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SMM February 14 News:
In January, China's ESS battery cell production decreased 14% MoM, up 164% YoY.
Demand side, the rush for grid connection projects in China concluded by the end of 2024, leading to a decline in battery cell procurement enthusiasm at the beginning of the year. Meanwhile, the overseas market, influenced by uncertainties surrounding the US presidential election, continued its "rush for installations." As a result, battery cell enterprises with a higher proportion of overseas business still experienced robust order demand. However, overall ESS market demand in January saw a slight decline. Production side, battery cell manufacturers had previously cleared inventory through low-price strategies, and inventory levels have now returned to reasonable levels. With weak demand and moderate inventory, ESS battery cell production also decreased accordingly.
In February, China's ESS battery cell production is expected to decrease 9% MoM, up 214% YoY.
SMM New Energy Industry Research Department
Cong Wang 021-51666838
Xiaodan Yu 021-20707870
Rui Ma 021-51595780
Ying Xu 021-51666707
Disheng Feng 021-51666714
Yujun Liu 021-20707895
Yanlin Lü 021-20707875
Ye Yuan 021-51595792
Chensi Lin 021-51666836
Zhicheng Zhou 021-51666711
Haohan Zhang 021-51666752
Zihan Wang 021-51666914
Xiaoxuan Ren 021-20707866
Yushuo Liang 021-20707892
Jie Wang 021-51595902
Yang Xu 021-51666760
