Market share of world’s top EV battery makers (Jan-May 2026)
Market Share of World’s Top EV Battery Makers (Jan-May 2026)
Company
Market Share (%)
Installations (GWh)
CATL
40.2%
188.4
BYD
14.4%
67.6
LG Energy Solution
8.7%
41.0
CALB
5.1%
23.8
Gotion High-tech
4.6%
21.7
SK On
3.4%
15.8
Eve Energy
3.3%
15.4
Panasonic
3.2%
15.1
Svolt
2.6%
12.1
Sunwoda
2.4%
11.4
Others
12.1%
56.8
- Among the top 10 companies, seven were Chinese firms, together accounting for 72.6% of the global EV battery market.
- Compared with the same period last year, CATL’s market share expanded further, while BYD’s declined.
CATL (HKEX: 3750) and BYD (HKEX: 1211) continued to dominate the fiercely competitive global electric vehicle (EV) battery market in the first five months of 2026, though with differing performances.
Between January and May, total global EV battery usage reached 469.2 GWh, marking a 16.3% increase compared with the same period last year, according to data released Friday by South Korean market research firm SNE Research.
CATL’s battery installations during this period reached 188.4 GWh, up 22.9% year-on-year.
The Chinese power battery giant maintained its dominant position in the global market during the January-May period, posting an overall global market share of 40.2%. This was higher than the 38.0% recorded in the same period last year.
BYD, ranked second globally, delivered a lackluster performance in the first five months of 2026, recording total battery installations of 67.6 GWh during the period, a mere 0.4% increase compared with the same period last year.
BYD’s global market share for January-May was 14.4%, down from 16.7% a year earlier.
The combined market share of the two Chinese giants reached 54.6%, underscoring the dominance of Chinese firms in the EV battery market.
South Korea’s LG Energy Solution (LGES) ranked third globally with battery installations of 41.0 GWh in January-May.
Although LGES’s total usage rose 7.3% year-on-year, its market share slipped to 8.7% from 9.5% a year earlier, as the overall market grew at a faster pace.
China’s CALB (HKEX: 3931) recorded EV battery installations of 23.8 GWh in the January-May period, up 36.3% year-on-year. It ranked fourth with a 5.1% share, higher than the 4.3% recorded a year earlier.
China’s Gotion High-tech (SZSE: 002074) followed closely in fifth place with a 4.6% share. Its installations reached 21.7 GWh, representing year-on-year growth of 37.0% during the period.
South Korea’s SK On suffered a notable decline, with its battery installations falling 5.8% year-on-year to 15.8 GWh.
The company ranked sixth globally with a 3.4% share, down from 4.2% a year earlier, largely attributable to a slowdown in EV sales among its major customers in North America and Europe.
China’s Eve Energy (SZSE: 300014) ranked seventh with installations of 15.4 GWh, up 35.2% year-on-year, giving it a 3.3% share.
Japan’s Panasonic recorded installations of 15.1 GWh during the period, down 8.5% from a year earlier.
Its 3.2% share placed it eighth globally, down from 4.1% a year earlier, mainly due to a slowdown in sales growth in certain regions for its key customer Tesla (NASDAQ: TSLA).
China’s Svolt Energy and Sunwoda (SZSE: 300207) ranked ninth and tenth in the global market with battery installations of 12.1 GWh and 11.4 GWh, respectively. Their shares stood at 2.6% and 2.4%, respectively.
The two Chinese companies posted year-on-year installation growth of 35.3% and 13.8%, respectively, during the January-May period.
Among the top 10 companies globally, seven were Chinese firms, together accounting for 72.6% of the global market share.
This combined share rose 2.1 percentage points from the same period last year, further squeezing the market space of their Japanese and South Korean rivals.
CATL remained China’s largest power battery maker in May, though its share edged down 0.51 percentage points from April.
