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According to data provided by InfoLink, the global shipment scale of energy storage cells reached 196.7 GWh in 2023, with large-scale commercial and industrial energy storage and household energy storage accounting for 168.5 GWh and 28.1 GWh, respectively. The market conditions in Q4 were significantly below expectations, showing a lackluster performance during what is traditionally a peak season, with a quarter-on-quarter growth of only 1.3%.

The top five companies in total shipments in 2023 were CATL, BYD, EVE Energy, Rept Energy, and Hithium. The dominance of leading manufacturers almost remained unchanged, with CATL maintaining its position as the leader with shipments exceeding 70 GWh. BYD and EVE Energy, ranking second and third respectively, both had shipments of over 25 GWh, while Rept Energy and Hithium, ranking fourth and fifth, had shipments of over 15 GWh each. Against the backdrop of intense price competition, leading companies demonstrated significant cost control advantages, leading to a situation where the strong became stronger.

The CR5 for the full year of 2023 reached 76.7%, compared to 68.7% in 2022, indicating a significant increase in industry concentration among the top players. The shipments of companies ranking from sixth to tenth were all within 10 GWh, with the CR10 for the full year of 2023 reaching 92%, compared to 86.7% in 2022, indicating a notable increase in the overall industry concentration. In addition, South Korean companies Samsung SDI and LG’s energy storage cell shipments totalled nearly 14 GWh for the full year, with their combined market share slightly decreasing to 7%.

Source: WeChat Official Account—InfoLink Consulting

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