The power tool market will be hot in 2022 - the demand for cylindrical lithium batteries will increase

Energy storage lithium battery shipments 37GWh

At present, the lithium battery energy storage market is mainly divided into four categories: power energy storage, communication energy storage, portable energy storage and household energy storage. Overall, the above energy storage markets will see substantial growth in 2021.

The data shows that in 2021, China’s total lithium battery energy storage shipments will be 37GWh, a year-on-year increase of more than 110%; of which power energy storage accounts for 47%, communication energy storage accounts for 33%, household energy storage accounts for 15%, and portable energy storage accounts for 15%. can account for 3%.

It is predicted that China’s total energy storage shipments will be 330GWh in 2026, with a 5-year compound growth rate of 55%, driving further growth in the market demand in the above-mentioned energy storage field.

It is worth noting that the portable energy storage market has grown rapidly in recent years, mainly driven by the increase in demand for emergency measures during the epidemic and outdoor scenarios. The shipment volume in 2021 is 1.3GWh; An emerging growth track for the lithium battery energy storage market.

On the whole, dual carbon will become the core driving force. Lithium battery energy storage is in an explosive period from 1 to X. It is expected that many market segments will appear in the future.

From the perspective of the technical route, lithium batteries will be the main technical route in the field of energy storage, but in the later stage, other technologies such as hydraulic batteries and sodium-ion batteries will coexist with lithium batteries.

In 2021, China’s energy storage lithium batteries will be dominated by square LFP batteries, with high capacity and large cells as the main development direction. In the field of battery energy storage, the LFP market accounts for as high as 98%, and the current mainstream battery products are upgrading from 100 Ah to 280 Ah.

The communication energy storage market is also dominated by square LFP cells.

The home energy storage market is more diversified, with applications in square, cylindrical, and soft packs, but China is still dominated by LFP, with product models concentrated in 25-50Ah, and will develop in the direction of 50-100Ah in the future. Portable energy storage is dominated by cylindrical batteries. More than 80% of them use high specific energy 18650 cells. The development trend is also large-capacity, upgrading from 18650 to 21700.

From the perspective of gross profit margin of the system, portable energy storage > home energy storage > electric energy storage > communication energy storage. Among them, the gross profit margin of portable energy storage systems can reach up to 45%-50%.Mainly related to industry needs. However, the gross profit margin of the communication energy storage system is only 15%-20%, and the price competition is very fierce.

Among them, you can browse TOP 5 electric energy storage lithium battery companies in China.

From the perspective of competition factors, factors such as product consistency, price, safety, lifespan, channels, brands and service capabilities will become the keys for lithium battery companies to compete in the energy storage market.

10GWh of lithium batteries for electric two-wheelers shipped

Data shows that China’s lithium battery shipments for two-wheelers in 2021 will be 10GWh, a slight increase over the previous year, mainly due to the sharp decline in demand in the sharing market.

In terms of breakdown, in 2021, China’s electric two-wheeler civilian market will grow by 38% year-on-year, mainly due to the further recognition of lithium-ion two-wheelers by consumers and the cooperation of dealers.

The demand in the sharing market decreased by 71% year-on-year, mainly due to the impact of local policy changes and the periodicity of industry turnover; the demand in the power exchange market increased by 80% year-on-year, and the other country market increased by 63% year-on-year.

With the acceleration of the penetration of lithium batteries for electric two-wheelers, it is expected that the shipment of lithium batteries for electric two-wheelers will reach 30GWh in 2026, and the penetration rate of lithium batteries will reach more than 70%, which will provide good opportunities for lithium battery companies competing in the field of electric two-wheelers. development opportunities.

From the perspective of technical route, in 2021, the market share of lithium manganate batteries in China’s electric two-wheeled vehicle field will increase from 45% in 2020 to 56%.

In terms of price, the price competition of lithium batteries for electric two-wheelers is fierce, and battery companies are facing greater competitive pressure.

Global power tool lithium battery shipments 22GWh

Driven by the growth of the global power tool market, the global power tool lithium battery shipments in 2021 will be 22GWh; it is predicted that the shipment scale will increase to 60GWh in 2026, which still has a 2.7 times growth space compared to 2021.

From the perspective of the competitive landscape, as Japanese and Korean brands prioritize their cylindrical battery resources in the field of power batteries, providing good development opportunities for Chinese cylindrical batteries, China’s market share has increased rapidly.

In 2021, China’s power tool lithium battery shipments will increase significantly year-on-year, and the market share will increase significantly, which is accelerating the substitution of imports.

With the further expansion of the battery production capacity of the above-mentioned Chinese battery companies in the field of power tools, the market demand for superimposed lithium batteries for power tools continues to grow, the market share of lithium batteries for power tools in China will further increase, and production capacity will become an important competitive factor for leading companies.

In terms of technical route, the technical route of high-rate cylindrical NCA and NCM811 is more clear, and the application of silicon-based materials will be accelerated. In the future, China’s 2.5Ah high-rate cylindrical lithium ion battery products will become the mainstream of the market.

Increased demand for cylindrical lithium batteries

Entering 2022, the market demand for power tool lithium batteries will continue to grow.

On March 7, Blue Lithium released an announcement saying that Tianpeng Power, a wholly-owned subsidiary, recently received an order document confirmed by Stanley Black & Decker.

The two parties confirmed that the supply of ternary cylindrical lithium batteries in 2022-2024 will be 120 million, 240 million and 280 million respectively. Among them, for 2022, it can be increased to a maximum of no more than 200 million with the agreement of both parties.

Haistar Power’s power tool lithium battery orders will also see substantial growth in 2022. The company’s current cylindrical lithium battery orders have covered the company’s production plan for the first three quarters, and it is expected that the annual shipment will increase further.

In addition, the shipments of power tool lithium batteries from companies including EVE, Changhong Energy, BAK Battery, Far East Battery, Penghui Energy and other companies will show varying degrees of growth in 2021, and are actively expanding production to meet the needs of The downstream market grows demand.

The data shows that, driven by the growth of the global power tool market, the global power tool lithium battery shipments will be 22GWh in 2021;

Among them, China’s power tool lithium battery shipments have increased significantly year-on-year, and the market share has increased significantly, which is accelerating the substitution of imports.

From the perspective of competition, because Japanese and Korean brands prioritize their cylindrical battery resources in the field of power batteries, the supply chain of international power tool giants has shifted to China, giving Chinese cylindrical battery companies accumulated opportunities for many years. share further increased.

At present, companies including Histar Power, EVE, BAK Battery, Penghui Energy and other companies have passed the verification and confirmation of the international power tool giant TTI, and signed a supply agreement to start mass supply.

Gaogong Lithium Battery has learned that since 2021, the high-quality cylindrical batteries used by many Chinese battery companies in the field of power tools have been in short supply. The company’s main pressure is insufficient production capacity, outstanding delivery pressure, and upstream raw material prices. Costs go up.

Under this circumstance, battery companies including Histar Power, Tianpeng Power, EVE, Changhong Energy, BAK Battery, Far East Battery, Penghui Energy, Haihong Technology, Hengdian Dongci and other battery companies are actively expanding their cylindrical battery production capacity.

Weilan Lixin said that the company’s actual annual production capacity of lithium batteries is nearly 400 million in 2021. With the gradual completion of the Zhangjiagang Phase II project, the annual production capacity is expected to reach 730 million by the end of 2022.

The first phase of the 1GWh lithium battery project with an annual output of 2GWh of high specific energy and high safety has been put into operation in September last year, and the second phase of 1GWh production capacity will also be put into operation in September this year. By the end of 2022, the cylindrical battery production capacity will reach 3GWh

EVE said that the company’s production capacity of small cylindrical batteries in 2021 is 600 million, and it is expected to increase to 1 billion in 2022.

BAK Battery said that BAK Power has won supply passes from TTI and Stanley Black & Decker. At present, a special production line has been opened for TTI, and the demand of Black & Decker will also be reflected in the scale of 2022.

Changhong Energy announced that it intends to purchase the remaining 33.17% equity of Changhong Sanjie for 1.7 billion yuan. After the transaction, it will hold 100% of the equity of Changhong Sanjie and raise funds to further increase the production capacity of cylindrical batteries.

Overall, after the new production capacity of the above-mentioned enterprises is released, the supply capacity of lithium batteries for electric tools in China will be further improved. With the further increase in the global power tool battery market demand and the acceleration of the introduction of Chinese batteries by international manufacturers, Chinese cylindrical batteries are expected to further increase their share in the international market with their advantages in product technology and cost.