Chinese Battery Makers Reach 73% Global Market Share

November 2, 2026

E-mobility, Industry & Market

Chinese battery makers increased their combined global share to 73.0% as worldwide electrified-vehicle battery usage rose 19.7% to 994.5 GWh. South Korea’s three largest suppliers fell to a combined 12.6% share.

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Worldwide battery usage in electric vehicles, plug-in hybrid electric vehicles and hybrid electric vehicles reached approximately 994.5 GWh from January through September 2026, according to SNE Research. This represented a 19.7% year-over-year increase, but market-share trends diverged between Chinese and South Korean suppliers.

The combined share of seven Chinese battery manufacturers rose 3.5 percentage points to 73.0%. The combined share of South Korea’s LG Energy Solution, SK On and Samsung SDI fell 4.1 percentage points to 12.6%, widening the gap between the two groups from 52.8 to 60.4 percentage points.

Contemporary Amperex Technology Co., Limited (CATL) remained the largest supplier, with battery usage increasing 24.9% to 389.2 GWh. Its market share rose from 37.5% to 39.1%. BYD ranked second with 150.9 GWh, up 7.4%, although its share declined from 16.9% to 15.2%. Together, CATL and BYD accounted for 54.3% of the market.

EV batteries · January–September 2026

Chinese Battery Makers Reach 73.0% Global Market Share

China gained 3.5 percentage points as Korea fell 4.1 percentage points, widening their gap from 52.8 percentage points to 60.4 percentage points.

73.0%Chinese makers’ global shareSeven Chinese makers versus South Korea’s three majors.

GWh, January–September 2026Shareyear-on-year

CATLShare rose from 37.5%389.2 GWh39.1%up 24.9%

BYDShare declined from 16.9%150.9 GWh15.2%up 7.4%

LG Energy Solution9.8% prior; North America down 44.9%81.9 GWh8.2%up 0.7%

SK On4.2% prior; North America down 46.7%28.3 GWh2.8%down 18.1%

Total battery usage994.5 GWhEVs, PHEVs and HEVs; 19.7% increase year-on-year

South Americaup 176.8%Asia excluding China 74.1%; Europe 33.1%; China 16.2%

North America85.9 GWhContracted 24.3% year-on-year

LFP share57.7%Expanded from 52.5% over the year

CATL and BYD held 54.3% combined; CATL grew 17.5 percentage points faster, while third-quarter 2026 net-profit growth of 14.5% trailed 58.6% revenue growth.

Policy Meets DiversificationSK On signed a 9 GWh ESS deal; China imposed a 2% tax in September 2026 and will end export VAT rebates in January 2027.

Chinese Battery Makers Reach 73.0% Global Market Share · BatteryTech Network

LG Energy Solution retained third place with 81.9 GWh. Its usage increased 0.7%, while its share declined from 9.8% to 8.2%. A 44.9% reduction in North American usage offset growth in Europe and Asia. SK On remained eighth after usage fell 18.1% to 28.3 GWh, reducing its share from 4.2% to 2.8%.

Battery demand grew 16.2% in China, 33.1% in Europe, 74.1% in Asia excluding China and 176.8% in South America. North American usage contracted 24.3% to 85.9 GWh. The share of lithium iron phosphate batteries increased from 52.5% to 57.7%.

South Korean manufacturers are responding by converting some North American EV battery capacity to energy storage system production. SK On is converting part of its Georgia plant to LFP lines for ESS applications and has signed a 9 GWh supply contract with a U.S.-based ESS company. LG Energy Solution is also converting North American EV production lines for ESS use.

Source: businesskorea.co.kr