Taking a global perspective, the top 4 suppliers of lithium batteries are Samsung SDI, LG Chem, Murata, and Tenpower, accounts for 84% of the total market in 2018. Tenpower accounts for 9.76% of the total market. Tenpower leads the top five manufacturers in growth, increasing its market share from 6.52% to 9.76%, clinching 708.9MWh in 2018.
Tenpower’s major customers in the power tool industry includes Bosch, Stanley Black & Decker, Techtronics Industries etc. Power tools, due to its adverse working conditions, have high requirements for its battery cells, especially in criteria such as thermal tolerance, vibration adaptation and fast charging. Power tool battery cells have proven to be a great challenge for most battery cell manufacturer. Tenpower’s experience and know-how in the power tool battery manufacturing can be easily translated into future success in EV markets.