July global power battery list: 6 Chinese companies accounted for 65% of the market, CATL dropped by nearly 3%

Due to the decline in sales of new energy vehicles in China, global power battery installed capacity also declined in July.

According to data from South Korean market research institution SNE Research, in July 2023, the global installed capacity of power batteries was approximately 57.7GWh, a month-on-month decrease of 12.4% and a year-on-year increase of 43.2%. From January to July, the global installed capacity of power batteries was approximately 362.9GWh, a year-on-year increase of 49.2%.

CATL's installed capacity in July was 20.9GWh. Although it dropped 18.4% month-on-month, it was still far ahead and ranked first. Compared with June, the biggest change in the list in July is that BYD once again surpassed LG Energy to win the runner-up, while China New Aviation surpassed SK On to become the top five in the global power battery list.

In July, there were still 6 Chinese companies on the list of the top 10 global power batteries, with a market share of 64.8%, an increase of 3 percentage points year-on-year.

In terms of month-on-month growth, China Innovation Airlines, Guoxuan Hi-Tech and Sunwoda all achieved month-on-month increases. Among them, China Innovation Airlines had the largest month-on-month increase of 21.4%. The remaining seven companies all experienced varying degrees of decline. Among them , LG Energy suffered the largest month-on-month decline of 29.7% due to the decline in Tesla sales.

In terms of month-on-month market share, the market shares of CATL, LG Energy, Samsung SDI and Everview Lithium Energy all experienced month-on-month declines. Due to the decline in sales of most domestic car companies, CATL fell by 2.53% month-on-month. BYD, China Xinhua Airlines, Guoxuan Hi-Tech, Sunwanda and others all saw an increase in their market share, with BYD increasing by 1.8 percentage points and China Xinhua Airlines increasing by 1.5 percentage points.

In terms of year-on-year growth, among the 10 companies, only Guoxuan Hi-Tech experienced a year-on-year decrease. Nine companies including Yiwei Lithium Energy, Sino-Sino Aviation, BYD, CATL, and LG Energy all achieved varying degrees of growth. Among them, Yiwei Lithium Energy has more than doubled year-on-year, ranking ninth on the list.

In terms of year-on-year market share, LG Energy’s market share increased the most to 1.81%, followed by Sino-News Aviation with 1.54% and CATL with 1.21%. In addition to LG New Energy, Japanese and Korean companies, Panasonic, SK On, and SDI all saw a decline in market share, and Chinese companies Guoxuan Hi-Tech and Sunwoda both experienced declines.

From January to July, CATL grew by 54.4% year-on-year. It is the only global battery supplier to occupy more than 35% of the market share, firmly ranking first in the world. It is worth mentioning that CATL has begun to enter overseas markets, with sales nearly tripling in Europe and North America year-on-year. CATL's batteries are installed in Tesla Model 3/Y, MG ZS, MG-4, Aion Y, NIO ET5 and other major models in China's domestic market, and continue to maintain high growth momentum.

Through self-sufficiency, BYD has gained high popularity in China's domestic market with its price competitiveness. In the first seven months of this year, it achieved a year-on-year growth of over 90%. Recently, the company has expanded its market share, focusing on the Atto 3 (Yuan plus), the main model in Asia and Europe outside of China.

Samsung SDI achieved a year-on-year growth of 31.6%, which benefited from the continued growth in sales of Rivian R1T/S, BMW i4/7/X, and Audi E-Tron . Due to strong sales of Hyundai IONIQ  5, Kia EV6, and Mercedes-Benz EQA /B, SK on grew by 16.6% year-on-year. For LG Energy, sales of global best-selling models such as Tesla Model 3/Y, Volkswagen ID.3 /4, and Ford Mustang Mach-E continued to improve, recording the highest growth rate among the three domestic companies (a year-on-year increase of 53%). Overseas sales of Hyundai IONIQ6 and Kona (SX2) equipped with LG Energy are expected to expand, and LG Energy's growth momentum is expected to continue in the future.

Panasonic is the only Japanese company to enter the top 10, with installed capacity of 26.6GWh from January to July, a year-on-year increase of 38.5%. It is worth mentioning that the strong growth in sales of Tesla Model Y has driven Panasonic’s growth momentum. With the launch of the new Tesla Model 3, Panasonic's market share is expected to further increase.

Written at the end: July is the off-season for sales in the Chinese automobile market. As the Chinese automobile market picks up in August, the global installed capacity of power batteries will also increase. It is foreseeable that CATL’s market share is expected to increase again in August, and no one can challenge the championship. BYD and LG Energy will compete for the runner-up position. The bottom three on the list will be Chinese companies Guoxuan Hi-Tech and Yiwei Lithium Energy. Compete with Xinwanda.