Lithium-ion Battery Market Worth Swell by 18.0% from 2020 to 2027 | New Research by Allied Market Research
According to the report by Allied Market Research, the global lithium-ion battery market contributed $36.7 billion in 2019 and is estimated to reach $129.3 billion by 2027, growing at a CAGR of 18.0% from 2020 to 2027. The report offers a detailed analysis of changing market trends, key investment pockets, value chain, major segments, business performance, and competitive landscape.
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Based on region, Asia-Pacific contributed the highest share in 2019, accounting for nearly two-fifths of the global lithium-ion battery market, and is estimated to maintain its lead position by 2027. On the other hand, North America is estimated to witness the highest CAGR of 18.7% during the forecast period.
In the current business scenario, the efficiency of batteries is one of the vital features that is required for the improved sale of electronic devices across the globe. Primarily, smartphones, tablets, and laptop/PCs are witnessing higher sales, compared to other electronic gadgets, due to their improved performance coupled with low prices.
• There has been decline in demand of lithium-ion batteries during the Covid-19 pandemic due to reduced demand for electric vehicles.
• Major players across the globe, especially from India and China, have announced disruptions in shipments, production, project development, and research and development activities.
• Some of the manufacturers have put a halt to projects and revising investment plans.
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The global lithium-ion battery market is segmented by end-use industry into electrical & electronics, automotive, and industrial, with others which include medical, military, and textile industries. The electrical & electronics segment was the highest contributor to the market.
Leading players of the global lithium-ion battery market analyzed in the research include Automotive Energy Supply Corporation, Samsung SDI Co. Ltd., Panasonic Corporation, LITEC Co., Ltd., LG Chem Power (LGCPI), Toshiba Corporation, A123 Systems, LLC, China BAK Battery Co. Ltd., Hitachi Chemical Co., Ltd., and GS Yuasa International Ltd.
Based on end-use industry, the electrical & electronics segment accounted for nearly half of the total revenue of the global lithium-ion battery market in 2019, and is expected to maintain its dominance during the forecast period.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
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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