Battery Technology Market | CLARIOS (US), Panasonic Corporation (Japan), Samsung SDI (South Korea) are Major Players

The report "Battery Technology Market by Technology Type (Lithium-Ion Battery, Lead Acid Battery, Nickel Metal Hydride Battery, Other Battery Technologies), Application (Power & Utilities, Transportation, Consumer Electronics) and Region - Global Forecast to 2025",global battery technology market size is projected to grow from USD 92.0 billion in 2020 to USD 152.3 billion by 2025, at a CAGR of 10.6%. Major factors fueling the market growth include rising adoption of battery technology in the renewable energy industry, surging demand for automation and battery-operated material-handling equipment in industries, the growing use of electric and hybrid electric vehicles, increasing deployment of batteries in the utilities sector.

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The battery technology market in APAC to grow at highest CAGR during the forecast period

The adoption of battery technology is high in APAC as the region mainly comprises developing economies such as China and India, which have a huge potential for many application areas within the battery technology market. The presence of several electronic manufacturers such as Panasonic Corp. (Japan), Samsung SDI Co., Ltd. (South Korea), Contemporary Amperex Technology (China), BYD Auto Co., Ltd. (China), and LG Electronics Inc. (South Korea) is one of the key factors driving the market for batteries in APAC. The region has become an attractive automotive market. In recent years, it has emerged as a hub for automobile production. Recent infrastructure developments and industrialization activities in emerging nations have opened new avenues and opportunities for OEMs.

Key Market Players

As of 2019, Clarios (US), Panasonic Corporation (Japan), Samsung SDI (South Korea), Chaowei Power (China), Contemporary Amperex Technology (China), Enersys (US), LG Chem (South Korea), BYD Company (China), Hitachi Chemical (Japan) dominated the global battery technology market.

CLARIOS (US)

Clarios, formerly known as Johnson Controls Power Solutions, is one of the leading advanced energy storage solutions providers. Johnson Controls Power Solutions, the battery division of Johnson Controls International Inc., was acquired by Brookfield Business Partners and was renamed Clarios on May 1, 2019. Clarios offers automotive batteries globally under private labels and company brand names like Varta, Optima, LTH, Delkor, Baterias MAC, and Heliar. The company has a presence in more than 150 countries in North America, Europe, and Asia Pacific. The company focuses on expanding its product portfolio to meet the varying needs of its customers across various end-use applications. For instance, in April 2019, Clarios announced its novel VARTA Silver Dynamic Auxiliary battery range in the European market, and, in March 2019, it introduced its new VARTA Powersports batteries for motorcycle and leisure applications.

Panasonic Corporation (Japan)

Panasonic is a multinational conglomerate comprising 582 consolidated companies across the world. The company operates through four business segments: Appliances, Eco Solutions, Connected Solutions, and Automotive & Industrial Systems. The batteries & energy products subdivision produces a vast array of rechargeable and non-rechargeable batteries for industrial use, including lead-acid, lithium-ion, nickel-metal hydride, nickel-cadmium, coin, lithium, and alkaline technologies. The company focuses on inorganic strategies such as joint ventures and collaborations to target emerging and rapidly growing markets. For instance, in January 2019, it agreed to establish a joint venture with Toyota Motor Corporation related to the automatic prismatic battery business. The company plans to refine its batteries for the automotive segment and focus on the Chinese market, where it has growth potential for EVs and commercial and passenger vehicles

Samsung SDI (South Korea)

Samsung SDI, a unit of the Samsung group, manufactures secondary cells and plasma display panels. The company started its secondary Li-ion battery business in 2000; since then, Li-ion battery manufacturing has become its core business. SDI operates in two major business segments: Energy Solutions and Electronics Materials. The Energy Solutions segment includes small-sized li-on batteries, automotive batteries, and ESS (Energy Storage System) products, while the Electronics Materials segment includes semiconductors and display materials products. Samsung SDI has a strong market position in the battery technology market. The company undertakes intensive R&D activities to improve the performance of existing materials, develop new and innovative materials, and enhance the efficiency of secondary cells. It invested 6.6% of the total revenue in 2018 in R&D activities.

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LG Chem Ltd. (South Korea) and Panasonic Corporation (Japan ) are the Major Players in the Lithium Ion Battery Market

Lithium ion battery enables to deliver highly efficient products with high power and energy density and provides greater efficiency and accuracy for products with a range of different power capacities. The combination of lithium with other materials helps to add various features such as low cost, high power and energy density, increased shelf life, and chargeability factors important for different products such as consumer electronics and automotive.

The lithium ion battery market is expected to be valued at USD 68.97 Billion by 2022, growing at a CAGR of 16.6% between 2016 and 2022. The growth of this market is propelled by the increase in demand for electric vehicle, strict government mandates on fuel economy, growing demand for smart devices and other consumer electronics, and development toward enhancement of lithium ion batteries.

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LG Chem Ltd. (South Korea), Panasonic Corporation (Japan), Samsung SDI Co., Ltd. (South Korea), BYD Co L (China), and BAK Group (China) are some of the leading players in the lithium ion battery market. Some of the key strategies adopted by the major players to gain a competitive edge in the market include new product launches and developments, agreements, partnerships, contracts, mergers, acquisitions, and expansions. 

LG Chem Ltd. (South Korea) was the leading company in the lithium ion battery market in 2015. To maintain its position in the market, the company has been focusing on inorganic growth strategies such as contracts, partnerships, and agreements. In October 2016, the company entered into an agreement with Faraday Future Inc. (U.S.) to supply battery cells for electric vehicles. These agreements have enabled the company to strengthen its customer base and market position. The company is also focused on investing in R&D initiatives.

Panasonic Corporation (Japan) is one of the major players in the lithium ion battery market. The company has a strategically balanced product portfolio and a strong position in the market in APAC. The company adopts organic and inorganic growth strategies such as partnerships, agreements, and new product launches to gain a maximum share of the lithium ion battery market. For instance, in September 2016, the company launched a flexible lithium ion battery which has thickness of 0.55mm and can withstand twisting to an angle of 25° repeatedly. These batteries are used in smartcards and wearable devices. These active measures have helped the company strengthen its brand image and enhance its market presence.

Other companies involved in the development of lithium ion battery systems include Samsung SDI Co., Ltd. (South Korea), BYD Co. Ltd. (China), BAK Group (China), A123 Systems, LLC. (U.S.), GS Yuasa Corporation (Japan), Hitachi, Ltd. (Japan), Johnson Controls Inc. (U.S.), Saft Groupe S.A. (France), Toshiba Corporation (Japan), and Valence Technology, Inc. (U.S.). 

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