Korea-China-Japan Battery Competition Intensifies... CATL Leads Market Share in April

CATL and Other Chinese Firms Leap... Panasonic Records Lowest Growth Rate
LG Energy Solution Chases, Samsung SDI and SK Innovation Maintain Top Ranks

[Asia Economy Reporter Hwang Yoon-joo] The competition among South Korea, China, and Japan for market share in the electric vehicle (EV) battery sector is intensifying. In the rankings of global EV (EV, PHEV, HEV) battery usage for April and January-April this year, China's CATL led in all categories, with LG Energy Solution and Japan's Panasonic ranking second and third respectively. Overall, Chinese companies continued their upward trend, while Samsung SDI and SK Innovation ranked fifth and sixth, maintaining all three Korean companies within the top 10.

According to SNE Research on the 1st, in April 2021, the global EV battery market share was led by China's CATL with 35.2%. This was followed by LG Energy Solution (23.9%), Japan's Panasonic (9.5%), China's BYD (7.3%), Samsung SDI (4.9%), and SK Innovation (4.8%).

The global battery usage in April reached 17.5 GWh, more than tripling compared to the same month last year. CATL increased by 213.5% year-on-year to 6.2 GWh. LG Energy Solution remained in second place with 4.2 GWh but showed the highest growth rate of 355.5%. Panasonic held third place with 1.7 GWh, showing a growth rate of 76.1%, the only double-digit growth rate among the top 10 companies. BYD recorded 1.3 GWh (up 125.7%), Samsung SDI 0.9 GWh (up 226.4%), and SK Innovation 0.8 GWh (up 246.7%).

Based on cumulative data from January to April, market share was led by China's CATL (32.5%), LG Energy Solution (21.5%), Panasonic (14.7%), BYD (6.9%), Samsung SDI (5.4%), and SK Innovation (5.1%).

The cumulative global battery usage reached 65.9 GWh, more than 2.4 times the amount from the same period last year. The expansion of the Chinese market led overall market growth, with multiple Chinese companies including top-ranked CATL and fourth-ranked BYD driving the growth. Notably, CATL's battery usage surged by 285.9% year-on-year to 21.4 GWh, rising from third place last year to first place this year.

On the other hand, Japanese companies including third-ranked Panasonic showed growth rates below the market average, with double-digit or lower increases, resulting in a decline in market share. The three Korean companies also recorded growth rates below the market average, causing a slight decrease in their market shares. LG Energy Solution increased by more than 2.3 times to 14.2 GWh, maintaining its second place as in the previous year. Samsung SDI increased by 87.8% to 3.5 GWh, dropping one rank to fifth compared to the previous year. SK Innovation grew by 138.9%, maintaining its sixth place ranking.

The growth of the three companies was driven by increased sales of models equipped with their batteries. LG Energy Solution's growth was mainly supported by strong sales of Tesla Model Y (China-made), Volkswagen ID.3, and ID.4. Samsung SDI's usage increased thanks to higher sales of the Audi E-tron EV and Fiat 500. SK Innovation's growth factors included increased sales of the Kia Niro EV and Hyundai Kona EV (Europe).

This content was produced with the assistance of AI translation services.