In recent years, lithium-ion batteries have been the technology of choice for fixed energy storage projects. Due to its advantages of low cost, energy density, efficiency, and safety, Li-ion battery technology has become the first choice for many fixed energy storage system (ESS) developers. At the same time, lithium-ion batteries are also driving the energy storage market for electric vehicles and consumer electronics. The rapid growth of these markets enables suppliers to develop economies of scale through major investments in new production facilities that lower prices. Lithium ion manufacturers have become increasingly competitive in the global market, with companies competing for market share and investing heavily in manufacturing and R&D.
According to the latest market report released by NavigantResearch, a US market research organization, the world’s top ten lithium-ion battery suppliers were announced. Among them, South Korea's LG Chemicals, Samsung SDI and China's BYD BYD rank the world's top three.
The fourth to tenth were Panasonic of Japan, Kokam of the United States, Toshiba of Japan, Saft of France, Leclanch of Leclanché, Electrovaya of Canada, and the Ningde Era (CATL).
According to NavigantResearch, the most successful companies targeting the fixed battery energy storage market so far are large companies with mature businesses that provide lithium-ion batteries for electric cars and consumer electronics. Although several market barriers may limit growth in the short term, NavigantResearch expects that by 2026, the global lithium-ion battery industry will reach US$23.1 billion, which is a huge potential.
Market growth will be mainly distributed in North America, Europe and Asia will be driven by regulatory changes and incentives, and prices will drop enough to compete with retail electricity prices. With the development of lithium-ion manufacturing, the market will provide low-cost, high-performance systems.
Ian McClenny, research analyst at NavigantResearch, stated: “With outstanding product development and strong partnerships with project developers, utility companies, financiers/investors, and system component suppliers, the global leader in the lithium-ion battery market has apparently The competition stands out and we believe that these market leaders will be the first to introduce next-generation lithium-ion batteries in the coming years."
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