CATL(SZ:300750) 鑫椤储能·2026-01-16 07:39Core Viewpoint - The global energy storage battery shipment is projected to reach 640 GWh in 2025, representing a year-on-year growth of 82.9%, with domestic manufacturers accounting for 621.5 GWh and international manufacturers for 18.5 GWh [1][3]. Market Share by Company - CATL maintains the leading position with over 23% market share; companies like Hicharge, EVE Energy, Farasis Energy, and others form the second tier with market shares around 11% [3]. - In the front-of-the-meter storage segment, CATL's market share exceeds 26%, while Hicharge, EVE Energy, and Farasis Energy hold over 10% each [7]. Application Segmentation - In 2025, front-of-the-meter storage will account for 79.2% of the market, commercial storage for 9.6%, residential and portable storage for 9.3%, and backup power for data centers and base stations for 2% [5]. - The commercial storage battery shipment is expected to reach 61 GWh, with a year-on-year growth of 103%, indicating a competitive landscape with five major players [9]. - Residential and portable storage battery shipments are projected at 58.8 GWh, showing a significant year-on-year growth of 117.7% [11]. Market Trends - The backup power and UPS market for data centers is expected to see a decline, with shipments projected at 12.3 GWh, down 22% due to slowed 5G base station construction [14]. - Looking ahead to 2026, the demand for large-capacity storage batteries (500+ Ah) is anticipated to accelerate, with total battery shipments expected to reach 1,090 GWh, a year-on-year increase of 70% [16].