In the first seven months of this year, the global market share of South Korean battery manufacturers dropped to 16.7%, with CATL ranking first at 37.5%.
Data released on Tuesday shows that despite the overall growth in global electric vehicle battery usage, the global market share of South Korean battery manufacturers declined year-on-year from January to July this year.
According to data compiled by energy market tracking agency SNE Research, the combined market share of South Korea's three major battery companies—LG Energy Solution, SK On Co., and Samsung SDI—in the electric vehicle battery sector dropped by 4.5 percentage points from the same period last year, down to 16.7%.
During this period, the total battery usage for global electric vehicles, plug-in hybrid electric vehicles (PHEV), and hybrid electric vehicles (HEV) reached 590.7 GWh, an increase of 35.3% compared to the same period last year.
LG Energy Solution's battery usage was 56.1 GWh, up 9% year-on-year, still ranking third in the world. The company accounted for 9.5% of the global market, down from 11.8% in 2024.
SK On, ranked fifth, had electric vehicle battery usage of 24.6 GWh, a year-on-year increase of 17.4%, but its market share was 4.2%, down 0.6 percentage points.
Samsung SDI, ranked eighth, had electric vehicle battery usage of 17.7 GWh, a decrease of 10.6%. Due to sluggish demand from European and North American automakers, its market share was 3%.
China's CATL remains the largest market player, with a global market share of 37.5%, slightly down from 37.8% in the same period last year.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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