Combined Market Share Reaches 34.8%

The three major Korean EV battery companies accounted for about 35 percent of the global market in the Jan.-Aug. period of this year.

Market research firm SNE Research said on Sept. 29 that the batteries of the electric vehicles that were registered between Jan. 1 and Aug. 31 this year added up to 162 GWh, 139.3 percent from a year ago.

That includes 39.7 GWh supplied by LG Energy Solution, 8.8 GWh by SK Innovation and 7.9 GWh by Samsung SDI. The three companies took the second, fifth and sixth places in the global market in that period, respectively. Specifically, their global market shares were 24.5 percent, 5.4 percent and 4.9 percent at the end of August, respectively. The combined market share fell 0.2 percentage point year on year.

The market growth in that period was led by Chinese companies with their domestic market growing rapidly. CATL’s supply and market share soared 210.8 percent and rose to 30.3 percent, respectively. BYD showed a year-on-year growth of 216.1 percent and reached a market share of 7.7 percent. CALB’s figures are 288.1 percent and 2.9 percent and Guoxuan High-Tech’s are 165.7 percent and 2 percent. Panasonic came in third with a market share of 13.3 percent.

Last month, the worldwide use of EV batteries totaled 25.2 GWh, up 120.6 percent from a year earlier. The market demand continued to increase for the 14th consecutive month and the use increased a lot in China, the United States and Europe alike.

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