DUBLIN , July 28, 2022 /PRNewswire/ -- The "Global Electric Vehicle Battery Manufacturer Profiles and Growth Opportunities" report has been added to ResearchAndMarkets.com's offering
Six battery manufacturers dominate the global EV battery market: BYD, CATL, LG Chem, Panasonic, Samsung SDI, and SK Innovation. They accounted for approximately 87% of the global installed battery capacity in 2020 and 2021.
Automotive sales in 2021 continued the seismic shift to electric vehicles (EV) that began in 2020, defying even the most bullish estimates as global EV sales grew by more than 100% year over year (YoY) with close to 6.7 million units sold to achieve 8.9% penetration in the passenger car market.
China and Europe led the way, closely followed by the United States . The rapid EV growth sent shock waves throughout the lithium-ion (Li-ion) battery industry, alerting established and new battery manufacturers to incoming demand. The EV battery market is estimated to reach $100 billion in value by 2025. Of the 6.7 million EVs sold in 2021, 70% were battery electric vehicles (BEV). BEV sales grew from 2.1 million in 2020 to more than 4.5 million in 2021, achieving a 114% YoY growth rate. This figure reflects the jump in battery demand and expected growth trajectory. EVs mainly use Li-ion batteries with varying amounts of cathode elements, such as nickel, cobalt, aluminum, and manganese.
Cobalt is a scarce resource procured from conflict regions, and battery manufacturers are actively moving away from these chemistries. Lithium iron phosphate batteries have shown the highest potential in cost, performance, and safety and use abundantly available cathode materials. Sodium is another alternative cathode chemistry that battery manufacturers are exploring. Safety is a critical consideration in EV batteries. Unlike fuel for internal combustion engine vehicles, EV batteries and battery packs are not one-size-fits-all solutions.
Battery packs and battery management systems (BMS) are customized to various factors, including the EV platform, vehicle model specifications, and regional weather. Any error during production or quality assurance checks can cause faulty batteries or battery packs, resulting in disastrous mass recalls affecting thousands of EVs.
The study also includes a SWOT analysis of each battery manufacturer before rounding out with a discussion on key growth opportunities in the global EV battery market.
This study profiles these leading battery manufacturers, shedding light on their:
Global network and production capacity
Product portfolio: Cells, chemistries, packs, and BMS
Automotive partners and top-selling EV models
Latest company news: Expansion roadmap, R&D, partnerships, supply contracts, and battery recycling initiatives
Why Is It Increasingly Difficult to Grow?
The Impact of the Top 3 Strategic Imperatives on the Electric Vehicle Battery Industry
Growth Opportunities Fuel the Growth Pipeline Engine
Annual Battery Installation by Battery Supplier
The Big 6 - Top EV Battery Manufacturers
OEM Partners and Main Models
Strategy Focus - Vertical Integration
Investments, Partnerships, and R&D
OEM Partners and Main Models
Investments, Partnerships, and R&D
5. Company Profile - LG Chem
OEM Partners and Main Models
Investments, Partnerships, and R&D
OEM Partners and Main Models
Strategy Focus - Diversification and R&D
Investments, Partnerships, and R&D
7. Company Profile - Samsung SDI
OEM Partners and Main Models
Strategy Focus - Internal Collaboration
Investments, Partnerships, and R&D
8. Company Profile - SK Innovation
OEM Partners and Main Models
Investments, Partnerships, and R&D
Growth Opportunity 1 - Regional Gigafactories for a Global Supply Network
Growth Opportunity 2 - Recycling Infrastructure for Used EV Batteries
Growth Opportunity 3 - Second-Life and New Energy Applications
For more information about this report visit https://www.researchandmarkets.com/r/otioky
Media Contact: Research and Markets Laura Wood , Senior Manager press@researchandmarkets.com For E.S.T Office Hours Call +1-917-300-0470 For U.S./CAN Toll Free Call +1-800-526-8630 For GMT Office Hours Call +353-1-416-8900 U.S. Fax: 646-607-1907 Fax (outside U.S.): +353-1-481-1716
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