LG Chem, SAMSUNG SDI CO.,LTD and Contemporary Amperex Technology Co., Limited are Dominating in the Global Lithium Ion Battery Market in 2019

Global Lithium Ion Battery Market is expected to grow with the CAGR of 15.8% in the forecast period of 2020 to 2027. The years considered for study are as mentioned below.

Access Full Report @ https://www.databridgemarketresearch.com/reports/global-lithium-ion-battery-market

Global lithium ion battery market is a highly fragmented market, which includes number of key players as well as local players. The market has witnessed increased strategic developments owing to favourable market scenario.

The major players dealing in global lithium ion battery market are introducing strong range of product portfolio. This helped companies to maximize the sales with enhanced product portfolio. For instance, in March 2018, SAMSUNG SDI CO.,LTD. had launched a new product called ESS Battery at the event in Europe. This ESS is made of 111Ah cell which is used to increase the energy storage of the battery while the size of the battery remains smaller.

LG Chem is the dominating player in global lithium ion battery market. The other key players existing in the lithium ion battery market includes Saft (a subsidiary of Total), SAMSUNG SDI CO.,LTD., Lithium Energy Japan (a subsidiary of GS Yuasa International Ltd.), Tianjin Lishen Battery Co., Ltd., Shenzhen A&S Power Technology Co., Ltd., LITHIUMWERKS, GlobTek, Inc., BYD Company Ltd, Panasonic Corporation, VARTA Microbattery GmbH (a subsidiary of VARTA AG), Dalian CBAK Power Battery Co., Ltd, TOSHIBA CORPORATION, CALB USA Inc., Shenzhen BAK Technology Co., Ltd., Contemporary Amperex Technology Co., Limited, A123 Systems LLC, Amperex Technology Limited (a subsidiary of TDK Corporation), XALT Energy, Leclanche among others.

Lithium Ion Battery MarketLG Chem:

LG CHEM is headquartered in Seoul, South Korea and was established in 1947. The leading chemical company has its product ranging from top-notch batteries to durable cosmetic product lids of unprecedented quality. The company operates in various business segments such as petrochemicals, energy solutions and advanced materials out of which energy solutions is the market focused segment. The company offers various products under categories such as petrochemicals, advanced materials, life sciences and energy solutions among which energy solutions is the market focused category.

For instance,

  • In December 2019, LG Chem collaborated with General Motors, which is engaged in the manufacturing of batteries for electric vehicles. This collaboration led to the development of electric batteries for the cars in large scale. The collaboration increases the growth of the company.

The company has wide global presence across Americas, Europe, Asia and Oceania with its various subsidiaries such as LG Chemical America, Inc. (U.S.), LG Chem China Investment Co., Ltd. (China), LG Chem Japan Co., Ltd. (Japan), LG India Holdings Inc (India), LG Polymers India Pvt Ltd. (India) among others.

SAMSUNG SDI CO.,LTD.:

SAMSUNG SDI CO.,LTD. is headquartered in Yongin, South Korea and was founded in 1970. The company is engaged in manufacturing of rechargeable batteries for energy storage systems (ESS), automobiles and IT industry. The company offers various products under categories such as small-sized li-ion battery, automotive battery, ESS and electronic materials among which small-sized li-ion battery and automotive battery are the market focused categories.

For instance,

  • In March 2018, SAMSUNG SDI CO.,LTD. announced the launch of its new product called ESS at its Europe event. This ESS has been used to increase its energy storage density and also capacity maintaining its size. The new product increased the product portfolio of the company.

The company has wide global presence across North America, Asia and Europe and generates revenue from subsidiaries such as Novaled GmbH (Germany), Samsung Chemical (Thailand) CO., Ltd. (Thailand), Samsung SDI America, Inc. (U.S.), Samsung SDI Germany GmbH (Germany), Samsung SDI (Malaysia) Sdn. Bhd. among others

Contemporary Amperex Technology Co., Limited:

Contemporary Amperex Technology Co., Limited is headquartered in Fujian, China and was established in 2011. The company is engaged in the manufacturing and research and development of full industry chains for energy storage battery field. The company offers various products and applications under categories such as green vehicle and energy storage out of which energy storage is the market focused category.

For instance,

  • In August 2020, Contemporary Amperex Technology Co., Limited had announced a new development of battery which will be without nickel or cobalt. This type of battery will be developed for the new generation cars which will also be less expensive than traditional ones. This launch of new technology will increase the company growth and reputation in the market and also make it different from NCA or LFP batteries. 

The company has presence across the globe in North America, Asia and Europe. In addition, it also generates revenue from its subsidiaries such as Contemporary Amperex Technology Canada Limited (Canada), Contemporary Amperex Technology GmbH (Germany), Contemporary Amperex Technology (Hong Kong) Limited among others.