On December 5, SNE Research released the latest data about the global power battery installation. The data shows that from January to October 2024, the global power battery installation reached approximately 686.7 GWh, marking a year-on-year increase of 25%.
In terms of market share, Chinese battery companies, represented by CATL and BYD, have seen rapid growth in installations overseas, squeezing the market share of Japanese and South Korean companies.
Among Chinese companies, CATL still maintains top position in the world with an installation of 252.8 GWh, marking a year-on-year growth of 28.3% and a market share of 36.8%. BYD ranks second with 115.3 GWh, up 31.3% year-on-year. And BYD holds a market share of 16.8%, with an increase of two percentage points from last year.
Following them, other Chinese companies such as CALB, Gotion High Tech, EVE Energy, and Sunwoda respectively achieved installations of 33.1 GWh, 17.7 GWh, 16.3 GWh, and 14.3 GWh, with year-on-year growth rates of 25.4%, 38.3%, 31.5%, and 68.2%.
Currently, CATL mainly supplies batteries for Tesla’s Model 3 and Model Y, as well as for Mercedes-Benz and Volvo. With BMW’s large-scale orders being fulfilled, CATL’s overseas installations are expected to continue increasing.
Among the Japanese and South Korean battery companies, LG Energy Solution ranks the highest, with an installation of 81.2 GWh, securing third place and a market share of 11.8%. SK On ranks fifth with 31.1 GWh, holding 4.5% of the market, while Panasonic ranks sixth with 28.4 GWh and a market share of 4.1%. Samsung SDI is ranked seventh, with 26.2 GWh and a market share of 3.8%.
The total installation volume of the four Japanese and South Korean companies is 166.9 GWh, accounting for a market share of 24.2%.
Japanese and South Korean battery companies have long relied on the European and American markets. With the production of LFP batteries and the rollout of the 4680 battery, these companies are expected to regain a certain market share in Europe and the United States.
Source: WeChat Official Account—电池工业网
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