Total Market Overview - In the first half of 2025, global power battery installation reached 503 GWh, a year-on-year increase of 37.8% The projected annual installation volumes for 2025, 2026, and 2027 are 1154 GWh, 1418 GWh, and 1708 GWh, respectively, with year-on-year growth rates of 28.5%, 22.8%, and 20.5% [1] Regional Breakdown - In the first half of 2025, power battery installations in China, Europe, North America, and other regions were 295 GWh, 106 GWh, 65 GWh, and 37 GWh, respectively, with year-on-year growth rates of 36.6%, 31.5%, 7.5%, and 48.8% Emerging markets like Vietnam, Indonesia, and the Philippines showed higher growth rates It is expected that the total annual installations for 2025 will be 704 GWh in China, 223 GWh in Europe, 144 GWh in North America, and 82 GWh in other regions, with year-on-year growth rates of 32.1%, 28.9%, 8.27%, and 39.0% [1] Battery Capacity per Vehicle - In the BEV market for the first half of 2025, the average battery capacity per vehicle in North America, Europe, and China was 89.2 KWh, 70.5 KWh, and 62.9 KWh, respectively, showing increases of 4.6 KWh, -0.1 KWh, and 1.8 KWh compared to the average values in 2024 [3] - In the PHEV market, the average battery capacity per vehicle in China was 26.0 KWh, an increase of 1.8 KWh compared to the 2024 average, while North America and Europe had lower capacities than China [3] Market Share Analysis - In the Chinese market, CATL's market share for the first and second quarters of 2025 was 45.0% and 42.7%, respectively, compared to 46.6%, 44.3%, and 45.4% in the previous years [3] - In the European market, CATL's market share increased from 29.0% in 2022 to 44.0% in the second quarter of 2025 [3] - In North America, the top three companies in the second quarter of 2025 were Panasonic, LGES, and SDI, with CATL ranking fourth [3] - In Asia and other markets, BYD, CATL, and LGES ranked first, second, and third in the second quarter of 2025, with market shares of 27.4%, 22.3%, and 15.8%, respectively [3]

Core Viewpoint - The article highlights the significant growth in China's new energy vehicle (NEV) market and the corresponding increase in power battery installation capacity, indicating a pivotal year for GWh-level shipments in 2025 [2][3]. Summary by Sections New Energy Vehicle Sales - In the first seven months of 2025, China's NEV sales reached 8.22 million units, a year-on-year increase of 38.5%, with a penetration rate of 45.0%, up by 8.6 percentage points [2]. Power Battery Installation - The power battery installation capacity in China for the same period reached 343.52 GWh, reflecting a year-on-year growth of 40.2% [2]. Battery Enterprises and Clients - A total of 48 power battery companies provided installation for vehicles, a decrease of 3 companies compared to the previous year, primarily serving passenger vehicles [6]. - The top 10 battery enterprises by installation volume include CATL, BYD, and others, with a total installation of 153.46 GWh for the leading companies [7][8]. Market Concentration - The market concentration for the top 10 battery companies (CR10) was 95.3%, a decrease of 1.3 percentage points year-on-year, attributed to the market share gains of emerging companies [8]. Battery Material Types - In terms of battery materials, the installation of ternary batteries was 66.63 GWh, accounting for 19.4%, down by 7.2 percentage points year-on-year, while lithium iron phosphate batteries reached 276.56 GWh, making up 80.5%, an increase of 7.2% [8]. Battery Shapes - The installation of square batteries was 334.29 GWh, representing 97.3% of the total, an increase of 0.5 percentage points year-on-year. Cylindrical batteries accounted for 2.1% and soft-pack batteries for 0.6% [10]. - BMW announced the upcoming use of large cylindrical batteries in its new vehicles, which is expected to boost the market share of cylindrical batteries [10].

Core Viewpoint - The article highlights the significant growth in the power battery installation volume in May 2025, with a year-on-year increase of 34.08% and a month-on-month increase of 7.3%, indicating a robust demand in the electric vehicle sector [1]. Group 1: Overall Market Performance - In May 2025, the total power battery installation volume reached 53.35 GWh, with a cumulative total of 226.92 GWh from January to May, reflecting a year-on-year growth of 42.95% [1]. - The installation volume of lithium iron phosphate batteries was 41.37 GWh, showing a year-on-year increase of 57.9% [2]. - The installation volume of ternary lithium batteries was 10.36 GWh, which represents a year-on-year decrease of 3.0% [2]. Group 2: Product Shape Analysis - Square lithium batteries accounted for 51.01 GWh in May, with a year-on-year growth of 35.94% [3]. - Cylindrical lithium batteries had an installation volume of 1.06 GWh, reflecting a year-on-year increase of 13.98% [3]. - Soft-pack lithium batteries saw a decline, with an installation volume of 0.28 GWh, down 53.33% year-on-year [3]. Group 3: Company Performance - CATL (宁德时代) led the market with an installation volume of 23.55 GWh in May, capturing 44.14% of the market share, which is a month-on-month increase of 12.57% [6]. - BYD (比亚迪) followed with an installation volume of 12.68 GWh, holding 23.77% of the market share, but experienced a month-on-month decline of 1.94% [6]. - The combined market share of the top five companies (CR5) was 83.28%, while the top ten (CR10) accounted for 94.08% of the total installation volume [6]. Group 4: Customer Distribution - For CATL, Geely accounted for 12.78% of its installation volume, while Changan and Tesla contributed 9.64% and 7.86%, respectively [7]. - BYD's self-supply ratio was 81.23%, with Xpeng and NIO accounting for 4.57% and 3.00% of its installation volume, respectively [13]. - For Zhongchuang Innovation (中创新航), GAC Group held 18.18% of the installation volume, while Leap Motor and Geely accounted for 13.07% and 10.80%, respectively [20]. Group 5: Material Composition - In May, CATL's installation volume included 68.07% lithium iron phosphate batteries and 31.21% ternary lithium batteries [8]. - BYD exclusively used lithium iron phosphate batteries, maintaining a 100% share in its installation volume [16]. - Zhongchuang Innovation's installation volume comprised 73.58% lithium iron phosphate batteries and 26.42% ternary lithium batteries [23].