On July 3, 2026, South Korean research firm SNE Research released the latest data on global electric vehicle (EV) battery installations for the first five months of 2026 (January to May).
According to the data, total battery usage for EVs, PHEVs, and HEVs worldwide reached approximately 469.2 GWh in the first five months of 2026, up 16.3% from the same period last year.
In terms of market share, seven Chinese battery manufacturers — CATL, BYD, CALB, Gotion High-Tech, EVE Energy, SVOLT, and Sunwoda — ranked among the global top 10 during the January to May 2026 period. Together, these seven Chinese companies captured 72.6% of the global market, up 2.1% year-on-year.
Among South Korean battery makers, LG Energy Solution and SK On both saw their shares decline, with their combined share falling to 12.1%. The sole Japanese representative, Panasonic, saw its share drop to 3.2%.
In terms of the year-on-year changes in installation volumes, SK On and Panasonic recorded negative growth.
Chinese players:
Within the top tier, Chinese players showed particularly strong momentum. From January to May 2026, CATL maintained its global No. 1 position with installations of 188.4 GWh, a 22.9% increase year on year, raising its market share to 40.2%, up 2.2% from the prior-year period. BYD held second place with 67.6 GWh, a modest 0.4% rise, capturing 14.4% of the market. The combined share of CATL and BYD reached 54.6%, underscoring the sustained dominance of leading Chinese companies in the global EV battery market.
BYD’s battery usage tends to fluctuate in line with its EV sales, showing relatively high volatility. However, with the brand’s expanding overseas sales, coupled with the competitiveness of its Blade Battery and ultra-fast-charging technologies, these factors are likely to serve as medium-to-long-term growth drivers.
Other Chinese players during January to May period:
- CALB:23.8 GWh, ranked fourth, up 36.3% YoY;
- Gotion High-Tech:21.7 GWh, ranked fifth, up 37.0% YoY;
- EVE Energy:15.4 GWh, ranked seventh, up 35.2% YoY;
- SVOLT:12.1 GWh, ranked ninth, up 35.3% YoY;
- Sunwoda:11.4 GWh, ranked tenth, up 13.8% YoY.
These Chinese manufacturers continue to benefit from a solid domestic OEM customer base, while also expanding their supply footprint through overseas OEM partnerships and by diversifying into commercial vehicles and energy storage systems (ESS).
Korean players:
During the January to May period, LG Energy Solution ranked third with 41.0 GWh. Although its volume grew 7.3% year on year, that lagged behind the overall market growth rate, and its share fell from 9.5% last year to 8.7% this year. LG’s batteries power models from major global automakers including Tesla, Hyundai Motor Group, General Motors, and Volkswagen; analysts attribute its usage growth partly to higher EV sales from these clients. Still, the company faces headwinds from China’s rapid expansion and fluctuating demand from various OEMs, limiting its ability to expand market share.
SK On recorded 15.8 GWh in battery usage, a 5.8% decline year on year, reducing its share from 4.2% to 3.4%. Although its batteries are used by leading automakers such as Hyundai, Ford, Volkswagen, and Mercedes-Benz, the drop appears to reflect slowing EV sales among key customers in North America and Europe, as well as production adjustments for certain models. In particular, the softening of EV demand in the US market is adding volatility to battery suppliers heavily reliant on North American clients.
Japanese players:
Panasonic ranked eighth with 15.1 GWh, an 8.5% decrease from a year earlier. Analysts believe that changes in sales trends across Tesla’s model lineup directly impacted Panasonic’s battery usage. Although Tesla maintains a high sales volume globally, shifts in model mix and regional sales slowdowns have affected the battery supplier’s performance. To reduce this volatility stemming from its Tesla-centric supply structure, Panasonic is working to improve production efficiency in North America and strengthen the competitiveness of its next-generation cylindrical cells.
SNE Research observed that the global EV secondary-battery market from January to May 2026 has moved beyond a simple volume-growth phase, entering a stage where policies, tariffs, price competition, and product-mix restructuring all play simultaneous roles. While global EV sales continue to grow, driven by recoveries in non-Chinese markets such as Europe, Asia-Pacific, and Latin America, along with rising penetration in emerging economies—demand volatility is increasing in North America and China due to policy changes and production adjustments by OEMs.
At the same time, the expanding adoption of LFP batteries, rising ESS demand, Chinese companies’ overseas expansion, and tighter supply-chain regulations in the US and Europe are intertwining to make the competitive landscape more complex. Going forward, the scale and price competitiveness of Chinese giants like CATL and BYD, alongside the ability of South Korean and Japanese players to diversify customers, offer high-value-added cells, and build localized ESS and supply capabilities, are expected to be the key variables shaping the market.
Source: WeChat Official Account——马里亚纳锂电
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