Six of the top 10 manufacturers of electric vehicle batteries in 2022 were Chinese firms. According to shipments, China’s CATL, which came in first place, amassed a market share of about 40%.
According to SNE Research, a market research and consultancy firm on March 27, battery sales by electric car battery manufacturers hit 690 gigawatt hours (GWh) in 2018. Battery pack sales were valued at $125.5 billion in the United States.
In terms of sales and capacity, the top 10 battery manufacturers accounted for 71 and 93 percent, respectively. With a market share of 27.5 percent based on sales and 39.1 percent based on exports, China’s CATL kept its commanding top spot.
When comparing the shares of Korean battery manufacturers based on sales, LG Energy Solutions came in second with 12.3%, followed by Samsung SDI (6.0%) and SK On (4.6%). According to shipments, LG Energy Solutions (14.9%) came in second, while SK On (6.4%) and Samsung SDI (5.2%) moved up to the fifth and sixth spots. The aggregate share of the Korean battery trio, calculated based on exports, was 26.5 percent, which is 12.6 percentage points less than China’s CATL.
In terms of shipping, Panasonic of Japan came in fourth (7.1%), and in terms of revenue, it came in sixth (3.6%). Except for Panasonic of Japan and the three Korean battery manufacturers, all of the other top 10 companies were Chinese businesses.
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