The competition in the electric vehicle battery market continues to intensify amid the growing global demand. In a significant development, BYD is now gaining ground to catch up with long-time market leader CATL.
BYD catches up with CATL
In the first four months of the year, total electric vehicle battery consumption reached 216.2 GWh.
That capacity indicates a notable growth of 21.8% from just 177.6 GWh in the same period in 2023, South Korean market researcher SNE Research revealed.
While CATL remains the global leader with a 37.7% market share, it saw a decline in the January to April 2024 period. Meanwhile, BYD remained behind CATL with a 15.4% market share, but it continues to record an increase. It would not be surprising if BYD could match or even surpass CATL’s battery capacity deployment in the coming years.
Top 10 EV battery makers globally (Jan-Apr 2024)
Presented below are the top 10 electric vehicle battery makers in the world from January to April 2025:
| Rank | Manufacturer Name | 2023.1~4 | 2024.1~4 | Growth Rate | 2023 Market Share | 2024 Market Share |
| 1 | CATL | 62.6 | 81.4 | 30.0% | 35.3% | 37.7% |
| 2 | BYD | 28.1 | 33.2 | 18.3% | 15.8% | 15.4% |
| 3 | LG Energy Solution | 26.0 | 28.0 | 7.8% | 14.6% | 13.0% |
| 4 | Samsung SDI | 8.2 | 10.9 | 32.9% | 4.6% | 5.1% |
| 5 | SK on | 10.5 | 10.3 | -2.0% | 5.9% | 4.8% |
| 6 | Panasonic | 14.4 | 10.2 | -29.5% | 8.1% | 4.7% |
| 7 | CALB | 7.3 | 9.3 | 26.4% | 4.1% | 4.3% |
| 8 | EVE | 3.3 | 5.0 | 53.2% | 1.8% | 2.3% |
| 9 | Gotion | 4.1 | 4.8 | 15.8% | 2.3% | 2.2% |
| 10 | Sunwoda | 2.8 | 4.4 | 57.7% | 1.6% | 2.0% |
| Others | 10.2 | 18.7 | 83.0% | 5.8% | 8.7% | |
| Total | 177.6 | 216.2 | 21.8% | 100.0% | 100.0% |
Market share up for grabs as EV battery consumption reaches new highs
The strong dominance of CATL in the electric vehicle battery industry is starting to wane as rivals advance with their innovative approaches and technologies, enabling them to grab a significant market share.
As electric vehicle battery demand continues to increase, current leaders might have a hard time maintaining their lead. As a result, they offer opportunities for other players who are striving to catch up.
Battery makers with more affordable and cutting-edge offerings will undoubtedly gain a large portion of the global market. That said, those players who can continuously adapt and innovate will certainly benefit from the surge in battery demand.
