Lithium Ion Battery Market by Component & key players are Toshiba Corporation, Hitachi Chemical Co., Ltd., China BAK Battery Co. Ltd

The global lithium ion battery market is predicted to grow rapidly during 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 mainly include cathode, anode, and electrolyte, out of which the cathode occupies around 30% of the overall cost of the lithium-ion battery. 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. Further, the development of portable and sleeker digital devices is expected to foster the demand for lithium-ion batteries.

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At present, the automotive end-use industry segment is the biggest shareholder, primarily owing to rise in product adoption in various automobiles such as electric and hybrid vehicles. Electrical & electronics sector is expected to witness growth, owing to increase in product usage in various electronic gadgets such as smart phones, laptops, and others. The production of electric/hybrid vehicles is projected to increase at an exponential rate over the coming years, which would further escalate the demand for lithium ion batteries. For instance, in 2014, Tesla announced to manufacture around 500,000 electric cars every year by around 2018, thus increasing the requirement of lithium ion batteries (around 500,000, 65-kilowatt-hour batteries per year).

The adoption of lithium ion batteries in Asia-Pacific is currently the highest, due to increase in demand in China, Japan, and India. North America and Europe are the second and third leading regions, respectively, for the lithium ion battery market. At present, the global market is highly concentrated as about five to six major players occupy around 50% market share in the overall lithium ion battery market.

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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.

Lithium-ion (Li-ion) batteries are rechargeable batteries with high-energy density and are majorly used in portable equipment. The market for these batteries is expected to witness significant growth owing to increase in 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 in line with rise in demand for electric vehicles. These batteries have gained popularity among automobile manufacturers as they offer an alternative to nickel metal batteries used in electric vehicles, due to their small size and light weight.

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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. 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 has been segmented by various end-use industries including electrical & electronics, automotive, and industrial, with others, which include medical, military, and textile industries. The electrical & electronics end-use industry is further segmented into smartphones, tablet/PC, UPS, and others. The automotive end-use segment is further segmented into car, bus, truck, scooter & bike, and train & aircraft. Crane & forklift, mining equipment, and smart grid & renewable energy storage are considered under the industrial end-use segment.

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