What are the most promising top battery companies

What are the most promising top battery companies

Table of Contents

Battery and PCS are the two major components of residential energy storage systems, which are the most beneficial links in the household energy storage market. According to the calculation, 25.45GW/58.26GWh of new installed capacity of household energy storage will be added in 2025, corresponding to 58.26GWh of battery shipment and 25.45GWh of PCS shipment.

Assuming that the battery price will be 1.37 RMB/wh, and the PCS price will be 0.96 RMB/w, with an annual decrease of 5% (the battery price will increase due to the increase in the upstream raw material price), it can be estimated that by 2025, the battery incremental market space will be 78.4 billion RMB, and the PCS incremental market space will be 20.9 billion RMB.

What are the most promising top battery companies?This article will introduce five top battery companies including Great Power, Pylon Tech, Greenway, Deye and SUNGROW.

What are the most promising top battery companies

Great Power

Great Power is one of the top battery companies in China. The company has devoted more than ten years to lithium-ion batteries, and is one of the most comprehensive battery manufacturers in China. The company’s battery products cover lithium ion batteries, primary batteries (lithium iron batteries, lithium manganese batteries, etc.), nickel metal hydride batteries, etc.

Being the promising top battery companies, Great Power’s products have a wide range of application scenarios, including energy storage (including portable power station, household energy storage, etc.), consumer digital (tablet computers, computers, etc.), new energy vehicles, light power and other fields. In 2021, the top battery companies, Great Power, achieved an operating revenue of 5.692 billion RMB, with a year-on-year growth of 56.30%.

The top battery companies have complete energy storage products. In the field of energy storage lithium-ion batteries, the company has a complete energy storage product line, covering energy storage cells, communication base station battery standard modules, portable power station boxes, household energy storage all-in-one machines, large energy storage (including battery clusters, energy storage cabinets, container energy storage systems) and many other products.

In the field of household energy storage, since the company’s household energy storage products passed the European and Australian certification, it has obtained a large number of orders for household energy storage business from Europe and Australia, including Weco, Growatt, etc;

In the field of portable power station, it has obtained large orders from large customers such as EcoFlow; In the field of large-scale energy storage, it also obtained large orders from SUNGROW, China Southern Power Grid, Trina Solar, etc. Furthermore, SUNGROW is also one of the promising top battery companies which will be introduced later.

Great Power is one of the top battery companies in China

Pylon Tech

As top battery companies with the most potential, Pylon Tech is the global leader in household energy storage systems. Founded in 2009, the company is a leading supplier of energy storage battery systems in the industry, focusing on the research, development, production and sales of lithium iron phosphate battery cells, modules and energy storage battery systems.

The top battery companies vertically integrates the industrial chain, and is one of the few enterprises in China that has the capability of independent research, development and manufacturing of core energy storage components such as battery cells, modules, battery management systems, and energy management systems.

The company’s main products include energy storage battery systems and cells, which can be widely used in home, industry and commerce, data centers and other fields. Energy storage battery system is the main revenue, accounting for more than 90%. 

The company has the design capability of energy storage system integration solutions, and supports the creation of one-stop energy storage solutions for various scenarios such as families, industry and commerce, power grids, communication base stations and data centers, so as to optimize the overall performance of the energy storage system.

In 2021, the company’s energy storage battery system revenue was 1.988 billion RMB, accounting for 96.4%, with a year-on-year increase of 90%. Besides. the gross profit rate of system products reached 29.73%. The decline in gross profit rate in 2021 was mainly due to the rise in the price of upstream raw materials, which shows the great performance of the top battery companies.

The company is one of the enterprises that engaged in and laid out lithium battery energy storage business earlier in China. For a long time, it has focused on the field of lithium battery energy storage, accumulated high-quality core customer resources, and has a high brand awareness in the global energy storage market. So Pylon Tech is without doubt one of the top battery companies.

As a top battery company with the most potential, Pylon Tech is the global leader in household energy storage systems

In the global market, top battery companies have established a good cooperative relationship with other enterprises. Pylon Tech has established long-term and stable cooperation with Segen, the largest photovoltaic system provider in the UK, Krannich, the leading optical storage system provider in Germany, and Energy, the leading energy storage system provider in Italy. 

The company has a very high market share in Europe, South Africa, and some Southeast Asian countries. While consolidating the existing market, the company is actively expanding the domestic energy storage market in North America, Japan, and other countries, reflecting the top battery companies’ broad business scope.

Top battery companies continuously develop new products. In June 2021, a new 1.5GWh lithium ion battery cell capacity was put into production. By the end of 2021, Pylon Tech has formed an annual 3kWh battery cell capacity and 3.5GWh battery system capacity. The level of automation and intelligence of the production line has been greatly improved, and the effective capacity will be further released, effectively improving the product delivery capacity.

Top battery companies also regularly release business plans. In June 2022, the fixed increase plan will be released, and the funds will be raised for the 10GWh lithium battery R&D and manufacturing base project. It is expected that the first phase of 5GWh will be completed and put into operation in 2024, and the second phase of 5GWh will be completed and put into operation in April 2025. At that time, the company’s capacity will be doubled.


Founded in 2010 and listed on the Science and Technology Innovation Board of Shanghai Stock Exchange in June 2021, Greenway is one of the top battery companies based on the research, development, manufacturing and sales of lithium-ion batteries. Top battery companies’ business covers a wide range. The main business of Greenway includes lithium-ion battery pack and lithium-ion battery cell.

Greenway is one of the top battery companies based on lithium ion battery research and development

● Lithium ion battery pack

Lithium ion battery pack is mainly used in the fields of electric light vehicles such as electric bicycles and electric motorcycles, consumer electronics such as notebook computers, automobile emergency starting power supplies, mobile power supplies, and portable power station.

The company launched a series of lithium ion batteries for consumer electronics at the beginning of its establishment in 2010. Top battery companies pay attention to product research and development. In 2011, Greenway established a research and development center and a power battery business department, launched electric bicycle battery products, and began to layout the power lithium-ion battery market.

● Lithium ion cell

Some lithium ion cell in the company are used for their own battery pack products, and some are sold to other battery pack manufacturers and power tool manufacturers. In 2016, Greenway acquired K-Tech Energy, which is mainly engaged in the R&D, production and sales of lithium ion battery cells.

Top battery companies are committed to business development. With the continuous development of the global market, the company’s business scale of lithium-ion battery for light vehicles has accelerated. In 2021, the Company achieved an operating revenue of 2.22 billion RMB, a net profit attributable to the parent of 120 million RMB, and a net profit not attributable to the parent of 140 million RMB.

Benefiting from the expansion of downstream demand, the company’s battery sales increased significantly. From 2018 to 21, the sales volume reached 5.59 million sets/7.27 million sets/15.7 million sets/15.27 million sets respectively, with a capacity utilization rate of nearly 95%. At the same time, the overall price is relatively stable, and the company’s income is growing rapidly.

At present, the company’s energy storage products are mainly sharable chargers and portable power station products. In 2021, the company’s energy storage battery business achieved a revenue of 128 million RMB (+140% year-on-year), and at the same time, it has opened up new customers such as Sanwa in Hong Kong and ELECTRONICA STEREN in North America.

The energy storage battery business of the company is mainly ODM mode, which is independently developed and designed by the company and sold to users under the customer brand, mainly for American end customers such as Goal Zero.

As one of the top battery companies, SUNGROW is a high-tech enterprise focusing on new energy equipment


Some top battery companies have experienced transformation like Deye. Successfully entered the inverter field from traditional household appliances, Deye was established in 2000, starting from air conditioners, automotive injection molding parts, molds, sheet metal parts and other products.

Based on the profound accumulation in the field of household appliances, the company has successively entered the fields of air conditioning heat exchanger, variable frequency controller, inverter, etc. At present, the company’s business is mainly divided into three parts:

● Heat exchanger and frequency converter series with Midea as the main customer;
● Self owned brand small household appliances mainly including dehumidifiers and air heaters;
● Circuit control series based on inverter. The inverter business is the focus of the company’s development in the future, with a revenue of 1.198 billion RMB in 2021, accounting for 28.74% of the company’s total.

The future development of the top battery companies is very clear. For Deye, it will focus on inverter business. The inverter products of the Company include micro inverter, string inverter and energy storage inverter.

In 2021, the sales revenue of energy storage inverter reached 532 million RMB, an increase of 265.27% over the same period of last year; the sales revenue of string grid connected inverter reached 539 million RMB, an increase of 265.53% over the same period of last year; the sales revenue of micro grid connected inverter reached 107 million RMB, an increase of 257.94% over the same period of last year.

It is mainly sold to Brazil, the United States, South Africa and other markets, with a total sales of 388300 sets, including 70300 energy storage inverters, 215000 series grid connected inverters and 102900 micro grid connected inverters.

The gross profit rate of inverter finishing was 37.19%, up 2.37 pct compared with the previous year. This shows that the top battery companies’ business scope is worldwide.


As one of the top battery companies, SUNGROW is a high-tech enterprise focusing on new energy equipment. The main products include photovoltaic inverter, wind power converter, energy storage system, new energy vehicle drive system, surface photovoltaic equipment, intelligent energy operation and maintenance services, etc. The company has accumulated rich experience in the field of photovoltaic inverter.

In 2020, the global photovoltaic inverter shipment was 35GW, ranking the second in the world. The energy storage converter and photovoltaic inverter are of the same origin. The company has transferred its technical experience to the energy storage industry, with obvious benefits.

The five top battery companies including Great Power, Pylon Tech, Greenway, Deye and SUNGROW

The energy storage business of the company mainly focuses on energy storage integration system. SUNGROW adopts a coreless strategy, that is, in addition to the outsourcing of electric cores, PCS, PACK, EMS and BMS are all developed and produced by the company itself to ensure the deep coupling of the whole system.

The company has started its energy storage business since 2014 and has formed a deep coupling integration technology among PACK, PCS, EMS and BMS to ensure the safe operation of the entire energy storage system and meet the needs of various application scenarios.

In addition, the company has the advantage of customer collaboration. The global inverter customers and energy storage customers overlap. Relying on the customer and channel advantages accumulated in the field of photovoltaic inverter, the company rapidly expanded household energy storage business, and launched household energy storage system and household optical storage all-in-one machine business.

Top battery companies’ income is stable. SUNGROW’s energy storage system business revenue grew rapidly and its profit steadily increased. The energy storage system integration business of the company mainly focuses on system integration, intelligent management, operation security, etc.

The company signed a joint venture contract with Samsung SDI in South Korea in November 2014, established a joint venture in Hefei, China and began to enter the field of energy storage system. In 2016, Sunshine Samsung, a subsidiary of the company, was put into production with an annual capacity of 2000MWh. 

From 2018 to 2021, the revenue of energy storage business grew steadily, with a growth rate of more than 150%. In 2021, the revenue reached 3.138 billion RMB. At present, the company’s energy storage products and systems are widely used in China, the United States, Germany, Japan, the United Kingdom, Australia, Canada, Spain, India, Thailand, Cambodia, South Sudan, Maldives and other countries around the world. 

The energy storage business in the global market has developed well. In 2020, the company’s share in the industrial and commercial energy storage market in North America will exceed 20%; In Australia, the market share of household optical storage systems exceeds 24%.

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