Lithium-Ion Battery Market Overview:
The Global Lithium-Ion Battery Market size is expected reach $46.21 billion by 2022, with a CAGR of 10.8% during the forecast period (2016-2022). Lithium-ion (Li-ion) batteries are rechargeable batteries with high energy density and are mainly used in portable equipment. The market for these batteries is expected to witness a significant growth owing to their increasing use in smartphones, tablets/PCs, digital cameras, and power tools. Moreover, the demand for Li-ion batteries in the automobile industry is expected to increase with the increasing demand for electric vehicles. These batteries have gained popularity among the automobile manufacturers as they offer an alternative to nickelmetal batteries used in electric vehicles, due to their small size and light weight.
The lithium-ion battery industry is highly fragmented with the presence of large number of domestic players that occupy around 60% market share of the overall figure. Among the different market players present, Panasonic Corporation dominated in 2015 while contributing 15.6% to the global share. However, the market share of Panasonic Corporation is expected to decrease in the coming years due to the intensifying competition among prominent players to acquire major portion of the market.
The global lithium-ion battery market encompasses the various material types and industry verticals present in this segment. The material type segment namely cathode, anode, electrolytic solution, and others (foils, binders, and separators) are covered within the scope of the report. The industry verticals include sectors such as electronic, automotive, and industrial, with applications in the medical, military, and textile industries. Based on geography, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA.
Global Lithium-ion Battery Market Share by Industry Vertical, 2015 & 2022
The market by industry verticals is further segmented into electronics, automotive, industrial, and others (medical, military and textile). Currently, electronics is the highest revenue-generating industry vertical for this market owing to increase in adoption of lithium-ion batteries in smartphones, tablets, laptops, and personal computers. However, automotive segment is expected to be the most lucrative industry owing to rise in demand for electric vehicles and hybrid vehicles across countries such as China, U.S., and Japan.
Global Lithium-ion Battery Market Scenario
There are substantial elements that hold scope for the global lithium-ion battery market growth. At present, the market is in its nascent stage. However, its contribution to the global industrial scenario is estimated to increase significantly in the years to come. The high purchase price creates a major limitation for the consumers to adopt lithium battery into their devices or systems. However, recent innovations, which provide for high-efficiency and longer power back-ups in smartphones/ tablets/PCs enable this technology to reach a wider spectrum of audiences. Numerous players are stepping in the market with their innovative products. Emerging technologies, such as flexible batteries and aluminum-ion batteries, are expected to increase the competition in the years to come.
Top Winning Strategies in the Global Lithium-Ion Battery Market (2013-2016)
The key strategies, as tracked from the recent activities of the leading companies in this industry, include product launches, acquisitions, partnerships, and agreements. The lithium-ion battery industry witnesses most players adopting the product launch strategy as a method to increase their outreach. Moreover, acquisitions, agreements, and partnerships are some of the prominent business strategies adopted by manufacturers and vendors to maintain their competitive edge in the market.
- A comprehensive analysis of the current and future trends in the global lithium-ion battery market has been provided in this report
- The report provides an in-depth analysis of the market to identify the lucrative investment pockets
- The report identifies the key drivers, opportunities, and restraints prevailing in the current scenario or are most likely to shape the future of this market. A balanced evaluation helps derive an impact analysis of these factors throughout the forecast period
- Porter’s Five Forces analysis highlights the potency of buyers and suppliers participating in this market. This would offer a competitive advantage to stakeholders to make profit-oriented business decisions and to help strengthen their supplier and buyer network.
- SWOT analysis of the topmost market players highlight their essential strengths and weaknesses to highlight the potential opportunities within the market.
Lithium-Ion Battery Market Segmentation
The market is segmented on the basis of material type, industry vertical, and geography.
Market By Material Type
- Electrolytic solution
- Others (foils, binders and separators)
Market By Industry Vertical
- Smartphones, tablet/PCs
- Others (games, gardening tools and drilling)
- Cars, busses and trucks
- Scooters and bikes
- Train and aircraft
- Cranes and forklift
- Mining equipment
- Smart Grid and renewable energy storage
- Others (medical, military and textile)
Market By Geography
- North America