The latest data shows that China's portable energy storage shipments will reach 4GWh in 2022, a year-on-year growth rate of 207.7%. On the one hand, portable energy storage devices are mainly used to replace small generators, and are mainly used in outdoor activities and emergency preparedness. With the global camping and emergency backup markets booming, the demand for portable energy storage products has increased.
On the other hand, portable energy storage accounts for a relatively small share of the overall energy storage market, which is generally based on the business expansion of established battery companies and the layout of consumer electronics companies under the same technology system. There are fewer track companies in the vertical field, and the blue ocean of the portable energy storage market is full, attracting a large number of start-ups. With the hot blessing of the capital market, portable energy storage technology is constantly innovating, and the products are becoming more diverse.
1. Portable energy storage cells and system innovation
Previously, portable energy storage was regarded as a large-scale outdoor power bank, with a charging capacity of 0.2-2kWh. Portable energy storage cells are generally 18650 cylindrical cells. Many battery companies have created battery products around this type of cell. You can buy this type cells in the professional 18650 battery store. It is worth mentioning that portable energy storage products have become a major business growth point of FEB. FEB’s 18650 cylindrical cells have a capacity of 1.0kWh and 0.5kWh, which can be widely used in different scenarios. In addition, EVE also builds a matrix of portable energy storage products around 18650 cylindrical cells.
At present, portable energy storage batteries are moving towards high power and long cycle, and the charge capacity of mainstream systems will increase from below 300Wh to 800-1000Wh in 2022. 21700 ternary system cylindrical batteries and larger cylinders have been applied in small batches in some occasions with more stringent charge requirements. HITHIUM launched a 10-50Ah cylindrical cell in 2022, with a maximum energy density of more than 150Wh/kg, a cycle life of more than 5,000 times, and stronger flexibility and adaptability to meet the needs of diverse energy storage applications such as portable energy storage and home energy storage.
In addition to cylindrical batteries, some Chinese lithium battery brands that produce pouch and square batteries are also increasing the development of downstream customers stimulated by the growth in demand for portable energy storage, which has increased the proportion of pouch and square batteries in portable energy storage applications. Great Power differentiated its competition by launching 50Ah/100Ah square portable energy storage cells, and has already won orders for EcoFlow portable energy storage boxes.
Not only that, but based on lithium iron phosphate material, Great Power has launched a large cylindrical battery with no poles, which is suitable for two-wheeled vehicles, portable energy storage and home energy storage and other fields. In terms of energy storage systems, the trend of high-voltage portable energy storage is obvious, and products above 1000W have gradually become the darling of the market. Some portable energy storage companies have launched portable energy storage products up to 6KWh in response to the above needs, and achieved a system capacity of more than 20KWh through plug-and-play and modular series-parallel connection.
2. Multiple application scenarios are emerging and portable energy storage ushers in growth
In the past year, the epidemic has not yet ended, limiting the pace of travel for tourists, and new consumption of short-distance outdoor camping has become a substitute for long-distance travel. The rigid demand for electricity in camping scenes has stimulated the demand for outdoor portable energy storage boxes and mobile power supplies.
Hello Tech is the first to make efforts, aiming at the global market, and has established brand branches such as "Jackery" and "GENEVERSE". Among portable power station companies in China, the "Jackery" outdoor power supply can meet multiple camping scenarios such as mobile refrigerators, projectors, and outdoor lighting, and has become the world's top-selling outdoor power supply category. Portable energy storage products frequently dominate the list of cross-border e-commerce.
Not only that, the penetration rate of camping in European and American countries exceeds 65%, and the outdoor mobile power market is larger. It has become a trend for products to go overseas. In addition to outdoor camping scenarios, emergency preparedness is also the main application scenario for portable energy storage. In the future, portable energy storage will enter more application scenarios and open up more diversified markets. Under the diverse demands, it is predicted that the global shipment of portable energy storage devices will reach 31.1 million units by 2026.
3. Portable energy storage seizes the blue ocean market
Since 2022, the energy storage crossover trend has become the focus of the industry. Crossover companies include established battery companies, traditional energy companies, and companies in the fields of home appliances, electronic technology, and environmentally friendly food. Based on the similarity of consumer electronics 3C and portable energy storage in terms of design concepts and usage scenarios, consumer electronics companies cross-border energy storage, focusing on portable energy storage tracks.
Among them, Xiaomi has been involved in energy storage for a long time. Its advantages are reflected in the research and development of mobile phone batteries for many years, and it has successfully launched the star product of power bank to occupy the portable energy storage market. The technical barriers and industry thresholds for further layout of the energy storage market are relatively low. It is worth noting that the flexible energy storage charging pile is regarded by the industry as a mobile car charging treasure.
As a subdivision track of portable energy storage, Xiaomi has invested in this field. However, when multi-party cross-border enterprises enter the energy storage market, they must also be alert to the risk of "bad money driving out good money". The data shows that China's portable energy storage currently only accounts for 3% of the overall energy storage market share. The application scenarios in China have not yet been fully developed, the profit model is single, and the product standards are different. The road ahead will face many challenges.
On the whole, the portable energy storage track is accelerating into the blue ocean. Leading enterprises will also usher in new growth poles through their own technological advantages and the development of new markets. Cross-border enterprises may bring new usage scenarios in the future and stimulate new business growth points.