SNE Research: Six Chinese companies along with Korean and Japanese manufacturers continue to lead the global battery market

By Li Panpan

Topped by CATL and BYD, six Chinese companies have joined the top 10 ranking of global battery manufacturers with high triple-digit growth from January to September 2022, according to international research company SNE Research.

SNE's report shows that the total installed capacity of power batteries worldwide was 341.3GWh, a year-on-year increase of 75.2% from January to September 2022

In the top 10 list, CATL and LG New Energy ranked 1stand 2nd, followed by BYD. The other four Chinese manufacturers are CALB(中创新航, 7th), Guoxuan(国轩高科, 8th), Sunwoda(欣旺达, 9th), SVOLT(蜂巢能源, 10th).

The share of three Korean companies, LG New Energy, SK-On (5th), and Samsung SDI (6th), dropped from 32.5% in the same period last year to 25.2%, with SK-On having the highest growth momentum among them.

The global installed capacity of power batteries in September alone is 54.7GWh, 1.6 times that of the same period last year. China was at a prominent growth rate, and many Chinese companies have driven the growth of the global market, said the report.

With a shrinking consumer market and tight supply and demand of raw materials, there is a growing trend of steady growth centering on China with more market shares, said the report.