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February 11, 2019

Global EV battery market expands by almost half in 2018

The global market for electric vehicle (EV) batteries expanded by almost 47% to 7.38 gigawatt-hours (GWh) last year from 5.03 in 2017, according to a study carried out by South Korean consulting firm SNE Research.

By bcusack

The global market for electric vehicle (EV) batteries expanded by almost 47% to 7.38 gigawatt-hours (GWh) last year from 5.03 in 2017, according to a study carried out by South Korean consulting firm SNE Research.

The company found that South Korean manufacturers lost significant global market share in 2018 with LG Chem and Samsung SDI outperformed significantly by Chinese and Japanese manufacturers.

The largest global supplier, China's Contemporary Amperex Technology (CATL), saw its sales rise by over 97% last year, lifting its global market share to almost 22% from just over 18% in 2017 thanks mainly to strong domestic demand growth.

Japan's Panasonic saw volumes more than double thanks to strong growth at Tesla, lifting its global market share to over 21% according to SNE's research.

China's BYD , which is also a significant manufacturer of electric vehicles, saw battery sales rise by over 80% to claim third place and a 12% global market share.

LG Chem remained the fourth largest single manufacturer with a global market share of 7.6%, down from 8.5% in 2017, while Samsung SDI saw its sales grow by just 28%. It still ranked eighth with a global market share of 3.1%. 

A relative newcomer to the sector, South Korea's SK Innovation, ranked 16th last year.

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