The annual report for 2023 was released on the evening of April 18, revealing the strong growth trend of the global power lithium battery market. According to EV Tank, global sales of new energy vehicles surged 35.4% year-on-year to 14.653 million units in 2023, with China's sales especially prominent, reaching 9.495 million units, accounting for 64.8% of the global total. This growth trend reflects the rapid increase in the penetration rate of new energy vehicles worldwide, which drives the continuous growth of power battery shipments.
Meanwhile, countries around the world are accelerating the transformation and upgrading of the energy system from fossil fuels to wind and clean energy in the context of pursuing the goal of "carbon peaking and carbon neutrality". This transition means the construction of a new type of power system based on new wind and solar energy, in order to cope with climate change and environmental pollution. However, the power fluctuation problem generated by large-scale wind and solar installations connected to the grid needs to be solved, so the demand for large-scale energy storage technology has arisen.
Notably, the continuous decline in the price of lithium materials since 2023 has provided more room for the growth of the energy storage market. Meanwhile, the advancement of China's dual-carbon targets and the continued expansion of the peak-to-valley electricity price differential in the country have injected new momentum into the development of the energy storage industry. In addition, the landing of the U.S. IRA Act and the European Net Zero Industry Act have also provided long-term and continuous support for the development of the global energy storage industry.
According to InfoLink, the global energy storage cell shipment scale reached 196.7GWh in 2023, which signifies that the energy storage market is experiencing a rapid expansion phase. This growth trend not only helps to realize the goal of clean energy transition, but also provides a broader market prospect for the innovation and development of energy storage technology.