According to data released by South Korean SNE Research recently, in the first quarter of 2023, CATL (300750) ranked first with a global market share of 35% for power batteries, BYD (002594) ranked second with a global market share of 16.2%, and Chinese battery manufacturers had a global market share of over 50% for power batteries.
Industry experts say that new energy vehicle sales bottomed out in the first quarter , but for the second quarter,With the decline in raw material prices and a rebound in demand, power batteries are expected to enter the peak season.
The market share keep increasing
According to SNE Research data, in the first quarter of this year, the total number of newly registered electric vehicle battery installations worldwide increased by 38.6% year-on-year, to 133 GWh. According to data released by the China Automobile Association, from January to March, the cumulative installed capacity of power batteries in China was 65.9 GWh, a year-on-year increase of 28.4%.
In the first quarter,CATL ranked first in the global power battery installation volume with a global market share of 35%; BYD ranks second with a global market share of 16.2%. Data shows that in the first quarter of this year, the loading volume of CATL and BYD increased by 35.9% and 115.5% year-on-year, respectively, reaching 46.6GWh and 21.5GWh.
In recent years, the global market share of Chinese power battery companies has been continuously increasing, while as an established battery manufacturer, the global market share of South Korean power battery giants LG , SK , and Samsung SDI has shown an overall downward trend.
In 2022, LG New Energy, SK , and Samsung SDI jointly accounted for 23.7% of the global electric vehicle battery market, a decrease of 6.5 percentage points compared to 2021. On the other hand, as the largest power battery manufacturer in China, CATL achieved a global market share of 37% in 2022, an increase of 4 percentage points from 33% in 2021. Together with six other top ten Chinese power battery manufacturers, its global market share reached 60.4%, a significant increase from 48.2% in 2021.
CITIC Securities Research Report pointed out that looking forward to 2023, battery manufacturers remain optimistic about revenue and profit margin growth, and are optimistic about the growth of the global power battery market and the driving force of tax subsidies on profit margins. The recently held China Automotive Power Battery Industry Innovation Alliance Conference mentioned that by 2023, the demand for power battery installation in China will reach 409.9GWh, a year-on-year increase of 39.3%.
SNE Research predicts that by 2035, global sales of electric vehicles will be approximately 80 million units, with a penetration rate expected to reach around 90%. The demand for electric vehicle secondary batteries will also increase from 687GWh in 2023 to 5.3TWh in 2035.
Strong market demand
With the rapid development of China's new energy vehicle industry, the market penetration rate has been rising, which has brought strong demand to power battery enterprises. Our CTS established in 2011, which is a manufacturer specializing in the R & D, production, sales and service of power battery packs, focusing on one-stop customized lithium battery products, such as electric vehicle batteries,electric motorcycle batteries, OEM battery pack etc...
With Twenty-people R& D team who has rich experience, CTS focuses on power battery customization for middle and high end markets by selecting first grade lithium cells with high energy density and assembling cells into packs with different shapes and sizes. All batteries are produced by following safety testing standards.
We always followed Strict quality control ensures the higher quality of products. With the concept of "customers the first, quality the life", we strictly follow ISO 9001 and TS16949 management system through the production of every detail, each battery must be strictly tested before its delivery.
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