"Electric Vehicle Batteries in 2030 Likely to be Dominated by China... CATL's Production Capacity Twice That of LG"

SNE Research Global Secondary Battery Company Production Capacity Estimates

"By 2030 CATL 1285GWh · LG Energy Solution 778GWh
Gap widens from last year's 161GWh · LG 140GWh"

"3rd to 5th SVOLT · CALB · Guoxuan sweep China... SK 6th, Samsung 9th"

"Global total 994GWh in 2021 → 8247GWh in 2030"

CATL Headquarters in Ningde City, Fujian Province, China. (Photo by Reuters)

[Asia Economy Reporter Moon Chaeseok] An analysis has emerged that the production capacity gap between China’s CATL, the world’s largest electric vehicle secondary battery manufacturer, and South Korea’s LG Energy Solution will nearly double in eight years. It is expected that Chinese companies will sweep four of the top five positions.

According to market research firm SNE Research on the 13th, the production capacity of global electric vehicle and energy storage system (ESS) secondary battery manufacturers is expected to increase from 994GWh last year to 8,247GWh by 2030. The estimated average annual growth rate is 27%.

The issue is that the gap between the current No. 1 CATL and No. 2 LG Energy Solution is expected to widen sharply. Last year, CATL had 161GWh and LG Energy Solution had 140GWh, but by 2030, they are projected to reach 1,285GWh and 778GWh respectively. LG Energy Solution is expected to maintain its second place.

The production capacities ranked 3rd to 5th are SVOLT with 632GWh, CALB with 619GWh, and Guoxuan with 523GWh. SK On is expected to rank 6th with 465GWh (officially announced production capacity is 500GWh), and Samsung SDI is projected to be 9th with 374GWh.

By nationality, Chinese companies including CATL are expected to hold a 63% market share by 2030. South Korea is expected to remain in second place with 20%. European leading companies such as Sweden’s Northvolt, Norway’s Freyr, and France’s ACC are expected to begin full-scale production only from 2025 and to account for about 10% by 2030.

An SNE Research official said, "There are many secondary battery companies expected to newly enter the electric vehicle market within 10 years," adding, "Except for some companies in Korea, China, and Japan with extensive mass production experience, others are likely to face significant difficulties in mass production."

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