Europe Lithium Ion Battery Market is expected to expand at a CAGR of 7.5% by 2031 | Key Players- LG Chem Ltd, Enersys Inc

Europe Lithium Ion Battery Market

The Europe lithium ion battery market is valued at over US$ 10 Bn at present. Sales of lithium ion batteries in Europe are projected to increase at around 7.5% CAGR to top a value of US$ 20.5 Bn by 2031.Direct manufacturer to end user supply chain and establishment of manufacturing facilities against battery imports by suppliers are key trends in the continent.

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Persistence Market Research foresees the market to grow on a robust rate, albeit the product pricing to be slashed by 50% over the coming years on the backdrop of mass production as against customized manufacturing on selective order quantity basis by OEMs with patented technology during the previous 8-10 years.

The study of market analysis of Europe Lithium Ion Battery Market focuses on the key elements and the market dynamics of a specific market within that industry. Europe Lithium Ion Battery Market study is an essential part of the industry analysis that focuses on the aspects associated with the SWOT analysis. The survey report analyses the elements, such as the strengths, weaknesses, opportunities, and threats of every individual manufacturing company. 

With the help of Europe Lithium Ion Battery Market Report analysis, every new or established manufacturer can gain knowledge about the business strategies and planning by the significant key marketers who are having a strong base. The documentation is prepared by investigating the company's activities related to their planning, decision making, purchase, capital investment, innovation, workforce, business expansion strategy, facility expansion, promotional activities, and many other aspects of a company.

Key Players- 

• Panasonic Corporation
• Samsung SDI Co., Ltd.
• LG Chem Ltd
• Enersys Inc.
• SaftGroupe S.A.
• CATL
• Ultralife Corporation
• Leclanché SA
• Energizer Holdings, Inc.
• Northvolt ABB
• Excell Battery Co.
• Triathlon Batteries Solutions, Inc.
• KAYO Battery (Shenzhen) Company Limited
• Duracell Inc.
• Bestgo Battery Co., Ltd. and more

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Key Takeaways from Market Study

• The European market for batteries is expanding at an exponential rate, driven by both, social and governmental ambitions to execute green energy transition. Only the most cost-effective and long-term solutions can get market approval in this highly competitive sector with enormous development potential.
• It is widely understood that cost reduction and higher performance are required to drive down prices, which requires extensive R&D. Furthermore, there are a range of emerging applications for which lithium ion batteries have been recognized as a viable option.
• Europe has been at the forefront of planning and implementation of initiatives such as the REACH policy by 2030, and has been acknowledged as the initial adopter of electric-powered vehicles. Lithium batteries, being the principal driving/ energy storage unit, will be in direct proportion to that of electric vehicles fleet expansion.
• With the miniaturization of consumer electronics devices, demand for lithium ions batteries is expected to growth manifold to cater to end-user sector demands.
• End users such as mobility, heavy duty, and stationary energy storage industries, as well as battery industry stakeholders, will build synergies and capitalize on new pioneering discoveries in battery technology with lithium ion battery OEMs, which will ensure futuristic opportunities for the European market for lithium ion batteries.
• EU-5 countries are estimated to collectively account for 80% of regional demand, with Germany and the U.K. leading the race, on a robust growth in battery energy consumption of 65 GWh by 2031.

"REACH initiatives and emphasis of zero carbon emissions/ conventional fuel-free solutions will continue to drive demand for lithium ion batteries in Europe. With mass commercialization of the product, Europe will establish itself as a prominent production hub with pricing at reduced levels. In terms of application, demand will be fueled primarily by the transportation sector," says a Persistence Market Research analyst.

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Key Highlights of Market Evolution

• Though their fast charging and lower self-discharge rate has retained the popularity of li ion batteries as compared to other rechargeable batteries, manufacturers are constantly improving performance their characteristics amidst rising emergence of economical alternatives.
• Incorporating innovative materials for the manufacturing of li ion batteries to slash production cost is emerging as a popular trend among manufacturers. Thereby, customization achieved by reducing the quantity of cobalt proportionally inside the cathode is likely to become an integral part of business strategies of most manufacturers.
• The regional market will cease to be dependent on imports, as not only domestic companies but also multinational companies will look to invest and establish manufacturing facilities in the region, aided with subsidies and tax benefits for stakeholders.
• Related mergers and acquisitions are also expected to be witnessed in the interim

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