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Lifepo4 battery manufacturing industry in the first half of the bright data for energy storage with lithium iron phosphate "a horse in the lead"

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On July 17, the National Bureau of Statistics spokesman Fu Linghui at the State Council press conference, the first half of 2023, above-scale Lifepo4 battery manufacturing value-added growth of 29.7% year-on-year. Lifepo4 batteries, solar batteries, and electric passenger vehicles as the representative of the "new three" products export growth of 61.6%.

Shanghai Securities News reporter learned from several listed companies in the Lifepo4 battery industry, in addition to the previous power battery applications, energy storage has become a new strong growth point for lifepo4 battery applications. In particular, benefiting from the rapid development of energy storage, the lithium iron phosphate route of Lifepo4 battery industry segments is growing rapidly.

Prospects for the development of the energy storage industry, several companies and industry insiders have said that the continuation of the first two years of rapid growth, the next 3 to 5 years, the energy storage industry as a whole still has a very substantial growth rate.

Energy storage to boost the rapid development of lithium iron phosphate

"The growth of the lithium battery industry in the first half of the year mainly benefited from the electrochemical energy storage driven by Lifepo4 battery demand grew significantly." For the data released by the National Bureau of Statistics, a lithium battery cathode materials listed company executives said.

Anda science and technology secretary Li Jianguo said to the reporter: "The National Bureau of Statistics released this growth rate data in the expected, from the volume, the incremental increase is still the power battery; but from the growth rate, the battery for energy storage is growing faster." For the use of lithium iron phosphate products sold to customers, Li Jianguo frankly said that in most cases, the company can not distinguish between customers who are used in the power sector or energy storage. But intuitively, he felt that customers for energy storage orders are becoming more. At the same time, the importance of customers on the storage of lithium iron phosphate materials significantly increased.

The head of the lithium iron phosphate enterprise Hunan Yuneng said the lithium iron phosphate products in the energy storage market demand are strong. Hunan Yuneng in the May 17 announcement of the investor research minutes, said energy storage lithium iron phosphate product shipments increased significantly, and have become the company's fast-growing product type. Previously, Hunan Yuneng also said, with the rapid growth of energy storage market demand and the company's capacity to increase size of the company, the company more actively promotes energy storage type lithium iron phosphate products.

Lifepo4 battery industry research organization GaoGong Industrial Research Institute data show that in the second quarter of this year, lithium battery (power + energy storage) shipments grew 22.5%, of which 17.6% growth in power batteries, energy storage batteries grew 40%, energy storage growth rate is significantly higher than the growth rate of power batteries.

Public information shows that at present, in the domestic electrochemical energy storage market, ternary materials due to safety issues are banned, new materials such as sodium-ion batteries are still in the small batch demonstration applications, and lithium iron phosphate occupies the vast majority of the energy storage market. Therefore, the rapid growth of electrochemical energy storage in the first half of the year, synchronized with the growth of Lifepo4 battery. According to the China Battery Industry Association Energy Storage Branch statistics, in the second quarter of 2023, up to 76% of the energy storage projects in the bidding, as much as 76% of the use of lithium iron phosphate battery energy storage.

GaoGong Industrial Research Institute also said that in the first half of the first half the power battery head of the energy storage business accounted for a gradual increase in the proportion of battery companies tilting their business to the energy storage industry.

Energy storage explosive growth continues

In fact, in the last two years, the energy storage industry are in a period of rapid growth. Looking ahead, can the energy storage industry continue such rapid growth momentum?

"The industry is so hot that demand has increased three to five times." Referring to the boom in energy storage, senior PV practitioners told reporters that this year, industrial and commercial energy storage growth is particularly obvious, many companies' revenue increased several times year-on-year. Mecoxen energy chairman Wei Qiong recently said publicly, preliminary estimates of the company's first-half performance year-on-year growth of 3 to 5 times. The same commercial and industrial energy storage as the center of gravity of the business, four new energy marketing vice president Lv Pinyi said the company's revenue scale last year was about 30 million yuan, this year's conservative estimate will reach 400 million yuan.

Several listed companies are also in the recent "preview" of the rapid growth of the energy storage business.

For example, Sheng Hong shares forecast first-half net profit year-on-year growth of 139.08% to 187.48%, mainly due to the energy storage business unit and charging pile business unit revenue over the same period last year, a substantial increase. Shenghong shares of energy storage business revenue in the first quarter rose 446.97% year-on-year. Deye shares are expected to first-half results with year-on-year growth of 188.58% to 206.34%, mainly because the Asia-Africa-Latin America region household energy storage market demand continues to explode, the company's household energy storage products sales revenue increased significantly; at the same time, the company applied to small industrial and commercial scenarios of the energy storage inverter, energy storage battery business sales scale expansion. Crestec disclosed the first half of the net profit of 106% to 152%, the rapid growth of the energy storage business is one of the important driving forces of the company's performance growth.

Why is the energy storage industry growing so rapidly? China Battery Industry Association, Deputy Secretary General of Energy Storage Branch Zhang Jian, industry growth behind multiple positive factors: First, under the guidance of the top-level design policy, energy storage to open a new stage of large-scale development; Second, the new energy installed capacity continues to grow, "wind" mandatory equipped with energy storage, resulting in stable market growth; Third, the lithium iron phosphate material prices Stabilization of lithium iron phosphate material prices, battery manufacturers to expand production wave to reduce the cost of the core, bringing a significant drop in the cost of energy storage systems, the user side has installed enthusiasm; Fourth, the power market reform, user-side energy storage, incremental distribution network and other aspects of the business model is more smooth, the energy storage link revenue clear, peak and valley tariffs benefit significantly, large power consumption under the commercial and industrial users have a stronger willingness to install, high-precision enterprises are also happy to use energy storage as a backup power source.

Looking forward to the development trend of the energy storage industry, some industry insiders said, European household storage demand is strong, industrial and commercial energy storage is emerging, and China's industrial and commercial energy storage-related logic has also begun to land. Subsequently, as the proportion of new energy increases, the energy storage market will maintain a good growth trend.

PengHui energy agency research minutes confirmed this. Penghui Energy said: "The company's household storage in South Africa sold very well, the big storage has sent samples to Europe and the United States large customers, and is expected to have harvested at the end of this year or early next year, the company's industrial and commercial energy storage in the second half of the year shipment target for 1GWh to 2GWh."

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