The top ten lithium-ion battery production equipment companies based on revenue for 2020 included five from China and three from South Korea, according to analyst firm QYResearch Korea.
China’s Wuxi Lead was the top vendor, while South Korea’s PNT ranked second place.
Yinghe Technology, CHR, Blue Key and Putailai of China ranked third, fourth, seventh and tenth, respectively.
South Korea’s CIS and Wonik PNE ranked fifth and sixth, respectively.
Germany’s Manz was ranked eighth, while Japan’s Hirano Tecseed ranked ninth.
QYResearch Korea noted that South Korean companies were ahead in technology levels compared to their counterparts in other countries.
Chinese companies were catching up fast however thanks to their large demand from their domestic market and their equipment’s cost competitiveness, the analyst firm said.
Companies that ranked high on the list offered coaters, which are used to produce cathode and anode of batteries.
These coaters make slurry out of materials and coat them on the plates of batteries.
The companies on the list also offered winders, slitters and grading kits.
QYResearch Korea said the global lithium-ion battery equipment market in 2020 was worth US$4.52 billion in total.
This will grow 20.4% per year on average to be worth US$15.93 billion in 2027, the analyst firm said in its forecast.
This growth is thanks to the increase in demand for electric vehicles and new battery factories being built in Asia, Europe, North America and other major regions, it added.