In 2022, a Massive 488.3 GWh Deployed Onto Roads Globally in New Passenger EVs
CATL, LG Energy Solution and BYD collectively captured 65% of the global EV market
Last year, a massive 488.3 GWh of battery capacity was deployed onto roads globally in newly sold passenger EVs (HEVs, PHEVs, BEVs), 70.2% more than the year prior despite ongoing supply chain struggles and economic headwinds in all major EV markets.
CATL led the pack by a longshot with 156.1 GWh deployed onto roads globally, followed at a distance by LG Energy Solution with 89.9 GWh deployed and BYD with 69.9 GWh deployed.
Collectively, the top three by capacity deployed were responsible for 65% of all GWh put onto roads last year, the top five were responsible for 79% and the top 10 were responsible for 94%.
Battery and battery metals demand growth to continue outpacing EV sales growth
The surge in battery capacity deployment in 2022 was driven by a 39.5% rise in passenger EV sales coupled with a 22.0% rise in the sales-weighted-average EV’s battery pack capacity, from 27.8 kWh in 2021 to 33.9 kWh last year.
With BEV and PHEV sales growth continually outpacing that of HEVs, which have inherently smaller batteries, we expect demand for EV batteries (in GWh terms) and the metals and materials in them to continue rising disproportionally faster than EV unit sales.
Note: The above figure considers battery capacity (GWh) deployed onto roads in newly sold passenger EVs (HEVs, PHEVs, BEVs) globally.
It does not consider working inventories of cells, packs and vehicles on assembly lines, at dealerships, or in transit. It also does not consider battery capacity installed or deployed in commercial vehicles (e.g., passenger busses), special purpose vehicles (e.g., garbage trucks), low speed electric vehicles, or electric bikes, scooters, mopeds, motorcycles, quadricycles, boats, aircraft or all terrain vehicles.
EV, Battery and Battery Materials Market Intelligence:
EV Battery Capacity and Battery Metals Tracker
Building on ongoing EV registrations in over 110 countries, our web-based platform helps users track monthly deployment of battery metals and materials, battery capacity, and the ever-evolving competitive landscapes of battery chemistries and cell suppliers.
EV Battery Capacity Monthly
The ‘EV Battery Capacity Monthly’ is a subscription-based report for tracking monthly deployment of passenger EV battery capacity by EV type, region, country, make, model, cell supplier and cell chemistry on an ongoing basis.
Rare Earth Market Intelligence:
Rare Earth Magnet Market Outlook to 2035
In this report, we provide a detailed overview of the global NdFeB alloy, powder, magnet and magnet rare earth oxide markets, including a breakdown of historical production, consumption and prices from 2015 through 2021. Next, we unravel the anticipated near-term impacts of the pandemic recovery on world markets and forecast global supply, demand and prices from 2022 through 2035.
Rare Earth Pricing Quarterly Outlook
The ‘Rare Earth Pricing Quarterly Outlook’ subscription-based report looks back on the rare earth market’s performance over the trailing three months and details Adamas Intelligence’s latest near-term and long-term rare earth oxide (“REO”) price forecasts to 2035.
Rare Earth Minerals Monthly
The ‘Rare Earth Minerals Monthly’ is a subscription-based report and data service for tracking global rare earth minerals trade, mineral concentrate prices, rare earth oxide prices, payability ratios, and other key developments on the supply- and demand-side of the market month-after-month.
EV Motor Materials Monthly
The ‘EV Motor Materials Monthly’ is a subscription-based report and data service for tracking motor demand, NdFeB magnet demand, and other key developments in the global EV traction motor market month-after-month, as they happen; by region, country, motor type, EV type, EV make, EV model and motor supplier, plus the latest developments in rare earth and NdFeB alloy prices.
EV Motor Power and Motor Materials Tracker
Building on ongoing EV registrations in over 110 countries, our web-based platform helps users track monthly deployment of motor metals and materials, motor units, motor power, and the ever-evolving competitive landscapes of motor types and motor suppliers.
Back to overview