Chinese firms now control 72.5% of global EV battery market

Chinese battery giant CATL Contemporary Amperex Technology Co., Limited extended its grip on the global electric vehicle battery market in the first five months of 2026, recording 188.4 gigawatt-hours of installations and a 40.2% market share, according to data released by South Korean market tracker SNE Research.sneresearch

Total global EV battery usage reached 469.2 GWh from January through May, a 16.3% increase year-on-year, with Chinese manufacturers collectively strengthening their hold over the industry.chinaevhome+1

Chinese Dominance Deepens

CATL's installations grew 22.9% year-on-year, lifting its share by 2.2 percentage points compared with the same period last year. BYD held second place with 67.6 GWh and a 14.4% share, though its volume slipped 0.4% from a year earlier — a decline attributed to the direct link between its battery output and the sales trends of its own EV lineup.moomoo+1

Seven of the top 10 battery makers were Chinese firms, together accounting for 72.6% of global installations, up 2.1 percentage points year-on-year. CALB, Gotion High-tech, Eve Energy, and Svolt all posted year-on-year growth exceeding 35%, powered by strong domestic automaker demand and expanding overseas supply agreements.sneresearch

Korean and Japanese Makers Lose Ground

LG Energy Solution maintained third place with 41.0 GWh, growing 7.3% but seeing its market share slip from 9.5% to 8.7% as its expansion lagged the overall market. SK On recorded a 5.8% decline to 15.8 GWh, with its share falling from 4.2% to 3.4%, hurt by weakening EV demand among its North American and European customers.sneresearch

Panasonic fell to eighth place with 15.1 GWh, down 8.5%, reflecting shifting model demand at its primary customer, Tesla ↘ 7.49%.sneresearch

What Comes Next

SNE Research characterized the market as entering "a new phase" defined by tariffs, price competition, and portfolio restructuring rather than simple volume growth. The firm identified the competition between Chinese scale players and Korean and Japanese firms' high-value cell strategies, ESS solutions, and localized supply capabilities as the key variable shaping future market dynamics.sneresearch