What is the lithium-ion battery manufacturing industry?

The lithium-ion battery manufacturing industry is centered around creating, developing, and marketing highly efficient, safe, and environmentally friendly energy storage systems.

Who makes lithium-ion batteries?

LG Chem in Poland and Contemporary Amperex Technology Co., Limited (CATL) in China also stood as global leaders that year for lithium-ion battery manufacturing, with matching production capacities of 24 gigawatt hours.

Who makes energy storage batteries?

Chinese battery companies BYD, CATL and EVE Energy are the three largest producers of energy storage batteries, especially the cheaper LFP batteries. This month Rolls-Royce signed a deal with CATL to help deploy the company’s batteries in the EU and the UK.

Which countries manufacture lithium-ion batteries?

The following countries have significant lithium-ion battery manufacturing capacity: Australia, Spain, Canada, Portugal, United States, Switzerland, Thailand, Finland, France, Belgium, Japan, Italy, Poland, World, Indonesia, Greece, Mexico, China, South Africa, Netherlands, Chile, and Korea. [Chart and data by the International Energy Agency].

How big is the lithium-ion battery market?

The lithium-ion battery market, valued at $54.4 billion in 2023, is experiencing rapid growth, with projections indicating a surge to $182.5 billion by 2030 and further expansion to $187.1 billion by 2032. This remarkable growth, at a compound annual growth rate (CAGR) of 14.2% to 20.3%, is fueled by several key factors.

What makes LG a key global player in the lithium-ion battery market?

Its unique “Blade Battery” and market dominance make it a key global player. LG Energy Solution, with extensive experience and a robust global network, is a key player in the lithium-ion battery market, focusing on electric vehicle, mobility, IT, and energy storage sectors.