Seoul, Aug 4 South Korean battery makers saw their combined global market share decline in the first half from a year ago despite an overall growth in global electric vehicle (EV) battery usage, data showed on Monday.
According to energy market tracker SNE Research, global battery usage in EVs, plug-in hybrid electric vehicles (PHEVs) and hybrid electric vehicles (HEVs) totalled 504.4 gigawatt-hours (GWh) during the January-June period, up 37.3 percent from the same period last year, reports Yonhap news agency.
The combined market share of LG Energy Solution Ltd., SK On Co. and Samsung SDI Co. dropped by 5.4 percentage points from a year earlier to 16.4 percent for the January-June period.
LG Energy Solution maintained its No. 3 position, with 47.2 GWh of batteries used, which marks a 4.4 percent on-year increase and 9.4 percent of the global market. SK On ranked fifth with 19.6 GWh, recording a 10.7 percent increase, accounting for 3.9 percent of the global market.
In contrast, Samsung SDI saw its battery usage decline 8 percent to 16 GWh, with its market share falling from 4.7 percent to 3.2 percent. The drop was largely attributed to weakened battery demand from Europe and North America.
Chinese battery makers, meanwhile, continued to expand their market share backed by strong price competitiveness. China's CATL retained its global leader position, with 190.9 GWh in battery usage and a 37.9 percent market share.
SNE Research noted that the global battery market is undergoing rapid supply chain restructuring and increasing regulatory pressure in the U.S. and Europe, and urged industry players to bolster technological strength and flexible sourcing strategies.
Recently, South Korea's three major battery makers on Wednesday showcased their new battery solutions at InterBattery 2025, the country's premier battery industry exhibition, as they prepare for the upcoming era of electric vehicles (EVs) after the current slowdown.
LG Energy Solution Ltd. (LGES), the country's biggest battery firm, unveiled its new lineup of 46-millimeter diameter, cylindrical EV battery cells at the three-day exhibition that lasts through Friday in southern Seoul.
Of the new lineup, the 4680 cylindrical model, measuring 80mm in length, is expected to steal the spotlight as U.S. EV maker Tesla Inc. announced in 2020 that it would use the product in its future vehicles.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor