The safety accidents of energy storage systems highlight the importance of thermal management. Thermal management has become the core of energy storage systems. Air cooling and liquid cooling are currently mature Technology roadmaps. We have previously listed five major energy storage battery companies. The top ten energy storage battery thermal management companies in China that participate in the energy storage thermal management industry can be divided into two categories according to the source of the Technology roadmap. The first category is air cooling technology, and the second category is liquid cooling technology companies.
Top 10 thermal management companies for energy storage batteries
Fetium:
Company Introduction: The company was established in 2005.
Founded in 2005, it is a leading supplier of precision temperature control energy-saving equipment in China, committed to providing cooling solutions for cloud computing data centers, computer rooms, communication networks, power grids, energy storage systems, passenger cars, rail transit trains, and other fields. The company has always attached great importance to technological research and development and industry development needs and has basically built a full-chain technology platform for equipment cooling from heat sources to cold sources. Downstream customers include Tencent, Alibaba, China's three major telecommunications operators, Huawei, BYD, and others.
In 2021, the company's revenue and net profit attributable to the parent company were 2.23 billion yuan/2.1 billion yuan, respectively, with a year-on-year increase of 30.8% and 12.9%. The main source of income for the company. The company is the earliest among the top ten thermal management companies for energy storage batteries in China to involve temperature control of electrochemical energy storage systems. Based on years of accumulation of battery temperature control technology, the company has now become a company capable of providing full chain energy storage temperature control solutions, including air cooling and liquid cooling.
On the basis of the original MC series air-cooled temperature control equipment, water-cooled units will be launched in 2020 and will be promoted and applied in batches. The refrigeration capacity span is 3KW-100KW, which can meet various energy storage application scenarios of 3MWh. It is currently the leading energy storage layout supplier in the industry. In 2021, the operating revenue of energy storage applications was approximately 337 million yuan, a year-on-year increase of+250%, and its contribution to the company's business will significantly increase.
Total market value: RMB 9.613 billion
Company website: www.fethium.com
Same flight:
Company Profile: Tongfang Co., Ltd. is one of the top ten thermal management companies for energy storage batteries in China.
Tongfang Co., Ltd. is one of the top ten thermal management companies for energy storage batteries, established in 2001 and listed on the Shenzhen Stock Exchange's ChiNext in 2021. It has been focusing on the field of industrial temperature control equipment and is a national-level specialized, refined, and new enterprise. At present, the company's main products can be divided into four categories: liquid constant temperature equipment, electric box constant temperature devices, pure water cooling devices, and special heat exchangers. Downstream application scenarios mainly include CNC machine tools and laser equipment, power electronic devices, electrochemical energy storage systems, semiconductor manufacturing equipment, hydrogen energy equipment, industrial washing equipment, and other fields.
In 2021, the company will achieve revenue of 830 million yuan, a year-on-year increase of 35.5%, with revenue growth rates of 43% and 57% for liquid constant temperature equipment and electric box constant temperature devices. The liquid constant temperature equipment and electric box constant temperature device produced by the company can provide air cooling and liquid cooling solutions for electrochemical energy storage systems, respectively. At present, the company's customers in the energy storage field include Sungrow, Kelu Electronics, Narada, and others. The energy storage business is in a rapid development stage.
Total market value: RMB 4.727 billion
Gao Lan:
Company Introduction: Established in 2001, the company is a leading supplier of pure water cooling equipment for power electronic devices in China.
The top 10 thermal management company for energy storage batteries was established in 2001 and is a leading supplier of pure water cooling equipment for power electronic devices in China. Listed on the in 2016. Through endogenous mergers and acquisitions, the business has gradually expanded to fields such as new energy vehicle thermal management, energy storage temperature control, and data center temperature control. The company has established long-term cooperative relationships with high-quality customers at home and abroad, such as Goldwind, ABB, GE, CATL, BYD, etc.
From 2016 to 2021, the company's revenue increased from RMB 470 million to RMB 1.68 billion, with a compound annual growth rate of 29.1%. In 2021, due to the repeated outbreak of the epidemic, raw material prices will rise, and competition will intensify. The net profit attributable to the parent company will be under pressure and decline. The company continues to invest in the research and development of thermal management technology for energy storage batteries. At present, the company has technical reserves and solutions in lithium battery single-compartment energy storage liquid cooling products, large energy storage power station liquid cooling systems, prefabricated compartment energy storage liquid cooling products, and other aspects., And signed a small number of prototype contracts.
The company has a deep technical accumulation in the field of liquid cooling. With the development of energy storage systems with larger battery capacity, higher power density, and more complex operating conditions, such as large-scale wind and solar power stations. The penetration rate of liquid cooling solutions is expected to rapidly increase, and the company's energy storage thermal management products will fully benefit, becoming one of the top ten energy storage battery thermal management companies.
Total market value: RMB 2.833 billion
Shen Ling:
Company Profile: As one of the top ten thermal management companies for energy storage batteries, the company was established in 2000 and went public in 2021.
As one of the top ten thermal management companies for energy storage batteries, the company was established in 2000 and went public in 2021. Its main business is air environment conditioning equipment represented by professional special air conditioners. The main products include data service air conditioning, industrial air conditioning, special air conditioning, public buildings, and commercial air conditioning.
As one of the top ten thermal management companies for energy storage batteries, the company is the core supplier of Huawei's temperature control equipment. Its downstream customers also include Internet-leading enterprises such as Tencent and Alibaba, three major operators, new energy vehicle enterprises such as Tesla, and cross-industry enterprises such as the State Grid and Sinopec.
In 2021, the company's revenue and net profit attributable to the parent company were RMB 1.80 billion and RMB 1.4 billion respectively, with year-on-year growth of+22.6% and 12.6%, respectively. The company's industrial air conditioning products can be applied to energy storage heat management systems, and the energy storage business is in its early stages of development. In 2021, with the rapid growth of the energy storage scale brought about by new energy generation, the company will actively expand new business, new customers, and new application scenarios. The R&D investment increased by 23.67% year-on-year, aiming to strengthen the development of new products in key industries such as DPC phase change cooling systems, liquid cooling systems, and electrochemical energy storage heat management systems in data centers.
Total market value: RMB 5.472 billion
Songzhi:
Songzhi is a leader in China's automotive thermal management products. Its main products include thermal management products in the fields of automobiles, rail transit, cold chain logistics, etc., widely used in large and medium-sized buses, passenger cars, trucks, light buses, and refrigerated trucks. In 2021, the company will achieve revenue of 4.12 billion yuan, a year-on-year increase of 21.9%. The revenue from thermal management products for small cars and large and medium-sized buses will account for 61.3% and 23.0%, respectively.
The company began laying out its energy storage business in 2020. The developed liquid-cooled energy storage thermal management system cools the battery through a cooling water plate, greatly improving the cooling efficiency of the battery. It can basically achieve constant temperature operation of the battery and greatly improve its service life. At present, the company has achieved mass production of two energy storage thermal management products, and multiple products are under development.
At the same time, the application of new refrigerants in energy storage thermal management, ultra-long life design, and precise control of electronic expansion valves are also being developed and validated in sync with the new generation of products. At present, it has become a supplier of various thermal management products for energy storage batteries for customers such as CATL and Envision Energy among the top ten energy storage battery companies in China.
Total market value: RMB 3.702 billion
Sanhua Intelligent Control:
Sanhua Intelligent Control is the world's largest manufacturer of refrigeration control components and a leading manufacturer of automotive thermal management components. The market share of new energy vehicle thermal management integrated components, Omega pumps and other products ranks first in the world. The global market share of products such as globe valves, automotive thermal expansion valves, and energy accumulators is at the forefront of the world.
The company's new energy thermal management products have been supplied in large quantities to well-known electric vehicle companies in the United States, and have received orders from companies such as BBA, General Motors, Toyota, and BYD. In 2021, the company's operating revenue and net profit attributable to the parent company were 16.021 billion yuan/1684 billion yuan, respectively, representing a year-on-year increase of 32.3% and 15.2%. The revenue from the refrigeration and air conditioning components and automotive components business was+16.36% and+94.50%, respectively.
At the end of March 2022, the company established its wholly-owned subsidiary Sanhua New Energy Thermal Management Technology (Hangzhou) Co., Ltd. We plan to conduct energy storage thermal management-related businesses globally. The company provides thermal management components according to customer needs, including valves, pumps, heat exchangers, etc.
Total market value: RMB 67728 million
Yinlun Shares:
Company Profile: As one of the top ten enterprises in the thermal management of energy storage batteries, the company has established a strong competitive advantage in the field of thermal management of traditional commercial vehicles, passenger vehicles, and construction machinery. Currently, it is accelerating the development of new energy passenger vehicle thermal management and industrial heat exchange business. In 2021, the company's new energy business achieved rapid development, achieving revenue of 1.05 billion yuan, a year-on-year increase of 223%, and has high-quality customer resources such as NIO, Xiaopeng, General Motors, Ford, CATL, Geely, Great Wall, BYD, Yutong, Chang'an.
In order to ensure the long-term sustainable growth of the company's business, the company established a joint venture with China Power Investment Corporation to deploy the energy storage heat management system. The company disclosed in its 2021 annual report that emerging fields include energy storage thermal management, engine heat exchange products, ultra-high voltage power transmission, and transformation cooling products, and involve customers such as Samsung and LG.
Total market value: RMB 7.058 billion
Otjia:
Company Introduction: The company mainly engages in the research and development and production of automotive thermal management systems and components. The main products include automotive air conditioning systems, automotive air conditioning compressors, thermal management products for energy storage batteries, and their key components. Major customers in China include Weiqiao, Geely, Chery, BYD, SAIC-GM-Wuling, Chang'an, some new energy vehicle research and development institutions, and automobile control system integrators; Major international customers include Volkswagen, Ford, General Motors, Jaguar Land Rover, Tata Motors and some emerging new energy vehicle manufacturers.
In 2021, the company will achieve operating revenue and net profit attributable to the parent company of 5.14 billion yuan/1.3 billion yuan, with year-on-year growth of+37.9% and+54.8%. In 2021, the wholly-owned subsidiary of the company, Shanghai Air Conditioning International, developed rapidly in thermal management of energy storage equipment. Due to its promising development prospects, in June of the same year, the company established Aites New Energy Technology (Shanghai) Co., Ltd., specializing in the thermal management business of energy storage batteries. The R&D project of "Energy Storage Liquid Cooling and Thermal Management System" initiated by the company in 2021 has been put into mass production at the end of the same year.
Total market value: RMB 8.043 billion
Langjin Technology:
Company Introduction: In its early days, the company focused on air conditioning and control systems for rail transit vehicles, providing a series of variable frequency energy-saving air conditioning products that meet the needs of various types of rail transit vehicles. The company is closely following the explosive growth of new energy vehicles and the digital economy, relying on the core advantages of intelligent frequency conversion energy-saving technology and refrigeration heat pump technology, actively developing and expanding new energy vehicles, data centers, computer rooms, communication networks, energy storage systems, intelligent equipment cooling solutions, and power grid energy-saving temperature control products, steadily expanding the industry market.
As a temperature control equipment supplier for new energy storage power stations, the company continuously increases its research and development investment and market investment in the industry. At present, the company has established business cooperation with some domestic enterprises and achieved batch production and sales of some orders.
Total market value: RMB 1.423 billion
Jialitu:
Company introduction: Top 10 thermal management enterprises of energy storage batteries, founded in 2003, was listed on the Shanghai Stock Exchange in 2017. It is a leading enterprise in China's data center precision air conditioning and the domestic brand with the highest market share in China. The main products include precision air conditioning equipment and integrated products for computer room environments. Downstream customers include well-known companies such as the three major operators and Huawei.
In 2021, the company will achieve a revenue of 667 million yuan, a year-on-year increase of 6.68%. Affected by the epidemic and the rise in metal raw material prices, the net profit attributable to the parent company will be 85 million yuan, a year-on-year decrease of -26.35%. The "VRH Modular Composite Multi-unit Refrigeration Unit" project developed by the company in 2021 can be applied to the thermal management of data centers and energy storage containers simultaneously.
Total market value: RMB 3.359 billion
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