SNE Research: Global xEV Battery Market More Than Tripled In May 2021

Year-to-date deployment exceeded 81 GWh, out of which more than half comes from CATL and LG.

CATL battery in an electric car

Mark Kane

By: Mark Kane

Jul 27, 2021 at 8:45am ET

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The global xEV (BEVs, PHEVs, HEVs) battery market is quickly expanding this year, reaching new record levels.

According to the data provided by SNE Research, the total battery capacity installed in xEVs registered in May amounted to 19.7 GWh, which is 233% more than a year ago.

SNE Research reports only battery capacity deployed in new passenger cars (buses and trucks are excluded).

LG Chem's LG Energy Solution noted an especially strong month with 5.7 GWh (up 270% year-over-year) and almost 29% market share, noticeably ahead of its main Chinese rival - CATL, which was second with 4.8 GWh (up 259%) and 24.5% market share.

Panasonic is now significantly behind the two with 3.3 GWh in May (up 207%) and 16.9% market share. The highest rate of growth in the top 10 was noted by BYD - 332% to 1.4 GWh.

Global EV Battery Shipment - May 2021:

LG Chem's LG Energy Solution - 5.7 GWh (up 270%) with 28.7% share
CATL - 4.8 GWh (up 259%) with 24.5% share
Panasonic - 3.3 GWh (up 207%) with 16.9% share
BYD - 1.4 GWh (up 332%)
Samsung SDI - 1.0 GWh (up 167%)
SK Innovation - 0.9 GWh (up 216%)
CALB - 0.7 GWh (up 237%)
Envision AESC - 0.3 GWh (up 75%)
Guoxuan - 0.3 GWh (up 234%)
PEVE - 0.2 GWh (up 75%)
other - 1.0 GWh (up 166%)
Total - 19.7 GWh (up 233%)

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Global EV Battery Shipment - January-May 2021:

If we take a look at the year-to-date numbers, it turns out that CATL (22.1 GWh) maintained its first place, but it's only 0.4 GWh ahead of LG Energy Solution (2.7 GWh). The combined market share of those two manufacturers is 53.7%, which means that every second xEV on the planet is equipped with CATL or LGES batteries.

CATL clearly benefits from very high sales in China (including LFP deal with Tesla) and several global contracts, while LG Energy Solution got a boost from the deal with Tesla in China and massive expansion globally.

Panasonic, with 13 GWh, is not only behind the leaders, but its growth rate is below 74%, which is a worrying sign.

CATL - 22.1 GWh (up 300%) with 27.1% share
LG Chem's LG Energy Solution - 21.7 GWh (up 184%) with 26.6% share
Panasonic - 13.0 GWh (up 74%) with 16.0% share
BYD - 5.5 GWh (up 235%)
Samsung SDI - 4.6 GWh (up 106%)
SK Innovation - 3.8 GWh (up 154%)
CALB - 2.5 GWh (up 418%)
Envision AESC - 1.6 GWh (up 11%)
Guoxuan - 1.4 GWh (up 336%)
PEVE - 1.0 GWh (up 43%)
other - 4.3 GWh (up 235%)
Total - 81.6 GWh (up 169%)

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What do you think?

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Comments

Anyway, with a total passenger xEV capacity of 81.6 GWh (up 169% year-over-year), the market continues its rapid expansion.

All that we see now is still just the beginning of a market, which in several years will be above 100 GWh a month.