Lithium iron phosphate batteries continue to expand the lead of three – way batteries in our market. Mainly used in the automobile industry and daily electrical appliances, etc.
From 2018 to 2020, the loading volume of lithium iron phosphate batteries in China was lower than that of ternary batteries. In 2021, lithium iron phosphate battery achieved counterattack, the annual market share reached 51%, more than ternary battery. Compared with ternary batteries, lithium iron phosphate does not need to use expensive resources such as nickel and cobalt, so it has advantages in terms of safety and cost.
In April, the domestic market share of lithium iron phosphate batteries reached 67 percent, a record high. The market share fell to 55.1 percent in May, and in June it began to gradually increase again, and by August it was over 60 percent again.
With the increasing requirements of car companies for electric vehicles to reduce costs and improve safety and stability, the installed volume of lithium iron phosphate batteries has exceeded teralithium batteries.
On October 9, data released by the China Automotive Power Battery Industry Innovation Alliance said that in September this year, the domestic power battery load of 31.6 GWh, a year-on-year growth of 101.6%, two consecutive months of growth.
Among them, lithium iron phosphate battery load of 20.4 GWh in September, accounting for 64.5% of the total domestic load, achieving positive growth for four consecutive months; The loading volume of ternary battery is 11.2GWh, accounting for 35.4% of the total loading volume. Lithium iron phosphate and ternary battery are the two main technology routes of power battery in China.
The installed share of lithium iron phosphate power batteries in the Chinese market is expected to continue to exceed 50% from 2022 to 2023, and the installed share of lithium iron phosphate power batteries in the global power battery market will exceed 60% in 2024. In the overseas market, with the increasing acceptance of lithium iron phosphate batteries by foreign car companies such as Tesla, the penetration rate will increase rapidly.
At the same time, this year energy storage industry ushered in the rapid development of tuyere, bidding projects doubled, energy storage lithium iron phosphate battery soared, but also further promoted the development of lithium iron phosphate battery.
Post time: Oct-13-2022