Lithium Ion Battery Market Size | Grow at 17.1% CAGR | $$100,433.7 million by 2025
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 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 light weight. Thus, the increase in demand for an electrical vehicle (EV), hybrid electric vehicle (HEV), and plug-in hybrid vehicle (PHV) is expected to foster the adoption of Li-ion batteries. Furthermore, the growth in demand for smartphones, tablet, and other compact portable electronic devices is expected to fuel the demand of these batteries. However, longer charging times of these batteries used in EV/PHV vehicles and their high price are the key factors, expected to restrict the market growth.
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Increase in energy requirements by consumer gadgets due to a continuous increase in the number of features is anticipated to create numerous growth opportunities for the players operating in the market. With the help of technological advancements, the prominent market players are manufacturing various lithium-ion batteries with higher capacity to cater to the increasing demands of the battery users. For instance, in 2014, AES Corporation announced to launch the world’s largest lithium-ion battery capable of providing 400 MW of power. This battery is expected to replace batteries of old gas plants, which were used for power generation. Moreover, in 2014, Tesla announced to build a battery plant known as “GigaFactory” in Nevada, U.S., which was expected to initiate the production of the lithium-ion cell in 2017. This project is anticipated to reduce the price of Li-ion batteries owing to mass production.
The market is segmented based on component, end-use industry, and region. The component segment is divided into cathode, anode, electrolytic solution, and others (foils, binders, and separators). The end-use industry segment is categorized into electrical & electronics, automotive, industrial, and others (medical, military, and textile).
Based on the region, the lithium-ion battery market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Some of the key players operating in this 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.
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KEY BENEFITS FOR STAKEHOLDERS
The report provides extensive qualitative and quantitative analyses of the current trends and future estimations of the global lithium-ion battery market from 2017 to 2025 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 have been provided, and this helps can be useful for understanding the competitive scenario globally.
The report provides extensive qualitative insights on the significant segments and regions exhibiting favorable market growth.
Lithium-Ion Battery Key Market Segments :
By Component: Cathode, Anode, Electrolytic Solution and Others
By End-Use Industry: Electrical & Electronics, Smartphones & Tablet/PC, UPS and Others
Automotive: Car, Bus, & Truck, Scooter & Bike, Train & Aircraft, Industrial, Crane & Forklift, Mining Equipment, Smart Grid & Renewable Energy Storage
North America: U.S., Canada, Mexico
Europe: UK, Germany, France, Spain, Italy, Rest of Europe
Asia-Pacific: China, India, Japan, South Korea, Australia, Rest of Asia-Pacific
LAMEA: Chile, Israel, South Africa, Rest of LAMEA
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