Europe, Americas take bigger slice of global battery market in August
Asia Pacific’s share of battery capacity deployed down to 59%
In August 2023, 63.7 GWh of battery capacity were deployed onto roads globally in all newly sold passenger EVs combined, up 15% month-over-month and 53% over the same month the year prior, according to the Adamas EV Battery Capacity Monthly intelligence service.
Asia Pacific led the pack with a 59% share of all battery capacity deployed globally in August 2023, down from 66% the year prior as all other regions captured market share.
Conversely, Europe captured 22% of the market in August 2023, up from 18% the same month the year prior. In absolute terms, Europe’s deployment surged 95% year-on-year in August 2023 compared to just 38% growth in the Asia Pacific region over the same period.
In the Americas, where the US and Canada represent a combined 97% of the market, battery capacity deployment rose 61% year-on-year in August 2023, lifting the region’s share of the market to 17% from 16% the same month the year prior – a small but symbolic gain in market share from Asia Pacific.
The Middle East and Africa collectively captured just over 1% of the market in August 2023 despite seeing a 256% increase in GWh deployed compared to August 2022.
The strong increase in global battery capacity deployment compared to last year came not only on the back of a surge in total EV registrations, but was also driven higher by a rise in the average EV’s battery pack capacity (in kWh) over the same period.
From August 2022 to August 2023, the global sales-weighted average (SWA) pack capacity increased by 9% overall, from 35.2 kWh to 38.6 kWh, Adamas data shows. The includes full battery electric vehicles (BEVs) plus plug-in and conventional hybrids (PHEVs and HEVs).
Battery capacity deployment outperforming EV sales growth is a boon for battery metal and cell suppliers. Notably, BEVs’ share of the battery market (by GWh deployed) fell to 87% in August 2023 from 90% the the same month the year prior as PHEVs with beefed up battery packs continue to grow in popularity, particularly in the Asia Pacific region.
EV, Battery and Battery Materials Market Intelligence:
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.
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.
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