Electric Vehicle Battery Market Share in China Nears Half... Up 11%P in One Year

SNE Research, Battery Usage Aggregated from January to November
CATL, BYD and Other 4 Chinese Companies Hold 45.6% Market Share

China's battery company CATL, ranked number one in global market share, Research and Development Center

[Asia Economy Reporter Choi Dae-yeol] The market share of Chinese electric vehicle battery manufacturers has increased by more than 10 percentage points in one year, approaching half of the global market. As the adoption of electric vehicles expands worldwide, the overall battery usage has also surged significantly, contrasting with the declining market shares of South Korean and Japanese battery companies.

According to the global electric vehicle battery usage data from January to November this year released by SNE Research on the 29th, China's Ningde Shidai (CATL) maintained its top position with a 31.8% market share. Its usage volume reached 79.8 GWh, 2.8 times higher than the same period last year, with its market share rising by nearly 8 percentage points during the same period. Other Chinese companies such as BYD, Zhonghang Lithium Battery (CALB), and Guoxuan also doubled their battery usage, resulting in a simultaneous increase in their market shares.

Among the top 10 companies, the combined market share of Chinese battery manufacturers rose to 45.6%, up 11 percentage points from 34.6% in the same period last year. The only companies with increased market shares were Chinese firms and South Korea's SK On. LG Energy Solution's battery usage increased by about 90% compared to last year, securing a 20.5% market share and ranking second.

Panasonic, ranked third, saw its market share decrease from 19.4% to 12.5%. SK On held 5.8% market share, ranking fifth, while Samsung SDI had 4.5%, placing sixth. SNE Research compiles statistics based on batteries installed in electric vehicles (including PHEV and HEV) sold in 80 countries worldwide. The top 10 companies collectively account for over 90% of the global battery supply.

The rise of Chinese companies is attributed to increased sales of electric vehicles using domestically produced batteries within China. Additionally, as supply volumes to other OEMs such as Tesla gradually increase, Chinese firms are also capturing market share from South Korean and Japanese battery manufacturers. Recent trends indicate this pattern is becoming more pronounced. In November alone, Chinese companies' market share exceeded half at 52.2%.

SNE Research stated, "The three domestic companies (LG, SK, Samsung) experienced remarkable growth last year but have somewhat stalled this year due to the aggressive advances of Chinese firms. The large-scale overseas expansion efforts by Chinese companies are expected to pose a significant threat."

Meanwhile, the global electric vehicle battery usage from the beginning of this year through last month reached 250.8 GWh, an increase of approximately 112% compared to the same period last year.

This content was produced with the assistance of AI translation services.