CBAK Energy's 32140 Cells Capture 19% of Global Market Share, Report Shows
Rhea-AI Summary
CBAK Energy Technology (NASDAQ: CBAT) has achieved significant market share in the global large cylindrical battery segment for 2024. According to the SPIR Report, the company captured 19% of global Series 32 battery market with 19.42 million units shipped, and 11.1% of combined Series 32 and 40 market share.
Global shipments of Series 32 batteries reached 102 million units in 2024, showing a 14.29% year-over-year growth. The company also shipped 32.04 million units of 26650 and 26700 cylindrical batteries, representing 6.4% market share in other cylindrical battery series. The total global cylindrical battery market grew by 10.9% year-over-year, reaching 14.61 billion units in 2024.
CBAK Energy's production lines for 32140 batteries are operating at full capacity, with plans to launch 40135 cylindrical cells in 2025.
Positive
- Captured 19% market share in Series 32 batteries globally
- Shipped 19.42 million units of 32140 batteries in 2024
- Operating at full production capacity for 32140 batteries
- Achieved 11.1% market share in combined Series 32 and 40 segments
- Shipped 32.04 million units of 26650 and 26700 batteries
Negative
- None.
News Market Reaction 1 Alert
On the day this news was published, CBAT declined 1.27%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
DALIAN, China, Feb. 24, 2025 (GLOBE NEWSWIRE) -- CBAK Energy Technology, Inc. (NASDAQ: CBAT) ("CBAK Energy" or the "Company"), a leading manufacturer of lithium-ion and sodium-ion batteries and electric energy solutions in China, today announced its significant global market share in the rapidly growing large cylindrical battery segment, which saw remarkable growth in 2024.
According to the latest report from Start Point Institute of Research (“SPIR Report”), global shipments of Series 32 large cylindrical batteries, which includes the Company’s 32140 cylindrical cells, surged to 102 million units in 2024, with a year-over-year increase of
The SPIR Report further noted that total global shipments of large cylindrical batteries, encompassing both Series 32 and Series 40 cylindrical cells, reached 175 million units in 2024. Of this total, CBAK Energy’s 32140 cylindrical cells accounted for an estimated
In addition, the SPIR Report highlighted that shipments of other cylindrical battery series, including Series 26, 46, 60, and 66, totaled 500 million units globally in 2024, with Series 26 likely comprising the largest portion. CBAK Energy also made significant strides in this segment, shipping approximately 32.04 million units of its 26650 and 26700 cylindrical batteries in 2024, which represents around
The global cylindrical battery market as a whole saw impressive growth in 2024, with total shipments reaching 14.61 billion units, marking a
"We are encouraged by our performance in the large cylindrical battery market in 2024," said Zhiguang Hu, Chief Executive Officer of CBAK Energy. "The significant growth in this segment, driven by increased adoption in electric two-wheelers and portable power solutions, highlights our ability to meet the evolving needs of our customers. Our strong market share reflects our ongoing commitment to innovation, quality, and delivering exceptional energy storage solutions."
About CBAK Energy
CBAK Energy Technology, Inc. (NASDAQ: CBAT) is a leading high-tech enterprise in China engaged in the development, manufacturing, and sales of new energy high power lithium batteries and raw materials for use in manufacturing high power lithium batteries. The applications of the Company's products and solutions include electric vehicles, light electric vehicles, electric tools, energy storage, uninterruptible power supply (UPS), and other high-power applications. In January 2006, CBAK Energy became the first lithium battery manufacturer in China listed on the Nasdaq Stock Market. CBAK Energy has multiple operating subsidiaries in Dalian, Nanjing and Shaoxing, as well as a large-scale R&D and production base in Dalian.
For more information, please visit ir.cbak.com.cn.
Safe Harbor Statement
This press release contains "forward-looking statements" that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations and financial position, strategy and plans, and our expectations for future operations, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. We have attempted to identify forward-looking statements by terminology including "anticipates," "believes," "can," "continue," "could," "estimates," "expects," "intends," "may," "plans," "potential," "predicts," "should," or "will" or the negative of these terms or other comparable terminology. Our actual results may differ materially or perhaps significantly from those discussed herein, or implied by, these forward-looking statements.
The forward-looking statements included in this press release are made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward-looking statements, other than as required by applicable law.
For further inquiries, please contact:
In China:
CBAK Energy Technology, Inc.
Investor Relations Department
Email: ir@cbak.com.cn
FAQ
What is CBAK Energy's market share in Series 32 batteries for 2024?
How many 32140 cylindrical batteries did CBAT ship in 2024?
What is CBAT's market share in the combined Series 32 and 40 battery segments?
When will CBAK Energy launch its 40135 cylindrical cells?
What was the growth rate of global cylindrical battery shipments in 2024?
