Global Top 5 SSD Module Makers Surged from 59% in 2022 to 72% in 2023: Kingston, Adata, Lexar, Kimtigo and Biwin

This market report, written on October 23, 2024, was published by TrendForce Corp.

Global Top 5 SSD Module Makers Continue to Gain Market Share;
Chinese Brands Leverage Home Advantage

The combined market share of the  top 5 SSD module makers in the retail sector has surged from 59% in 2022 to 72% in 2023, reinforcing a trend of larger companies expanding their dominance.

These major players are leveraging their scale to negotiate more favorable prices for NAND flash, boosting their competitive edge and ensuring they have sufficient resources to stock up in preparation for market shifts.

Shipments of branded SSDs in the retail market reached 180 million units in 2023, marking a Y/Y growth of 3.7%. Reflecting on the SSD market for that year, it appeared that many PCs purchased during the pandemic had entered their typical replacement cycle. 

Most PCs come equipped with 256GB or 512GB SSDs, which often fall short for gamers and SOHO creators. Consequently, many users chose to expand their SSD storage to over 2TB, which helped drive sales. 

Starting in 2H23, NAND flash suppliers significantly cut back on production to elevate ASP. This, combined with market expectations of price hikes, led to early purchases and contributed to the overall increase in SSD shipments for the year. 

TrendForce reports that Kingston maintained its position as the top global SSD module maker in the retail market, largely due to its vast sales network and robust product support.

Adata, which targets high-end hardware and gaming enthusiasts, claimed the second spot. 

Lexar excelled in the Chinese retail market, while Kimtigo took advantage of its local strengths to boost shipments in China. The top companies took 3rd and 4th places, respectively.

Biwin made a notable debut in top 10, securing 5th place by leveraging its identity as a domestic Chinese brand focused on the consumer market.

Colorful, in 6th place, utilized its proprietary controller and NAND flash chips to improve cost efficiency and drive sales.

Gigabyte saw a rise of 2 positions in revenue rankings, fueled by strong demand in the gaming sector and its well-known motherboard offerings.

Teclast remained a competitive player in the global SSD arena, moving up one spot, while PNY broadened its reach through e-commerce and international channels to take ninth place.

Transcend, with a focus on industrial control products, managed to maintain profitability in the consumer market, rounding out the top 10 despite a decline in shipment volumes.

While fewer Chinese SSD manufacturers made it into the top 10 in 2023, the country’s focus on boosting domestic production has enabled local firms to narrow the technology gap as they made the leap from PCIe4 to PCIe5. NAND flash supplier YMTC is also advancing next-gen processes to navigate US sanctions. Additionally, the growing preference among Chinese consumers for homegrown products has bolstered the competitiveness of local brands in the market.

Nevertheless, the SSD retail sector may encounter considerable hurdles in the near future. With nearly all new notebooks now featuring SSDs, the demand for replacing HDDs – a crucial factor for retail growth – is waning. Future expansion will rely on the need for increased capacity and enhanced performance. Consequently, retail brands must devise strategies to tackle the anticipated decline in purchase volumes.