CBAK Energy's 32140 Cells Capture 19% of Global Market Share, Report Shows

Core Viewpoint - CBAK Energy Technology, Inc. has achieved significant growth in the large cylindrical battery market, capturing a notable share and contributing to the overall expansion of the global cylindrical battery sector in 2024 [1][5]. Market Performance - Global shipments of Series 32 large cylindrical batteries, including CBAK Energy's 32140 cells, reached 102 million units in 2024, reflecting a year-over-year increase of 14.29% [2]. - CBAK Energy delivered 19.42 million units of its 32140 large cylindrical batteries, securing approximately 19% of the global market share for Series 32 batteries [2]. - Total global shipments of large cylindrical batteries, including Series 32 and Series 40, amounted to 175 million units in 2024, with CBAK Energy's 32140 cells accounting for an estimated 11.1% of this total [3]. Product Segments - Shipments of other cylindrical battery series, such as Series 26, 46, 60, and 66, totaled 500 million units globally in 2024, with CBAK Energy shipping around 32.04 million units of its 26650 and 26700 cylindrical batteries, representing about 6.4% of the combined global market share [4]. - The overall cylindrical battery market saw total shipments reach 14.61 billion units in 2024, marking a 10.9% year-over-year increase, driven by demand across various applications including new energy vehicles and portable power solutions [5]. Company Strategy and Outlook - CBAK Energy's production lines for 32140 batteries are operating at full capacity to meet rising demand, and the company plans to launch its 40135 cylindrical cells in 2025 [5]. - The CEO of CBAK Energy expressed optimism regarding the company's performance in the large cylindrical battery market, emphasizing the importance of innovation and quality in meeting customer needs [6].