South Korean media: Chinese companies have an absolute advantage in the energy storage battery market!
On February 27, the South Korean media "Herald Economic" published an article stating that in 2024, Chinese companies accounted for more than 80% of the global market share in lithium-ion batteries for energy storage systems (ESS).
According to a report released by SNE Research, the battery shipment volume for energy storage systems by lithium-ion battery manufacturers worldwide reached 550GWh in 2025, an increase of 79% compared to the previous year. Since the batteries for energy storage systems are directly installed at projects, the difference between shipments and actual installations is very small.
By region, China had a capacity of 352GWh, accounting for 64% of the global market, with a year-on-year growth of 117%, ranking first among major regions. This growth is mainly attributed to the expansion of large-scale energy storage system projects in China and the supply structure centered around domestic battery manufacturers.
The North American market ranked second with sales of 88GWh, accounting for 16% of the market, but its growth rate was the lowest among major regions. This is mainly due to the high tariff policies in the United States, which restricted the supply of competitively priced Chinese lithium iron phosphate batteries (LFP).
Looking at the manufacturer's market share, Chinese companies dominate. The combined market share of the top seven manufacturers of lithium-ion batteries for energy storage systems is 83.3%, and all are Chinese companies.
Among them, CATL's shipment reached 167GWh, with a market share of 30%, ranking first. The company has maintained its global leadership, with a shipment growth of about 80% year-on-year.
The advantages of lithium iron phosphate batteries are considered one of the key factors for Chinese enterprises to dominate the energy storage system market. Unlike electric vehicle batteries, energy storage systems do not require ultra-high energy density, but rather focus on safety and price competitiveness. Lithium iron phosphate batteries are considered to meet these requirements well.
Korean battery companies still maintain a single-digit share in the energy storage system market. In 2025, the combined lithium-ion battery energy storage system shipments of Samsung SDI and LG Energy Solution were 22GWh, accounting for about 4% of the total market. Although the shipment has been growing year by year, due to not keeping up with the overall market growth, their market share has declined.
This is the result of multiple factors, including Korean companies have always supplied energy storage system products centered on NCM and NCA ternary batteries.
The Korean battery industry plans to convert its existing electric vehicle battery production lines in the United States into lithium iron phosphate battery production lines to target the North American energy storage system market. However, at this stage, Chinese lithium iron phosphate batteries will still dominate the energy storage system market.
Original: toutiao.com/article/1858264119193611/
Statement: This article represents the views of the author.