What are the top 10 battery manufacturers in 2024?

Among the top 10 global battery manufacturers (power + energy storage) in 2024, six are Chinese companies: CATL, BYD, EVE Energy, CALB, Gotion High-Tech, and Sunwoda. Three South Korean companies—LG Energy Solution, Samsung SDI, and SK On—along with Japan’s Panasonic also made the list. Part 1. Breakdown of the Top 10 Battery Shipments in 2024

Which country is leading the global battery market in 2024?

CATL leads with 491GWh as China dominates 2024's 1.3TWh global battery shipments. See rankings, growth trends, and key players in power & energy storage.

Which companies are leading the electric vehicle battery market?

Companies such as CATL, LG Energy Solution, Panasonic, Samsung SDI, and BYD are primarily recognized for their dominance in the Electric Vehicle (EV) battery market. However, available information explicitly indicates their significant investments and expansion into “energy storage solutions” or “grid-scale storage”.

Why is China a global leader in battery storage?

This dominance is driven by rapid urbanization, aggressive renewable energy targets, and strong government incentives in countries like China, India, and South Korea. China, in particular, will remain a global leader, with strong government targets aiming for at least 40 GW of battery storage installed by the end of 2025.

Which companies are developing solid-state batteries?

Companies like QuantumScape, Solid Power, and Toyota are at the forefront of solid-state battery development, promising significant advancements in energy density, charging speed, and safety.

Why should you invest in battery storage?

The battery storage sector stands at the nexus of global energy transition, presenting a compelling investment opportunity driven by an accelerating shift to renewables, surging electricity demand from new industrial loads, and supportive policy frameworks worldwide.