CATL Led the Electric Vehicle Battery Market from January to May this Year
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Update time : 2022-07-06 14:32:23
According to a new report by South Korean market research firm SNE Research, the global EV power battery installed base reached 157.4 GWh from January to May 2022, an increase of 77.3% year-on-year, and the market has maintained this upward trend since the third quarter of 2020.
In terms of vendor rankings, CATL ranked first with a 33.9% market share and 53.3 GWh of batteries installed, up 112.1% YOY; LG Energy Solutions ranked second with 22.6 GWh of batteries installed, up 7.9% YOY; and BYD ranked third with 19.0 GWh of batteries installed, up 210.5% YOY. BYD was third with 19.0 GWh, an increase of 210.5%. Panasonic, SK On and Samsung SDI were next with 16.5 GWh, 10.8 GWh and 6.9 GWh respectively.
SNE Research noted that many Chinese battery manufacturers are leading the market growth driven by the strong Chinese EV market, with Ningde Times and BYD leading the market, in addition to most Chinese battery manufacturers including Sinova and Xinwanda increasing their market share. On the other hand, Japanese manufacturers, including Panasonic, are still in a downward trend, with growth rates mostly below the market average.
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