In the first half of this year, China’s CATL has seized a market share close to 33% in the global electric vehicle battery market, surpassing the combined market share of the top three South Korean battery manufacturers.
According to energy market research firm SNE Research, global battery sales for the first half of this year totaled 431.8 GWh. Based on the battery pack, the market size is US$70.5 billion (94.3 trillion won). China’s CATL led the market, accounting for 28.5% of sales and 32.7% in shipping volume.
Among the South Korean top three, LG Energy Solution ranked second with a market share of 16.2% in terms of sales. SK innovation (7.7%) and Samsung SDI (7.0%) followed, ranking fourth and fifth, respectively.
In terms of shipment volume, LG Energy Solution (16.5%) was second, SK innovation (7.0%) was fourth, and Samsung SDI (5.1%) was fifth.
The combined market share of the three companies is 28.6%, falling short of CATL. China’s BYD, which has its own electric vehicle manufacturing and battery supply system, ranked third with a market share of 9.3% in sales and 11.3% in shipment volume.
Japan’s Panasonic ranked sixth, with a 4.0% market share in sales and 4.9% in shipment volume. Excluding South Korea’s top three and Japan’s Panasonic, all of the top 10 global battery manufacturers were Chinese.