According to the latest statistics from SNE Research, from January to July 2024, the global market’s installed capacity of power batteries for electric vehicles (including PEV, PHEV, and HEV) was approximately 434.4 GWh, a year-on-year increase (YoY increase) of 22.4%. Among the top 10 companies by installed capacity during this period, six are Chinese battery manufacturers: CATL, BYD, CALB, EVE Energy, Gotion High-Tech, and Sunwoda. The remaining three are South Korean companies and one is Japanese.
From the perspective of countries, the market share of battery companies in the top 10 from January to July is 65.3% for China, 21.4% for South Korea, and 4.3% for Japan. This represents a 0.4% increase for China, a 0.8% decrease for South Korea, and a 0.1% decrease for Japan compared to January to June.
The top three companies with the fastest YoY growth are Sunwoda, EVE Energy, and CATL, with growth rates of 64.1%, 44.1%, and 29.9%, respectively. Meanwhile, CALB, BYD, and Gotion High-Tech have also shown strong growth.
From the perspective of companies, Chinese companies stand out. From January to July, CATL continued to lead with an installed capacity of 163.3 GWh, a YoY increase of 29.9%, and a market share of 37.6%. It is the first company this year to exceed 150 GWh in installed capacity globally.
BYD ranks 2nd with an installed capacity of 69.9 GWh, marking a YoY increase of 23.4%, as well as a market share that rose from 15.8% in January to June to 16.1%, further widening the gap with LG Energy Solution.
CALB ranks 5th with an installed capacity of 20.4 GWh, representing a YoY increase of 26.9%, and a market share of 4.7%. Compared to January to June, CALB is gradually narrowing the gap with SK On. And now CALB is only 0.1 GWh behind, with a growth rate nearly six times that of SK On. If this high growth rate continues, it is expected to surpass SK On in installed capacity by August.
Among South Korean and Japanese battery companies, Samsung SDI and Panasonic have similar installed capacities, both around 18.8 GWh. The difference between them is less than 0.1 GWh, making the competition even much more intense.
In summary, among the top 10 companies in the global market, Chinese battery manufacturers account for approximately two-thirds of the installed capacity. Additionally, the completion and production of several overseas battery bases by leading Chinese power battery companies will significantly enhance their localization supply capabilities in international markets. It is expected that the global installed capacity of Chinese battery companies will continue to increase steadily.
Source: WeChat Official Account—CBEA电池中国
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