Top Companies in Cell to Pack Battery Industry

The cell to pack battery market size is projected to grow from USD 18.7 billion in 2023 to USD 79.0 billion by 2033, at a CAGR of 15.5% for the same period. The base year for the report is 2022, and the forecast period is from 2023 to 2033.

The cell to pack battery market is expected to witness growth due to an increase in demand for highly efficient high-energy-density batteries, rise in demand for light weight batteries, and a requirement for cost efficient batteries.

Major Cell to Pack Battery Market Companies include

• Contemporary Amperex Technology Co., Limited. (China),
• BYD Company Ltd. (China),
• LG Energy Solution. (South Korea),
• Tesla (US), XPENG INC. (China).

These companies have adopted expansion strategies; and undertaken collaborations, partnerships, and mergers & acquisitions to gain traction in the growing cell to pack battery market.

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Top Companies in Cell to Pack Battery Industry

Contemporary Amperex Technology Co., Limited. (China)

Contemporary Amperex Technology Co Limited. (CATL) is among the innovators of new energy technologies, dedicated to offering products and services for energy applications globally. The company focuses on developing and manufacturing lithium-ion batteries for new energy vehicles and storage systems. The player has been among the early birds in developing cell to pack battery technology. In June 2022, CATL launched the third generation of its cell to pack battery technology called "Qilin”. CATL is one of the major suppliers of lithium-ion batteries to established electric vehicle manufacturers that include Tesla (US), Ford Motor Company (US), Hyundai Motor Company (South Korea), and Mercedes Benz (Germany), among others. In August 2021, CATL has entered into a partnership with Hyundai MOBIS (South Korea) for the supply of CTP batteries in South Korea and the global market. Apart from this, in May 2022, CATL has also entered into a partnership with Solaris Bus & Coach sp. z o.o. (Poland) for the supply of LFP cell to pack batteries in the commercial segment vehicles. Such activities will enable upcoming revenue ventures for the company. Apart from this, CATL has its reach with 13 production bases across China and Europe. The company has five R&D plants, four set up in China and one in Munich (Germany). As of December 2021, the company comprised 49,295 employees around the globe.

BYD Company Ltd. (China)

BYD Company Ltd. is among the major electric vehicle manufacturing companies providing innovative technology for cars, buses, trucks, forklifts, and rail systems. BYD Company Ltd. specializes in manufacturing commercial electric vehicles and electric vehicle batteries. In March 2020, BYD Company Ltd. developed blade battery technology, which eliminates the use of modules in the battery. BYD Company Ltd. has equipped some of the in-house developed electric vehicle models with blade battery technology, including the Han EV model and the recently launched Tang EV. BYD Company Ltd. is expanding its presence in the neighboring Asia Pacific countries like India with blade battery equipped EV models like e6 and Atto 3. Besides this, BYD Company Ltd. showcased the blade battery technology usage in electric bus platforms at the IAA Transportation Event held in Germany in 2022. BYD Company Ltd. is also partnering with other EV OEMs to grow the market share of balde battery technology in the EV market. For instance, in June 2022, BYD Company Ltd. partnered with Tesla (US) to supply advanced battery technology. Thus, such developmental and expansion activities from BYD Company Ltd. would act as a catalyst for increasing its market share in the cell to pack battery market. The company has developed seven manufacturing plants in China. As of December 2021, BYD Company Ltd. has a workforce of nearly 288,200 employees globally.

LG Energy Solution. (South Korea)

In December 2020, LG Chem's battery business became a separate company named LG Energy Solution. The company majorly focuses on developing lithium-ion batteries for electric vehicles and supplies electric batteries to nearly 13 auto brands globally, including Tesla (US), General Motors (US), and other automakers. LG Energy Solution has stepped into offering the cell to pack battery to extend the driving range of electric vehicles with reduced operational costs. The player has developed the technology in the nickel pouch-type cells to produce lithium iron phosphate (LFP) batteries that use lithium iron phosphate as cathode material and a graphitic carbon electrode with a metallic backing as the anode. The company aims to raise the proportion of cells to 70% or more for products to be released between 2025 and 2026, with the reduction in weight and cost of the batteries. In November 2020, LG Energy Solution developed a module-less unibody battery pack with a focus in reducing the weight of the battery pack and increase the energy density by nearly 10%. In September 2021, at Korea Advanced Battery Conference (KABC), LG Energy Solution. announced the mass production of CTP batteries from 2025 onwards. Thus, LG Energy Solution can start selling these cell to pack batteries to their existing clients as well which would support the revenue generation for the company. LG Energy Solution has established manufacturing plants in Korea, the US, Poland, and China. As of December 2021, the company comprised a global employee base of 27,623 employees.

Tesla (US), XPENG INC. (China)

Tesla is among the Top Companies in Cell to Pack Battery Industry and is a leader in designing and producing electric vehicles, battery energy storage solutions, solar panels, and self-driving technologies. The company has established battery supply contracts with Contemporary Amperex Technology Co., Limited (CATL) (China), Panasonic Holdings Corporation (Japan), and LG Energy Solution (South Korea). Tesla has implemented Cell to Pack (CTP) battery technology in the Model 3 variant in the Chinese market and is expected to expand this technology to other models, including the Model Y, at a global level. This expansion will further solidify Tesla’s role in driving CTP battery adoption worldwide.

Related Reports:

Cell to Pack Battery Market by Form (Prismatic, Pouch, Cylindrical), Battery Type (LFP, NMC), Propulsion (BEV, PHEV), Technology (Blade, LiSER), Vehicle Type (Passenger Cars, Commercial Vehicles) and Region - Global Forecast to 2033

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