Global EV Battery Demand Rises Despite Market Slowdown, But Korean Firms Lose Ground

LG Energy Solution’s Revolutionary 46-Series Battery. (Image courtesy of Yonhap) SEOUL, April 9 (Korea Bizwire) — Global demand for electric vehicle (EV) batteries rose sharply in the first two months of 2025, driven largely by the continued expansion of China’s battery giants, even as the broader EV market faces a temporary slowdown, often referred to as the “EV chasm.” South Korea’s major battery manufacturers, however, saw their global market share decline once again.

According to data released Tuesday by energy market research firm SNE Research, worldwide battery usage in EVs—including battery electric vehicles (BEVs), plug-in hybrids (PHEVs), and hybrids (HEVs)—totaled 129.9 gigawatt-hours (GWh) from January to February, a 40.3% increase compared to the same period in 2024.



South Korea’s “Big Three” battery makers—LG Energy Solution, SK On, and Samsung SDI—collectively accounted for 17.7% of the global market, down 5.5 percentage points from a year earlier.

LG Energy Solution maintained third place globally with 12.7 GWh, up 8.5% year-on-year, and a market share of 9.

8%. SK On followed in fourth place, delivering 6.1 GWh—an impressive 38.

6% increase—securing a 4.7% share. Samsung SDI, however, saw its output fall 22.

2% to 4.2 GWh, slipping from fifth to eighth place with a 3.2% market share.

Analysts attributed the drop to waning demand from major automakers in Europe and North America. Meanwhile, Chinese battery manufacturers continued their surge. Market leader CATL posted 49.

6 GWh in battery usage—a 39.7% increase—retaining a dominant 38.2% global share.

BYD followed with a robust 81% growth to 21.9 GWh, securing second place with 16.9% of the market.

BYD, which manufactures both batteries and EVs, has expanded aggressively beyond China into Asia and Europe, including South Korea. Other Chinese firms, such as CALB and Gotion, also posted significant gains, rising to sixth and seventh place, respectively, with market shares of 3.8% and 3.

5%. Japan’s Panasonic remained flat year-on-year with 5.1 GWh, placing fifth with a 3.

9% market share. SNE Research cautioned that the global EV industry faces growing uncertainty due to the U.S.

Trump administration’s tariff policies, which have raised concerns about supply chain disruptions. The firm emphasized the urgency for battery makers to expand local production in North America and diversify raw material sources in response to shifting trade dynamics. Ashley Song ( ashley@koreabizwire.

com ).