The global lithium battery equipment industry is experiencing a strong "order frenzy".

According to incomplete statistics from Gaogong Lithium Battery, in the first half of 2025, several leading equipment companies such as Pioneer Intelligence, Haimuxing, Yinghe Technology, and Liyuanheng have disclosed a total of over 30 billion yuan in new and ongoing orders, with a year-on-year growth rate of 70% to 80%. A new round of expansion in the battery industry has been fully launched.

From the order structure, it can be seen that the demand for equipment in this round not only comes from capacity expansion, but also from multiple trends such as solid-state batteries, overseas factory construction, and production line upgrades.

The orders of leading enterprises have shown explosive growth.

The total amount of new orders signed by Pioneer Intelligence in the first half of 2025 reached 12.4 billion yuan, a year-on-year increase of nearly 70%; Haimuxing's newly added orders from January to June amounted to approximately 4.421 billion yuan, a significant increase of 117.5% year-on-year. As of the end of June, the scale of orders in hand exceeded 10 billion yuan; As of the end of the first quarter, Yinghe Technology's liabilities due to order contracts reached a historical peak of 2.759 billion yuan, with a month on month increase of 67%; As of the end of May, Liyuanheng had orders in hand of 4.921 billion yuan.

The continuous increase in orders clearly indicates a trend. Leading battery companies are significantly increasing capital expenditures to cope with technological iteration, accelerate overseas expansion, and upgrade production capacity. The strong downstream production data provides a solid basis for this judgment.

At present, the prosperity of the lithium battery industry continues to rise. The overall production schedule during the Q3 peak season achieved a month on month growth of 6% to 8%, continuing the upward trend since August. The production schedule of leading battery companies increased by 8% month on month in September, reaching a level of 70GWh, and has maintained a growth rate of over 5% for two consecutive months. Energy storage companies also maintained a year-on-year growth rate of 15% to 20% in Q3 production scheduling.

Battery leaders remain optimistic about their growth guidance for 2025, generally maintaining above 20%; Electrolyte manufacturers have also provided feedback that the growth rate of downstream orders is close to 30%.

Analysis has pointed out that, supported by multiple factors such as the rapid increase in single vehicle charging capacity, the continuous increase in electric heavy-duty trucks, the start of new vehicle models by European car companies, and the explosive demand for energy storage in emerging markets, industry demand is still expected to maintain a growth rate of around 20%.

Previously, the market's concerns about domestic energy storage in the second half of the year (cancellation of mandatory allocation), US energy storage (impact of tariffs), and next year's power demand (reduction of purchase tax) may leave potential room for upward revision of production scheduling data from the fourth quarter of 2025 to the first quarter of 2026.

Solid state battery devices have become an important new engine for order growth. Especially in the consensus new processes of solid-state batteries such as dry electrodes, laminations, and isostatic pressing.

Putailai's solid-state battery equipment orders from January to May 2025 reached 400-500 million yuan. Its dry film forming, composite equipment, and laminating machines have obtained orders and partially delivered them. It has also signed a joint development agreement with French Blue Solutions to jointly develop fourth generation solid-state battery materials and equipment solutions;

Haimuxing has signed a 400 million yuan, 2GWh solid-state battery assembly line order, becoming the industry's first commercial supplier of lithium metal high-energy density solid-state battery assembly line equipment. Its equipment produces batteries with an energy density of over 450Wh/kg, which have been applied to Yihang Intelligent eVTOL aircraft;

Pioneer Intelligence expects solid-state device orders to reach 800 million to 1 billion yuan for the whole year. It has a deep technical layout in the field of solid-state batteries, with an efficiency of 50m/min for composite transfer printing equipment and a stacking alignment of ± 0.2mm for mass-produced solid-state laminating machines. It has been applied to international leading customer pilot lines. At the same time, the company has successfully developed a 600MPa high-capacity isostatic pressing equipment, which solves the problems of electrode displacement and edge shear during the densification process of the solid solid interface, significantly improving the process level of solid-state battery production.

Liyuanheng, with its technological leadership in all solid state battery whole line solutions, has achieved the delivery of sulfide and oxide full system equipment in the first quarter of 2025 and successfully obtained whole line orders from leading car companies;

DaZu Lithium Battery also won the bid for the testing and assembly process equipment project of Dongfeng Hongtai solid-state battery pilot line in March 2025. The demand for solid-state batteries is rapidly increasing at least in the pilot stage.

At the same time, overseas markets have become a key area of high growth and high profitability.

In the first half of the year, HaiMuXing signed new overseas orders worth 1.888 billion yuan, a year-on-year increase of 192.5%. The company has achieved a transformation from a "support oriented" to a "business oriented" international business by establishing 8 subsidiaries in Europe, North America, and Asia Pacific, and acquiring the laser plastic welding business of Leister Group in Switzerland, obtaining exclusive "GLOBO welding" technology.

The gross profit margin of Pioneer Intelligent's overseas business is as high as 40.27%, significantly better than the domestic level, and its technology and equipment have been highly recognized by international customers. Yinghe Technology has made significant progress in cooperation with leading global battery companies, with multiple high-performance double-layer extrusion coating machines and roll cutting integrated machines being shipped to the customer's 40GWh super factory in Hungary, deeply empowering the European strategic layout.

Equipment companies have transformed from simply benefiting from "scale expansion" to becoming "technology leaders". With leading technologies such as dry electrode, isostatic pressing, and solid-state battery assembly line solutions, as well as enhanced global layout capabilities through acquisitions and collaborations, they are achieving higher value-added breakthroughs in the global market.

With the continuous implementation of new capacity bidding for battery companies in the second half of the year, the lithium battery equipment industry is expected to experience a dual improvement in performance and valuation.