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|
|LG Energy Solution||18.5%||13.6%|
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)
Log in I forgot my password Sign up