On August 8, InfoLink's global lithium battery supply chain database was released. According to
the database, the global energy storage core shipment scale of 2023H1 reached 91.6 GWh, of which the large and small storage were 75.7 GWh and 15.9 GWh respectively, the Q2 ring-to-ring growth rate was only 11%, and China's demand in the three major markets maintained a high growth rate. Demand in Europe and the United States is slowing down due to inventory pressure and high interest rates, but it is expected to recover at the end of Q3.
The total shipment TOP 5 enterprises are Ningde Times, BYD, Yiwei Lithium Energy, Ruipu Lanjun and Xiamen Haichen, with the shipment scale above 5 GWh and CR5 reaching 69.3%. The shipment scale of six to ten enterprises falls between 3-5 GWh, and CR10 reaches 90%. The market share of Ningde Times dropped from 41% in the whole year of last year to 33% in 2023H1. Not only did price competition and European and American inventories affect the shipments of leading enterprises, but also the pattern of seizing the Chinese market became more intense due to factors such as the expansion of production in the same industry and the outbreak of the Chinese market, which put more pressure on enterprises with a large proportion of overseas market shipments. In addition, the total shipment size of Korean Samsung SDI and LG's ternary energy storage batteries in the first half of the year was about 7 GWh, while LG's shipments slightly recovered, accounting for about 7.6% of the total. In
the large storage part, except for Ningde's shipment of more than 25 GWh, the other four enterprises are all between 5-10 GWh. BYD, relying on the release of blade battery capacity and the launch of Rubik's Cube, has gradually increased its market share by relying on the cost advantage, and has the opportunity to increase from about 10% last year to more than 14%, which has brought an impact on the market price. At the same time, Yiwei Lithium Energy, Ruipu Lanjun, Xiamen Haichen and other battery enterprises have expanded production to seize the market, and the price war of China's energy storage battery below 0.5 RMB/Wh in the second half of the year can be foreseen.
Small storage part, last year, the European market was hot, the shortage of supply and demand and the shortage of installation workers caused a large number of integrators, distributors and installers to accumulate high inventory after pulling goods. In the first half of this year, although the installation situation was good, the market was still in the stage of destocking, which made the overall installation scale maintain optimistic growth, but the strength of pulling goods was significantly weakened. There is little difference in the shipment scale of the top five enterprises, which is about 2-4 GWh. In the second half of the year, with the improvement of the inventory situation, it is estimated that the shipment situation will turn better, and the annual small storage and shipment scale will exceed 30 GWh. In the
first half of this year, the energy storage market was affected by policy, price, supply chain and destocking, resulting in a swing in market sentiment and demand, and the growth rate of shipments declined significantly compared with last year. InfoLink Global Lithium Battery Supply Chain Database estimates that the overall scale of battery shipments this year is 210 GWh. Among them, large storage 175 GWh, small storage 35 GWh , and if the existing batteries in the past can not be digested in time, or the installed capacity can not keep up, the decline in the speed of battery shipment in 2024-2025 will be more obvious.
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