"China Swallows 73% of the Global Battery Market": Shock as K-Battery Share Plunges

*This content was translated by AI.

According to market research firm SNE Research, total global electric vehicle battery usage from January to August 2026 reached 844.2 GWh, a 19.7% year-on-year increase. Usage for the single month of August rose by 14.3% to 116.8 GWh, though the rate of growth slowed. However, Chinese-affiliated battery companies have taken over the top ranks across the board, further consolidating their market dominance, while the three major domestic battery makers failed to escape a decline in market share.

The combined global market share of seven Chinese-affiliated firms rose by 3.6 percentage points year-on-year to 73.3%. In contrast, the combined share of the three domestic firms fell by 3.9 percentage points to 12.7%, presenting a stark contrast. CATL maintained its No. 1 position with a market share of 39.4% on usage of 333.0 GWh, while BYD took second place with 15.1%. Major Chinese players such as CALB and Gotion also recorded high growth rates in the 30-40% range.

Among domestic companies, LG Energy Solution maintained its No. 3 position but saw only a marginal 0.9% year-on-year increase to 68.3 GWh. Its market share dropped by 1.5 percentage points from 9.6% to 8.1%. Although usage increased in Europe and Asia, the company was hit hard by a 42.3% plunge in North American usage. SK On fell to eighth place with a 14.5% decrease to 24.9 GWh, and its market share shrank to 2.9%. The main cause was a 41.8% drop in North American usage due to the end of tax credits in the U.S. market. SK On is currently pushing for business restructuring, including the wind-down of its joint venture with Ford.

By region, Europe saw a 29.2% increase and Asia (excluding China) a 76.0% increase, while the North American market declined by 23.7% due to a demand gap. Battery manufacturers are converting production lines for electric vehicles to energy storage systems (ESS), and battery capacity per electric vehicle increased by 11.9% to 39.2 kWh. Experts pointed out that the expansion of overseas production by Chinese-affiliated firms and policy changes in various countries will be key variables shaking the competitive landscape of the global market. Strategic adjustments across the entire battery industry are now inevitable.

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*This content was translated by AI.