In 2022, about 60% of lithium, 30% of cobalt and 10% of nickel demand was for EV batteries. Just five years earlier, in 2017, these shares were around 15%, 10% and 2%, respectively.
Among the top 10 companies by installed capacity during this period, six are Chinese battery manufacturers: CATL, BYD, CALB, EVE Energy, Gotion High-Tech, and Sunwoda. The remaining three are South Korean companies and one is Japanese.
From the perspective of countries, the market share of battery companies in the top 10 from January to July is 65.3% for China, 21.4% for South Korea, and 4.3% for Japan. This represents a 0.4% increase for China, a 0.8% decrease for South Korea, and a 0.1% decrease for Japan compared to January to June.
The remaining three are South Korean companies and one is Japanese. From the perspective of countries, the market share of battery companies in the top 10 from January to July is 65.3% for China, 21.4% for South Korea, and 4.3% for Japan.
Production in Europe and the United States reached 110 GWh and 70 GWh of EV batteries in 2023, and 2.5 million and 1.2 million EVs, respectively. In Europe, the largest battery producers are Poland, which accounted for about 60% of all EV batteries produced in the region in 2023, and Hungary (almost 30%).
IEA. Licence: CC BY 4.0 In 2022, lithium nickel manganese cobalt oxide (NMC) remained the dominant battery chemistry with a market share of 60%, followed by lithium iron phosphate (LFP) with a share of just under 30%, and nickel cobalt aluminium oxide (NCA) with a share of about 8%.
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