SNE Research: S. Korean battery trio's global market share drops to 22.3% in Jan-May
Jul.3,2024

Asia Tech Wire (July 3) -- The three major South Korean battery manufacturers saw their market share fell 2.8 percentage points year-on-year to 22.3% from January to May this year, according to SNE Research.

From January to May this year, the global total installed capacity of all types of electric vehicle batteries rose 23% year-on-year to 285.4 gigawatt-hours, Korean market research firm SNE Research said in a report on Wednesday.

China's CATL still maintains the No. 1 position in the whole world, and is the only battery maker hat captures a market share of more than 30%.

South Korea's top three battery makers, LG Energy Solution (LGES), Samsung SDI and SK on, all ranked in the top five.

Specifically, LGES' installed capacity grew 5.6% year-over-year to 35.9 gigawatt-hours (GWh), giving it a 12.6% market share.

SK on grew 4.2% year-on-year to 13.9 GWh, with a market share of 4.9%.

And Samsung SDI jumped 26.8% year-on-year to 13.7 GWh, with a market share of 4.8%.

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