Demand for batteries for electrified vehicles (hybrid, plug-in and electric) continues to grow increase month by month. To support the growing demand from car manufacturers, companies in the sector are investing heavily in increasing battery production and building new factories. Thus, the battery market is booming and SNE Research has taken a snapshot of the sector. for the month of October and the period January-October 2022.
In more detail, then first 10 months of the yearwas the overall demand for batteries equals 390.4 GWh. This is 75.4% more than in the same period last year. CATL continues to be the leader in this market.
As for the data for the period January-October 2022, first of all we find, as mentioned earlier, CATL by a wide margin from LG Energy Solution. Third rung of the podium for BYD. Then comes Panasonic.
- CATL: 137.7 GWh (35.3%)
- LG Energy Solutions: 53.7 GWh (13.8%)
- BYD: 51.5 GWh (13.2%)
- Panasonic: 30.8 GWh (7.9%)
- SK On: 24.1 GWh (6.2%)
- Samsung SDI: 18.9 GWh (4.8%)
- KARB: 16.3 GWh (4.2%)
- Gotion High Tech: 11.3 GWh (2.9%)
- Sanvoda: 6.5 GWh (1.7%)
- EVA: 6.1 GWh (1.3%)
- Other: 34.3 GWh (8.8%)
However, moving on to the month rankings, we obviously always see CATL pretty much in the lead. However, in second place is BYD which has been growing rapidly in recent months. Thirdly LG Energy Solutions and fourth panasonic.
- CATL: 18.1 GWh (37.6%)
- BYD: 7.8 GWh (16.2%)
- LG Energy Solution: 5.4 GWh (11.3%)
- Panasonic: 3 GWh (6.3%)
- SK On: 2.6 GWh (5.4%)
- Samsung SDI: 2.4 GWh (4.9%)
- CALB: 2.1 GWh (4.4%)
- Gotion High Tech: 1.5 GWh (3%)
- Sanvoda: 0.7 GWh (1.5%)
- EVA: 0.6 GWh (1.3%)
- Other: 3.8 GWh (8%)
Data showing how CATL continues to dominate the battery market month after month. In addition, it is easy to notice with Asia and, in particular, with China is the center of attraction for this sector increasingly important for the development of electric vehicles. As we know, Europe is working to reduce its dependence on Chinese suppliers, but there is still a lot of work to be done.
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Source: HD Motori
Ashley Fitzgerald is an accomplished journalist in the field of technology. She currently works as a writer at 24 news breaker. With a deep understanding of the latest technology developments, Ashley’s writing provides readers with insightful analysis and unique perspectives on the industry.