In the first quarter of this year, the industry sent 38,82 GWh of energy storage cells, with centralized generation projects and C&I (Commerce and Industry) representing 89,5% of this total.
Small-scale projects totaled 4,07 GWh, according to the company's lithium-ion battery supply chain database. InfoLink.
The top five manufacturers in terms of battery shipments were CATL, EVE Energy, REPT BATTERO, BYD and Hithium.
These manufacturers, along with CALB and AESC, also showed significant growth, securing a combined market share of 19,6%, an increase of 15,3%. On the other hand, Samsung SDI and LG recorded slight drops, accumulating just 6,3% market share.
According to InfoLink, the top ten battery manufacturers in the first quarter of 2024 have been mentioned. In utility and C&I projects from January to March this year, the top five manufacturers were CATL, EVE Energy, REPT BATTERO, Hithium and BYD.
CATL shipped more than 13 GWh, while other manufacturers shipped between 2 and 5 GWh. During this period, the utilities and C&I sectors continued to grow 10,3% year on year.
The market penetration rate for products with a capacity greater than 300 Ah was 22% in the first quarter, still far from the 50% achieved in the fourth quarter of 2023.
In small-scale projects, the top five manufacturers in the first quarter were EVE Energy, REPT BATTERO, BYD, Ampace and Great Power. EVE Energy led the way with a market share of over 30%, closely followed by REPT BATTERO with almost 20%.
BYD, Ampace and Great Power occupied the third to fifth position, with market shares varying between 7% and 10%.
“Most small-scale projects are residential. As purchases from residential systems integrators do not show significant increases, the small-scale sector is not expected to see a recovery,” InfoLink said.
After strong growth at the end of 2023, the market cooled for adjustments in the first quarter of this year. InfoLink expects cell shipments to increase again in the second quarter of 2024.
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