For the first time, Chinese energy storage enterprises have won the first place in the global market share, indicating that China's energy storage technology and products have been recognized in the global market. It also means that the brands of domestic energy storage system integrators have gradually gained the trust of overseas manufacturers. According to the latest statistics from Wood Mackenzie, a global consulting firm, Sungrow Power ranks first in the world with a 16% global market share of Battery Energy Storage Systems (BESS), marking the first time a Chinese company has achieved this achievement. In addition, Huawei and BYD, both Chinese companies, rank fourth and fifth globally with a 9% share. The success of these Chinese enterprises highlights China's strength and influence in the field of energy storage.

The first domestic energy storage enterprise to win the first global market share means that the global market recognizes China's energy storage technology and products, and it also means that the domestic energy storage system integrator brand is gradually gaining recognition from overseas manufacturers. In terms of market structure, the energy storage market is shifting from overseas oriented to domestic enterprise led, "said Long Zhiqiang, a senior researcher at Xinlun Information.

In terms of industrial chain layout, Deng Wei, Chief Analyst of Huafu Securities New Energy, believes that the domestic industrial chain layout is relatively complete, from upstream raw materials to midstream energy storage converters (PCS), battery systems (BMS), and energy management systems (EMS) There is a relatively complete industrial chain system in China, with a complete supply chain, sufficient competition, and excellent product quality, from the downstream integration stage to the other stages. In addition, thanks to the good ecology of the domestic new energy industry, the leading development of new energy vehicles and photovoltaics has established a leading position in energy storage from the beginning, and domestic energy storage products are more competitive worldwide.

Previously, the energy storage industry mostly used ternary lithium batteries. In recent years, China's new energy vehicles have developed rapidly, and the cost of lithium iron phosphate batteries has rapidly decreased. The performance of batteries has gradually become comparable to that of ternary lithium batteries. In addition, lithium iron phosphate batteries themselves are better than ternary lithium batteries in terms of safety, and lithium iron phosphate batteries are gradually replacing ternary lithium batteries as the preferred solution. Some domestic enterprises have switched early in technology selection, seizing the opportunity, "said Long Zhiqiang.

At present, domestic energy storage enterprises are mainly concentrated in Europe, North America, and Australia in their overseas layout, and the layout of Africa and Asia Africa Latin America is also gradually improving. Deng Wei said, "In the electrochemical energy storage market, based on the new installed capacity data in 2022, the proportion of new installed capacity in China, the United States, and Europe is 36%, 24%, and 26% of the global total installed capacity, respectively. China, the United States, and Europe are still the main force in the new increment of energy storage.

However, there are differences between overseas markets and domestic demand. From the perspective of market characteristics, China mainly focuses on large energy storage, supplemented by some consumer side industrial and commercial energy storage. The energy storage market in the United States mainly focuses on large energy storage, supplemented by industrial and commercial energy storage and household energy storage, while Europe is the main market for household energy storage. Exported energy storage products are generally adjusted according to the local electricity market and electricity consumption habits, and the European and American regions will adjust their energy storage based on the electricity market We need to add some VPP and other interfaces to cooperate with auxiliary services and electricity trading on the EMS end Deng Wei further stated that.

In addition, the price sensitivity of overseas markets is also different from that of domestic markets. Cost is more important domestically, while performance is more important abroad. Long Zhiqiang said, "There are still certain difficulties in increasing the frequency of use of energy storage products in the domestic market, and the industry is still in the stage of cost competition. However, the price elasticity space in the overseas market is relatively large, and customers are not as sensitive to prices as in China. The high gross profit margin when going abroad makes high-end products more suitable for going abroad. This requires energy storage companies to accumulate good knowledge in terms of brand, project revenue, and historical performance.

Looking ahead to the next 10 years, the two most core markets in China and the United States can each reach a market size of over 700 gigawatts per hour, while Europe is only about one-third of the market size in China and the United States. Therefore, if companies want to reach the forefront of the energy storage industry, they need to closely focus on the two markets, taking into account the European market. To gain recognition in overseas markets, building a brand is the key. Most of the household storage needs in Europe and the United States, similar to household purchases of cars or appliances, have a The characteristics of certain consumer goods make the value of a brand more important, and well-known brands are usually more likely to gain consumer trust. This is also the reason why Sunshine Power, which has been very successful in brand building, can achieve market share first Peng Peng said.

Deng Wei believes that different enterprises can leverage their own advantages to market in different regions. For example, companies with overseas layout of industrial emergency power sources can focus more on industrial and commercial energy storage and household energy storage on the user side, while companies with overseas experience in new energy power stations such as photovoltaic power stations can focus their efforts on the overseas large storage market. In addition, the development of enterprises will be adjusted according to their own product layout and downstream needs, and the future application scenarios of energy storage systems will definitely become more diverse. Keywords: engineering construction, engineering news, engineering construction information

Overall, due to the fact that the global energy storage market does not have such a large volume as the photovoltaic market, domestic enterprises currently have limited energy storage capacity overseas. However, with the implementation of the US Inflation Reduction Act The introduction of similar laws will have a strong restrictive effect on some equipment exported from China to the United States, and will also encourage future energy storage companies to expand their production capacity overseas. Previously, companies such as TSMC had already transferred some production capacity to the United States, but the progress in building factories in the United States was not smooth, which greatly tested the comprehensive capabilities of the enterprise Peng Peng said. (This article is from the official website of Jiandao: www.seetao.com. Reproduction is not allowed without permission, otherwise it will be punished. Please indicate the link between Jiandao and the original text when reprinting.) Jiandao Machinery Editor/Zhou Yingwen