[Edaily Reporter JAEMIN SONG ] As the global electric vehicle battery market continues to grow at a double-digit rate, Chinese battery manufacturers have further solidified their dominance. The combined market share of CATL and BYD—the world’s top two manufacturers—has expanded to 54.6%, and the number of Chinese companies among the top 10 has increased to seven, accounting for a 72.6% market share. In contrast, while South Korea’s three major battery manufacturers continued to grow or maintained their rankings, they failed to keep pace with the market’s average growth rate, resulting in a simultaneous decline in their market shares.

According to market research firm SNE Research on the 3rd, global battery consumption for electric vehicles (EVs, PHEVs, and HEVs) from January to May this year reached 469.2 GWh, a 16.3% increase compared to the same period last year.

CATL recorded 188.4 GWh, marking a 22.9% year-over-year increase and retaining the top spot. Its market share rose by 2.2 percentage points from last year to 40.2%. BYD maintained second place with 67.6 GWh, and the combined market share of the two companies exceeded half the total at 54.6%.

Chinese companies also continued to gain ground. CALB ranked fourth with 23.8 GWh, a 36.3% increase year-over-year, while Gotion ranked fifth with 21.7 GWh, up 37.0%. EVE and SVOLT each grew by more than 35%, and Sunwoda also posted double-digit growth. As a result, Chinese companies accounted for seven of the top 10 manufacturers, and their market share expanded by 2.1 percentage points from 70.5% last year to 72.6% this year. SNE Research analyzed that Chinese companies are expanding their influence by broadening their customer base—including overseas automakers and energy storage systems (ESS)—while leveraging their domestic market as a foundation.

The market share of South Korean companies declined slightly. LG Energy Solution maintained its third-place position with 41.0 GWh, but its market share fell from 9.5% to 8.7%. Although its usage volume increased by 7.3% thanks to expanded EV sales by some customers, this growth fell short of the market average. SK On recorded a usage volume of 15.8 GWh, a 5.8% decrease, due to slowing EV sales among major customers in North America and Europe, as well as production adjustments for certain models; its market share also shrank from 4.2% to 3.4%.

SNE Research assessed that the global EV battery market has entered a phase where policy changes, tariffs, price competition, and product portfolio restructuring are occurring simultaneously, moving beyond simple sales expansion. The analysis indicates that while EV demand is recovering, particularly in Europe, the Asia-Pacific region, and Latin America, demand volatility is increasing in North America and China due to policy changes and production adjustments by automakers.

SNE Research projected, “In the future market, the scale and price competitiveness of Chinese companies such as CATL and BYD, along with the diversification of customer bases and the ability of South Korean and Japanese companies to secure high-value-added cells, energy storage systems (ESS), and localized supply capabilities, will be the key factors determining competitiveness.”