Market Share of Automotive Battery Industry
The automotive battery market is consolidated. A few prominent companies include Panasonic Corporation, Exide Technologies, Clarios, GS Yuasa Corporation, Samsung SDI Co. Ltd, and LG Chem Ltd. Several companies in the market are focusing on improving their products and service portfolios to widen their customer base. Some other key players aim to expand their presence in the market through product and service launches, offerings expansion, mergers, and collaborations with other companies. For instance, in March 2023, the United States and Japan reached an agreement regarding the trade of critical minerals used for EV batteries to secure the supplies of battery materials.
In March 2023, Li-Cycle Holdings Corp. signed a definitive agreement for a global lithium-ion battery recycling partnership with the KION Group and announced plans to develop a new lithium-ion battery recycling facility in France.
In March 2023, Morrow Batteries (Morrow) invested EUR 20 million in the production of Lithium iron phosphate (LFP) battery cells in South Korea.
Automotive Battery Market Leaders
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Panasonic Corporation
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Exide Technologies
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GS Yuasa Corporation
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Samsung SDI Co. Ltd.
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Clarios
*Disclaimer: Major Players sorted in no particular order
