Lithium Ion Battery Market Set for Rapid Growth in the Forecast Period 2020–2025 | Automotive Energy Supply Corporation,Samsung SDI Co. Ltd.,Tesla, Inc.,Toshiba

The Lithium ion battery market is anticipated to reach US $71.0 billion by 2025 from US$ 26.9 billion in 2018 thereby registering a moderate CAGR growth rate of 14.9% during the forecast period.

In 2017, Asia Pacific accounted for the largest revenue share in the lithium-ion battery market. High market share is primarily due to presence of major PEV and PHEV vehicle and E-Bike manufacturers such as BYD, KANDI, Zotye, Phylion and others. The region also includes the presence of high volume (units) electronic device product manufactures such as Toshiba and Samsung. Further, banning of fuel powered motorcycles in China has also resulted the increase penetration of Li-Ion batteries from 6% to 17% in the country.

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For instance, under ‘Make in India’ initiative the government of India aims to reduce all electronic imports into India by 2020 in the country. The policy also seeks to incentivize the establishment of local operations by foreign firms hoping to penetrate the rapidly expanding and diversifying Indian market.

Li-ion batteries are used in a wide range of applications such as consumer electronics, automotive, energy storage systems, aerospace & defense, and medical & healthcare. These industries highly depend on Li-ion battery for powering electronic devices, medical devices, power systems, and electric vehicles including many others.

The leading players in this market are focusing on developing technologies in order to upgrade existing materials to reduce the charging time of Li-ion batteries and to overcome the limitations of the current materials. These up gradations in existing thermally unstable materials are expected to generate substantial growth opportunity for the industry players in the lithium-ion battery market.

Top Key Players:-
1. Automotive Energy Supply Corporation
2. Samsung SDI Co. Ltd.
3. Tesla, Inc.
4. Toshiba Corporation
5. A123 Systems LLC
6. GS Yuasa International Ltd.
7. Hitachi Chemicals Co. Ltd.
8. LG Chem Ltd.
9. Panasonic Corporation
10. Johnson Controls International Plc

Li-ion batteries are used in a wide range of applications such as consumer electronics, automotive, energy storage systems, aerospace & defense, and medical & healthcare. These industries highly depend on Li-ion battery for powering electronic devices, medical devices, power systems, and electric vehicles including many others. Lightweight is the major concern while choosing the batteries for the range of applications in order to reduce the product weight. Li-ion batteries are a quarter of the weight of lead-acid batteries, thus, the preferred solution for high-performance products.

GLOBAL LITHIUM ION BATTERY - MARKET SEGMENTATION

Lithium Ion Battery Market - By Type

• Lithium Cobalt Oxide
• Lithium Iron Phosphate
• Lithium Titanate Oxide
• Lithium Manganese Oxide
• Lithium Nickel Manganese Cobalt Oxide
Lithium Ion Battery Market - By Power Capacity

• 0 to 3000 mAh
• 3000 to 10000 mAh
• 10000 to 60000 mAh
• >60000 mAh
Lithium Ion Battery Market - By Application

• Consumer Electronics
• Automotive
• Industrial Energy Storage Systems
• Aerospace and Defense
• Medical Devices

Modern devices rely more on Li-ion batteries which are extensively used in different types of consumer electronics and hybrid & electric vehicles. Along with this, the demand for wearable devices is getting higher such as smart watches and healthcare bands etc. The customers are demanding more from these batteries in terms of energy storage, the speed of recharge, and working conditions.

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