LG Energy Solution Remained Top in Non-Chinese Global[1] EV Battery Usage[2]
from Jan to
July 2022
- The K-trio all put up a
good fight with their market shares increased to 55.6% from 55.2% in the same
period of last year.
In
the ranking of battery installation for global electric vehicles (EV, PHEV,
HEV) excluding the Chinese market sold from January to July in 2022, Korea’s LG
Energy Solution remained top on the list, and SK-On and Samsung SDI solidified
their high ranks in the top 5, taking the 4th and 5th
positions respectively. The market shares of the K-trio companies in total
reached 55.6% accordingly.
This
tally excludes the usage of batteries installed in electric vehicles sold in China
from that of the global market.
From
January to July 2022, the amount of energy held by batteries for electric
vehicles registered worldwide except in China was 105.5GWh, a 40.3% YoY increase,
drawing an upward curve on a steady basis.
By
company, LG Energy Solution maintained the No.1 position with an 18% increase
to 31.1GWh. CATL, ranked 3rd on the list with a remarkable 119.2%
growth even in the non-Chinese market.
(Source:
Global EV and Battery Monthly Tracker – August 2022, SNE Research)
SK-On,
registering a triple-digit growth rate, recorded 15.5GWh with its market share
increased by 4.8%p.
Samsung
SDI took the 5th position on the list with 12.0GWh, a 56.6%
increase.
The
combined market share of the three Korean battery companies was 55.6%, a 0.4%p
increase compared to the same period of last year, managing to keep the same
share to that of Q1 2022 (55.6%).
On
the other hand, the Japanese battery makers such as Panasonic, PEVE, and LEJ had
a relatively poor performance with a lower growth than the other global battery
makers, losing their shares in the market.
On
the contrary to the Japanese companies, some of the Chinese battery makers have
been boasting an explosive growth. CATL took the 3rd position on the
list with almost 2.2 times growth as BEV sales including Tesla Model 3 (made in
China and exported to Europe, North America, and Asia), Mercedes-Benz EQS, BMW
iX3, and Cooper increased. Apparently, even in the market outside China, CATL has
grown fast and high. Sunwoda, with the highest growth among the top 10 companies,
captured the 8th position as the demand for Dacia Spring Electric by
Renault in Europe sharply increased.
The
steady growth trend of the K-trio companies was resulted from solid sales of
electric vehicle models equipped with batteries of each company. LG Energy
Solution’s growth was based on the increasing sales of Volkswagen
ID.4, Tesla Model 3 and Y, and Ford Mustang Mach-E. SK-On kept a momentum for high
growth driven by strong sales of Hyundai Ionic 5, and KIA Niro BEV and EV6.
Samsung SDI was favorably affected by the sales increase of PIAT 500, Ford Kuga
PHEV, and Jeep Wrangler PHEV.
(Source:
Global EV and Battery Monthly Tracker – August 2022, SNE Research)
Meanwhile,
battery installation in July 2022 was 14.9GWh, a 35.4% YoY increase.
By
company, LG Energy Solution remained top on the list, and SK-On and Samsung SDI
showed a double-digit growth. CATL from China saw another sharp growth more
than 1.8 times than before, while BYD and Sunwoda ranked 7th and 9th
with the highest growth rate among the other players.
LG
Energy Solution managed to keep the No.1 position in the non-Chinese market
from January to July 2022, but there are still obvious pressures on the K-trio
as CATL and Sunwoda tried to catch up with their competitors at a fast pace. Amidst
other threatening factors looming in North America and European region – two
biggest markets for the Korean battery makers, more attentions should be given
to how the Inflation Reduction Act in the US would influence future strategies
established by the K-trio.
[2] Based on battery installation for xEV registered during the relevant period.