CATL and BYD have retained their positions as the world’s leading EV battery manufacturers in the first nine months of 2024. According to data released on November 6 by South Korean market research firm SNE Research, global EV battery usage totaled 599.0 GWh during this period, marking a 23.4% increase from 485.3 GWh in the same timeframe last year.
CATL’s EV battery installations reached 219.6 GWh, up 26.5% from 173.6 GWh a year earlier. The company holds a 36.7% share of the global market, remaining the only battery supplier with a market share exceeding 30%. While this is an increase from its 35.8% share in January-September 2023, it represents a slight decrease from the 37.1% share reported in January-August 2024.
BYD’s battery installations amounted to 98.5 GWh, a 28.0% rise from 77.0 GWh in the previous year. The company maintained its second-place ranking with a 16.4% market share, up from 15.9% last year and unchanged from the January-August period.
The market shares of CATL and BYD have been significantly influenced by BYD’s new energy vehicle (NEV) sales. In September, BYD sold 419,426 NEVs, marking its fourth consecutive month of record-breaking sales and bringing its total sales for January-September to 2,747,875 units. In October, the company set a new milestone by selling 502,657 NEVs, surpassing the 500,000-unit mark in a single month for the first time.
LG Energy Solution secured the third position with an installed battery volume of 72.4 GWh, a 4.3% year-on-year increase. The company’s market share stood at 12.1%, down from 14.3% in the previous year and unchanged from the January-August period.
Other notable rankings include China’s CALB in fourth place with a 4.9% market share, South Korea’s SK On in fifth with 4.8%, and Japan’s Panasonic in sixth with 4.3%. South Korea’s Samsung SDI held the seventh position with a 4.0% share, followed by China’s Gotion High-tech at 2.5%, Eve Energy at 2.3%, and Sunwoda at 2.1%, completing the top ten for the January-September period.
Source: CNEVPOST
