Top 6 Vendors in the Global Lithium-ion Battery Market
LONDON–(BUSINESS WIRE)–Technavio has announced the top six leading vendors in their recent global lithium-ion battery market report from 2017-2021. This market research report also lists 20 other prominent vendors that are expected to impact the market during the forecast period.
ompetitive vendor landscape
The global lithium-ion battery market is expected to reach USD 81.65 billion by 2021, growing at a CAGR of over 11%. The market is not yet developed and is still in its initial stage. There are several vendors present worldwide. Many small-scale and medium-scale enterprises and larger players compete in the market. Competition is expected to intensify due to the introduction of new technologies and higher investments in the market. However, in developing countries, local or regional vendors dominate the market. With the rise in the need for energy-efficient technology, the market is expected to grow. Innovations and enhancement of technology will be the criteria among vendors to meet the demand in the market.
According to Thanikachalam Chandrasekaran, a lead analyst at Technavio for energy storage, “Companies are adopting inorganic growth solutions like M&A and forming partnerships with effective product launches. Acquisitions and joint ventures are some of the strategies that the vendors are pushing aggressively to gain market share and gain a competitive edge.”
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Technavio market research analysts identify the following key vendors:
A123 Systems
The company manufactures and supplies nano phosphate lithium-ion (lithium iron phosphate) batteries and energy storage systems. It offers lithium-ion battery products, including cells, energy modules, lead-acid replacement batteries, power modules, and systems. The company offers its products in three segments: Cells, Modules, and Systems. A123 Systems offers two types of high-performance lithium iron phosphate battery (LiFePO4) technologies. These technologies help to deliver high power and energy density to enhance cycle life and provide a compact package.
Automotive Energy Supply
Automotive Energy Supply also was known as AESC. Automotive Energy Supply is a manufacturer of lithium-ion batteries for EVs established 2007 as a joint venture between Nissan, NEC, and NEC Tokin. The company is into research, development, manufacture, and sale of high-performance lithium-ion batteries for automotive applications.
LG Chem
LG Chem specializes in providing rechargeable batteries to various industries. The company manufactures petrochemical goods, information and electronic materials, batteries, and related products and solutions. The company also offers battery solutions for products such as laptops, power tools, smartphones, e-bikes, garden tools, power banks, digital cameras, and others. The automotive battery division offers batteries for HEVs, PHEVs, and EVs.
