On February 24, the South Korean research institute SNE Research released the 2024 global power and ESS battery shipment rankings.
According to the rankings, global power and ESS battery shipments in 2024 reached 1,299 GWh. Among them, CATL secured the top position with shipments of 491 GWh.
Other Chinese companies on the list include BYD, EVE, CALB, Gotion High-tech, and Sunwoda, ranking second, fourth, fifth, sixth, and tenth, respectively.
These six Chinese companies collectively accounted for 69% of the global power and ESS battery market share.
South Korean companies saw a decline in overall market share, with LGES, Samsung SDI, and SK On ranking third, seventh, and ninth, respectively, with a combined market share of approximately 16%.
For Japanese companies, Panasonic ranked eighth, with power and ESS battery shipments down 46% YoY, the largest decline among the Top 10 companies, and a market share of 3%.
SNE Research also noted that the total market share of the Top 10 global power and ESS battery companies decreased from 92% in 2023 to 87% in 2024, a drop of 5%.
In terms of power battery shipment rankings, the Top 10 global power battery companies in 2024 were CATL, BYD, LGES, CALB, Panasonic, Samsung SDI, Gotion High-tech, SK On, EVE, and Sunwoda.
For ESS battery shipment rankings, the Top 10 global ESS battery companies in 2024 were CATL, EVE, BYD, CALB, Gotion High-tech, Samsung SDI, LGES, Panasonic, Sunwoda, and SK On.
Previously, research institutions EVTank and the China Battery Industry Research Institute jointly released data on 2024 global power and ESS battery shipments: global power battery shipments reached 1,051.2 GWh in 2024, up 21.5% YoY; global ESS battery shipments reached 369.8 GWh in 2024, up 64.9% YoY.
From the competitive landscape of major global power battery enterprises, CATL ranked first in 2024 with shipments of nearly 360 GWh, holding a global market share of 34.2%, down 1.5 percentage points compared to 2023. Its top five automaker clients in 2024 were Tesla, Geely, BMW, Volkswagen, and NIO.
BYD, driven by its NEV group, ranked second in power battery shipments. Additionally, BYD's key automaker clients in 2024 included Xiaomi, Tesla, Toyota, and XPeng.
Ranking third was South Korea's LGES, with power battery shipments of nearly 120 GWh in 2024. Its top five clients were Volkswagen, Tesla, General Motors, Hyundai, and Volvo.
According to EVTank data, the companies ranking fourth to tenth in global power battery shipments in 2024 were CALB, South Korea's SK On, Japan's Panasonic, South Korea's Samsung SDI, Gotion High-tech, EVE, and SVOLT Energy Technology, respectively.
In the competitive landscape of major global ESS battery enterprises, eight of the top ten companies in 2024 were Chinese. CATL led with nearly 110 GWh of ESS battery shipments, accounting for 29.5% of the global market share, followed by EVE, Xiamen Hithium, BYD, AESC, CALB, REPT, and Gotion High-tech. South Korea's Samsung SDI and LGES ranked ninth and tenth, respectively.
Comparing the rankings of the Top 10 companies in 2023 and 2024, it is evident that the competitiveness of Japanese and South Korean companies in the ESS sector has significantly declined. Among Chinese companies, EVE rose to second place globally; BYD dropped from second in 2023 to fourth in 2024; AESC showed significant progress, climbing to fifth globally, with approximately 50% of its shipments exported overseas through overseas system integrators; REPT's shipments declined, ranking seventh globally.
