LG Chem and Samsung SDI lead the lithium-ion grid storage market in terms of strategy and execution, according to a new “Leaderboard report” from Navigant Research.
Annissa Dehamma, principle research analyst with Navigant Research, said: “LG Chem and Samsung SDI, both based in South Korea, have market-leading businesses for the electric vehicle and consumer electronics markets, which has created a foundation allowing for economies of scale through manufacturing.
“Both companies have positioned themselves as global manufacturers and can offer consistently low prices for quality Li-ion cells.”
Although large, leading multinational players have emerged as market leaders, niche entrants are well-positioned to grow with the grid storage market, according to the report. Companies often specialise in one or more subchemistries of lithium-ion, which are better suited for certain applications on the grid, creating a diverse and competitive manufacturing landscape.
The report, Navigant Research Leaderboard Report: Li-Ion Grid Storage, examines the strategy and execution of 15 leading lithium-ion battery manufacturers that are active in the stationary energy storage market. An Executive Summary of the report is available for free download on the Navigant Research website.