CATL Soars to 45.2% Market Share, Secures Global No.1 Spot as Korean Battery Makers Slide

According to the latest data from SNE Research, global EV battery installations reached 71.9 GWh in January 2024, up 10.7% year-over-year. CATL led the market with 32.5 GWh of installations, capturing a record 45.2% market share—a 25.7% increase compared to the same period last year. BYD followed closely behind with 9.9 GWh of installations, reporting year-over-year growth of 69.4% in Europe and 97.6% in emerging markets. Meanwhile, South Korea’s top three battery makers—LG Energy Solution, SK On, and Samsung SDI—all saw declines in their installation volumes, with their combined market share dropping to 12.0%, primarily due to volatility in the U.S. EV market and uncertainty surrounding subsidy policies. Among China’s second-tier battery manufacturers, CALB and Gotion High-Tech also maintained strong growth, with year-over-year increases of 51.5% and 13.4%, respectively.