CATL and BYD continue to dominate the global electric vehicle (EV) battery market, with their combined installations accounting for 55.5 percent of the global total in the first five months of the year. According to data from South Korean market research firm SNE Research, global EV battery usage reached 401.3 GWh from January to May, marking a 38.5 percent increase compared to the same period last year.
CATL, the Chinese battery giant, maintained its position as the world’s top EV battery supplier with installations totaling 152.7 GWh during the January-May period. This represented a 40.6 percent increase from the previous year. CATL’s market share stood at 38.1 percent, slightly higher than the 37.5 percent share recorded in the same period last year.
On the other hand, BYD saw its EV battery installations reach 70.0 GWh in the first five months of the year, a 57.1 percent increase from the previous year. The company’s market share also saw a slight increase, rising to 17.4 percent in January-May from 15.4 percent in the same period last year.
LG Energy Solution maintained its position as the third-largest EV battery supplier, with installations totaling 39.9 GWh and a 10.0 percent market share in January-May. CALB and SK On rounded out the top five suppliers with market shares of 4.2 percent each.
CATL’s market share saw a notable increase in May, rising by 3.44 percentage points compared to April, while BYD’s share decreased by 3.86 percentage points during the same period.
Overall, the global EV battery market continues to show strong growth, driven by increasing demand for electric vehicles worldwide. With CATL and BYD leading the way, the industry is poised for further expansion in the coming months.
