New energy industry continues to develop, energy storage demand incremental considerable
First, the industry chain: raw material supply capacity continues to expand, and market demand growth prospects are promising
The upstream of the battery energy storage system is the four major battery materials and related equipment, namely positive electrode material, negative electrode material, electrolyte, and diaphragm, while the midstream is the production of energy storage battery and energy storage system integration. With the hot development of the new energy industry, the four major battery core materials have also developed rapidly, and shipments have shown high growth. The installed capacity of new energy generation in China's power structure the proportion continues to rise, which will cause the demand for energy storage batteries to continue to rise.
Second, the current state of development: high growth in energy storage battery shipments, enterprise competition presents "a super strong" situation
Under the dual drive of policy and market, China's energy storage battery shipments also achieved high growth, the first half of 2023 shipments of 87GWh, an increase of 67% over the same period in 2022. In recent years, China's enterprises have continued to increase research investment in the field of energy storage batteries, and have made great progress in related technologies, narrowing the gap between lifepo4 battery performance and ternary material battery performance, and the market demand for lithium iron phosphate is rapidly increasing. Ningde Times is China's leading energy storage battery industry, its shipments far exceed other enterprises.
Third, enterprise analysis: operating income continues to rise, energy storage battery gross margin rebound
CATL is the world's leading new energy innovation and technology company, with the hot development of the wind power market, the demand for the battery energy storage system continues to grow, CATL has also increased the development of the energy storage battery business, battery energy storage system revenue accounted for the proportion of total revenue has also risen. 2023 first half of the year, CATL energy storage battery system revenue continues to rise, In the same period, the gross profit margin also rebounded to 21.32%.
Fourth, the development trend: energy storage battery demand continues to grow, domestic and international market development synchronous promotion
In recent years China's large-scale wind power projects have started construction, with the commissioning of the project, energy storage demand will continue to rise, and China's energy storage battery demand continues to be strong. At present, the development of China's battery energy storage system has a good policy environment and full of vitality of the market demand, promoting the energy storage battery enterprises to actively expand production. With the continuous growth of supply capacity, China's energy storage battery market supply is sufficient and will promote enterprises to speed up the development of overseas markets.
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