Lithium Battery Shipments Surge 55% in 2024, China Leads with 60% Growth

The global energy storage lithium battery market is projected to experience steady growth in 2024, with shipments increasing by over 55% year-on-year. This growth is particularly notable in China, where the shipment of energy storage lithium batteries is expected to rise by more than 60%. The market segments, including power, household, and commercial energy storage lithium batteries, are anticipated to grow by over 70%, 25%, and 40% respectively.

The energy storage Battery Management System (BMS) market is divided into three main categories: battery manufacturers, integrators, and independent third-party BMS companies. In 2024, independent third-party BMS companies are expected to maintain a market share of approximately 53%, showing minimal change from 2023. However, as the integration of energy storage systems becomes more concentrated, the market is witnessing a significant shakeout among second and third-tier BMS companies, posing challenges even for leading BMS enterprises.

The development of energy storage BMS is characterized by a tiered intelligent approach, focusing on strong decision-making at the total control level, precise control at the main control level, and high sensitivity at the sub-control level. This approach is evident in several key areas. Firstly, in response to the trend of fine-grained data collection, BMS chips are designed to measure the voltage of individual battery cells with an accuracy of ±3mV, with some high-end solutions achieving ±1mV. Temperature and resistance measurements are also highly precise, with accuracies better than 0.3°C and 0.4% respectively.

Secondly, to accommodate the increasing capacity of energy storage systems, new-generation BMS Analog Front Ends (AFEs) have increased passive balancing currents to 300mA, meeting the needs of current 314Ah battery cells. Some active balancing currents can reach up to 4-5A. Additionally, 587Ah battery cells are expected to enter mass production in the second half of the year, further enhancing the impact of BMS software algorithms on system performance.

Lastly, advancements in safety and cost reduction are evident in integrated solutions such as safety valves combined with Combined Charging System (CCS) and the fusion of BMS with high-voltage boxes. These innovations aim to reduce the number of components and enhance overall system integration. Furthermore, AI technologies are being employed to dynamically adjust active balancing strategies, predict battery life, optimize charging and discharging strategies, and improve the accuracy of thermal runaway warnings.

This market research data has led to the release of the "2024 China Third-Party Energy Storage BMS Shipment Top 10" report, providing insights into the leading players in this rapidly evolving sector. The report highlights the key trends and developments in the energy storage BMS market, offering valuable information for industry stakeholders and investors.