Navigant Research Names LG Chem and Samsung SDI Leading Manufacturers of Lithium Ion Batteries

The lithium ion market is expected to exceed $23 billion by 2026
thanks to the technology’s low cost, energy density, efficiency, and
safety

BOULDER, Colo.–(BUSINESS WIRE)–#Batteries–A new Leaderboard Report from Navigant
Research examines the strategy and execution of 10 lithium ion
(Li-ion) battery manufacturers, with LG Chem and Samsung SDI ranked as
the leading companies.

Rapid growth in markets that rely on Li-ion batteries has allowed
suppliers to develop economies of scale through major investments in new
manufacturing facilities, which are also driving down prices. With this,
the global landscape of Li-ion manufacturers is becoming increasingly
competitive as companies vie for market share, leveraging the
technology’s benefits of low cost, energy density, efficiency, and
safety. Click
to tweet: According to a new Leaderboard report from @NavigantRSRCH,
LG Chem and Samsung SDI are the leading manufacturers of Li-ion
batteries.

“Leaders in this market have clearly differentiated themselves from the
competition through exceptional product development and strong industry
relationships with project developers, utilities, financiers/investors,
and system component vendors,” says Ian McClenny, research analyst at
Navigant Research. “We believe that these Leaders are poised to
spearhead the charge for current and next-generation Li-ion batteries in
the coming years.”

Navigant Research expects the Li-ion industry to reach $23.1 billion by
2026. Market growth is likely to be spread primarily among the regions
of North America, Europe, and Asia Pacific, driven by regulatory changes
and incentives before prices come down enough to compete with retail
electricity rates, according to the report.

The report, Navigant
Research Leaderboard: Lithium Ion Batteries for Grid Storage,
examines the strategy and execution of 10 leading Li-ion battery
manufacturers that are active in the global market for Li-ion batteries
for grid storage. These players are rated on 12 criteria: vision; go-to
market strategy; partners; production strategy; technology; geographic
reach; sales, marketing, and distribution; product performance; product
quality and reliability; product portfolio; pricing; and staying power.
Using Navigant Research’s proprietary Leaderboard methodology, vendors
are profiled, rated, and ranked with the goal of providing industry
participants with an objective assessment of these companies’ relative
strengths and weaknesses in the global Li-ion batteries for grid storage
market. An Executive Summary of the report is available for free
download on the Navigant
Research website.

About Navigant Research

Navigant Research, the dedicated research arm of Navigant, provides
market research and benchmarking services for rapidly changing and often
highly regulated industries. In the energy sector, Navigant Research
focuses on in-depth analysis and reporting about global clean technology
markets. The team’s research methodology combines supply-side industry
analysis, end-user primary research and demand assessment, and deep
examination of technology trends to provide a comprehensive view of the
Energy Technologies, Utility Transformations, Transportation
Efficiencies, and Buildings Innovations sectors. Additional information
about Navigant Research can be found at www.navigantresearch.com.

About Navigant

Navigant Consulting, Inc. is a specialized, global professional services
firm that helps clients take control of their future. Navigant’s
professionals apply deep industry knowledge, substantive technical
expertise, and an enterprising approach to help clients build, manage
and/or protect their business interests. With a focus on markets and
clients facing transformational change and significant regulatory or
legal pressures, the firm primarily serves clients in the healthcare,
energy, and financial services industries. Across a range of advisory,
consulting, outsourcing, and technology/analytics services, Navigant’s
practitioners bring sharp insight that pinpoints opportunities and
delivers powerful results. More information about Navigant can be found
at navigant.com.

* The information contained in this press release concerning the
report, Navigant Research Leaderboard: Lithium Ion Batteries for
Grid Storage, is a summary and reflects Navigant Research’s current
expectations based on market data and trend analysis. Market predictions
and expectations are inherently uncertain and actual results may differ
materially from those contained in this press release or the report.
Please refer to the full report for a complete understanding of the
assumptions underlying the report’s conclusions and the methodologies
used to create the report. Neither Navigant Research nor Navigant
undertakes any obligation to update any of the information contained in
this press release or the report.

Contacts

Navigant Research
Lindsay Funicello-Paul, +1-781-270-8456
[email protected]