Global Power Battery Ranking in May: CATL is the No. 1 with a Top 3, and EVE Energy is on the list again

With an installed capacity of 11.4GWh, CATL ranks first, outnumbering other solar companies by one to three. BYD and LG Energy Solution rank second with installed capacity of 4.2GWh. Panasonic, SK On and Samsung SDI rank fourth, fifth and sixth respectively.

After surpassing Samsung SDI for two consecutive months in February and March this year, Sinotruk maintained the seventh position on the list in April and May. Guoxuan High-tech and Xinwangda ranked eighth and ninth respectively. Yiwei Lithium Energy and Honeycomb Energy were in a state of competition. In May, the former surpassed the latter again and entered the top ten of the list.

According to data from South Korean market research firm SNE Research, in May, the global installed capacity of power batteries was 33.7GWh, up 24.2% from the previous month and 58.4% from the previous year. From January to May, the global installed capacity of power batteries was 157.4GWh, up 28.1% from the previous month and 77.3% from the previous year.

In May, there were still six Chinese companies among the top 10 in global power battery installation volume, with a market share of 65.6%, accounting for half of the global power battery market.

In terms of month-on-month growth rate, China Innovation Aviation achieved the largest month-on-month growth of over 70%, CATL grew over 40%, LG Energy Solution, Gotion High-tech, and Xinwangda grew over 20%, while only BYD saw a month-on-month decline.

In terms of year-on-year growth rate, Xinwangda achieved the largest year-on-year growth rate of over 600%, CATL, BYD, EVE Energy, Gotion High-tech, Sinovation, and SK On all achieved triple-digit growth, Samsung SDI achieved double-digit growth, Panasonic achieved single-digit growth, and only LG Energy Solution showed a year-on-year downward trend.

CATL's installed capacity was 11.4GWh, up 42.5% from the previous month, firmly ranking first. Driven by the sales growth of Tesla, SAIC, FAW, Geely, Changan, and NIO, CATL's market share rose 4.3 percentage points from 29.5% in April to 33.8%, up 7.9 percentage points year-on-year.

BYD's installed capacity was 4.2GWh, down 2.3% from the previous month, ranking second with LG Energy Solution. Due to the suspension of BYD's Changsha factory for rectification, BYD's sales volume declined, and its market share fell 3.4 percentage points from 15.9% in April to 12.5%, up 5.2 percentage points year-on-year.

The seventh-largest company, China New Aviation, had an installed capacity of 1.6GWh, up 77.8% from the previous month, and its market share rose by 1 percentage point to 4.7%. The main reason for the increase in China New Aviation's market share was the increase in sales of GAC Aion and Xiaopeng. After China New Aviation submitted its IPO application to the Hong Kong Stock Exchange in March this year, it has been in constant turmoil and may face more stringent inquiries and hearings from the Hong Kong Stock Exchange. As of now, China New Aviation has not passed the hearing of the Hong Kong Stock Exchange.

Guoxuan High-tech's installed capacity was 0.9GWh, up 28.6% from the previous month, ranking eighth. Its market share rose by 0.1 percentage point to 2.7%, driven by the increase in sales of Chery New Energy, Changan, Geely and other automakers.

Xinwoda and EVE Energy both had installed capacity of 0.5GWh, ranking ninth. EVE Energy once again surpassed Honeycomb Energy to enter the top 10.

Unlike Chinese automakers, which are advancing at a triumphant pace, the market share of the three Korean automakers, except for SK On, which has maintained growth, is declining, while that of LG Energy Solution and Samsung SDI. LG Energy Solution installed 4.2GWh in May, and its market share fell by 3.9 percentage points year-on-year to 12.5%, and by 0.4 percentage points month-on-month.

Panasonic, the only Japanese company on the list, had an installed capacity of 3.3GWh, up 3.1% month-on-month. Its market share fell 2 percentage points month-on-month to 9.8%, and fell 3.2 percentage points year-on-year, ranking fourth on the list.

From January to May, CATL, LG Energy Solution and BYD still ranked the top three. Compared with the same period last year, CATL's growth more than doubled, BYD's growth more than doubled, and LG Energy Solution only achieved a single-digit growth. We expect that in a month in the second half of this year, BYD will eventually surpass LG Energy Solution and take the runner-up.

It is worth noting that Gotion High-tech, which surpassed Samsung SDI in the first four months, was surpassed by Samsung SDI again in May and dropped one place to seventh.

In terms of year-on-year growth, Xinwangda achieved the largest year-on-year growth of more than seven times, CATL, BYD, Gotion High-tech, Honeycomb Energy, and Sinovation all achieved triple-digit growth, while Samsung SDI achieved double-digit growth, and LG Energy Solution achieved single-digit growth.

In terms of market share, LG Energy Solution's market share dropped the most, by more than 9 percentage points, followed by Panasonic, which dropped by nearly 5 percentage points, and Samsung SDI, which dropped by nearly 2 percentage points. In contrast, CATL and BYD's market shares both rose by more than 5 percentage points, while Sinotruk and Sunwoda both rose by more than 1 percentage point.

In general, driven by China's strong electric vehicle market, Chinese companies are leading the global power battery market. Specifically, the market share of the six Chinese companies has increased significantly, while the market share of Japanese and Korean companies has shown a downward trend month by month.

We predict that in the first half of 2022, CATL will still hold the top spot, BYD will surpass LG Energy Solution to take the second place, and Panasonic will remain in third place. The competition for the last five places on the list will be fought among Chinese companies. We will wait and see who will make the list in the end.