Huaxia Energy Network & Huaxia Energy Storage (public number hxcn3060) learned that on February 21, InfoLinkConsulting released the 2024 global energy storage system shipment ranking and related data.

According to the data, the global energy storage system shipments will reach 240GWh in 2024, a year-on-year increase of more than 60%, and the growth trend is still on a high-speed track.

TOP10 on the exchange side: Chinese and American enterprises open on June Fourth

On the AC side, the top 10 global energy storage system integrators are Tesla, Sungrow (SZ: 300274), CRRC Zhuzhou Institute, Fluence, Hipostron (SH: 688411), Envision Energy, Powin, Nextera, Canadian Solar (SH: 688472), and Shandong Electric Times.

It can be seen that the list is completely divided between Chinese and American companies, with Chinese-funded companies occupying 6 seats and American companies occupying 4 seats. In addition to the close number of enterprises, the shipments of the two parties are almost evenly divided, and the overall situation is evenly matched.

This presents a completely different picture from the ranking of energy storage cell shipments

In the field of energy storage cells, Chinese companies occupy the top 9 of the list with an "overwhelming" advantage, and only leave the last place to South Korea's Samsung SDI (see Huaxia Energy Network's previous article: "Global Energy Storage Cell Top 10 Released: Chinese Enterprises Dominate the List, Korean Enterprises Only Samsung Bottom"). In the field of energy storage systems, Chinese companies cannot completely dominate the list, and American companies have super market competitiveness.

In terms of market, Chinese companies are not the same as those of the United States. The basic market of Chinese-funded enterprises is the domestic market, which is gradually extending overseas, while American enterprises are supported by the North American market and gradually expanding to Europe, the Middle East, Africa and the Asia-Pacific region. InfoLink predicts that in 2025, the frequency and intensity of head-to-head confrontations between Chinese and American manufacturers will continue to increase.

Among the top 10 companies, the top two companies are the most competitive, Tesla and Sungrow will win and lose each other in 2024, and the gap between the two sides in terms of shipment volume will continue to narrow - Tesla will take a significant lead in the first half of the year; In the second half of the year, Sungrow continued to exert force

In the third and fourth quarters, shipments surpassed Tesla.

After spending 2024, Tesla and Sungrow may stage a "life and death" chase in 2025.

Tesla has enough orders in reserve in 2024 and is more aggressive in its pricing strategy. Previously, Tesla's energy storage business was once constrained by insufficient production capacity, and in February this year, Tesla's Shanghai energy storage gigafactory was officially put into operation, with a production capacity of up to 40GWh, and Tesla also said that it is expected that the installed capacity of the energy system will achieve at least 50% year-on-year growth in 2025. This means that its competition with Sungrow will add another bargaining chip.

It is worth noting that in addition to the top 10, there are also many Chinese companies, including the wind power giant Goldwind Technology (SZ:002202), which has entered the energy storage track and opened up the second growth pole (its Goldwind zero carbon ranks 11th in the world); Trina Energy Storage, a subsidiary of PV giant Trina Solar (SH:688599), ranks 13th in the world.

China Electric Equipment Group established China Electric Equipment Technology Co., Ltd. in early 2024 by integrating its three subsidiaries, Xu Ji Electric Technology Energy Storage, Pinggao Energy Storage and Shandong Electric Times. After the integration, the shipment of energy storage systems has ranked first in the world: among the subsidiaries, Shandong Electric Times is the tenth in the world, Xu Jidian Technology is the twelfth in the world, and the total shipment scale of the three subsidiaries is comparable to the world's leading enterprises.

TOP5 on the DC side: all Chinese enterprises

The top 5 global energy storage system integrators on the DC side are CATL (SZ: 300750), BYD (SZ: 002594), Jingkong Energy, Haichen Energy Storage, and Yuanxin Energy Storage, all of which are Chinese faces.

CATL and BYD are in the "double hero" card position, and the shipment volume is significantly ahead. Compared with the first half of the year, all the 3-5 companies have changed.

In the first half of the year, the 3rd-5th places were Haibo Strong, Yuanxin Energy Storage and Nandu Power, while in the annual ranking, Jingkong Energy and Haichen Energy Storage jumped from outside the Top 5 to the third and fourth respectively, and Yuanxin Energy Storage slipped from the fourth to the fifth.

It is worth noting that CATL, BYD and Haichen Energy Storage are all leading companies in energy storage cells, and CATL and BYD are the first and third in global energy storage cell shipments respectively, and battery cell manufacturers are accelerating their penetration into the field of system integration.

CATL and BYD have taken mines and built factories overseas, continuously improving the global supply chain layout, and have formed a complete layout from upstream lithium resource development, midstream energy storage cell manufacturing to downstream energy storage system integration, and in 2025, these two giants may usher in greater breakthroughs on the AC side.

InfoLink believes that in 2024, the restructuring of the energy storage system will be accelerated, and leading manufacturers will continue to increase their market share by virtue of their advantages in cost control and channel resources. Under the multiple pressures of price involution and narrowing of financing channels, the living space of tail manufacturers has been seriously squeezed, and the industry clearance is in progress. While the market pattern is evolving, the global demand for energy storage has shifted from a single market to a multi-regional distribution. This diversified development forces manufacturers to build a global capability matrix of "R&D-production-delivery-operation and maintenance".

Despite the short-term disruptions caused by geopolitical and other factors, InfoLink expects system shipments to exceed 300GWh in 2025, driven by the rigid demand of the global energy transition, and energy storage system shipments will maintain a year-on-year growth rate of 25%.

(Please indicate the source for reprinting, article source: Huaxia Energy Network, WeChat ID: hxny3060).

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