The global xEV (BEVs, PHEVs, HEVs) battery market more than doubled in 2021, but not all of the top battery manufacturers enjoyed such high growth.
According to SNE Research, the total battery capacity installed in all xEVs (passenger and commercial vehicles) registered in 2021 amounted to 296.8 GWh, which is 102.3% more than in 2020. That's a little bit more than in the case of the Adamas Intelligence's report (286.2 GWh), which however excluded commercial vehicles (probably around 20 GWh or so).
An interesting thing is that, in December alone, the deployment is estimated at 43.7 GWh (up 53.2%).
In terms of manufacturers, nearly a third (32.6%) of all batteries were supplied by CATL, which also enjoyed one of the highest growth rates of almost 168% year-over-year, to 96.7 GWh. The Chinese manufacturer has a dominant position in China, where also the xEV market quickly expands.
The second biggest player is LG Chem's LG Energy Solution with 60.2 GWh (up 75.5%) and 20.3% share. Those two companies supplied more than half of all xEV batteries in 2021.
Panasonic, with a growth rate of just 33.5% (far below industry average), is now far behind the two leaders, with 36.1 GWh deployed and 12.2% share (compared to 18.4% in 2020).
If the Japanese company will not improve significantly, pretty soon it will be overtaken by BYD, which increased nearly 168% year-over-year to 26.3 GWh and is now gearing up to double the result in 2022.
The next two are SK Innovation's SK On and Samsung SDI, ahead of CALB, Guoxuan, Envision AESC and SVOLT. SVOLT is quite interesting, because it expanded more than 5 times to 3.1 GWh, with a very ambitious expansion plan (200 GWh by 2025).
Global xEV Battery Shipment - January-December 2021
- CATL - 96.7 GWh (up 167.5%) and 32.6% share
- LG Chem's LG Energy Solution - 60.2 GWh (up 75.5%) and 20.3% share
- Panasonic - 36.1 GWh (up 33.5%) and 12.2% share
- BYD - 26.3 GWh (up 167.7%) and 8.8% share
- SK Innovation - 16.7 GWh (up 107.5%) and 5.6% share
- Samsung SDI - 13.2 GWh (up 56.0%) and 4.5% share
- CALB - 7.9 GWh (up 130.5%) and 2.7% share
- Guoxuan - 6.4 GWh (up 161.3%) and 2.1% share
- Envision AESC - 4.2 GWh (up 7.8%) and 1.4% share
- SVOLT - 3.1 GWh (up 430.8%) and 1.0% share
other - 26.0 GWh (up 107.1%) and 8.8% share
Total - 296.8 GWh (up 102.3%)