for household/portable energy storage is weak. For the industrial and commercial energy storage track, it is expected that the scale of China's industrial and commercial energy storage shipments will increase by more than 200% year-on-year in 2023.

From the perspective of competitive landscape, the concentration of battery cell enterprises has further increased from Q1 to Q3 of 2023. In terms of specific shipment volume, the market share of Ningde Times has decreased, while Haichen Energy Storage, BYD, Yiwei Lithium Energy, Guoxuan High tech, Penghui Energy and others have continued to increase their market share due to the rise in overseas business.

According to GGII statistics, from January to November 2023, the cumulative number of signed orders between domestic battery companies and overseas customers has exceeded 150GWh. The trend of "Made in China" for global energy storage cells is becoming increasingly evident. Especially in the year 2023 with severe internal competition, the global penetration rate of energy storage cells is accelerating to break through. Li Bingwen, Director of Energy Storage Business at the Strategic Management and Investment Department of Trina Solar, also stated that China's global position in energy storage cells is becoming increasingly stable.

A noteworthy phenomenon is that battery cell companies are accelerating their entry into the integration field. For example, companies such as BYD, Haichen Energy Storage, Ruipu Lanjun, Penghui Energy, Ningde Times, and Nandu Power have won bids at the forefront of the industry, accelerating their competition with system integrators.

Among the "5MWh+" energy storage system enterprises listed in the statistics of Gaogong Energy Storage, there are a number of battery cell enterprises such as CATL, Haichen Energy Storage, Zhongchuangxin Aviation, and Xinwangda.

Specifically, it is not difficult to find that the 2023 energy storage lithium battery track has the following characteristics.

1. The application and segmentation scenarios are constantly expanding, and the certainty of the track is becoming stronger. The application of balcony energy storage and industrial and commercial energy storage is constantly being explored. The global mainstream energy storage market is constantly expanding.

From the perspective of overseas markets, the reform efforts of mainstream electricity markets such as China, the United States, and Europe are accelerating, and the position of energy storage entities is becoming more clear; The demand for energy storage in emerging markets such as South America, Southeast Asia, and South Africa is constantly releasing, and the demand for energy storage lithium batteries is becoming increasingly strong.

From the perspective of the domestic market, the construction of the spot market and the national unified electricity market is accelerating, and independent energy storage is beneficial