CBAK Energy says 32140 cells capture 19% of global market share

CBAK Energy Technology (CBAT) 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, global shipments of Series 32 large cylindrical batteries, which includes the Company’s 32140 cylindrical cells, surged to 102 millioC units in 2024, with a year-over-year increase of 14.29%. CBAK Energy played a pivotal role in this growth, delivering 19.42 million units of its 32140 large cylindrical batteries, capturing approximately 19% of the global market share of Series 32 batteries. 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 11.1% of combined global shipments, underscoring the Company’s substantial contribution to this fast-growing market. 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 6.4% of the combined global market share.