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CATL continues to dominate the EV battery market, takes 33% in Jan-Feb

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Ro, 30 March 2023

CATL BYD Other

Korean market researcher SNE Research came out with a January-February 2023 analysis revealing that CATL is still the largest EV battery maker in the world, taking a 33.9% share. BYD follows with 18.2% and LG Energy Solution is third with 13.3%.

CATL continues to dominate the EV battery market, takes 33% in Jan-Feb

It's important to note that CATL's share declined year-over-year from 35.1%, but it still grew significantly in terms of absolute shipments going from 19 GWh in 2022 to 25.5 GWh in 2023.

BYD, on the other hand, secured a bigger market share compared to the same period in 2022, going from 11.3% to 18.2% in January-February 2023. Shipments grew from 6.1GWh to 13.7GWh (122.6% increase). SNE Research points to BYD's vertically integrated supply chain as the main reason for its good performance this year. It supplies batteries to other manufacturers, but also uses them for its in-house vehicles.

Manufacturer Jan-Feb 2022 shipments in GWh Jan-Feb 2023 shipments in GWh Growth Market share (Jan-Feb 2022) Market share (Jan-Feb 2023)
CATL 19.0 25.5 34.0% 35.1% 33.9%
BYD 6.1 13.7 122.6% 11.3% 18.2%
LG Energy Solution 6.6 10.0 51.9% 12.2% 13.3%
Panasonic 5.3 7.8 47.6% 9.8% 10.4%
SK On 4.0 4.1 3.8% 7.4% 5.5%
Samsung SDI 2.3 3.7 57.2% 4.3% 4.9%
CALB 2.4 2.5 5.0% 4.5% 3.4%
Gotion High-tech 1.7 1.5 -8.2% 3.1% 2.0%
Eve Energy 0.8 1.4 73.9% 1.4% 1.8%
Sunwoda 0.9 1.1 17.5% 1.7% 1.4%
Others 5.0 3.9 -20.8% 9.2% 5.2%
Total 54.1 75.2 39.0% 100% 100%

The Korean LG Energy Solution saw a 5.19% uptick reaching 10GWh total deliveries and securing a larger 13.3% piece of the pie as a result.

The Japanese Panasonic sits in fourth place, placing ahead of Korean SK On and Samsung SDI.

The rest of the top 10 is occupied once again by the Chinese makers CALB, Gotion, Eve Energy and Sunwoda.

Overall, the market is growing fast. In January-February 2022, the total battery shipments grew 39% from 54.1 GWh to 75.2 GWh.

Source (in Korean)

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