Global EV Battery Market in First Five Months of 2026: Chinese Firms Claim 70% Share as Japanese and Korean Rivals Struggle

From January to May 2026, the total installed capacity of batteries for electric vehicles (EVs) worldwide reached 469.2 GWh, an increase of 16.3% year-over-year. Among the top ten global battery suppliers by installed capacity, seven were Chinese companies, collectively capturing a 72.6% market share—up 2.1 percentage points from the same period last year. CATL led the ranking with 188.4 GWh of installed capacity, up 22.9% year-over-year, securing a 40.2% global market share. BYD ranked second with 67.6 GWh, experiencing a slight year-over-year decline of 0.4%. Other Chinese second-tier players, including CALB and EVE Energy, saw their installed capacities grow by over 35% year-over-year during the same period. In contrast, Japanese and South Korean battery makers as a whole showed weak growth. LG Energy Solution’s growth rate lagged behind the industry average, resulting in a declining market share, while SK On and Panasonic both recorded year-over-year decreases in installed capacity. Meanwhile, global market demand exhibited regional divergence during this period, with emerging markets becoming a key source of incremental growth, while demand fluctuations intensified in North America and China. Currently, the global battery industry is evolving along two distinct competitive paths: Chinese firms are leveraging their advantages in production capacity and cost efficiency to dominate mainstream markets, whereas Japanese and South Korean companies are focusing on high-end, specialized segments.