Report Code: A01071 | Pages: 319 | Apr 2020 | 113719 Views | ||
Author(s) : Ayushi C , Eswara P | Tables: 183 | Charts: 69 |
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Request Now !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
Aspects | Details |
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By Component |
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By End Use Industry |
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By Region |
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Key Market Players | PANASONIC CORPORATION, WANXIANG GROUP CORPORATION, TOSHIBA CORPORATION, LG CHEM, HITACHI, LTD., LITHIUM WERKS BV, RENAULT GROUP, CBAK ENERGY TECHNOLOGY, INC., SAMSUNG SDI CO., LTD., GS YUASA INTERNATIONAL LTD. |
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Global lithium-ion battery market is predicted to grow at a rapid rate over the projected period, owing to increase in adoption in different electronic devices along with electric & hybrid vehicles. Lithium-ion batteries are rechargeable, which are commonly used as a power source in various portable electronic devices. The components present in these batteries include cathode, anode, and electrolyte, out of which the cathode occupies around 30% of the overall lithium-ion battery cost. Various organizations across diverse industry verticals such as electronics, automotive, and industrial prefer lithium-ion batteries over conventional energy storage solution, owing to their enhanced energy density, lightweight, and eco-friendly nature. Furthermore, the development of portable and sleeker digital devices is anticipated to foster the demand for lithium-ion batteries.
In 2019,the automotive end-use industry segment was the major shareholder, owing to rise in product adoption in various automobiles such as electric and hybrid vehicles. However, the electrical & electronics sector is expected to witness significant growth during the forecast period, owing to the fact that various electronic gadgets such as smartphones and laptops are equipped with Lithium-ion batteries, which propels the growth of the global market. The production of electric/hybrid vehicles is projected to rise at an exponential rate in the coming years, which is anticipated to further escalate the demand for lithium-ion batteries, thus contributing toward the market growth.
The adoption of lithium-ion batteries in Asia-Pacific region is currently the largest, due to burgeoning demand in China, Japan, and India. North America and Europe are the second and third leading regions, respectively, for lithium-ion battery market. Currently, the global market is highly concentrated as about five to six major players occupy around 50% share in the overall lithium-ion battery market.
A. Lithium-ion battery market is projected to reach $129.3 billion by 2027, at a CAGR of 18.0% from 2020 to 2027.
A. The cathode segment was the highest contributor to the market, however, the electrolytic solution segment is predicted grow at the fastest rate during the forecast period.
A. To get latest version of lithium ion battery market report
A. Primarily, smartphones, tablets, and laptop/PCs are witnessing higher sales, compared to other electronic gadgets, due to their improved performance coupled with low prices. Battery back-up is considered as one of the important features consumers enquire before buying any tablet, mobile phone, or laptop/PC. As Li-ion batteries provide enhanced battery life, they are majorly preferred in smartphone manufacturing, which, in turn, is expected to enhance the product demand over the coming years.
A. The lithium-ion battery market was valued $36.7 billion in 2019, and is projected to reach $129.3 billion by 2027, at a CAGR of 18.0% from 2020 to 2027.
A. The top ten market players are selected based on two key attributes - competitive strength and market positioning
A. The company profiles are analyzed by performing a thorough study of the leading players in the lithium-ion battery market. Comprehensive analysis of recent developments and growth curves of various companies help to understand the growth strategies adopted by them and their potential effect on the market.
A. The demand for Lithium-ion batteries in the automobile industry is expected to increase with rise in demand for electric vehicles. These batteries have gained popularity among the automobile manufacturers, as they offer an alternative to nickel–metal batteries used in electric vehicles, due to their small size and lightweight. Thus, surge in demand for electrical vehicle (EV), hybrid electric vehicle (HEV), and plug-in hybrid vehicle (PHV) is anticipated to foster the adoption of Lithium-ion batteries, thereby driving the growth of the global market.
A. Product launch is one of the key growth stratgies adopted by lithium-ion battery industry players. GS Yuasa Launched new product, LIM50EL Series for industrial lithium-ion battery. This product has prolonged service life. This strategy strengthened the company’s product portfolio.
A. Lithium-ion battery products are used in professional electronic equipment, power tools, portable devices, garden tools, electric motors, medical equipment, electric drives, and energy storage systems applications.
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