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Korean Firms Dominate Global Secondary Battery Market
Global Dominance
Korean Firms Dominate Global Secondary Battery Market
  • By matthew
  • October 21, 2013, 03:18
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Several types of secondary batteries from Samsung.
Several types of secondary batteries from Samsung.

 

Korean companies are expanding their presence in the global secondary battery market. 

According to data unveiled on October 20 by the Japanese market researcher B3, Samsung SDI’s share of the global secondary battery market was estimated to be 28 percent as of the end of June this year, up 26 percent from a year earlier. 

LG Chem obtained 17.5 percent market share and become the second-largest player in the global market for the first time, but the market share remained unchanged from last year. 

Japan’s Panasonic Corporation, which was the second-largest player last year, stepped down to 3rd place, with its market share sliding to 16.1 percent in the first half of the year from 18.7 percent a year earlier.

B3 forecast that Samsung SDI would maintain its top spot this year with a 27.8 percent market share, followed by LG Chem with a 17.6 percent one and Panasonic with 15.8 percent.

South Korean companies jumped into the secondary battery market in 2000 as part of an effort to find new revenue sources.

Samsung SDI emerged as the No. 1 secondary battery maker in 2010 with a 20 percent market share.

Secondary batteries are commonly used for portable consumer devices, hybrid electric vehicles, and electric vehicles.