Q1 2026 Global EV Battery Market Grows 9.1% to 244.6 GWh; CATL Commands 40.7%, Korean Makers Face Mixed Results

South Korean market research firm SNE Research, reporting on May 6, 2026, found that global production of battery cells for electric vehicles grew 9.1% year-on-year to 244.6 GWh in Q1 2026. CATL extended its dominance with production up 15.2% to 99.5 GWh, capturing a 40.7% global market share — its highest-ever recorded quarterly figure. BYD held second position with 13.7% share. Among South Korean manufacturers, LG Energy Solution ranked first with +6.6% growth to 23.7 GWh, while SK On declined 10.4% to 9.0 GWh and Samsung SDI fell 27.7% to 5.3 GWh — the latter a sharp drop attributed to customer mix changes as major automakers slow premium NMC cell procurement in response to US IRA credit uncertainty. SNE Research characterised the global battery market as entering a 'structural transition phase,' with demand trends diverging by region: declining in China (market saturation at lower price points) and North America (post-IRA credit expiry EV demand softness), while growing in Europe, other Asian markets, and emerging economies. The structural shift is also visible in chemistry: LFP and sodium-ion cells are gaining share relative to NMC as cost-sensitive segments dominate new deployments. Grid storage applications now account for roughly 30% of total battery cell production globally.