Top 12 Companies Fuelling the Global Lithium-Ion Battery Market

As per the analysis by Expert Market Research, the global lithium-ion battery market is expected to grow at a CAGR of 10.8% in the forecast period of 2023-2028, owing to the increasing demand for electric vehicles.

An advanced type of battery, a lithium-ion (Li-ion) battery makes use of lithium ions as a crucial part of its electrochemistry. Many everyday electronic products, including earbuds, laptops, and cell phones, use lithium-ion batteries.

With the spike in demand for electric vehicles, such as electric automobiles and electric motorcycles, the need for lithium-ion batteries has been rising. In addition, the use of consumer electronics products that employ lithium-ion cells, like mobile phones and laptops, has caused a sharp increase in the demand for lithium-ion batteries.

Further, lithium-ion batteries are generally recognised as the industry standard for any product requiring a portable rechargeable battery because of their capacity to be recharged. During the forecast period, these factors will accelerate the expansion of the global lithium-ion battery market.

Due to the demand for inexpensive, secure batteries with a better energy density, the consumer electronics market for lithium-ion batteries is anticipated to rise significantly in the next years. In terms of regional penetration, the lithium-ion battery market is anticipated to be led by Asia Pacific. Some of the biggest markets for electric vehicles are thought to be in China and Japan.

Additionally, the region is expected to see an increase in demand for consumer electronics like smartphones and other gadgets that use lithium-ion batteries. Due to the increased emphasis that governments in the region are placing on greenhouse gas emissions, the market for lithium-ion batteries in North America and Europe is also anticipated to expand at a rapid rate.

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Top 12 Global Lithium-Ion Battery Manufacturers:

Contemporary Amperex Technology Co., Limited. (CATL)

CATL, a leading global innovator, is committed to providing the best goods and services for innovative energy applications worldwide. It is one of the leading lithium battery manufacturers in the world, with its corporate headquarters in Ningde, China.

BYD Company Ltd.

BYD is a top high-tech firm in China with expertise in IT, autos, and new energy. BYD dominates the markets for keypads, handset Li-ion batteries, and nickel-cadmium batteries. It is also one of the largest producers of rechargeable batteries in the world.

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CALB-CALB Co., Ltd. (CALB)

Chinese Aviation Lithium Battery Co., Ltd. (CALB), a state-owned enterprise, specialises in the design and manufacture of lithium-ion batteries and power systems for a range of applications, including those for electric vehicles, renewable energy storage, telecommunications markets, mining equipment, and rail transportation. Now, among other markets, the United States, European Union, Japan, Korea, and Taiwan sell lithium-ion batteries made by CALB.

LG Energy Solution

LG Energy Solutions is a worldwide leader in the renewable energy industry owing to its development of premium materials and next-generation batteries. The company is a leading producer of chemical-based batteries in the world and dominates the lithium-ion battery market as a result of its advanced material science. Additionally, it has developed into a significant global player in the battery and energy storage system (ESS) industries.

Panasonic Corporation

The creation, manufacture, and marketing of electronic items, heating and cooling equipment, food distribution, and electrical equipment are all areas of business for Panasonic Corporation. Certain Panasonic technologies have reduced the weight and decreased the thickness of batteries used in devices like laptop computers and mobile phones. Additionally, they are used in solar-powered electricity storage systems, mobile phone backup base stations, electric vehicles (EV), as well as a number of other industrial applications.

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Samsung SDI Co., Ltd.

Since its founding in 1970, Samsung SDI has been striving for an innovative and creative future. Its area of expertise is the development of lithium-ion battery (LIB) technology. Cathode ray tubes (CRTs) are another product that the company makes for computer and television monitors. For solar panels, PDAs, energy storage systems, and mobile devices, Samsung SDI also produces rechargeable batteries and LCD component parts.

SK Innovation Co., Ltd.,

For 60 years, SK Innovation has been at the forefront of Korea's energy sector. It develops its know-how for current industries and identifies fresh sources of growth, with a goal of becoming a global ‘green energy & materials company’. SK Energy, SK Geo Centric, SK On, SK Lubricants, SK Incheon Petrochemical, SK Trading International, SK IE Technology, and SK Earthon are the 8 subsidiary businesses that make up SK Innovation. With its cutting-edge LiBS (Lithium-ion Battery Separator), SK IE Technology, a member of the RE100, is a global leader in wet separators.

Shenzhen Grepow Battery Co., Ltd.,

Grepow was founded with the goal of manufacturing rechargeable nickel-metal hydride batteries that are more environmentally friendly than disposable and dry nickel-cadmium batteries. They are an advanced technology business that specialises in the development and manufacture of lithium polymer, nickel metal hydride, lithium ferrocene, and lithium-ion button cell batteries. Grepow established a team in 2007 to focus on the manufacture and development of that specific method, making it one of the first lithium battery producers to make stacking pouch cell lithium batteries.

Toshiba Corporation

The Toshiba Corporation was formed by a series of mergers of smaller companies, combining under the name Tokyo Shibaura Denki, and was later renamed as Toshiba in 1978. A multi-national conglomerate, Toshiba Corporations specialises systems and solutions for infrastructure, energy, building, retail, printing, batteries, and electronic devices and storage solutions. It offers the SCiB™ series of rechargeable lithium-ion battery cells.

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A123 Systems LLC

A123 Systems LLC is a global leader in specialised energy storage solutions based on lithium-ion, providing clients with battery products that offer robust power, strong safety, and a long lifespan. Their advanced technologies are guided by sustainability practices to help in reducing reliance on fossil fuels, lower emissions, and facilitate a better fuel economy. The company caters to markets such as low voltage hybrids, plug-ins, commercial vehicles, motorsports, and other industrial end-users.

Envision AESC Group Ltd

Envision AESC is a global leader in battery technologies, using artificial intelligence powered innovations to develop improved technologies for their batteries, along with versatile applications. They encourage the use of clean energy and support the deployment of green electric vehicles through their custom battery solutions. Their lithium-ion batteries are used by more than 600,000 electric vehicles worldwide.

TianJin Lishen Battery Joint-Stock Co., Ltd.

TianJin Lishen Battery Joint-Stock Co., Ltd. is a leading manufacturer of lithium-ion batteries, and through its robust research and development activities, holds more than 1,800 patents. Its annual production capacity has increased to 10 GWh, and it provides products across six major categories: power batteries, cylindrical batteries, polymer batteries, prismatic batteries, ultra-capacitors, and photovoltaic.