This year, from January to October, the global electric vehicle battery market size grew by 35% compared to the same period last year, while the market share of the three major domestic battery companies decreased by 3.5 percentage points.

According to market research firm SNE Research on the 2nd, the amount of batteries installed in electric vehicles worldwide from January to October was 933.5 GWh (gigawatt-hours), a 35.2% increase from the same period last year. Among the top five companies by market share, four were Chinese companies. CATL (38.1%), BYD (16.9%), CALB (4.7%), and Gotion (4.1%) together accounted for a combined market share of 63.8%, slightly up from 62.1% last year.

Among Korean companies, LG Energy Solution ranked third with a market share of 9.3%. SK On and Samsung SDI were recorded at 4.0% (6th place) and 2.7% (8th place), respectively. The combined market share of the three companies was 16.0%, down 3.5 percentage points from 19.5% the previous year. All three companies saw a decline in market share. Japan's Panasonic ranked 7th, with its market share decreasing from 4.1% to 3.8%.

SNE Research stated, “CATL batteries are adopted by many (non-Chinese) companies, including major Chinese automakers as well as Tesla and BMW,” adding, “BYD is expanding significantly not only in China but also in the European market, leveraging its excellent price competitiveness by selling its own electric vehicles.”

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