Lithium Ion Battery Market Is to Reach $100,433.7 Million by 2025 | CAGR 17.1%

According to a new report published by Allied Market Research, titled, Lithium Ion Battery Market by Technology & End-Use Industry: Global Opportunity Analysis and Industry Forecast, 2018 - 2025, the global lithium ion battery market was valued at $30,186.8 million in 2017, and is projected to reach $100,433.7 million by 2025, growing at a CAGR of 17.1% from 2018 to 2025.

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Lithium ion batteries are rechargeable in nature and feature high-energy density. These batteries are mainly used in portable electronic devices. The global lithium ion battery market is anticipated to witness rapid growth, owing to the increase in its use in electric & hybrid vehicles. In addition, its demand is expected to witness rapid growth in the electrical & electronics end-use industry, especially in electronic devices such as smartphones, laptops, and others.

The global lithium ion battery market for automotive end-use industry segment is predicted to dominate the global market with more than half of the market share in 2017, owing to increase in product use in electric & hybrid vehicles. The lithium ion batteries have high-energy density and provide high efficiency. This increases the demand for these batteries among various automotive manufacturers.

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Based on region, the North America lithium ion battery market is predicted to grow on a rapid scale over the coming period, owing to the increase in production of electric and hybrid vehicles. Moreover, rise in sales of electronic products in the overall North America region is further anticipated to enhance the regional market size during the forecast period.

Key Findings of theLithium Ion Battery Market :
Based on region, the North America lithium ion battery market is projected to grow at a rapid CAGR of nearly 17.7% during the projected period.

Based on region, the Asia-Pacific lithium ion battery market is anticipated to dominate the global market during the forecast period.

The automotive segment is expected to dominate the market, with more than a half of the market share throughout the projected period.

Some of the key players operating in the global lithium ion battery market 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. among others. The other players in the market (not included in the report) include Tesla, Johnson Controls International Plc., Saft Batteries, and BYD Company Ltd.

The global lithium ion battery market is driven the increasing demand for energy conservation among automotive companies by using lithium ion batteries. Moreover, stringent regulations regarding the emissions from traditional vehicles is expected to further augment the demand for electric vehicles, which in turn fuels the requirement of lithium ion batteries.

Several key players operating in the global lithium ion battery market are constantly adopting different strategical moves such as business agreements, expansion plans, company mergers & acquisitions, along with various joint ventures, to enhance their position in the market. For instance, in September 2017, Maruti Suzuki India Ltd., collaborated with Toshiba and Denso to start a lithium-ion battery production facility solely dedicated for automobiles in India. Toshiba is responsible for cell modules in this collaboration. The geographical outreach of the involved companies is expected to expand due to this strategical move.

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We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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