To Maintain Market Leadership
The energy storage system (ESS) market is enjoying a massive uptick. LG Energy Solution and Samsung SDI, which have dominated the ESS market, are moving to maintain their competitive edge based on differentiated technology.
According to Statista, a German market and consumer data company, global ESS installations are expected to reach 747,012 GWh by 2030. The figure represents 2,258 times the cumulative installed capacity until 2013 (329 GWh). It is 766 times larger than 22,949 GWh until 2020.
Korea is the first country where ESSs began to be installed thanks to the government’s solar power generation policy. This helped Korean companies stand out in this market.
LG Energy Solution is expanding its ESS business, going beyond the stage of simply supplying batteries for ESSs to offer integrated services from the planning stage to design, installation, maintenance and follow-up management. Samsung SDI is partnering with companies that have worked on projects together to improve its competitiveness in large-scale ESS projects.
Both companies are also pumping up their efforts to improve quality. LG Energy Solution’s ESS battery TR-1300 is a product with increased energy density and space efficiency per unit area. A technology that blocks fire from spreading to neighboring products has been applied. LG Energy Solutions is also promoting the application of ESSs for lithium iron phosphate (LFP) batteries and securing competitiveness based on small-sized and long-life battery technology.
Samsung SDI is considering mounting high-nickel ternary batteries classified as premium products, in ESSs. Batteries using high-nickel cathode materials have low cost competitiveness compared to LFP, but are highly evaluated for their high quality. In addition to improving product quality, Samsung SDI plans to target the global market through its battery brand ‘PRiMX.’