Editor’s note: Large power storage devices, mostly batteries, will take the variability out of power production from wind and solar farms, hence our interest in this information.
The global lithium-ion battery market is expected to reach $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 such as 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.”
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.
Panasonic
Panasonic manufactures and distributes electronic and electrical products in Japan and worldwide. It provides various business solutions such as communication solutions, security systems, professional AV systems, terminal solutions, document and imaging solutions, IT solutions, and recording media. It has a strong presence in North America, Latin America, EMEA, China, and Oceania.
Samsung SDI
SAMSUNG SDI manufactures and sells digital display products worldwide. It also offers rechargeable lithium-ion and lithium polymer batteries. It operates as a subsidiary of the Samsung Group. The company’s product portfolio includes batteries, solar energy panels, electric car batteries, energy storage systems, and plasma display panels. Some of the subsidiaries of the company are SAMSUNG SDI America, SAMSUNG SDI Germany, SAMSUNG SDI-Europe, and SAMSUNG SDI Malaysia. SAMSUNG SDI is one the major players in the global batteries market. SAMSUNG SDI offers a wide range of battery solutions.
Toshiba
Toshiba is engaged in the R&D, manufacture, and sales of electronic and electrical products worldwide. Offers energy-related equipment and transportation, and security systems to the automation and telecommunication sectors. The company offers general logic ICs, NAND flash memories (storage devices used in smartphones, tablet PCs, data centers, and servers), optical semiconductors, power devices, organic liquid-crystal displays, hard disk drives, solid-state drives, large-scale integrated circuits for image information systems, and thin-film transistors. Toshiba has constantly improved its Lithium-ion battery technology, to compete in the market.
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Filed Under: Energy storage
