China and South Korea will account for the highest proportion of the global power battery market in 2030

　　SNE Research, a South Korean energy market research institution, recently released a forecast that by 2030, Chinese and South Korean companies will still dominate the global power battery market, with their market shares reaching 63% and 20% respectively
.
The agency said that the production capacity of global manufacturers of lithium-ion batteries for electric vehicles will increase nearly eightfold to 8,247GWh by 2030 from 994GWh in 2021
.
The average annual growth rate is expected to reach 27%
.

　　The agency also expects that Chinese companies such as CATL and BYD will have a 63% share of the global power battery market, while Korean companies such as LG Energy Solutions, SK On and Samsung SDI will have a 20% share
.
In terms of enterprise production capacity, CATL will rank first with 1,285GWh, and South Korea's LG Energy Solutions will rank second with 778GWh
.
The agency also said that within 10 years, more power battery manufacturers will enter the electric vehicle market
.
However, the top manufacturers in China, Japan and South Korea have rich experience in mass production, which will put a lot of pressure on the production and operation of manufacturers in other regions
.