Korean LG Energy Solution dominated the car battery market in May, overtaking Chinese CATL, Energy News, ET EnergyWorld
Samsung SDI and SK Innovation ranked 5th to 6th, and the three Korean companies showed steady growth.
According to SNE Research, a market research company, the total battery energy of electric vehicles (excluding EVs, PHEVs, HEV electric buses and electric trucks) recorded worldwide in May was 19.7 GWh. It has increased by more than 3.3 times compared to the previous year.
The electric vehicle battery market was contracted by the COVID-19 crisis in the first half of last year, but has been recovering steadily for 11 months. The recovery trend is expected to continue for the time being.
Many Chinese companies, including CATL and BYD, have performed exceptionally well. With the continuous expansion of the market in China, most of the Chinese companies have increased their market share.
On the other hand, the growth rate of most Japanese companies, including Panasonic, has not reached the market average, and the market share has also declined.
The three Korean companies exhibited unstable growth relative to the market average, but the rapid growth of LG Energy Solution has resulted in an increase in the overall market share.
LG Energy Solution jumped 3.7 times to 5.7 GWh and again ranked No.1 in the market which it awarded to CATL in April.
Samsung SDI grew more than 2.6 times to 1.0 GWh, but its ranking fell from 4th to 5th year-on-year.
SK Innovation has grown over 3.1 times and maintained its 6th place.
The growth of the three companies is affected by sales of EV models equipped with their batteries. LG Energy Solution recorded strong growth thanks to increased sales of Tesla Model Y (made in China), Volkswagen ID.4 and Skoda ENYAQ. Increased sales of Fiat 500 and Audi e-tron EV led to the growth of Samsung SDI. SK Innovation’s market share has grown significantly with increased sales of Kia Niro EV and Hyundai IONIQ 5.