Press release
Lithium-ion Battery Market Size Is Booming Worldwide With | Tianjin Lishen Battery Joint-Stock Co. Ltd, Samsung SDI, BYD Company Limited
The global lithium-ion battery market is growing at a high CAGR because of the rapid surge in the demand for consumer electronic products such as smartphones and laptops, boosting the demand for rechargeable batteries along with increasing demand for electric vehiclesA recent study conducted by the strategic consulting and market research firm, Report Ocean, revealed that the global lithium-ion battery market was worth around USD 41 billion in 2021. The market is projected to grow at a CAGR of 12.2%, thereby surpassing USD 89.7 billion by 2028. The global lithium-ion battery market is flourishing at a high rate owing to the rapid surge in the demand for consumer electronic products such as smartphones and laptops, boosting the demand for rechargeable batteries. Furthermore, an increasing shift towards electric vehicles due to environmental consciousness, is resulting in the expanding production of EVs, further propelling the demand for lithium-ion batteries, driving the market growth. However, lithium-ion batteries carry safety hazards and if exposed to an unfavorable environment, can lead to explosions and fires, which acts as a major restraining factor for the market growth.
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Flourishing Demand for Li-Ion Battery Pack is Driving Lithium-ion Battery Market
The lithium-ion battery market is segmented into cells and battery packs, based on product. The battery packs segment accounts for the largest share in the lithium-ion battery market due to its expanding usage in various applications including emergency power backup or UPS, solar power storage, electric vehicle battery, marine performance, surveillance or alarm systems, etc. The cell segment is also growing at a high rate owing to its prominent use in cellular phones and note-type personal computers.
Increasing Demand for High Capacity Lithium-Ion Battery is Propelling Lithium-ion Battery Market
Based on capacity, the lithium-ion battery market is segmented into 0 to 3,000 mAh, 3,000 to 10,000 mAh, 10,000 to 60,000 mAh, 60,000 mAh, and above. The 10,000 to 60,000 mAh battery capacity segment holds the largest market share owing to the prominent use in EVs. Electric vehicles require high-capacity batteries to cover longer distances without needing to recharge them time and again, which acts as a major contributing factor for its market growth. Furthermore, the use of this capacity of lithium-ion battery in a wide range of EVs including plug-in as well as hybrid electric vehicles, e-motorcycles, hybrid trucks, and buses, etc., is also boosting the growth of the market.
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Lithium-ion Battery Market - By End-User
Based on end-user, the lithium-ion battery market is segmented into consumer electronics, automotive, aerospace, marine, medical, industrial, power, and telecommunications. The consumer electronics segment accounts for the largest market share owing to the increasing application of li-ion batteries in various electronic goods including laptops, small earbuds, tablets, mobile phones, handheld power tools. The automotive segment also covers a substantial market share and is projected to witness the highest growth rate during the forecast period due to the prominent use of lithium-ion batteries in electric vehicles.
Lithium-ion Battery Market - Regional Insights
Geographically, the lithium-ion battery market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. The Asia-Pacific region dominates the lithium-ion battery market. However, North America is also projected to grow at a substantial rate during the forecast period owing to the extensive research and development activities by the market players. Furthermore, the expanding production of electric vehicles due to the presence of leading EV manufacturers such as Tesla is also propelling the growth of the lithium-ion battery market in this region.
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Impact of COVID-19 on Lithium-ion Battery Market
The growth of the lithium-ion battery market was negatively impacted by the sudden COVID-19 pandemic outbreak. The restrictions on the manufacturing and production activities of non-essential products including consumer electronic goods and electric vehicles. This resulted in a sharp decline in the demand for lithium-ion batteries, incurring huge losses to the market. However, the market is expected to recover from this slump and proliferate in the forecast period due to the surge in the demand for electronics including smartphones and laptops due to work from home and online schooling needs.
Competitive Landscape
The leading market players of the lithium-ion battery market are LG Chem Ltd, GS Yuasa International Ltd., Panasonic Corporation, Hitachi Chemical Co., Ltd., Sony Corporation, Tianjin Lishen Battery Joint-Stock Co. Ltd, Samsung SDI, BYD Company Limited, Johnson Controls, A123 Systems LLC, Shenzhen Huayu New Energy Technology Co., Ltd., NEC Corporation, Toshiba Corporation, Saft, Narada Power Source Co., Ltd.., Blue Energy Limited, BAK Group, Valence Technology, and other prominent players.
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Market Segment:
By Material (Cathode Material, Anode Materials, Electrolyte Material, Separator Materials, Current Collector Materials, Other Materials)
By Type (Lithium Nickel Manganese Cobalt Oxide (Li-NMC), Lithium Iron Phosphate (LFP), Lithium Cobalt Oxide (LCO), Lithium Titanate Oxide (LTO), Lithium Manganese Oxide (LMO), Lithium Nickel Cobalt Aluminum Oxide (NCA))
By Product (Cells, Battery Packs)
By Capacity (0 To 3,000 MAH, 3,000 To 10,000 MAH, 10,000 To 60,000 MAH, 60,000 MAH And Above)
By End-User (Consumer Electronics, Automotive, Aerospace, Marine, Medical, Industrial, Power, Telecommunications)
By Region (North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle-East & Africa (MEA)
The market is highly consolidated with the presence of several multinational conglomerates and regional battery makers. However, several startups are also emerging with great potential and giving tough competition to established players. The companies significantly invest in research and development activities to boost the lithium-ion battery capacities and expand its application to proliferate their market. Furthermore, the adoption of competitive strategies such as mergers, acquisitions, partnerships, joint ventures, etc., is also prominent in this market.
Table of Content:
Report Overview
Global Growth Trends
Competition Landscape by Key Players
Data Segments
North America Market Analysis
Europe Market Analysis
Asia-Pacific Market Analysis
Latin America Market Analysis
Middle East & Africa Market Analysis
Key Players Profiles Market Analysis
Analysts Viewpoints/Conclusions
Appendix
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Access to date data compiled by means of our researchers. These grant you with historic and forecast data, which is analyzed to inform you why your market is set to change
This allows you to expect market adjustments to continue to be in advance of your competitors
You will be in a position to replica information from the Excel spreadsheet straight into your advertising plans, commercial enterprise presentations, or different strategic documents
The concise analysis, clear graph, and desk structure will allow you to pinpoint the records you require quickly
Provision of market cost (USD Billion) records for every phase and sub-segment
Indicates the area and section that is predicted to witness the quickest increase as nicely as to dominate the market
Analysis through geography highlighting the consumption of the product/service in the area as nicely as indicating the elements that are affecting the market inside every region
Competitive panorama which contains the market rating of the predominant players, alongside with new service/product launches, partnerships, commercial enterprise expansions, and acquisitions in the previous 5 years of organizations profiled
Extensive business enterprise profiles comprising of business enterprise overview, employer insights, product benchmarking, and SWOT evaluation for the primary market players
The cutting-edge as nicely as the future market outlook of the enterprise regarding current traits which contain boom possibilities and drivers as properly as challenges and restraints of each rising as nicely as developed regions
Includes in-depth evaluation of the market from quite a number views via Porter's 5 forces analysis
Provides perception into the market via Value Chain
Market dynamics scenario, alongside with boom possibilities of the market in the years to come, 6-month post-sales analyst help
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We are the best market research reports provider in the industry. Report Ocean believes in providing quality reports to clients to meet the top line and bottom line goals which will boost your market share in today's competitive environment. Report Ocean is a 'one-stop solution' for individuals, organizations, and industries that are looking for innovative market research reports.
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