CATL and BYD continued to hold the top two positions as the world's largest battery makers in the first half of 2024, both increasing their share slightly from January-May.
CATL and BYD (HKG: 1211, OTCMKTS: BYDDY) continued to hold the top two positions as the world's largest battery makers in the first half of the year, both increasing their share slightly.
In the January-June period, global battery consumption for electric vehicles (EVs) totaled 364.6 GWh, up 22.3 percent from 298.1 GWh in the same period last year, according to data released today by South Korean market researcher SNE Research.
CATL's battery installations in the January-June period stood at 137.7 GWh, up 29.5 percent from 106.3 GWh in the same period last year.
The Chinese power battery giant continued to rank first in the world with a 37.8 percent share and remained the only battery supplier in the world with a market share of more than 30 percent.
That's higher than its January-June 2023 share of 35.7 percent, and also higher than its January-May 2024 share of 37.5 percent.
BYD's power battery installations in January-June were 57.5 GWh, up 22 percent from 47.1 GWh in the same period last year.
The company ranked second in the January-June period with a 15.8 percent share, the same as in the same period last year and up from 15.7 percent in the January-May period.
BYD fell below LG Energy Solution in the January-February period, but regained ground on the South Korean firm in the January-March period.
LG Energy Solution's installed power battery volume in the January-June period was 46.9 GWh, up 5.7 percent year-on-year.
The South Korean company was third in the January-June period with a 12.9 percent share, down from 14.9 percent a year earlier and higher than the 12.6 percent share in the January-May period.
South Korea's SK On was fourth with a 4.8 percent share, China's CALB was fifth with a 4.6 percent share, and South Korea's Samsung SDI was sixth with a 4.5 percent share.
Japan's Panasonic, China's Gotion High-tech, Eve Energy, and Sunwoda ranked seventh, eighth, ninth, and tenth, respectively, with shares of 4.4 percent, 2.5 percent, 2.1 percent, and 2.1 percent in the January-June period.
Notably, in the January-May ranking, CALB's share was below Samsung SDI and Panasonic at No. 7, and Gotion was then below Eve Energy at No. 9.
China EV battery prices fall slightly in Jul as material costs continue to decline, says TrendForce
