The Chinese power battery market continued to grow in May, but data shows that the growth of leading companies in the industry is slowing down, and new variables have emerged in the market competition landscape.

Among them, the most volatile field of new energy commercial vehicles has become a key factor affecting the market share of top manufacturers.

The latest data shows that from January to May this year, the cumulative installed capacity of power batteries in China reached 241.3 GWh, a year-on-year increase of 50.4%.

The monthly loading volume in May was 57.1 GWh, a year-on-year increase of 43.1% and a month on month increase of 5.5%.

From a technical perspective, ternary batteries showed signs of recovery in May, with a month on month growth rate of 13.1%, ending seven consecutive months of negative growth and significantly exceeding the 3.9% growth rate of lithium iron phosphate batteries.

However, the overall concentration of the industry is becoming more dispersed. In the first five months of this year, the total market share of CR3 battery companies was 73%, a decrease of 4.8 percentage points compared to the same period last year.

Analysis indicates that lithium iron phosphate batteries have achieved high penetration due to their cost advantage, which objectively reduces the differences in product technology and provides room for other battery manufacturers to catch up.

The area with the largest fluctuation in market share data comes from the new energy commercial vehicle market. Data from January to May shows that CATL's market share in this field has declined by more than 10 percentage points compared to the same period last year, falling back to the 50% water mark.

As a result, CATL's overall market share in China for the first five months of this year has also decreased by 3 percentage points compared to the same period last year.

The slowdown in growth of top enterprises has become a focus of market attention. The loading growth rate of CATL from January to May is relatively low among the top ten companies in the industry. Similarly, BYD's year-on-year growth rate in May was only 12.4%, indicating a slight lack of growth momentum among top manufacturers.

The data also shows that BYD lost nearly 7 percentage points of market share in the lithium iron phosphate battery market from January to May.

At the same time, some second tier suppliers are seizing opportunities to achieve rapid expansion. The installed capacity of Guoxuan High tech from January to May increased by as much as 120% year-on-year.

The growth rates of Ruipu Lanjun, Zhengli New Energy, and Jidian New Energy (now Jiyao Tongtong) all exceeded 100% during the same period. The Yinpai Battery under GAC Group has achieved an astonishing year-on-year growth rate of 2000%.

In addition, Xinwangda's installed capacity exceeded 2GWh for the first time in May, elevating its monthly ranking to fifth place with a score of 2.24GWh.

The strategic differentiation of different enterprises is becoming increasingly evident. For example, the market share of EVE Energy and Ruipu Lanjun in the commercial vehicle market is significantly higher than their performance in the passenger car market. Honeycomb Energy and Xinwangda have established their own advantages in the PHEV passenger car market.

Overall, while China's power battery industry maintains high-speed growth, internal structural adjustments are accelerating.

The changing landscape of the commercial vehicle market and the differentiated rise of other manufacturers are jointly reshaping the competitive landscape of the industry, and the market pressure faced by top companies is increasing.