In the first 10 months of this year, the installed volume of power batteries in the Ningde era led the world, and the market share of the three giants in South Korea declined.

Thanks to CTOnews.com netizens for the delivery of clues about the past. CTOnews.com, December 6 (Xinhua) according to the latest data released by South Korean market research firm SNE Research, the global installed capacity of power batteries reached 552.2 gigawatt hours (GWh) in the first 10 months of 2023, an increase of 44% over the same period last year. Despite the strong overall market performance, the market share of Korean brands has fallen to 23.4 per cent from 24.5 per cent last year.

CTOnews.com noted that from January to October this year, the market share of the three Korean power battery giants fell 1.1 percentage points year-on-year to 23.4%, but the number of cars installed by all three companies increased. Among them, LG New Energy performed prominently with a year-on-year growth rate of 47.2%, with an installed capacity of 76.1 gigawatt hours, ranking third in the world. The number of cars loaded by the SK On increased 13.8% to 27.9 gigawatt hours, ranking fifth. Samsung SDI also grew by 42.1%, ranking seventh with 25.1 gigawatt hours.

At the same time, China's Ningde era and BYD are outstanding in the global power battery market. With 203.8 gigawatt-hours of loading and a year-on-year growth rate of 51.1%, Ningde era ranks first in the world with a market share of 36.9%. BYD became the world's second-largest supplier of power batteries with a growth rate of 66.5% and 87.5 gigawatt-hours of capacity. The data reflects China's growing leading position in the global power battery market.