Lithium-ion Battery Market

 Lithium-ion Battery Market Outlook- 2027

The global lithium-ion battery market was valued $36.7 billion in 2019, and is projected to hit $129.3 billion by 2027, at a CAGR of 18.0% from 2020 to 2027. A lithium-ion (Li-ion) battery is a rechargeable battery, which utilizes lithium ions as the essentialcomponents of its electrochemistry. Lithium-ion battery find its major application in laptops, PDAs, cell phones, and iPods.

The lithium-ion battery market growth is driven by surgein need for smartphones and other electronics devices and increase in electric vehicles are some of the key factors that significantly drive the growth of the global lithium-ion battery market. Implementation of stringent government regulations to control increasing pollution levels is further expected to augment the market growth. However, high price of lithium-ion batteries is anticipated to restrain the market growth. On the contrary, higher energy efficiency requirements in technologically updated consumer gadgets are expected to provide expanding lithium-ion batteries market opportunityto the key players.

Various components such as cathode, anode, electrolytic solution, and others (foils, binders, and separators) are covered within the scope of the report.The cathode segment was the highest contributor to the market. This is attributed to the fact that cathode is widely used in the manufacturing of lithium-ion batteries. In addition, it is used to build positive electrodes for battery cells. Cathode materials, such as lithium cobalt oxide, lithium iron phosphate, lithium ion manganese oxide battery, and lithium nickel manganese cobalt oxide (are used in manufacturing of lithium-ion batteries. 

Depending on type of cathode material used, the type of lithium-ion batteries can vary. In addition, the demand for cathode materials is expected to increase significantly, owing to surge in demand for lithium-ion batteries across different industry verticals. The global lithium-ion battery market is segmented into various end-use industries, including electrical & electronics, automotive, and industrial, andothers. Other segment includes medical, military, and textile industries. The electrical & electronics segment registered the highest contributor growth in the market. Lithium-ion batteries in electronics are primarily used in smartphones & tablets/PCs, UPS, and few other types of devices, owing to longer service life and high energy density of these batteries. 

The electrical & electronics end-use industry is further segmented into smartphones, tablet/PC, UPS, and others. Among all electronic devices, the smartphones & tablets/PCs segment dominated the market in 2019, accounting for around 54% of the overall revenue.The automotive end-use segment is subsegmented into cars, buses, & trucks;scooters & bikes, and trains & aircraft. Cranes & forklift, mining equipment, and smart grid & renewable energy storage are considered under industrial end-use segment.

Region wise, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA. The North America lithium-ion battery market share is predicted to grow duringthe projected period, owing to increase in product use in the manufacturing of electric and hybrid vehicles. Moreover, rise in sales of electronic products in the North America region is anticipated to boost the growth of the regional market during the forecast period.

Asia-Pacific grows at a significant rate in the lithium-ion battery market anlaysis. This is attributed to the fact that China is expected to lead in the adoption of lithium-ion batteries to control increasing pollution in its cities. The Chinese Government further focuses on hybrid vehicles with pure electric drives. Furthermore, electrification of delivery vehicles and pickups is expected to raise the demand for these batteries. Major automakers in the commercial vehicle segment focus on hybrid drive systems across different model ranges. Therefore, the growth of the electric vehicles/plug-in hybrid vehicles is anticipated to eventually drive the market for lithium-ion batteries.

The global lithium-ion battery market is highly fragmented with the presence of large number of domestic players that occupy around 60% market share. Among the different market players present, Panasonic Corporation dominated in 2017. 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.

Some of the key players operating in the global lithium-ion battery industry include Automotive Energy Supply Corporation, Panasonic Corporation, Samsung SDI Co. Ltd., LG Chem Power (LGCPI), LITEC Co., Ltd., A123 Systems, LLC., Toshiba Corporation, Hitachi Chemical Co., Ltd., China BAK Battery Co. Ltd., and GS Yuasa International Ltd. 

Key benefits for stakeholders

• The report provides extensive qualitative and quantitative analyses of the current lithium-ion battery market trends and future estimations of the lithium-ion battery market size from 2019 to 2027 to determine the prevailing opportunities.

• Comprehensive analysis of factors that drive and restrict the growth of the market is provided.

• Estimations and forecast are based on factors impacting the market growth, in terms of both value and volume.

• Profiles of leading players operating in the global lithium-ion battery market has been provided, and this helps in understanding the competitive scenario globally.

• The report provides extensive qualitative insights on the significant segments and regions exhibiting favorable market growth.

• The global lithium-ion battery market forecast is done from 2020-2027.

 Lithium-ion Battery Market Report Highlights