Global EV battery usage increased by 71.8% from 2021 to 2022, according to South Korea-based SNE Research. BYD reached the same battery installation level as LG Energy Solution last year. The duo's competition for the world's second-largest battery maker has grown fierce.
SNE Research released an analysis regarding the 2022 global EV battery usage on February 7. The data was aggregated from the battery, plug-in and hybrid EV sales in 80 countries.
According to the research firm, worldwide battery installation was 517.9GWh last year. The number is expected to grow to about 749GWh in 2023. Thanks to the ongoing automotive electrification, the compound annual growth rate of global EV battery usage from 2017 to 2022 achieved 54%.
Top 10 EV battery companies by global usage | ||||
Rank | Company | 2022 battery usage (GWh) | YoY change (%) | 2022 market share (%) |
1 | CATL | 191.6 | 92.5 | 37 |
2 | LGES | 70.4 | 18.5 | 13.6 |
3 | BYD | 70.4 | 167.1 | 13.6 |
4 | Panasonic | 38 | 4.6 | 7.3 |
5 | SK On | 27.8 | 61.1 | 5.4 |
6 | Samsung SDI | 24.3 | 68.5 | 4.7 |
7 | CALB | 20 | 151.6 | 3.9 |
8 | Gotion | 14.1 | 112.2 | 2.7 |
9 | Sunwoda | 9.2 | 253.2 | 1.8 |
10 | Farasis | 7.4 | 215.1 | 1.4 |
Source: SNE Research, compiled by DIGITIMES Asia
China-based companies accounted for six of the top 10 battery makers last year. CATL was crowned again with the usage of 191.6GWh, increasing 92.5% on year. Its global market share grew from 33% in 2021 to 37% in 2022.
In January, the world's largest battery maker announced a production base project for the CATL Integrated Intelligent Chassis (CIIC) in China's Jiangxi Province. According to the company, CIIC will feature CATL's cell to chassis technology.
SNE Research's data showed LGES and BYD rivaled in 2022 global EV battery usage. The pair both reached 70.4GWh, but BYD experienced a more significant year-over-year growth at 167.1%.
SNE Research said BYD's strong sales of its BEV and PHEV models, mostly in the China market, contributed to the high battery growth. The company has also expanded to Europe, Japan and other markets, which will help its battery installation in the future.
LGES's growth in 2022 was driven by the solid sales of Volkswagen ID. 4, Tesla Model 3 and Y, and Ford Mustang Mach-E, according to SNE Research. The South Korean battery maker reported record revenue of KRW25.6 trillion (US$20.36 billion ) in 2022. It said the target for its global production capacity this year is 300GWh. It plans to achieve 55GWh in North America, 90GWh in Poland and 155GWH in Asia.
Japan-based Panasonic saw its battery usage increase mildly by 4.6% in 2022. SNE Research said the growth was largely driven by the models of Tesla, its major customer, and Toyota BZ4X.
Among the top 10 EV battery makers, China-based Sunwoda grew the most at 253.2%. Its domestic competitor Farasis made it to the top 10 for the first time with global usage of 7.4GWh in 2022. SNE Research said the company expanded rapidly due to the sales of the Mercedes EQ series sold to Europe.
The research firm also said China-based companies like CATL, BYD and CALB expanded to overseas markets after the US passed the Inflation Reduction Act (IRA). The Act aims to reduce the US' reliance on battery resources from other countries. Competitions among global battery makers in non-China markets are expected to heat up.
