1.Market size and growth
In 2024, the global power battery market will continue to expand in size. Driven by the demand for new energy vehicles, the installed capacity of power batteries has significantly increased compared to 2023. As the world's largest market for new energy vehicles, China's power battery industry is developing rapidly, with domestic installed capacity accounting for an important share of the global market. Leading companies such as CATL and BYD have performed well in both domestic and international markets, actively expanding production to meet the growing demand for orders. The European market is affected by stricter carbon emission regulations, leading to an increase in sales of new energy vehicles and a synchronous growth in demand for power batteries. Local companies and Asian battery companies are accelerating their cooperation and competitive layout. Driven by policy incentives and the transformation of the automotive industry, the potential of the power battery market in the United States is gradually being released, attracting many companies to invest in building factories.
2.Increase in energy density
Three element lithium batteries have made progress in the direction of high nickel, and some companies have developed high nickel ternary batteries with energy density exceeding 300Wh/kg, significantly improving the range of new energy vehicles. The technology of lithium iron phosphate is constantly innovating, and through structural optimization and material modification, the energy density has been improved and the cost advantage has been further highlighted. It is widely used in energy storage and some passenger car fields. Solid state battery research and development has become a hot topic, with multiple companies claiming to have achieved key technological breakthroughs. Some solid-state battery samples have an energy density exceeding 400Wh/kg. Although there are still challenges to large-scale production, it is expected to become an important direction for the future development of power battery technology.
3.Security enhancement
Battery companies and research institutions are increasing their R&D investment in battery thermal management systems, adopting new cooling media and optimizing thermal management structure design to effectively improve battery heat dissipation efficiency and high-temperature stability. Improve the formulation and structural design of battery materials, such as using flame-retardant electrolyte additives, enhancing the heat resistance of separators, etc., to reduce the risk of battery short circuit and fire, and improve the overall safety of batteries.
4.Fast charging technology
Breakthroughs have been made in ultra fast charging technology, with some companies launching battery products that support 4C and above rate charging, which can charge the battery to around 80% in 15 minutes, significantly reducing charging time, improving the convenience of using new energy vehicles, and promoting their application and promotion in more scenarios.