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K-trio’s Market Shares Recording 25.2% in Global[1] EV Battery Usage[2]
From Jan to September in 2022


- LG Energy Solution maintained the 2nd place in a high-growth market
mainly led by the Chinese battery makers

In the ranking of battery installation for global electric vehicles (BEV, PHEV, HEV) sold from January to September in 2022, CATL and LG Energy Solution maintained the 1st and 2nd positions, while SK-On kept the 5th place with the highest growth among the K-trio.

From January to September in 2022, the amount of energy held by batteries for electric vehicles registered worldwide was 341.3GWh, a 75.2% YoY increase. Since the 3rd quarter of 2020, the electric vehicle market has been in an upward trend.

Several Chinese battery manufacturers, with CATL and BYD at the forefront, led the market growth, and those Chinese makers in the global top 10 including CALB have all boasted a triple-digit, high growth.

On the other hand, the Japanese makers including Panasonic remained in the downward trend, with most of them showing below-average growth rates.


 (Source: Global EVs and Battery Monthly Tracker – October 2022, SNE Research)

The market shares of three K-battery makers have declined by 7.3%p from 32.5% to 25.2% compared to the same period of last year, but they are still in the trend of steady growth. LG Energy Solution remained 2nd on the rank with 48.1GWh, a 14.1% increase from the same period of last year. SK-On recorded 21.2GWh, a 92.0% increase, and Samsung SDI exhibited 16.6GWh, a 65.1% increase.

The major driver behind the K-trio’s growth was sales of electric vehicle models equipped with batteries of each company. With continued sales of Hyundai Ionic 5 and KIA EV6 as well as the launch of Ionic 6, SK-On has further expanded its growth in the market. Samsung SDI has witnessed its growth driven by steady sales of Audi E-Tron, BMW iX, BMW i4, and FIAT 500. LG Energy Solution continued to keep a double-digit growth thanks to the high popularity of Model 3 and Model Y by Tesla as well as strong sales of Volkswagen ID.4 and Ford Mustang Mach-E.


 (Source: Global EVs and Battery Monthly Tracker – October 2022, SNE Research)


The global EV battery usage in September 2022 was 54.7GWh, more than 1.6 times greater than the same month of previous year. Amidst the upward trend in major markets such as China and the US, the growth in the Chinese region is particularly outstanding with a considerable number of Chinese makers taking the lead in the market expansion. The EV battery market has maintained the bullish trend for the past 27 months despite weakened consumer confidence during the COVID-19 pandemic and difficulties in raw material supply and demand. The market shares of Chinese battery makers have continuously been rising.

It has been reported that, in response to Inflation Reduction Act (IRA) enacted by the US government in an effort to protect their domestic industry, battery cell makers in Korea have decided to make intensive investments in the North America and Europe to diversify their supply and demand. Once the details of Act are determined, it seems more attentions would be paid to changes in the battery supply and demand forecast and related strategies made by cell makers in Korea and around the world.




[1] The xEV sales of 80 countries are aggregated.

[2] Based on battery installation for xEV registered during the relevant period