The adaption of NCA batteries in the power tool market is growing steadily, increasing from 0.95GWh in 2016 to 171GWh in 2018. Taking into account that the power tool market consists entirely of cylindrical li-ion batteries, which is a perfect match for NCA chemistry system. We estimate that by 2020, the NCA production capacity will reach 2.44GWh, occupying more than 40% of market share. Currently the main suppliers of NCA battery manufacturer are Samsung SDI, LG Chem, Panasonic and Jiangsu Tenpower.
Tenpower is the first company in China to achieve mass production of cylindrical NCA battery cell. Since 2017, Tenpower’s products has already seen wide application in industries including micro-mobility, power tools, gardening tools etc. Tenpower has secured a high-quality stable supply of NCA materials through strategic partnership with the same suppliers as Samsung SDI, Sony etc.
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.