The global electric vehicle (EV) battery market experienced notable expansion in the first five months of 2026, reaching a total installed capacity of 469.2 gigawatt-hours (GWh), a significant increase compared to the previous year. Chinese battery manufacturer CATL solidified its position as the market leader, capturing over 40% of the global share with 188.4 GWh installed, marking a year-on-year growth of nearly 23%.

While CATL raised its market share from 38.0% to 40.2%, fellow Chinese competitor BYD lagged, slightly increasing its installations by just 0.4% to 67.6 GWh. Consequently, BYD’s global market share dropped to 14.4% from 16.7% the previous year. Together, these two firms control more than half of the EV battery market worldwide, emphasizing the dominance of Chinese manufacturers in this sector.

South Korean LG Energy Solution ranked third, posting a moderate 7.3% increase in battery installations to 41.0 GWh. However, the firm’s market share fell to 8.7% from 9.5%, reflecting its slower growth relative to the expanding market. Following LGES, Chinese CALB and Gotion High-tech secured fourth and fifth places respectively, each reporting strong year-on-year gains above 35% and market shares of 5.1% and 4.6%.

South Korean player SK On saw a contraction in battery installations, with a 5.8% decline to 15.8 GWh, shrinking its market share from 4.2% to 3.4%. This drop is linked to weaker electric vehicle sales in North America and Europe, key markets for the company. Other notable contributors included China’s Eve Energy, Panasonic, Svolt, and Sunwoda, which consistently expanded their output, collectively accounting for the remaining market share alongside various smaller producers.

The strong performance of Chinese battery makers underscores a broader trend of dominance by domestic firms in the EV supply chain, supported by aggressive capacity expansions and growing electric vehicle adoption globally. This trend poses competitive challenges for South Korean and Japanese manufacturers facing uneven demand across different regions.

  • Global EV battery capacity rose to 469.2 GWh, up 16.3% year-on-year.
  • CATL increased installations by 22.9%, holding 40.2% market share.
  • BYD’s market share dropped to 14.4%, despite a slight output rise.
  • LG Energy Solution’s share slipped to 8.7% amid slower growth.
  • Chinese firms make up seven of the top 10 suppliers with 72.6% market share.