aluates Reports
0
USD
Rapid charging times, high energy efficiency, and zero maintenance are just a few things that make Lithium-ion batteries a valuable proposition. Given the ongoing demand for Li-ion batteries on smartphones, smartwatches, tablets, cars, and power grids, the technology has peaked in terms of both usage and face value.
"The market for Li-ion batteries is expected to increase about ten folds between 2018 and 2030, mainly due to the EV boom."
A report from Valuates provides us with statistical data that supports Li-ion batteries growing popularity. This informs us that the growth of the lithium industry nearly doubled from USD 11.7 billion to 22.5 billion between 2012 and 2016. The same report also told that "the Li-ion Battery market is projected at a CAGR of 5.8% during the forecast period of 2019 to 2025 ".
Here is a list of top 7 companies that are dominating the Li-ion battery manufacturing market.
Panasonic's tryst with lithium-ion started with the electric car boom. Panasonic is currently producing batteries for Tesla's tech and automotive giants, whose cars are well-known worldwide for their efficiency and performance. Besides, the company is also active in communication systems and security systems manufacturing.
Samsung SDI, a wholly-owned subsidiary of Samsung electronics, is committed to fueling research and innovation in lithium-ion technology for both in-house use and potential customers elsewhere. The company is currently engaged in, among other things, the manufacture of lithium-ion batteries, solar panels and energy storage systems. Samsung SDI is available in some of the world's largest markets, including Germany, Malaysia, and the United States.
LG Chem is one of the world's leading manufacturers of lithium-ion batteries as it supplies a wide range of industries. LG Chem has made deep inroads spread across a myriad of different sectors from providing energy solutions to the petrochemical industry to the aviation industry. The company also makes heavy-duty consumer goods batteries such as smartphones and laptops.
Toshiba made a considerable investment in lithium engineering in its R&D unit. The company is currently engaged in the manufacture and sale of lithium-ion batteries and associated automotive and telecommunications storage solutions. The company has been involved in the production of general logic ICs as well as flash storage as part of its diversification process.
Joining the ranks is a Chinese company that provides the automotive industry with its lithium-ion battery technology. The company produces both lithium-ion batteries along with electric cars, making it one of the very few carmakers with an in-house production department for battery production. Recently, despite the ongoing US-China trade war, BYD has won multiple offers to sell electric cars to the US market.
This is another Chinese company that is fast gaining traction in the space of the lithium-ion. Yes, China is today's largest market for EVs, and most electric vehicles are powered by Contemporary Amperex Li-ion batteries. The company now plans to expand its business beyond the APAC area and to establish a foothold on the European and American markets.
Tesla is the US's top Li-ion battery manufacturer. Tesla has a JV with Panasonic at Gigafactory in the United States. Their US Gigafactory is the biggest production facility of lithium-ion in the world. Tesla mainly focuses on supplying their vehicles and products for energy storage, noting that they are currently the world's No. 1 electric car seller. Tesla is now building its Gigafactory in Shanghai China and has plans for a mega factory based in Europe
eCobalt Solutions, based in Canada, has positioned its lithium-ion technology towards the growing sector of renewable energy. The renewable energy industry appears to be a great place in terms of investment, especially for manufacturers of lithium-ion batteries, as the industry has enormous potential and demand.
