Top Companies in Lithium-Ion Battery Packs Market | Major Industry Players Statistics, Historic Data, Growth rate, by VMR
Lithium-ion batteries are becoming increasingly popular in the use of portable electronics and electric vehicles.
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Upcoming Trends in Lithium-Ion Battery Packs Market
The Global Lithium-Ion Battery Packs Market is valued at USD 57.8 Billion in the year 2021 and is projected to reach a value of USD 68.6 Billion by the year 2028. The Global Market is projected to grow to exhibit a Compound Annual Growth Rate (CAGR) of 2.9% over the forecast period. The growth of the market is majorly driven by the surging requirement for continuous power supply from critical infrastructures in wake of COVID-19, increasing demand for plug-in vehicles, growing need for battery-operated material-handling equipment in industries due to automation, continued development of smart devices, and growing adoption of lithium-ion batteries in the renewable energy sector.
Lithium-ion batteries are a source of power for electric vehicles. The widespread use of electric vehicles (EVs) and plug-in hybrid electric vehicles (PHEVs) has inevitably boosted the adoption of lithium-ion batteries, which is expected to increase further in the future. The growing adoption of EVs among consumers has helped boost the market for these energy-saving, pollution-reducing vehicles. The number of electric vehicles is constantly increasing, owing to advantages aligned with them such as less need to maintain the vehicle engine, reduced use of hazardous oil waste, and reduction in pollution caused by fuel combustion engines, along with the development of improved battery technologies. Electric vehicles are perceived as the future of the automobile industry and transportation systems; their increased adoption will eventually increase the demand for lithium-ion batteries.
Some of the key players operating in the Lithium-Ion Battery Packs Market are listed below:
|
Company Name |
Revenue in USD |
|
$25 Billion |
|
$24 Billion |
|
$14 Billion |
|
$9 Billion |
|
$54 Billion |
|
$53 Billion |
|
$11 Million |
|
$964 Million |
|
$982 Million |
|
$364 Million |
BYD Co. Ltd. is a publicly-listed Chinese conglomerate manufacturing company headquartered in Shenzhen, Guangdong, China. It was founded by Wang Chuanfu in February 1995. The company has two major subsidiaries, BYD Automobile and BYD Electronic. The company is listed as 002594 (SHE) on the Chinese stock market. The company has 229,154 total numbers of employees working across China.
LG Chem Ltd., often referred to as LG Chemical, is the largest Korean chemical company and is headquartered in Seoul, South Korea. It was the 10th largest chemical company in the world by sales in 2017. It was first established as the Lucky Chemical Industrial Corporation, which manufactured cosmetics. The company is listed as 051910 (KRX) in the stock exchange market. In 2020, the company had 20,000 employees working and generated revenue of USD 10 billion.
Contemporary Amperex Technology Co. Limited, abbreviated as CATL, is a Chinese battery manufacturer and technology company founded in 2011 that specializes in the manufacturing of lithium-ion batteries for electric vehicles and energy storage systems, as well as battery management systems. The company is listed as 300750 (SHE) in the Chinese stock exchange market. In 2020, the company had 33,078 employees working and generated revenue of USD 7.8 billion.
Samsung SDI Co., Ltd. is a battery and electronic materials manufacturer headquartered in Yongin, Gyeonggi-do, South Korea. Samsung SDI operates its business in Energy Solutions and Electronic Materials segment. The company is listed as 006400 (KRX) in the stock exchange market.
Panasonic Holdings Corporation, formerly Matsushita Electric Industrial Co., Ltd. between 1935 and 2008 and the first incarnation of Panasonic Corporation between 2008 and 2022, is a major Japanese multinational conglomerate company, headquartered in Kadoma, Osaka.
Tesla, Inc. is an American automotive and clean energy company based in Austin, Texas. Tesla designs and manufactures electric vehicles, battery energy storage from home to grid-scale, solar panels and solar roof tiles, and related products and services. The company is listed on the stock market as TSLA(NASDAQ). In 2021, the company generated revenue of USD 53.82 billion and has approximately 1,00,000 employees working.
Lithium Werks designs, engineers and manufactures lithium iron phosphate batteries ranging from cells to custom battery modules. The company’s lithium-ion batteries provide high capacity, long life, and an excellent safety profile. The company is a privately held organization.
Saft is a French company involved in the design, development, and manufacturing of batteries used in transport, industry, and defense. Headquartered in France, it has an international presence.
Varta AG is a German company manufacturing batteries for global automotive, industrial, and consumer markets. The company is listed as VAR1 (ETR) on the stock exchange.
Farasis Energy, Inc. is an advanced lithium-ion battery technology company focused on developing and commercializing innovative energy storage solutions to meet the increasingly critical, global demand for improved battery performance, cost, and safety. Farasis Energy, Inc. is a pre-IPO company.
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