The Global Market Share of Chinese Battery Companies Increased Significantly in H1 2022, with CTL Taking up over 30%

SHANGHAI, Aug 3 (SMM) - On Tuesday, South Korean market research agency SNE research released a survey report showing that the market share of Chinese battery companies has increased significantly. The report shows that in the first half of this year, the global market share of Chinese power battery companies increased significantly, and CATL took up more than 30% of the global power battery market. At the same time, the market share of South Korean power battery companies was squeezed. 
In the first half of this year, six out of the top ten companies in the global power battery market were Chinese companies, with a combined market share of 56%.
Among them, CATL's share in the global electric vehicle battery market increased from 28.6% to 34.8% in the first half of the year, ranking first in the world. At the same time, BYD's share in power batteries market increased from 6.8% to 11.8%, ranking third in the world.
Chinese companies are actively expanding their market share
 At present, the market share of Chinese power batteries in North America and Europe is rapidly increasing, and Chinese power battery manufacturers are also increasing investment. 
In the first half of this year, no less than 85 power battery plant construction projects were launched in China, and the total investment is expected to exceed 591 billion yuan. 
Chinese power battery manufacturers are also expanding their business in South Korea. The "Niro EV" launched by KIA in June this year uses CATL batteries. The car will be sold in South Korea. This is the first time CATL has entered the Korean market. 
"Many Chinese companies have led the growth of the battery market, led by CATL and BYD. All Chinese companies among the global top 10 power battery companies showed triple-digit growth rates," SNE Research said.