Chinese battery giant CATL maintained its dominant position in the electric vehicle (EV) battery market from January to November this year, according to analyst firm SNE Research.
The company held a 31.8% market share during the time period __ over ten points ahead of South Korea’s LG Energy Solution, which took second place with a share of 20.5%. Japan’s Panasonic ranked third with 12.5%.
BYD ranked fourth with 9%, followed by SK On’s 5.8% and Samsung SDI’s 4.5%.
SNE Research noted that Chinese companies led the growth in the EV battery market (which includes pure EV, plug-gin hybrids and hybrids) this year from January to November.
CATL and BYD saw growth of 180% and 192%, respectively, year-on-year.
SNE Research said South Korean battery makers showed growth higher than the market average but their shares dropped compared to a year ago.
LG Energy Solution, SK On and Samsung SDI reported year-on-year increases of 90%, 119% and 60%, respectively.
The companies enjoyed high growth in 2020 but is being pushed back by growth of their Chinese rivals in 2021, the analyst firm said.
Even if taking December’s figures into account, the ranking of these companies won’t likely change, SNE Research added.