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Global EV battery market share in 2023: CATL 36.8%, BYD 15.8%

EV World Desk2 min read

As a comparison, CATL and BYD‘s shares in 2022 were 36.2 percent and 13.9 percent, respectively.

For the full year of 2023, total global battery consumption for electric vehicles was 705.5 GWh, up 38.6 percent from 509.2 GWh in the same period last year, according to data released on February 7 by South Korean market researcher SNE Research.

CATL has an installed battery capacity of 259.7 GWh in 2023, up 40.8 percent from 184.4 GWh in 2022.

The Chinese power battery giant continued to rank first in the world with a 36.8 percent share and remains the only battery supplier in the world with a market share of more than 30 percent.

This is higher than its 36.2 percent share in 2022 and lower than its 37.4 percent share in the January-November period.

BYD installed 111.4 GWh of power batteries in 2023, up 57.9 percent from 70.5 GWh in 2022.

The company was second with a 15.8 percent share in 2023, up from 13.9 percent in 2022 and up from 15.7 percent in the January-November period.

South Korea’s LG Energy Solution installed 95.8 GWh of power batteries in 2023, up 33.8 percent year-on-year.

The South Korean company was the world’s third largest with a 13.6 percent share, down from 14.1 percent a year ago and unchanged from January-November.

Japan’s Panasonic was fourth with a 6.4 percent share, South Korea’s SK On was fifth with 4.9 percent and China’s CALB was sixth with 4.7 percent.

South Korea’s Samsung SDI, China’s Gotion High-tech, Eve Energy, and Sunwoda ranked seventh, eighth, ninth, and tenth, respectively, with shares of 4.6 percent, 2.4 percent, 2.3 percent, and 1.5 percent in 2023.

Notably, China’s Farasis Energy made its debut on SNE Research’s list in the January-November rankings, when it replaced Sunwoda in 10th place.

In the latest full-year 2023 rankings, Sunwoda replaced Farasis to re-enter the list.