Under the "dual carbon" goals, the new energy industry is ushering in a new round of development opportunities. Energy storage is not only an important means to improve the flexibility, economy, and security of traditional power systems, but also a key technology to promote the replacement of primary energy sources from fossil fuels to renewable energy. It is a key focus in solving the clean energy development and ensuring a stable energy supply. During the 14th Five-Year Plan and 15th Five-Year Plan periods, the energy storage industry will experience rapid development, comprehensively supporting the achievement of carbon peak and carbon neutrality targets in the energy sector.
Against this background, the Organizing Committee of Energy Storage Branch of China Chamber of Commerce for Import and Export of Mechanical and Electrical Products has released the "2021 Energy Storage Industry Foreign Trade Development White Paper". The paper provides an analysis and explanation of the Chinese and global energy storage installation market, policies, energy storage battery exports, challenges faced, and future trends for industry reference.
❖This article only explains part of the content of the "2021 Energy Storage Industry Foreign Trade Development White Paper".
In the first two months of this year, China's export of energy storage batteries also achieved significant growth. According to statistics from China Customs, in the first two months of 2022, China's export of batteries and parts amounted to approximately 6.28 billion US dollars, an increase of 48.4% year-on-year. Imports amounted to 690 million US dollars, an increase of 6.3% year-on-year, with a trade surplus of 5.59 billion US dollars. In terms of export product categories, China's main battery export products are lithium-ion batteries and lead-acid batteries. In the first two months of 2022, the export value of lithium-ion batteries was 5.60 billion US dollars, a year-on-year increase of 56.2%, accounting for 89.2% of the overall battery export share and the largest single product exported by China's battery industry. Secondly, the export value of lead-acid batteries was 590 million US dollars, accounting for approximately 9.4%. Currently, more than 80% of newly constructed energy storage projects in China use lithium-ion batteries.
In 2021, China's battery exports exceeded 30 billion US dollars, reaching a new high
According to statistics from China Customs, in 2021, China's battery and parts exports amounted to approximately 32.73 billion US dollars, a year-on-year increase of 66.8%, reaching a new high in recent years. Imports amounted to approximately 4.27 billion US dollars, a year-on-year increase of 9.4%. The trade surplus was approximately 28.46 billion US dollars, a year-on-year increase of 81.1%.
Looking at monthly exports, the lowest export value was in February at 1.94 billion US dollars, while the highest was in December at 3.92 billion US dollars, a year-on-year increase of 69.8%, reaching the highest monthly export value in recent years for batteries and parts.
Export Market: The United States is the largest destination for my country's battery and parts exports
In terms of export markets, the United States, Germany, South Korea, Vietnam, Hong Kong SAR of China, Japan, the Netherlands, India, Spain, and Slovakia are the top ten export markets for my country's batteries and parts, accounting for 70.1% of the overseas market share. Among them, exports to the United States reached 5.31 billion U.S. dollars, a year-on-year increase of 86.1%, accounting for 16% of the overseas market share and ranking first. Exports to Germany reached 3.69 billion U.S. dollars, a year-on-year increase of 129.6%, accounting for 11% of the market share and ranking second. Exports to South Korea reached 3.08 billion U.S. dollars, a year-on-year increase of 108.2%, accounting for 9% of the market share and ranking third.
The export volume of batteries in Guangdong, Jiangsu, and Fujian provinces accounts for more than 70% of the total export volume.
In 2021, Guangdong, Jiangsu, Fujian, Zhejiang, Hunan, Shanghai, Tianjin, Shaanxi, Anhui, and Shandong were the top ten regions for my country's battery and parts exports, accounting for 73.8% of the industry's overall exports. Among them, the export volume of Guangdong Province reached 10.97 billion U.S. dollars, a year-on-year increase of 51.6%, accounting for 33.5% and ranking first. The export volume of Jiangsu Province reached 7.61 billion U.S. dollars, a year-on-year increase of 62.4%, accounting for 23.3% and ranking second. The export volume of Fujian Province reached 5.57 billion U.S. dollars, a year-on-year increase of 157.1%, accounting for 17% and ranking third.
Lithium-ion batteries are China's largest single battery export product
⭐️ In 2021, lithium-ion battery exports reached a new high.
In terms of export products, lithium-ion batteries were China's largest single battery export product in 2021, with an export value of $28.43 billion, a year-on-year increase of 78.4%, accounting for 86.9% and reaching a new high in recent years. Secondly, lead-acid batteries had an export value of $3.58 billion, accounting for about 11%, ranking second.
⭐️ China's exports of lithium-ion batteries to the United States, Germany, and South Korea have doubled
In terms of export markets, the top ten export markets for China's lithium-ion batteries are the United States, Germany, South Korea, Vietnam, Hong Kong (China), Japan, the Netherlands, India, Spain, and Slovakia, accounting for 76.1% of the overseas market share. The top three export markets all achieved doubled growth in exports. Among them, exports to the United States reached $4.97 billion, doubling from the previous year, accounting for 17.5% of the overseas market share, ranking first. Exports to Germany reached $3.49 billion, a year-on-year increase of 135.3%, accounting for 12.3% of the market share, ranking second. Exports to South Korea reached $3 billion, a year-on-year increase of 110.3%, accounting for 9% of the market share, ranking third.
⭐️ Lithium-ion battery exports are highly concentrated in certain provinces and cities
In terms of domestic export provinces and cities, in 2021,Guangdong, Jiangsu, Fujian, Zhejiang, Shanghai, Tianjin, Shaanxi, Anhui, Hunan, and Shandong were the top ten export regions of China's lithium-ion batteries, accounting for 95.2% of the overall battery industry exports. Among them, Guangdong Province had an export value of $10.27 billion, a year-on-year increase of 56.9%, accounting for 35.9%, ranking first. Jiangsu Province had an export value of $6.95 billion, a year-on-year increase of 67.8%, accounting for 24.4%, ranking second. Fujian Province had an export value of $5.28 billion, a significant year-on-year increase of 199.3%, accounting for 18.6%, ranking third.
