South Korean energy market research institution SNE Research on October 6 released its latest data on the global installed battery capacity of electric vehicles. From January to August, 2022, the total installed battery capacity of electric vehicles in the world reached 287.6 GWh, up 78.7% year-on-year. Among them, Chinese firm CATL continued to dominate the list with cumulative installed capacity reaching 102.2 GWh, exceeding the 96.7 GWh achieved last year. From January to August 2022, its global market share was 35.5%, an increase of 5.9% from the same period last year.
Meanwhile, LG Energy Solution of South Korea ranked second with an installed battery capacity of 39.4 GWh, only 2.9 GWh more than BYD in third place. BYD has maintained rapid growth momentum since the beginning of this year, ranking third with an installed capacity of 36.5 GWh, representing a year-on-year increase of 192.3%. In August, BYD’s installed battery capacity was 6.5 GWh, second only to CATL’s 18 GWh, ranking second in the world that month.
Japan’s Panasonic reached an installed battery capacity of 24 GWh, ranking fourth, with a slight increase of 5.3% from 22.8 GWh in the same period last year, but its market share has dropped from 14.1% last year to 8.3%.
In the 5th to 10th places, SK On and Samsung SDI of South Korea ranked 5th and 6th respectively, followed by all Chinese enterprises, namely CALB, Gotion Hi-Tech, Sunwoda and SVOLT.
According to SNE Research, the growth momentum of the three South Korean battery companies is mainly driven by EV sales. Among them, SK On has been propelled by an increase in sales of the Hyundai Ioniq 5 and Kia EV6, while Samsung SDI is driven by an increase in sales of the Audi E-Tron, BMW iX and i4. LG Energy Solution is driven by the favorable sales of Volkswagen ID.4 and Ford Mustang Mach-E and the increased sales of Tesla ModelY.
The data show that the gap between Chinese and South Korean enterprises has further widened. In terms of growth rate, during the eight months, the installed capacity of Chinese enterprises among the top 10 power batteries increased by more than 100% year-on-year, and the loading capacity of Sunwoda increased by 587.5% year-on-year. Among South Korean battery companies, SK On has the largest year-on-year growth rate, reaching 99.2%, and it is also the only South Korean company with an increase in market share.
In the first eight months of this year, the market share of Chinese battery companies reached about 58.1%, an increase of 0.8% from the previous month, while South Korean enterprises held only about 25%, down 0.9% from the previous month.
In addition to publishing data on installed capacity, SNE Research also forecasts battery supply and demand in various regions around the world. It predicts that there will be no shortage of batteries in China before 2030, while the battery supply in Europe and North America is expected to be very tight, although the production capacity in these two regions will be greatly expanded.