CATL and BYD have solidified their positions as the top two largest battery makers in the world from January to October. According to data released by SNE Research, global electric vehicle (EV) battery usage reached 686.7 GWh during this period, marking a 25.0 percent increase from the previous year.
CATL, also known as Contemporary Amperex Technology Co Ltd, led the pack with EV battery installations totaling 252.8 GWh, a significant 28.3 percent increase from the same period last year. The Chinese powerhouse maintained its dominance with a market share of 36.8 percent, making it the only supplier with a share exceeding 30 percent. This share was slightly higher than its previous 35.9 percent share in the same period last year.
On the other hand, BYD saw its power battery installations rise to 115.3 GWh, a 31.3 percent increase from the previous year. The company captured a 16.8 percent share, securing its second-place position in the market. BYD’s power batteries are primarily used in its own vehicles, although other companies like Nio and Xiaomi have started adopting them as well.
In terms of overall new energy vehicle (NEV) sales, BYD reported 3,250,532 units sold in the January-October period, marking a 36.49 percent year-on-year increase. The company continued its stellar performance in November by selling 506,804 NEVs, achieving record sales for the sixth consecutive month.
While BYD briefly fell behind LG Energy Solution in EV battery share earlier in the year, it quickly regained its momentum and has since maintained its second-place position. LG Energy Solution, a South Korean company, secured the third spot with 81.2 GWh of installed power battery volume and an 11.8 percent share.
Other notable players in the market include China’s CALB, South Korea’s SK On, and Japan’s Panasonic, ranking fourth, fifth, and sixth, respectively. South Korea’s Samsung SDI, China’s Gotion High-tech, Eve Energy, and Sunwoda rounded out the top ten with their respective market shares.
The competitive landscape in the EV battery market continues to evolve, with CATL and BYD leading the charge and setting the benchmark for innovation and growth. As the demand for electric vehicles continues to rise, these two giants are well-positioned to capitalize on the market opportunities and drive the industry forward.
