Chinese Companies Expand Presence
Market research firm SNE Research announced on Feb. 8 that the global electric vehicle (EV) battery market share of LG Energy Solution, Samsung SDI and SK On fell from 30.2 percent in 2021 to 23.7 percent in 2022.
Specifically, LG Energy Solution’s market share fell from 19.7 percent to 13.6 percent, SK On’s fell from 5.7 percent to 5.4 percent, and Samsung SDI’s fell from 4.8 percent to 4.7 percent. Last year, the usage of LG Energy Solution batteries increased 18.5 percent from 59.4 GWh to 70.4 GWh and those of SK On and Samsung SDI batteries increased 61.1 percent and 68.5 percent, respectively. The three companies came in second, fifth and sixth, respectively.
The usage of EV batteries supplied by Chinese manufacturers increased more to cause the decline in market share. Last year’s top 10 include six Chinese companies and their market share rose from 48.2 percent to 60.4 percent. CATL’s rose from 33 percent to 37 percent with the usage of its batteries almost doubling from 99 GWh to 191.6 GWh. The usage of BYD batteries increased 167.1 percent to 70.4 GWh and its market share rose from 8.7 percent to slightly less than 13.6 percent.
CALB, Gotion, Sunwoda and Farasis came in seventh to tenth, respectively. The usages of their batteries almost doubled or tripled last year.