Lithium-Ion Battery Market - Global Industry Analysis
Lithium-Ion Battery Market By Type (Li-NMC, LFP, LCO, LTO, LMO, and NCA), By Industry (Consumer Electronics, Automotive, Power, and Industrial), and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028
The global lithium-ion battery market was valued at USD 40.9 billion in 2021 and is projected to attain a value of USD 115.1 billion by 2028, growing at about 11.9% CAGR during the forecast period.
Description
Lithium-Ion Battery Market: Industry Perspective
The global lithium-ion battery market was valued at USD 40.9 billion in 2021 and is projected to attain a value of USD 115.1 billion by 2028, growing at about 11.9% CAGR during the forecast period. The report analyzes the lithium-ion battery market's drivers, restraints, and the impact it has on demand during the forecast period. Additionally, it will also help navigate and explore the arising opportunities in the lithium-ion battery market.
Lithium-Ion Battery Market: Overview
The lithium-ion battery is a rechargeable battery that utilizes lithium ions as a core component of electrochemistry. Lithium-ion batteries hold high energy density, low self-discharge, and a high extending lifetime with improved charging speed. Lithium-ion batteries find a range of applications in electronic consumer equipment like cell phones, iPods, and PDAs. However, it is further utilized in different sectors like aerospace, military, automatic, and other sectors. Lithium-ion batteries gained immense momentum in recent years due to the requirement for a constant power supply.
High adoption of consumer electronics coupled with increasing research and development initiatives by leading market players is likely to impact the growth trajectory of the global lithium-ion battery market positively over the forecast period. Additionally, lithium-ion batteries are light in weight and offer a high energy density. Thereby, it is adopted massively in electric vehicles.
The global market is projected to grow tremendously due to the ongoing advancements in technology and the high production rate of electric plug-in vehicles. GM, Tesla, and other automotive companies are concentrating on manufacturing more durable and long-range battery cells. Therefore, constant research and development activities are likely to create several lucrative growth opportunities in the global market during the forecast period.
Report Scope:
| Report Attribute | Details |
|---|---|
| Base Year | 2020 |
| Historic Years | 2016 - 2020 |
| Forecast Years | 2021 - 2028 |
| Segments Covered | By Product Type, By Application, and By End Use |
| Forecast Units | Value (USD Billion), and Volume (Units) |
| Quantitative Units | Revenue in USD million/billion and CAGR from 2021 to 2028 |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
| Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
| Number of Companies Covered | 10 companies with scope for including additional 15 companies upon request |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
| Customization Scope | Avail customized purchase options to meet your exact research needs. |
COVID-19 Impact:
The outbreak of the Covid-19 pandemic has significantly impacted the industry supply chain, in particular lithium-ion battery energy storage and renewable energy technologies systems. Companies manufacture different component systems in different areas; for example, the crucial components utilized in battery energy storage systems are majorly manufactured in the Asia Pacific region. Therefore, the outbreak of Covid-19 has significantly disrupted the companies' capabilities to transport elements like raw material and others from different regions, thereby limiting the production capabilities.
Lithium-Ion Battery Market: Growth Drivers
Low prices of LIB and high registration rate of EVs propel the global market growth
The subsequent decline in the prices of lithium-ion batteries and increase in the registration of electric vehicles globally is projected to expand the global lithium-ion battery market size exponentially during the forecast period. There has been a significant surge in the sale of electric vehicles in the last few years. Simultaneously, consumer preferences are rapidly changing. Besides this, leading initiatives by the government and big organizations to open more power stations will expand the scope of lithium-ion batteries.
The surging trend of mounting photovoltaic installations and establishing power plants is projected to grow the market in the forthcoming years. The expanding wind energy projects and off-grid installations in leading economies like Germany, China, India, and the US are further likely to propel the demand for lithium-ion batteries globally.
Lithium-Ion Battery Market: Restraints
Safety issues associated with the transportation & storage of spent batteries hamper the market growth.
Spent batteries comprise hazardous chemicals like heavy metals, mercury, lead, and acids. As a result, it is difficult to manage the growing number of spent batteries to avoid harm to people and properties. Additionally, they contain flammable material; therefore, these are required to store in water-tight containers. However, it also restrains the growth of the global lithium-ion battery market.
Lithium-Ion Battery Market: Opportunities
Increasing demand for EVs and HEVs to pave way for market expansion
The growing demand for hybrid electric vehicles and electric vehicles will create huge scope for the growth of the global lithium-ion battery market. The growing government regulations on vehicle emissions will offer an immense opportunity for the global market to grow indefinitely in the forthcoming years.
Lithium-Ion Battery Market: Challenges
Growing demand for other types of batteries creates hurdles for market growth
The demand for lead-acid, sodium nickel chloride, flow batteries, and lithium-air is growing massively. Therefore, it is likely to create challenges for the growth of the global lithium-ion battery market in the forthcoming years.
Lithium-Ion Battery Market: Segmentation
The global lithium-ion battery market can be segmented into type, industry, and region.
By industry, the market can be segmented into industrial, energy, solar system, automotive, consumer electronics, and others. The automotive segment is expected to be the fastest-growing segment in the global market due to the growing awareness among people regarding the advantages of battery-operated vehicles along with surging fossil fuel prices.
By type, the market can be segmented into lithium nickel manganese cobalt, lithium titanate, lithium manganese oxide, lithium nickel cobalt aluminum oxide, lithium iron phosphate, lithium cobalt oxide, and others. The lithium-ion phosphate product accounts for the largest share in the global market. The segment alone accounted for $12 billion in 2020. The product is much in demand due to the unique features offered by lithium-ion phosphates, like enhanced safety and a long lifespan of the product.
Recent Developments
- In the Batteries, European Partnership Association (BEPA) and the European Commission in June 2021 signed the Memorandum of Understanding (MoU) as a part of the lithium-ion battery investment project.
- Exide Industries, in September 2021, unveiled its plan to set up a multi-gigawatt lithium-ion cell manufacturing plant in India.
Lithium-Ion Battery Market: Regional Landscape
The Asia Pacific accounts for the largest share in the global lithium-ion battery market due to the growing dominance of the region in the automotive sector. Also, the growing awareness among people regarding the importance of eco-friendly vehicles is further likely to strengthen the growth of the regional market. Furthermore, the growing disposable income of people in the region, along with the high demand for electronic gadgets like smartphones and tablets, will also expand the industry scope in the forthcoming years.
Lithium-Ion Battery Market: Competitive Landscape
Some of the significant players in the global lithium-ion battery market include Contemporary Amperex Technology Co., Narada Power Source Co., Ltd., NEC Corporation, Panasonic Corporation, Shenzhen Huayu New Energy Technology Co., Ltd., Hitachi Chemical Co., Ltd., A123 Systems LLC, and GS Yuasa International Ltd.
The global lithium-ion battery market is segmented as follows-
By Type
- Lithium Nickel Manganese Cobalt (LI-NMC)
- Lithium Iron Phosphate (LFP)
- Lithium Cobalt Oxide (LCO)
- Lithium Titanate Oxide (LTO)
- Lithium Manganese Oxide (LMO)
- Lithium Nickel Cobalt Aluminum Oxide (NCA)
By Industry
- Consumer Electronics
- Automotive
- Aerospace
- Marine
- Medical
- Industrial
- Power
- Telecommunication
By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of the Middle East & Africa
Table Of Content
- Chapter 1. Introduction
- 1.1. Report description and scope
- 1.2. Research scope
- 1.3. Research methodology
- 1.3.1. Market research process
- 1.3.2. Market research methodology
- Chapter 2. Executive Summary
- 2.1. Global lithium-ion battery market, 2014 – 2022 (USD Million)
- 2.2. Global lithium-ion battery market : Snapshot
- Chapter 3. Lithium-Ion Battery – Market Dynamics
- 3.1. Introduction
- 3.2. Market drivers
- 3.2.1. Global lithium-ion battery market drivers: Impact analysis
- 3.2.2. Growing consumer electronics industry
- 3.3. Market restraints
- 3.3.1. Global lithium-ion battery market restraints: Impact analysis
- 3.4. Opportunities
- 3.4.1. Increasing use of new technologies in lithium ion batteries
- 3.5. Porter’s five forces analysis
- 3.5.1. Bargaining power of suppliers
- 3.5.2. Bargaining power of buyers
- 3.5.3. Threat from new entrants
- 3.5.4. Threat from new substitutes
- 3.5.5. Degree of competition
- 3.6. Market attractiveness analysis
- 3.6.1. Market attractiveness analysis, by power capacity segment
- 3.6.2. Market attractiveness analysis, by application segment
- 3.6.3. Market attractiveness analysis, by regional segment
- Chapter 4. Global Lithium-ion battery Market – Competitive Landscape
- 4.1. Company market share analysis
- 4.1.1. Global lithium-ion battery market: company market share, 2016
- 4.2. Strategic Development
- 4.2.1. Acquisitions & Mergers
- 4.2.2. New Power capacity Launch
- 4.2.3. Agreements, Partnerships, Collaborations and Joint Ventures
- 4.2.4. Research and Development, Power capacity and Regional Expansion
- 4.1. Company market share analysis
- Chapter 5. Global Lithium-Ion Battery Market – Power Capacity Segment Analysis
- 5.1. Global lithium-ion battery market: power capacity overview
- 5.1.1. Global lithium-ion battery market revenue share, by power capacity, 2016 and 2022
- 5.2. 5–25 Wh
- 5.2.1. Global lithium-ion battery market for 5–25 Wh, 2014 – 2022 (USD Million)
- 5.3. 48-95 Wh
- 5.3.1. Global lithium-ion battery market for 48-95 Wh, 2014 – 2022 (USD Million)
- 5.4. 18–28 KWh
- 5.4.1. Global lithium-ion battery market for 18–28 KWh, 2014 – 2022 (USD Million)
- 5.5. 100–250 KWh
- 5.5.1. Global lithium-ion battery market for 100–250 KWh, 2014 – 2022 (USD Million)
- 5.6. More than 300 KWh
- 5.6.1. Global lithium-ion battery market for More than 300 KWh, 2014 – 2022 (USD Million)
- 5.1. Global lithium-ion battery market: power capacity overview
- Chapter 6. Global Lithium-ion battery Market – Application Segment Analysis
- 6.1. Global lithium-ion battery market: Application overview
- 6.1.1. Global lithium-ion battery market revenue share, by application, 2016 and 2022
- 6.2. Consumer electronics
- 6.2.1. Global lithium-ion battery market for consumer electronics, 2014 – 2022 (USD Million)
- 6.3. Automotive
- 6.3.1. Global lithium-ion battery market for automotive, 2014 – 2022(USD Million)
- 6.4. Aerospace and Defense
- 6.4.1. Global lithium-ion battery market for aerospace and defense, 2014 – 2022(USD Million)
- 6.5. Industrial
- 6.5.1. Global lithium-ion battery market for industrial, 2014 – 2022(USD Million)
- 6.6. Others
- 6.6.1. Global lithium-ion battery market for others application, 2016 - 2022(USD Million)
- 6.1. Global lithium-ion battery market: Application overview
- Chapter 7. Global Lithium-ion battery Market – Regional Segment Analysis
- 7.1. Global lithium-ion battery market: Regional overview
- 7.1.1. Global lithium-ion battery market revenue share, by region, 2016 and 2022
- 7.2. North America
- 7.2.1. North America lithium-ion battery market revenue, by power capacity , 2014 – 2022 (USD Million)
- 7.2.2. North America lithium-ion battery market revenue, by application, 2014 – 2022 (USD Million)
- 7.2.3. U.S.
- 7.2.3.1. U.S. lithium-ion battery market revenue, by power capacity , 2014 – 2022(USD Million)
- 7.2.3.2. U.S. lithium-ion battery market revenue, by application, 2014 – 2022(USD Million)
- 7.3. Europe
- 7.3.1. Europe lithium-ion battery market revenue, by power capacity , 2014 – 2022 (USD Million)
- 7.3.2. Europe lithium-ion battery market revenue, by application, 2014 – 2022 (USD Million)
- 7.3.3. Germany
- 7.3.3.1. Germany lithium-ion battery market revenue, by power capacity , 2014 – 2022 (USD Million)
- 7.3.3.2. Germany lithium-ion battery market revenue, by application, 2014 – 2022 (USD Million)
- 7.3.4. France
- 7.3.4.1. France lithium-ion battery market revenue, by power capacity , 2014 – 2022 (USD Million)
- 7.3.4.2. France lithium-ion battery market revenue, by application, 2014 – 2022 (USD Million)
- 7.3.5. UK
- 7.3.5.1. UK lithium-ion battery market revenue, by power capacity , 2014 – 2022(USD Million)
- 7.3.5.2. UK lithium-ion battery market revenue, by application, 2014 – 2022(USD Million)
- 7.4. Asia Pacific
- 7.4.1. Asia Pacific lithium-ion battery market revenue, by power capacity , 2014 – 2022, (USD Million)
- 7.4.2. Asia Pacific lithium-ion battery market revenue, by application, 2014 – 2022, (USD Million)
- 7.4.3. China
- 7.4.3.1. China lithium-ion battery market revenue, by power capacity , 2014 – 2022(USD Million)
- 7.4.3.2. China lithium-ion battery market revenue, by application, 2014 – 2022(USD Million)
- 7.4.4. Japan
- 7.4.4.1. Japan lithium-ion battery market revenue, by power capacity , 2014 – 2022(USD Million)
- 7.4.4.2. Japan lithium-ion battery market revenue, by application, 2014 – 2022(USD Million)
- 7.4.5. India
- 7.4.5.1. India lithium-ion battery market revenue, by power capacity , 2014 – 2022(USD Million)
- 7.4.5.2. India lithium-ion battery market revenue, by application, 2014 – 2022(USD Million)
- 7.5. Latin America
- 7.5.1. Latin America lithium-ion battery market revenue, by power capacity , 2014 – 2022(USD Million)
- 7.5.2. Latin America lithium-ion battery market revenue, by application, 2014 – 2022(USD Million)
- 7.5.3. Brazil
- 7.5.3.1. Brazil lithium-ion battery market revenue, by power capacity, 2014 – 2022(USD Million)
- 7.5.3.2. Brazil lithium-ion battery market revenue, by application, 2014 – 2022 (USD Million)
- 7.6. Middle East and Africa
- 7.6.1. Middle East and Africa lithium-ion battery market revenue, by power capacity, 2014 – 2022 (USD Million)
- 7.6.2. Middle East and Africa lithium-ion battery market revenue, by application, 2014 – 2022(USD Million)
- 7.1. Global lithium-ion battery market: Regional overview
- Chapter 8. Company Profile
- 8.1. Panasonic Corporation
- 8.1.1. Overview
- 8.1.2. Financials
- 8.1.3. Power capacity portfolio
- 8.1.4. Business strategy
- 8.1.5. Recent developments
- 8.2. Hitachi Chemical Co. Ltd.
- 8.2.1. Overview
- 8.2.2. Financials
- 8.2.3. Power capacity portfolio
- 8.2.4. Business strategy
- 8.2.5. Recent developments
- 8.3. BAK Group
- 8.3.1. Overview
- 8.3.2. Financials
- 8.3.3. Power capacity portfolio
- 8.3.4. Business strategy
- 8.3.5. Recent developments
- 8.4. Johnson Controls, Inc.
- 8.4.1. Overview
- 8.4.2. Financials
- 8.4.3. Power capacity portfolio
- 8.4.4. Business strategy
- 8.4.5. Recent developments
- 8.5. Samsung SDI Co. Ltd.
- 8.5.1. Overview
- 8.5.2. Financials
- 8.5.3. Power capacity portfolio
- 8.5.4. Business strategy
- 8.5.5. Recent developments
- 8.6. LG Chem Power, Inc.
- 8.6.1. Overview
- 8.6.2. Financials
- 8.6.3. Power capacity portfolio
- 8.6.4. Business strategy
- 8.6.5. Recent developments
- 8.7. Toshiba Corporation.
- 8.7.1. Overview
- 8.7.2. Financials
- 8.7.3. Power capacity portfolio
- 8.7.4. Business strategy
- 8.7.5. Recent developments
- 8.8. Saft Groupe SA
- 8.8.1. Overview
- 8.8.2. Financials
- 8.8.3. Power capacity portfolio
- 8.8.4. Business strategy
- 8.8.5. Recent developments
- 8.9. GS Yuasa Corporation
- 8.9.1. Overview
- 8.9.2. Financials
- 8.9.3. Power capacity portfolio
- 8.9.4. Business strategy
- 8.9.5. Recent developments
- 8.10. Automotive Energy Supply Corporation (AESC)
- 8.10.1. Overview
- 8.10.2. Financials
- 8.10.3. Power capacity portfolio
- 8.10.4. Business strategy
- 8.10.5. Recent developments
- 8.11. BYD Company Ltd.
- 8.11.1. Overview
- 8.11.2. Financials
- 8.11.3. Power capacity portfolio
- 8.11.4. Business strategy
- 8.11.5. Recent developments
- 8.12. Valence Technology, Inc.
- 8.12.1. Overview
- 8.12.2. Financials
- 8.12.3. Power capacity portfolio
- 8.12.4. Business strategy
- 8.12.5. Recent developments
- 8.1. Panasonic Corporation
Table Of Figures
List of Figures
1. Market research process
2. Market research methodology
3. Global lithium-ion battery market revenue, 2014 – 2022 (USD Million)
4. Porter’s five forces analysis
5. Lithium-ion battery: market attractiveness analysis, by power capacity segment
6. Lithium-ion battery: Market attractiveness analysis, by application segment
7. Lithium-ion battery: Market attractiveness analysis, by regional segment
8. Company market share analysis, 2016
9. Global lithium-ion battery market revenue share by power capacity , 2016 and 2022
10. Global lithium-ion battery market for 5–25 Wh, 2014 – 2022 (USD Million)
11. Global lithium-ion battery market for 48-95 Wh, 2014 – 2022 (USD Million)
12. Global lithium-ion battery market for 18–28 KWh, 2014 – 2022 (USD Million)
13. Global lithium-ion battery market for 100–250 KWh, 2014 – 2022 (USD Million)
14. Global lithium-ion battery market for more than 300 KWh, 2014 – 2022 (USD Million)
15. Global lithium-ion battery market revenue share by application, 2016 and 2022
16. Global lithium-ion battery market for consumer electronics, 2014 – 2022 (USD Million)
17. Global lithium-ion battery market for automotive, 2014 – 2022 (USD Million)
18. Global lithium-ion battery market for aerospace and defense, 2014 – 2022 (USD Million)
19. Global lithium-ion battery market for industrial, 2014 – 2022 (USD Million)
20. Global lithium-ion battery market for others application, 2016 - 2022(USD Million)
Table Of Tables
List of Tables
1. Lithium-ion battery market: Market snapshot
2. Drivers of global lithium-ion battery market: Impact analysis
3. Restraints of global lithium-ion battery market: Impact analysis
4. North America lithium-ion battery market revenue, by power capacity , 2014 – 2022(USD Million)
5. North America lithium-ion battery market revenue, by application, 2014 – 2022(USD Million)
6. U.S. lithium-ion battery market revenue, by power capacity , 2014 – 2022(USD Million)
7. U.S. lithium-ion battery market revenue, by application, 2014 – 2022(USD Million)
8. Europe lithium-ion battery market revenue, by power capacity , 2014 – 2022(USD Million)
9. Europe lithium-ion battery market revenue, by application, 2014 – 2022(USD Million)
10. Germany lithium-ion battery market revenue, by power capacity , 2014 – 2022(USD Million)
11. Germany lithium-ion battery market revenue, by application, 2014 – 2022(USD Million)
12. France lithium-ion battery market revenue, by power capacity , 2014 – 2022(USD Million)
13. France lithium-ion battery market revenue, by application, 2014 – 2022(USD Million)
14. UK lithium-ion battery market revenue, by power capacity , 2014 – 2022(USD Million)
15. UK lithium-ion battery market revenue, by application, 2014 – 2022(USD Million)
16. Asia Pacific lithium-ion battery market revenue, by power capacity , 2014 – 2022(USD Million)
17. Asia Pacific lithium-ion battery market revenue, by application, 2014 – 2022(USD Million)
18. China lithium-ion battery market revenue, by power capacity 2014 – 2022(USD Million)
19. China lithium-ion battery market revenue, by application 2014 – 2022(USD Million)
20. Japan lithium-ion battery market revenue, by power capacity 2014 – 2022(USD Million)
21. Japan lithium-ion battery market revenue, by application, 2014 – 2022(USD Million)
22. India lithium-ion battery market revenue, by power capacity 2014 – 2022(USD Million)
23. India lithium-ion battery market revenue, by application, 2014 – 2022(USD Million)
24. Latin America lithium-ion battery market revenue, by power capacity , 2014 – 2022(USD Million)
25. Latin America lithium-ion battery market revenue, by application, 2014 – 2022(USD Million)
26. Brazil lithium-ion battery market revenue, by power capacity , 2014 – 2022(USD Million)
27. Brazil lithium-ion battery market revenue, by application, 2014 – 2022(USD Million)
28. Middle East and Africa lithium-ion battery market revenue, by power capacity , 2014 – 2022(USD Million)
29. Middle East and Africa lithium-ion battery market revenue, by application, 2014 – 2022(USD Million)
Methodology
This report is based on in-depth qualitative and quantitative analyses of the global Lithium-Ion Battery market. Zion Research has collected and analyzed key data belong to the global Lithium-Ion Battery market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.
The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.
Various parameters have been taken into account, while estimating market size. The revenue generated by the leading industry participants in from the sales of Lithium-Ion Battery across the world has been calculated through primary and secondary research.
Zion Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc.
For this study, Zion Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in validation of findings from secondary research and to understand key trends in the Lithium-Ion Battery industry. Primary research makes up the major source of data collection and validation.
Primary Research
We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:
- Provides firsthand information on market size, market trends, growth trends, competitive landscape, outlook, etc.
- Helps in validating and strengthening the secondary research findings
- Further, develops the analysis team’s expertise and market understanding
- Primary research involves e-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies
Participants who typically participate in such a process include, but are not limited to:
- Industry participants: CEOs, VPs, marketing/product managers, market intelligence managers and national sales managers
- Purchasing managers, technical personnel, distributors and resellers
- Outside experts: Investment bankers, valuation experts and research analysts specializing in specific markets
Key opinion leaders specializing in different areas corresponding to different industry verticals
Secondary Research
Secondary research sources that are typically referred to include, but are not limited to:
- Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
- IDC and other relevant magazines
- Internal and external proprietary databases, and relevant patent and regulatory databases
- National government documents, statistical databases and market reports
News articles, press releases and webcasts specific to companies operating in the market
Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Lithium-Ion Battery market.
Models
Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:
- Demographic data: Population split by segments
- Macroeconomic indicators: GDP, PPP, Per Capita Income, etc.
- Industry indicators: Expenditure, technology stage and infrastructure, sector growth and facilities
- Data is then cross-checked by an expert panel.
Free Analysis
A lithium-ion battery or Li-ion battery is a rechargeable battery wherein lithium ions move from the cathode to the anode during discharge and back when charging. Li-ion batteries use an intercalated lithium compound as one electrode material, compared to the metallic lithium used in a non-rechargeable lithium battery. Lithium-ion batteries are mostly used for consumer or home electronics. They are one of the most popular types of rechargeable batteries for portable electronics, with a tiny memory effect, high energy density, and low self-discharge. LIBs are also growing in popularity for military, battery electric vehicle and aerospace applications.
The increase in demand for electric vehicle and smart devices and other consumer electronics are anticipated to boost the lithium-ion battery market over the forecast period. Strict Government regulations to control increasing pollution are likely to trigger the market for a lithium-ion battery. However, fluctuating price of lithium-ion batteries may hamper the market. Nonetheless, increasing use of new technologies in lithium ion batteries is likely to provide lucrative growth opportunities in the forecast period.
On the basis of type, the lithium ion battery market segmented into lithium nickel manganese cobalt (LI-NMC), lithium iron phosphate (LFP), lithium cobalt oxide (LCO), lithium titanate oxide (LTO) lithium manganese oxide (LMO), and lithium & nickel cobalt aluminum oxide (NCA). Lithium nickel manganese cobalt (LI-NMC) is one of leading segment of lithium-ion battery. This type of batteries is used in application areas like e-bikes, power tools, medical equipment, and other electric power trains. LFP battery is also called Lithium iron phosphate (LiFePO4) battery. Based on power capacity segment, lithium-ion battery market has been segmented into 5–25 Wh, 48-95 Wh, 18–28 KWh, 100–250 KWh and More than 300 KWh. Low power lithium-ion battery (5-25 Wh) segment is one of the leading segments of lithium-ion battery market and accounted for over 32% of the total market in 2016. 18-28 KWh segment is another key outlet of the market and expected to exhibit significant growth within the forecast period.
Some of the key applications of the lithium-ion battery include automotive, aerospace and defense, consumer electronics, industrial and others. Consumer electronics application segment held the largest market share for the lithium-ion battery in 2016. This segment is expected to continue its dominance in the global market throughout the forecast period due to growing demand for low power capacity lithium-ion batteries to be used in smartphones and tablet. It is followed by automotive and industrial segments.
Geographically, Asia Pacific is expected to lead the market and emerge as a fastest growing region in the forecast period due to the rapid growth of the consumer electronics and automotive industry in China, Japan and India. North America is one of the largest markets for lithium-ion battery in 2016. Europe is expected to grow at a significant rate due to the surging demand for lithium-ion battery from the automotive industry.
Some of the key players for global lithium-ion battery include Panasonic Corporation, Hitachi Chemical Co. Ltd., BAK Group, Johnson Controls, Inc., Samsung SDI Co. Ltd., LG Chem Power, Inc., Toshiba Corporation, GS Yuasa Corporation, BYD Company Ltd., and Valence Technology, Inc. among others.
Choose License Type
FrequentlyAsked Questions
The subsequent decline in the prices of lithium-ion batteries and increase in the registration of electric vehicles globally is projected to expand the market size exponentially during the forecast period. The surging trend of mounting photovoltaic installations and establishing power plants is projected to grow the market in the forthcoming years.
According to Zion market research report, the global Lithium-Ion Battery market, which was estimated at 50 (USD Billion) in 2019 and is predicted to accrue earnings worth 90 (USD Billion) by 2026, is set to record a CAGR of nearly 13.70% over 2020-2026.
Asia Pacific accounts for the largest share in the global lithium-ion battery market due to the growing dominance of the region in the automotive sector. Also, the growing awareness among people regarding the importance of eco-friendly vehicles is further likely to strengthen the growth of the regional market.
RelatedNews
Office Address
Contact Us
Zion Market Research
Tel: +1 (302) 444-0166
USA/Canada Toll Free No.+1 (855) 465-4651
Asia Pacific Office
3rd Floor,
Mrunal Paradise, Opp Maharaja Hotel,
Pimple Gurav, Pune 411061,
Maharashtra, India
Phone No +91 7768 006 007, +91 7768 006 008
Contact #
US OFFICE NO +1 (302) 444-0166
US/CAN TOLL FREE +1 (855) 465-4651
Email: sales@zionmarketresearch.com
We Are On Social
Industry Press Release
We Accept
We have secured system to process your transaction.
How it Works?
Our Company
Business Hours
Our support available to help you 24 hours a day, five days a week.
Monday - Friday: 9AM - 6PM
Saturday - Sunday: Closed