CATL retained its global battery storage market leadership for electric vehicles sold between January and August 2022. LG Energy Solution stayed in second spot, with SK On and Samsung SDI in fifth and sixth place, respectively.
As orginally reported by EVMarketReports.com, CATL and BYD dominated market growth among Chinese manufacturers in the global top 10. Meanwhile, Japanese manufacturers, including Panasonic, continued to fall with the bulk of them having lower-than-average growth rates.
Global EV battery use in August alone 2022 was 45.7GWh, according to the report, nearly twice as much as the same period last year. With important markets like China and the United States on the rise, battery consumption in the Chinese market increased more than 2.3 times compared to August 2021, confirming China’s leading position in the global EV sector.
In terms of forecasted battery supply and demand, China is unlikely to experience a supply issue until 2030. Despite promises to expand manufacturing lines, battery supply in Europe and North America is expected to be limited. The amount of energy stored in batteries for electric automobiles reported globally between January and August of 2022 was 287.6GWh, marking a 78.7% increase year over year.