数码+小动力等年均增长超15%，龙头企业格局稳定

Core Viewpoint - The article emphasizes the strong growth potential of ternary cathode materials (NCM/NCA) in high-end digital and small power sectors due to their high energy density, long cycle life, and excellent rate performance [1] Group 1: High-End Digital Sector - The demand for lightweight and long-lasting batteries in 5G devices, high-end laptops, and AR/VR devices is driving the adoption of ternary materials, which have a single-cell energy density advantage (≥250Wh/kg), gradually replacing traditional lithium cobalt oxide [2] - The penetration rate of ternary materials in the high-end digital sector is expected to exceed 40% in the next three years [2] Group 2: Small Power Sector - In the electric tools, two-wheeler, and drone markets, ternary materials are achieving breakthroughs in fast charging and low-temperature performance through high nickel and doping modification technologies while ensuring safety [2] - By 2024, the share of ternary materials in global small power lithium batteries is projected to reach 35%, with an annual growth rate exceeding 20%, becoming a key alternative to lead-acid and lithium iron phosphate batteries [2] Group 3: Market Growth and Projections - The shipment volume of ternary materials in the domestic digital and small power non-dynamic energy storage market is expected to reach 47,000 tons in 2024, representing a year-on-year growth of 11.9% [3] - The demand for ternary materials in the domestic non-dynamic energy storage market is anticipated to remain high, with an estimated total shipment of 53,000 tons for the year, reflecting a year-on-year increase of 12.8% [5]