Global EV battery market surges almost 72% in 2022, CATL still the leader
The global EV battery market saw a significant uptick in 2022, with a total of 517.9GWh worth of batteries installed on BEV, PHEV and HEV. That's a 71.8% increase year-over-year from 301.5GWh in 2021.
CATL is still the undisputed leader in the segment, with a 37% market share and an impressive 92.5% growth year-over-year. LG Energy Solution and BYD are in a tie, each company representing 13.6% of the market. However, LG saw a rather modest growth of 18.5%, while BYD caught up to with a 167.1% increase in sales.
| Manufacturer | 2022 growth | 2022 market share |
|---|---|---|
| CATL | 92.5% | 37.0% |
| LG Energy Solution | 18.5% | 13.6% |
| BYD | 167.1% | 13.6% |
| Panasonic | 4.6% | 7.3% |
| SK On | 61.1% | 5.4% |
| Samsung SDI | 68.5% | 4.7% |
| CALB | 151.6% | 3.9% |
| Gotion High-tech | 112.2% | 2.7% |
| Sunwoda | 253.2% | 1.8% |
| Farasis Energy | 215.1% | 1.4% |
| Others | 55.9% | 8.6% |
| Total | 71.8% | 100% |
The Japanese Panasonic, and the Korean SK On and Samsung SDI also grew in 2022, but at a much slower pace.
The main reason for CATL's success throughout 2022 was the success of Tesla's Model 3, Model Y, GAC's Aion Y and the Zeekr 001. BYD, on the other hand, rides on the success of domestic BEVs and PHEVs.
Farasis Energy, which is a new entry at the top, grew a whopping 215.1% as Mercedes' main battery supplier for its EQ models.
Source (in Korean)
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