CBAK Energy's 32140 Cells Capture 19% of Global Market Share, Report Shows

Core Viewpoint - CBAK Energy Technology, Inc. has achieved significant growth in the large cylindrical battery market, capturing a notable share and contributing to the overall expansion of the global cylindrical battery sector in 2024 [1][5][6] Group 1: Market Performance - Global shipments of Series 32 large cylindrical batteries, including CBAK's 32140 cells, reached 102 million units in 2024, reflecting a year-over-year increase of 14.29% [2] - CBAK Energy delivered 19.42 million units of its 32140 large cylindrical batteries, securing approximately 19% of the global market share for Series 32 batteries [2] - Total global shipments of large cylindrical batteries, including Series 32 and Series 40, amounted to 175 million units in 2024, with CBAK's 32140 cells representing an estimated 11.1% of this total [3] Group 2: Product Expansion - CBAK Energy also shipped around 32.04 million units of its 26650 and 26700 cylindrical batteries in 2024, capturing about 6.4% of the combined global market share for other cylindrical battery series [4] - The overall cylindrical battery market saw total shipments of 14.61 billion units in 2024, marking a 10.9% year-over-year increase, driven by demand across various applications [5] - CBAK Energy's production lines for 32140 batteries are operating at full capacity to meet rising demand, and the company plans to launch its 40135 cylindrical cells in 2025 [5] Group 3: Company Overview - CBAK Energy is a leading manufacturer of lithium-ion and sodium-ion batteries in China, focusing on high-power applications such as electric vehicles and energy storage solutions [7] - The company has a significant presence in the market, being the first lithium battery manufacturer in China listed on the Nasdaq Stock Market [7]