China’s battery giant CATL leads the global electric vehicle battery market with a 36.8% share in the first three quarters

By Greg Gao

(JW Insights) Nov 8 -- Chinese battery giant CATL dominated the global electric vehicle battery market in the first three quarters of this year with a market share of 36.8%, according to a report released by market research firm SNE Research on November 7. 

It is the only global battery supplier with a market share exceeding 30%. China’s EV manufacturer BYD came in second place with a 15.8% share. 

CATL previously disclosed that its battery sales in the third quarter were close to 100 GWh, showing growth compared to the second quarter, with energy storage batteries accounting for nearly 20%. Currently, its capacity utilization has improved to around 70%, higher than in the first half of the year and it positions the company at a relatively high level within the industry. 

CATL’s factory in Germany has already started production; It is planning for a 100 GWh capacity for its Hungarian factory, with the first phase already under construction and expected to be completed in about two years.

CATL grew nearly two times year over year in every continent except China. The Chinese battery maker continues to grow fast as its OEM batteries go into many of the world’s leading electric vehicles, according to the SNE Research report.

In the global battery making ranking, LG Energy Solution held third place with a 14.3% market share. SK Innovation and Samsung SDI ranked fifth and seventh with market shares of 5.1% and 4.5%, respectively.

Additionally, Panasonic, ranking fourth with a 7.0% share, is the only Japanese company in the top ten.