Global EV battery market expands to 116 GWh as battery manufacturers report significant growth last year
Despite adverse business and economic conditions and other challenges created by the COVID-19 pandemic in 2020, the worldwide xEV battery market (BEVs, PHEVs, and HEVs) grew noticeably, SNE Research said.
According to fresh stats released by SNE Research for the January to November period of last year, the global xEV battery market increased by more than 15 per cent year-over-year to 116.5 GWh. Inclusion of December data, which is currently not available, the figure should expand further.
The SNE Research report also shed light on which battery manufacturers which continued to grow their production and sales despite adverse business conditions last year, and which kept struggling.
In November 2020, China’s Contemporary Amperex Technology Co. (CALT), Korean chemical company LG Chem's LG Energy Solution and Osaka-based Panasonic emerged as the largest lithium-ion battery suppliers for xEVs. Their total market grew to 17.5 GWh, up 55 per cent from the corresponding period of last year.
CATL alone accounted for 4.9 GWh, while LG Energy Solution and Panasonic’s shares were reported at 3.7 GWh and 2.5 GWh, respectively. CATL and LG Energy Solution’s share grew 40 per cent and 252 per cent year-over-year, but Panasonic’s share declined 1.3 per cent.
BYD, SK Innovation, Samsung SDI, FinDreams (BYD's sub-brand), CALB, Envision AESC, Guoxuan accounted for 0.9 GWh, 0.8 GWh, 0.8 GWh, 0.6 GWh, 0.5 GWh, 0.4 GWh, and 0.4 GWh, respectively. All of these EV battery manufacturers enjoyed growth in their respective market shares but some of these companies enjoyed unprecedented growth rates.
BYD, SK Innovation and Samsung SDI, for instance, saw their respective shares of xEV battery market going up by 112 per cent, 371 per cent, and 72 per cent, respectively. On the other hand, some companies like Envision AESC were found to be on the down side.
CATL emerged as the dominant player in China. Outside China, CALT was the fifth largest player; with 4.1 GWh. The first spot was grabbed by Panasonic (21.5 GWh), followed by LG Chem (20.3 GWh).
Samsung SDI and SK Innovation have no or little presence in the Chinese NEVs market. Nevertheless, these battery suppliers noted a strong growth rate during the first 11 months of last year. CATL is now in the lead, ahead of long-time dominant player LG Chem.
United Kingdom News
- Tesla voids warranty if EV’s battery pack is used to power home
- France reportedly looking to relax geographical restrictions to allow smaller cities to host casinos
- BMW aims to swing back to pre-pandemic operating margin of 8-10%
- Scania reveals plans to launch full-size 40-ton capacity long-range electric truck
- Tesla’s all-electric Model Y earns 5-star score in NHTSA crash tests