Flexible Thinking: The Key to a Successful Flex Circuit Design Transfer
Happy’s Tech Talk #29: Bend-to-Install Semi-flex FR-4
May EV Battery Demand and Prices Remain Stable, June Prices Likely to Drop
June 7, 2024 | TrendForceEstimated reading time: 1 minute
TrendForce research reveals that after experiencing low capacity utilization in the first quarter, the EV battery industry saw a significant recovery in market demand starting in March. April’s peak season led to a surge in demand, boosting lithium battery production and slightly raising EV battery prices. In May, the market continued its peak season trend with stable demand and prices. Monthly ASP for square ternary, square LFP, and pouch ternary cells were CNY 0.50/Wh, 0.43/Wh, and 0.52/Wh, respectively.
In the ESS sector, May saw a surge in demand for solar energy paired with storage. The Chinese market’s grid-connected storage projects entered the stocking period in May–June, leading to a growth in enterprise orders and slight price increases for some products. The ASP of square LFP cells in May was CNY 0.43/Wh, remaining stable compared to the previous quarter.
TrendForce analysis indicates that ESS cells are transitioning from 280 Ah to 314 Ah. Although 314 Ah ESS cells have not yet been shipped in large quantities, their mass production is expected in the first half of the year. Their market penetration in power-side, grid-side, and commercial energy storage markets is anticipated to gradually increase in the second half of the year, highlighting their advantages in cost-performance.
For the entire quarter, TrendForce reports that Q2 market demand is better than expected, with overall stable prices for EV and ESS cells. However, it is worth noting that the industry chain’s stocking exceeded end-user installation demand during the peak season between April to May, leading to inventory build-up due to overproduction by cell manufacturers.
TrendForce predicts that the procurement demand for battery materials will decline in June, putting pressure on lithium prices. As a result, the cost support for EV and ESS cell materials will weaken, and cell prices are expected to remain flat or slightly decrease by the end of Q2.
Share on:
Suggested Items
Global PCB Market Forecast to Reach $86.5 Billion by 2029 with 5.9% Annual Growth
05/19/2025 | EINPresswire.comThe printed circuit board market size has witnessed steady growth in recent years and the trend is anticipated to continue. Increasing from $65.82 billion in 2024 to $68.75 billion in 2025, it showcases a compound annual growth rate CAGR of 4.5%.
AI Boom Drives Surge in Data Center Interconnect Demand; Global Market Value to Grow 14.3% in 2025
05/19/2025 | TrendForceTrendForce reports that leading global telecom providers such as SK Telecom and Deutsche Telekom are rolling out Agentic AI services for general users as generative AI becomes increasingly integrated into daily life in 2025.
Flexible PCB Market to Reach $61.75B by 2032, Driven by the Demand for Compact Electronics, Automotive and Medical Applications
05/16/2025 | Globe NewswireAccording to the SNS Insider, “The Flexible PCB Market was valued at USD 21.42 billion in 2023 and is expected to reach $61.75 billion by 2032, growing at a CAGR of 12.52% over the forecast period 2024-2032.”
Zhen Ding Reported Its 1Q25 Results, with Revenue Hitting a Record High for the Same Period
05/16/2025 | Zhen Ding TechnologyZhen Ding Technology Holding Limited a global leading PCB manufacturer, today announced its consolidated financial results for the first quarter of 2025.
Top 10 OSAT Companies of 2024 Revealed—China Players See Double-Digit Growth, Reshaping the Global Market Landscape
05/13/2025 | TrendForceTrendForce’s latest report on the semiconductor packaging and testing (OSAT) sector reveals that the global OSAT industry in 2024 faced dual challenges from accelerating technological advancements and ongoing industry consolidation.