International research institution-SNE Research has released the latest statistics on global power batteries: In the first 11 months of 2024, the total vehicle installations of the global TOP10 power battery enterprises reached 785.6GWh, a year-on-year increase of 26.4%.
As before, a total of 6 Chinese enterprises made it to the TOP10, and their vehicle installations all exceeded the full year of 2023, namely CATL, BYD, CALB, Gotion, EVE, and Sunwoda.
SNE Research pointed out that CATL continued to maintain the global first position with a year-on-year growth rate of 28.6% (289.3GWh). In China, the world's largest electric vehicle market, major vehicle manufacturers such as ZEEKR, AITO, and Li Auto are all using CATL batteries. In addition to Chinese vehicle manufacturers, many global major vehicle manufacturers such as Tesla, BMW, Mercedes-Benz, etc. are also using CATL batteries. Volkswagen also uses CATL batteries.
BYD's year-on-year growth was 35.9% (134.4GWh), ranking second in global battery usage. BYD not only produces batteries but also electric vehicles (BEV + PHEV), and has launched a variety of electric vehicles in the market with excellent price competitiveness, winning wide popularity. In particular, BYD is expanding from the domestic Chinese market to the global market to further secure its market share.
CALB performed well, ranking fourth globally with a battery usage of 36.3GWh. Since BYD mainly focuses on self-production and self-sale, from the perspective of third-party power battery supply, CALB has actually been steadily ranking third in global power battery shipments.
The global rankings of the other three Chinese enterprises, Gotion, EVE, and Sunwoda, are eighth, ninth, and tenth respectively.
On the Korean company side, in the January - November period of 2024, the vehicle installations of LGES, SK On, and Samsung SDI all achieved growth, with a total vehicle installation volume reaching 155.6GWh, but the market share was 19.8%, a decrease of 3.5 percentage points compared to the same period last year.
Specifically, LGES continued to maintain the global third position with a vehicle installation volume of 91.4GWh, a year-on-year growth of 6.9%, and a market share of 11.6%. SK On ranked fifth with a vehicle installation volume of 35.3GWh, a year-on-year growth of 11.8%, and a market share of 4.5%. Samsung SDI ranked seventh with a vehicle installation volume of 28.9GWh, a year-on-year growth of 0.1%, and a market share of 3.7%.
On the Japanese company side, Panasonic ranked sixth with a battery vehicle installation volume of 31.2GWh, but among the TOP10 global power battery vehicle installation companies in the January - November period of 2024, Panasonic was the only one with a negative growth in vehicle installation volume, with a year-on-year decline of 20.6% and a market share of 4.0%.
SNE Research said that due to the slowdown in demand for electric vehicles and power batteries, the market shares of the three Korean companies mainly focusing on the European and American markets have further declined. In addition, although China is being curbed by the United States and Europe, based on its stable domestic market, it is transferring the excess inventory to emerging economies.
SNE Research stated, "In the short term, it is expected that the growth rate in major regions outside China will be lower than expected. Automobile and battery enterprises are expected to focus on ensuring future competitiveness through technological innovation, low-priced models, hybrid power and other diversified business strategies."