TWS headset: "here you are."

BYD: "I'm coming."

TWS headset: "you shouldn't have come."

BYD: "but I've come."

BYD, which once vowed to compete with Tesla for electric vehicle sales and also compete with Ningde era for the first brother of power batteries, has now entered the field of TWS batteries,Compete for business with Yiwei lithium energy, Xinwangda, Penghui energy, Ganfeng lithium, etc.With the entry of BYD,TWS batteryThe market situation will rise again, and the war situation will enter the era of 2.0!

drool with envy

Compared with other TWS battery players, BYD, once the "battery king", did come a little late. According to battery china.com,BYD didn't start research and production of TWS battery until this year, but its development speed is very amazing.At present, BYD has supplied batteries for two TWS earphones of Huawei. "One of the needle TWS batteries can be supplied normally, and the button battery is still under test." BYD insiders said.

At present, the ambition of surpassing Tesla and Ningde era is not paid, and BYD doesn't concentrate on new energy vehicles and power batteries. What kind of medicine is sold in the gourd? If you investigate the reason, you will find:BYD is not selling medicine this time, but taking medicine. In fact, BYD is very ill.

Affected by the decline of financial subsidies for new energy and the black swan epidemic, BYD's financial data and sales data are very poor. In 2019, BYD's operating revenue was 127.739 billion yuan, a year-on-year decrease of 1.78%, and its net profit was 1.614 billion yuan, a year-on-year decrease of 41.93%. Among them, the revenue of new energy vehicles was 40.145 billion yuan, a year-on-year decrease of 23.42%. In the first half of this year, BYD sold 60700 new energy vehicles, down 58.34% year-on-year, or more than half.

In terms of power battery, according to the data of power battery application branch, BYD achievedPower batteryThe installed capacity was 2477.2mwh, a sharp decline of 66.37% year-on-year. In contrast, LG Chemical, the "invader", took the second place with an installed capacity of 2488.85 MWh and an increase of 44764.13%, taking away the runner up throne of BYD for many years.

In this unfavourable situation, BYD urgently needs to find new performance growth points. Therefore, BYD fell in love with TWS battery, which has been popular in recent years, which is a big fat meat with rich profits. Is TWS battery really so delicious that even BYD, which advertises itself as a benchmark for new energy vehicles, covets it?

Heroes compete to bow down

The story has to start from the beginning. Back then, at the new product launch in the autumn of 2016, Apple released its 10th generation smartphone iPhone 7. At the same time,Apple's first generation wireless headset (TWS) appleairpods also officially unveiled. In order to perfectly match this new headset, iphone7 gracefully cancelled the headset interface.Apple's unusual operation made fruit fans around the world scream constantly.

The birth of apple airpods quickly triggered a global consumption frenzy of TWS headphones. In fact, since Apple ignited the fuse of TWS earphones, Android mobile phone manufacturers such as Samsung, Huawei, Xiaomi oppo and vivo have quickly heard of it. Meanwhile, earphone and speaker manufacturers such as Bose, Sony, beats, JBL and Duman have also made preparations,For a time, the princes in the field of TWS earphone manufacturing rose and covered the sky with flags.

TWS earphones continue to sell well amid the fierce competition from all walks of life. Let's take a look at a set of data: the market research institution counterpoint research once released the wearable device market forecast,In 2016, the global sales volume of TWS earphones was only about 09million, but it will reach 230million by 2020, with an astonishing increase of 2556% in five years.

The popularity of TWS headphones has driven the strong demand for TWS batteries. According to the above sales data of 230million headphones,Then the corresponding TWS battery demand will reach 460million.From the perspective of "money view", CITIC Securities Research Report said that considering two earphone batteries and a seat charger battery for a TWS, the market size of TWS battery in 2020 is expected to be about 11.1 billion US dollars; It is expected to reach US $20.9 billion by 2025.

In fact, the magic of TWS battery is not only reflected in strong demand,What even touches the nerves of battery manufacturers is their ultra-high gross profit margin.GP has said that TWS headphone batteries are expected to continue to explode in 2020,Button type batteryThe shipment volume will double, and the gross profit margin will be in the range of 50% - 70%, becoming the largest performance growth point.In contrast, the gross profit margin of power batteries is less than 20%, and TWS batteries can be called windfall profits.

As the saying goes: all the bustle in the world is for benefit, and all the bustle in the world is for benefit.High profit is the fundamental reason why BYD "ignores face" to seize the TWS battery market. It is precisely because of profit that many manufacturers of Yiwei lithium energy, Xinwangda, Penghui energy and Ganfeng lithium industry "compete to be inferior".

arms race

TWS headphone batteries are mainly divided into button type and soft bag. At present, the world's mainstream TWS headphones have adopted button batteries, and button batteries will also become the trend of TWS headphone batteries in the future.

Throughout the world, Germany's varta is the first supplier of TWS earphone button batteries, supplying internationally renowned brands such as apple, Samsung, Bose, etc. In addition, LG Chemical is another foreign TWS battery manufacturer. Meanwhile, in recent yearsDomestic TWS battery manufacturers have also sprung up, with Yiwei lithium energy, Penghui energy, Ganfeng lithium, Xinwangda, VDL, Guoguang electronics, Hengtai technology and so on rapidly entering;Many manufacturers have entered the supply chain of high-end customers such as Samsung, JBL, Huawei and Xiaomi.

Production capacity of major manufacturers of TWS headphone batteries source: crystal ball finance and Economics Network

 

according toAccording to Valta's official data, the TWS battery capacity in 2020 is about 80million. In 2020, the shipment volume of Apple's airpods series alone will reach 80million pairs, and the corresponding TWS battery demand is 160million,Not to mention the global total demand of 460million.Obviously, varta's current capacity is quite stretched. This brings domestic manufacturers a rare opportunity to make up for market gaps, and also promotes the "arms race" of major manufacturers to continue to escalate.

Due to the large market demand and short supply of orders, Ganfeng lithium is actively improving the capacity of TWS headphone batteries. At present, Ganfeng lithium has a daily shipment of 100000-120000 button batteries for TWS headphones.The company plans to increase the battery capacity of TWS headphones to 200000-250000 / day (73-91.25 million / year) in the fourth quarter of 2020.

In March this year, 1.05 billion yuan raised by Yiwei lithium energy will be invested in TWS battery project, and the production expansion target will reach 200million. It is reported that in 2019, the capacity utilization rate and production and sales rate of Yiwei lithium bean battery are close to 100%, and it is urgent to expand production to meet the order demand. Yiwei lithium energy predicts that the company's TWS headset battery shipment this year is expected to reach 50million-100million.

In addition, in order to meet the order demand, in June this year, GP said that TWSHeadphone batteryThe existing production capacity will be expanded to 60million annually, and the production capacity will be flexibly adjusted according to the market demand in the future.

Blue sea into Red Sea

On the whole, under the situation that the capacity "arms race" of major TWS battery manufacturers is accelerating, it still cannot meet the market demand.With an ultra-high gross profit rate of 50%-70% and a production and sales rate of almost 100%, BYD chose to enter the field of TWS batteries, which is in line with a normal thinking logic of enterprises for the purpose of profit.Catl looks jealous in the future, and it is unknown to enter.

However, any market will experience a natural destiny from blue ocean to red ocean. At present, under the dividend of TWS earphone market,Yiwei lithium energy, Penghui energy, Ganfeng lithium, Xinwangda, etc. can also live a natural and unrestrained life of "drinking in a big bowl and eating meat in a big mouth" for the time being.However, with the continuous influx of players such as BYD, the battle situation of the giants will also gradually escalate, and the TWS battery market will eventually experience a torrential shower of blood.

Article source:Battery China