Lithium-Ion Battery Market 2021-2026: Size, Price, Growth, Share, Outlook, and Forecast

According to the latest report by IMARC Group, titled “Lithium-ionBattery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global lithium-ion battery market size reached a value of US$ 34.1 Billion in 2020. A lithium-ion battery refers to a type of rechargeable battery having high energy density. It requires low maintenance and uses an intercalated lithium compound as its electrode. These batteries are relatively lighter than other rechargeable variants of the same size. They do not need scheduled cycling to improve the shelf life and have lower self-discharge rates than nickel-cadmium batteries. Since they do not have a memory effect, they do not require complete discharge prior to recharging. As a result, these batteries are used in a vast array of products including automobiles, mobile devices, watches, cameras, pacemakers and personal computers.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Global Lithium-ion Market Trends:

On account of the escalating internet penetration and rising purchasing power of users, especially across the emerging economies, the sales of portable electronic devices such as mobiles and laptops are continually increasing. This, coupled with the numerous advantages offered by lithium-ion batteries, is strengthening the growth of the market. In addition to this, consumers are now making a shift from traditional automobiles to electric vehicles. This can be attributed to the rising awareness amongst the users about the reduced greenhouse gases emissions associated with the usage of electric vehicles. This is further supported by tax incentives and subsidies offered by several governments to EV manufacturers. For instance, the European Union recently funded the ‘GREENLION’ collaborative project for manufacturing affordable lithium-ion batteries for EVs. Moreover, increasing fluctuations in the supply of and demand for electricity have bolstered the demand for these batteries for use in energy storing devices such as solar grids for industrial and household applications. Furthermore, governments of several countries have imposed strict policies regarding pollution and the consumption of non-renewable resources including oil, coal and natural gas, which is positively influencing the market growth.

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Key Market Segmentation:

Competitive Landscape:

The competitive landscape of the industry has also been examined with some of the lithium ion battery manufacturers being A123 Systems LLC, AESC SDI CO.,LTD., LG Chem Ltd., Panasonic Corporation, SAMSUNG SDI CO.,LTD., Toshiba Corporation, Amperex Technology Limited, BAK Group, Blue Energy Limited, BYD Company Ltd., CBAK Energy Technology, Inc., Tianjin Lishen Battery Joint-Stock CO.,LTD., Valence Technology, Inc., SK innovation Co., Ltd, and Hitachi, Ltd.

Breakup by Product Type:
• Lithium Cobalt Oxide
• Lithium Iron Phosphate
• Lithium Nickel Manganese Cobalt
• Lithium Manganese Oxide
• Others (Li-ion Nickel Cobalt Aluminium Oxide and Li-ion Titanate Oxide)

Breakup by Power Capacity:
• 0 to 3000mAh
• 3000mAh to 10000mAh
• 10000mAh to 60000mAh
• More than 60000mAh

Breakup by Application:
• Consumer Electronics
• Electric Vehicles
• Energy Storage
• Others

Regional Insights:
• Asia Pacific
• North America
• Europe
• Middle East and Africa
• Latin America

Key highlights of the report:
• Market Performance
• Market Outlook
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Competitive Structure
• Profiles of Key Players

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