CATL and BYD, two of the world’s largest electric vehicle (EV) battery manufacturers, continued to dominate the market in January-April. According to data from South Korean market research firm SNE Research, global EV battery usage reached 308.5 GWh during this period, marking a 40.2 percent increase from the same period last year.
CATL saw its EV battery installations rise to 117.6 GWh in January-April, a 42.4 percent increase from the previous year. The Chinese company maintained its position as the top supplier with a market share of 38.1 percent, the only supplier with a market share exceeding 30 percent. While CATL’s market share slightly decreased compared to the previous quarter, it remained higher than its share in the same period last year.
On the other hand, BYD’s EV battery installations reached 53.4 GWh in January-April, showing a significant increase of 60.8 percent from the previous year. The company claimed the second spot with a market share of 17.3 percent, up from 15.1 percent in January-April 2024. LG Energy Solution followed closely behind with battery installations totaling 31.4 GWh and a market share of 10.2 percent.
Other key players in the EV battery market include SK On, CALB, and Gotion High-tech, ranking fourth, fifth, and sixth, respectively. Samsung SDI, Panasonic, Eve Energy, and Svolt Energy also made it to the top ten list, with market shares ranging from 2.6 percent to 3.3 percent.
The competition in the EV battery market remains fierce as manufacturers strive to meet the growing demand for electric vehicles worldwide. With CATL and BYD leading the pack, it will be interesting to see how these companies continue to innovate and expand their market presence in the coming months.
