Chinese battery companies have captured more than 60% of the global electric vehicle battery market. CATL has a market share of 37%, occupying an absolute hegemony in the world. Last year, BYD’s total battery installations grew by 167.1% year-on-year.
The results of the 2022 annual competition for global power battery manufacturers have finally been announced.
On the morning of February 8, 2023, the global information agency SNE research released the latest statistics. In 2022, the total installed capacity of global power batteries (EV, PHEV, HEV) will be 517.9 GWh, a year-on-year increase of 71.8%.
Chinese battery companies have captured more than 60% of the global electric vehicle battery market, and their advantages continue to expand. In 2021, the overall global market share of Chinese companies will only be close to half.
The Ningde era undoubtedly dominated the list with 191.6 GWh and a market share of 37%. In the competition for second place, BYD and South Korean company LG New Energy unexpectedly drew a tie, ranking second with a total installed vehicle volume of 70.4 GWh and a market share of 13.6%, and Japan’s Panasonic ranked fourth.
Analyzing the list data in detail, the Ningde era still occupies an absolute hegemony in the world. This is first reflected in the growth rate. Even if it continues to top the list, its annual battery loading has achieved a high growth rate of 92.5%, which is higher than the global average growth rate. In 2022, the total installed battery capacity of Ningde era will be 191.6 GWh, which is nearly double that of 99.5 GWh in 2021. In the second half of the year, the Ningde era showed a more rapid growth momentum, with a total installed vehicle volume of 122.6GWh, about twice the 69GWh in the first half of the year.
In terms of market share,The 37% market share of the Ningde era is not only 4 percentage points higher than the 33% in 2021, but also almost three times that of BYD or LG New Energy’s 13.6% market share, and it is also about equal to BYD, LG New Energy, Panasonic, The combined market share of the four SK ON companies.
According to SNE research analysis, the increase in sales of Tesla Model 3/Y, GAC Aion Y, Geely Automobile’s ZEEKR 001 and other models has driven its growth.
The second place, BYD and LG New Energy, seem to be evenly matched, but the changes in the data hide more information.
Last year, BYD’s total battery installations increased by 167.1% year-on-year, while LG New Energy’s total battery installations increased by only 18.5% year-on-year. In terms of market share, LG New Energy lost 6.1 percentage points, while BYD gained 4.9 percentage points.
According to SNE research analysis,The explosive growth of BYD’s battery loading is due to the high sales volume of BYD’s Yuan, Han and Qin Plus series in the Chinese market last yearwhile the data support of LG New Energy relies on the positive sales of Tesla Model 3/Y, Volkswagen ID.4, and Ford Mustang Mach-E.
According to the production and sales bulletin previously released by BYD, in 2022, the company produced a total of 1.877 million new energy vehicles, a year-on-year increase of 209.17%; and sold a total of 1.8635 million new energy vehicles, a year-on-year increase of 208.64%. In 2022, BYD’s new energy vehicle sales will surpass Tesla’s (1.31 million sales in 2022), becoming the “top sales” of new energy vehicles in the world. BYD’s self-produced blade batteries have been installed in all its new energy vehicle products.
Matsushita, a veteran battery company in Japan, has shown a waning trend. It ranked fourth with an installed capacity of 38 GWh, but its growth rate was only a single digit of 4.6%, and its market share fell by 4.7 percentage points to 7.3%. It is also the only Japanese battery company shortlisted on the list. Panasonic is still one of Tesla’s main battery suppliers, so its barely growing battery capacity still relies on the increased sales of Tesla vehicles in the North American market and the increased sales of Toyota’s BZ4X.
In the top ten list,There are a total of 6 Chinese companies, showing a rapid growth momentum。In addition to Ningde Times and BYD, Zhongxinhang, Guoxuan Hi-Tech, Sunwoda, and Funeng Technology ranked 7th to 10th respectively. The total installed battery capacity of the six Chinese companies was 312.7GWh, an increase of 114.8% year-on-year, and the market share was 60.4%, an increase of 12.2 percentage points compared with 48.2% in the previous year. ‘
Among them, Sunwoda’s battery loading volume increased by 253.2% year-on-year, and its growth rate ranked first among the top ten. The growth rates of Funeng Technology, China Innovation Aviation and Guoxuan Hi-Tech also reached 215.1%, 151.6% and 112.2% respectively.
It is worth mentioning that Funeng Technology has entered the top 10. Its sales growth is attributed to the good sales of the Mercedes-Benz EQ series sold in Europe, and it is expected to continue to show a growth trend in 2023.
Looking at the three battery companies in South Korea, the overall battery loading is also increasing, but the market share has dropped by 6.5 percentage points year-on-year, from 30.2% to 23.7%. SK-On and Samsung SDI ranked 5th and 6th respectively, with installed capacity reaching 27.8 GWh and 24.3 GWh, an increase of 61.1% and 68.5%.
Among them, SK-On’s performance growth benefited from the increase in sales of Hyundai ionic 5, Kia EV6, and Ford F-150. Samsung SDI benefited from the stable sales of Audi E-Tron, BMW i4, iX and other models.
Looking ahead to the new year, SNE research said that starting from the third quarter of 2020, the global power battery market has continued to grow, and this momentum is expected to continue. According to the forecast of SNEresearch, the global installed capacity of power batteries will reach 749GWh in 2023.
Recently, with the implementation of the “Inflation Reduction Act” (IRA) in the United States, Chinese battery manufacturers such as Ningde Times, BYD, and China Innovation Aviation have begun to accelerate their exit from the Chinese market and achieve a leap to the global market. It is expected that the market share competition between the three Korean companies will become more intense in the future.
The author of this article: Sen Ning, the source of this article: The Paper, the original title: “2022 Global Battery Assembly: Ningde Times Dominates the List, BYD and LG New Energy are tied”
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