Their lithium-ion batteries are used by more than 600,000 electric vehicles worldwide. TianJin Lishen Battery Joint-Stock Co., Ltd. is a leading manufacturer of lithium-ion batteries, and through its robust research and development activities, holds more than 1,800 patents.
Due to the demand for inexpensive, secure batteries with a better energy density, the consumer electronics market for lithium-ion batteries is anticipated to rise significantly in the next years. In terms of regional penetration, the lithium-ion battery market is anticipated to be led by Asia Pacific.
As per the analysis by Expert Market Research, the global lithium-ion battery market is expected to grow at a CAGR of 10.8% in the forecast period of 2023-2028, owing to the increasing demand for electric vehicles. An advanced type of battery, a lithium-ion (Li-ion) battery makes use of lithium ions as a crucial part of its electrochemistry.
Thousands of cells may be combined to create a battery pack for an EV. In this piece, we highlight four companies that represent key players in this ecosystem: Ganfeng Lithium (OTCPK:GNENY): A leading Chinese lithium mining company that has evolved into refining and processing lithium, battery manufacturing, and recycling.
In terms of regional penetration, the lithium-ion battery market is anticipated to be led by Asia Pacific. Some of the biggest markets for electric vehicles are thought to be in China and Japan.
Livent (LTHM): A top-5 lithium producer from the US. Contemporary Amperex Technology Limited (CATL): A top-3 EV battery manufacturer from China. Ganfeng Lithium along with Albemarle (ALB), Sociedad Química y Minera de Chile (SQM), Tianqi Lithium, and Livent control more than 70% of the world's lithium supply.