Data released by SNE Research shows that from January to November 2024, global power battery installations totaled 785.6 GWh, a 26.4% year-on-year increase.
Source: China Energy News
Data released by SNE Research shows that from January to November 2024, global power battery installations totaled 785.6 GWh, a 26.4% year-on-year increase. Chinese battery manufacturers have dominated the global market, securing six spots in the top ten for power battery installations, with a combined market share of 65.5%. This marks a 2.5 percentage-point increase from the same period in 2023.
The top ten includes six Chinese companies: CATL, BYD, Contemporary Amperex Technology Co. (CALB), Gotion High-Tech, Eve Energy, and Sunwoda, which together accounted for 514.8 GWh of installations. CATL and BYD maintained their stronghold at the top, with CATL reaching 289.3 GWh, up approximately 28.6% year-on-year, and BYD installing 134.4 GWh, a 35.9% increase. Together, these two companies captured 53.9% of the global market.
Industry experts attribute the success of Chinese battery manufacturers to a combination of deep industry roots, technological innovation, and a highly integrated supply chain. Unlike their counterparts in other regions, Chinese companies benefit from a well-established supply chain, offering advantages in cost, technology, and scale—making them the preferred choice for international automakers.
As a result, many Chinese battery companies are increasingly focused on international expansion, accelerating the pace of setting up production facilities overseas. Experts remain optimistic about the global prospects for Chinese manufacturers. Southeast Asia, in particular, is seen as a promising market for power battery exports. Long Zhiqiang, a senior researcher at Xinluo Information, told China Energy News: "Battery companies should choose the right market strategy based on their positioning. By adjusting their market approaches and product offerings, they can find success in various international markets."