CATL and BYD have continued to dominate the global electric vehicle (EV) battery market in the first five months of the year, with their combined installations accounting for over half of the total global share. According to data from South Korean market research firm SNE Research, the total EV battery usage from January to May reached 401.3 GWh, a significant increase of 38.5 percent compared to the same period last year.
CATL, the Chinese battery giant, maintained its position as the top EV battery supplier with installations totaling 152.7 GWh in the first five months of the year, representing a 38.1 percent market share. This is a slight increase from its market share in the previous months and higher than its share in the same period last year. On the other hand, BYD’s EV battery installations reached 70.0 GWh, securing a 17.4 percent market share, indicating a steady growth in its market position.
Following closely behind CATL and BYD is LG Energy Solution, with battery installations totaling 39.9 GWh and a 10.0 percent market share. The South Korean company maintained its third-place position, although there was a slight decrease in its market share compared to the previous year. CALB and SK On rounded out the top five EV battery suppliers, with market shares of 4.2 percent each.
In terms of market share changes in May, CATL saw an increase of 3.44 percentage points, while BYD’s share decreased by 3.86 percentage points. This indicates a dynamic and competitive landscape in the EV battery market, with companies jostling for position and market share.
Overall, the data highlights the continued growth and importance of CATL and BYD in the global EV battery market, with their strong market positions and consistent growth in installations. As the demand for electric vehicles continues to rise, these companies are well-positioned to capitalize on the market opportunities and drive the transition towards a more sustainable transportation sector.
