At present, tool products are entering the era of cordlessness. The "opening" of tool products to lithium batteries brings new opportunities to lithium battery companies.
In the first half of 2020, despite the impact of the epidemic, the installed capacity of new energy vehicles power batteries in the largest application of lithium batteries has fallen sharply, but the demand for lithium batteries in the tool market such as power tools, garden tools, household cleaning tools, and two-wheeled vehicles remains Maintain the growth momentum.
In addition, due to the impact of the epidemic on overseas trade, domestic power tool giants have accelerated the introduction of domestic cylindrical batteries, which also promoted the performance growth of some companies that are mainly power tool lithium batteries in the first half of the year. In the long run, as the epidemic is gradually brought under control and the global economy slowly recovers, the tool market will maintain a long-term stable growth trend. The cordless trend will also give a vast market space for lithium batteries for tools.
Contact: Ashlee Peng