Li-ion Battery for AEVs: Market Analysis & Forecast 2023-2032

The global market for lithium-ion batteries for AEVs is estimated at US$17 billion. Total sales in 2020 are expected to reach nearly US$29.51 billion, an increase of 8.2 GR from 2023 to 2032.

Lithium-ion batteries for AEVs, which are rechargeable batteries, are a type of rechargeable battery. Used to power a variety of applications including electric vehicles (HEV, PHEV, BEV). It can also be used in the industrial sector to store renewable energy in grid storage systems. Lithium-ion batteries may replace lead-acid batteries in his HEVs and PHEVs in the future due to their high capacity and low running costs. This will increase the growth rate of the global lithium-ion batteries for AEV market by 8.2% over the forecast period of 2023-2032. They feature the best energy-to-weight ratio, high open-circuit voltage, low self-discharge rate, and gradual charge loss when not in use, making them one of AVE's most popular rechargeable batteries.

Unique properties such as high energy density, long life, light weight, and eco-friendly properties drive high consumer demand for lithium-ion batteries. Lithium-ion batteries are also emerging as the power source of choice for electric vehicles (EV), hybrid electric vehicles (HEV), plug-in hybrid vehicles (PHEV) and energy storage applications in fast-growing markets. The global wind industry sees its best year ever in 2020 with 93 GW of new capacity installed, up 53% year-on-year, stimulating global demand for ESS and boosting the expansion of the lithium-ion battery industry it was done. Lithium-ion batteries are a great alternative to NiMH batteries as they produce twice the energy for the same weight, resulting in higher performance and range. Lithium-ion battery costs are dropping, from about $900/KWh in 2011 to less than $137/KWh in December 2020. Batteries make up a significant portion of the total cost of an electric vehicle, and declining battery costs are increasing demand for electric vehicles. Stringent government emission limits aimed at protecting the environment and reducing mining-related opportunities are expected to have a significant impact on the lithium-ion battery business. The presence of major electric car manufacturers such as Nissan, BMW, Tesla, Chevrolet, Ford, Toyota and Fiat in the US, UK, Germany and China should help expand the market. In 2020, the value of the lithium iron phosphate (LFP) product category exceeded $12 billion. These batteries have a long service life and offer excellent product safety.

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Market Segmentation:
Vehicle Type: Segments based on the type of electric vehicles, such as passenger cars, commercial vehicles (vans, trucks, buses), and two-wheelers (motorcycles, scooters).

Battery Capacity: Segments based on the capacity or energy storage of Li-Ion batteries, such as small capacity (below 20 kWh), medium capacity (20-50 kWh), and high capacity (above 50 kWh).

Technology: Segments based on the battery technology employed, such as lithium iron phosphate (LiFePO4), lithium nickel cobalt aluminum oxide (NCA), lithium nickel manganese cobalt oxide (NMC), and lithium titanate (LTO).

Application: Segments based on the application or usage of Li-Ion batteries in AEVs, such as private transportation, shared mobility services, and commercial fleet operations.

Region: Segments based on geographic regions, such as North America, Europe, Asia-Pacific, and Rest of the World.

Following are Top Key players Covered in Report:
AESC
Blue Energy
Hitachi
LG Chem
Panasonic
Toshiba
Deutsche ACCUmotive
Samsung SDI
Johnson Controls
Sony
A123 Systems
Shenzhen BAK battery

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Regional Analysis:
North America: North America is a significant market for Li-Ion batteries for AEVs. The region has a strong presence of major automotive manufacturers and a growing demand for electric vehicles (EVs). Countries such as the United States and Canada have been promoting EV adoption through government incentives and investments in charging infrastructure. The market is expected to witness substantial growth in this region.

Europe: Europe is at the forefront of electric vehicle adoption, with several countries implementing strict emission regulations and promoting sustainable transportation. Countries like Norway, Germany, the Netherlands, and the United Kingdom have witnessed a significant increase in EV sales. The demand for Li-Ion batteries for AEVs is high in this region due to the growing EV market and the presence of key battery manufacturers.

Asia Pacific: Asia Pacific is a major market for Li-Ion batteries, driven by the presence of key automotive and battery manufacturers in countries such as China, Japan, and South Korea. China, in particular, is the largest electric vehicle market globally and has a robust infrastructure for EV charging. The region's growing middle-class population, urbanization, and government initiatives to reduce pollution are driving the demand for AEVs and, subsequently, Li-Ion batteries.

Latin America: Latin America is witnessing a gradual increase in the adoption of AEVs. Countries like Brazil and Mexico have seen a rise in EV sales, supported by government policies and incentives. The region has significant potential for Li-Ion battery manufacturers as the market expands.

Middle East and Africa: The Middle East and Africa region are gradually embracing electric mobility, driven by the need to diversify their energy sources and reduce dependence on fossil fuels. Countries like the United Arab Emirates and South Africa are investing in charging infrastructure and encouraging the adoption of AEVs. The Li-Ion battery market for AEVs is expected to grow in this region as EV adoption gains momentum.

Key Benefits:
• The analysis provides an overview of the factors driving and limiting the growth of the market including trends, structure and others.
• Market estimation for type and geographic segments is derived from the current market scenario and expected market trends.
• Porter's Five Force Model and SWOT analysis are used to study the global Li-ion Battery for AEVs market and would help stakeholders make strategic decisions.
• The analysis assists in understanding the strategies adopted by the companies for the growth of this market.
• In-depth analysis of the types of Li-ion Battery for AEVs would help in identifying future applications in this market.

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Reasons to Purchase this Report:
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• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter's five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
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