March 6, 2018 — According to a new “Leaderboard Report” from Navigant Research, LG Chem and Samsung SDI are the leading manufacturers of Li-ion batteries.

The report, “Navigant Research Leaderboard: Lithium Ion Batteries for Grid Storage,” examines the strategy and execution of 10 lithium ion (Li-ion) battery manufacturers

The manufacturers are rated on 12 criteria, including production strategy, technology, sales, product performance, product quality, etc.

“Leaders in this market have clearly differentiated themselves from the competition through exceptional product development and strong industry relationships with project developers, utilities, financiers/investors, and system component vendors,” said Ian McClenny, research analyst at Navigant Research. “We believe that these leaders are poised to spearhead the charge for current and next-generation Li-ion batteries in the coming years.”

Navigant Research expects the Li-ion industry to reach $23.1 billion by 2026. Market growth is likely to be spread among North America, Europe and Asia Pacific, driven by regulatory changes and incentives before prices come down enough to compete with retail electricity rates, according to the report.