The Top 10 EV Battery Manufacturers, Ranked (2021)

Largest Battery Manufacturer: CATL

In recent years, the EV battery industry is growing rapidly by virtue of the rapid development of electric vehicles. As the power source of electric vehicles, the battery performance is not only related to the vehicle mileage but also related to the vehicle's safety and reliability. It can be said that the development of battery technology determines the future of pure electric vehicles. Elon Musk, Tesla CEO once said: "in the future, batteries are as important to transportation as oil is today."

As of 2021, almost all-electric vehicle batteries are manufactured by Asian companies, and many are from Chinese battery manufacturers.

In accordance with the data of SNE Research, in 2021, the world's top three battery manufacturers are CATL, LG Energy Solution, and Panasonic, which together account for 70% of the global battery manufacturing market.

The China CATL is currently the world's largest battery manufacturer, with a market share of 32.5%. CATL ranked first in the world for five consecutive years from 2017 to 2021, LG Energy Solution ranked second, with a market share of 21.5%, and Panasonic ranked third, with a market share of 14.7%.

The following are the world's top ten EV battery manufacturers (based on market share in 2021):

The Top 10 EV Battery Manufacturers (2021 Ranking List)
Rank	2022	Company	Country
#1	32.5%	CATL	China
#2	21.5%	LG Energy Solution	Korea
#3	14.7%	Panasonic	Japan
#4	6.9%	BYD	China
#5	5.4%	Samsung SDI	Korea
#6	5.1%	SK Innovation	Korea
#7	2.7%	CALB	China
#8	2.0%	AESC	Japan
#9	2.0%	Guoxuan	China
#10	1.3%	PEVE	Japan
n/a	6.1%	Other

Source: SNE Research

Although China's EV battery manufacturers achieved the most outstanding performance in the global market, 2022 is a new beginning, major battery manufacturers around the world are accelerating the expansion of their overseas business, and problems such as shortage of semiconductor supply still exist at the same time. In the new year, we are very concerned about whether Chinese enterprises can continue to perform well in the face of various difficulties and competitions.

Finally, under the condition that national governments announced an accelerated ban on the sale of new internal combustion engines, future EV battery manufacturers may encounter more opportunities and challenges.