Press release
Lithium-Ion (Li-Ion) Market Report 2024: Strategies And Recent Developments | A123 Systems Inc., Automotive Energy Supply Corporation (AESC), LG Chem Ltd., Panasonic Corporation
Lithium-Ion (Li-Ion) Market Trends
The Business Research Company offers in-depth market insights through Lithium-Ion (Li-Ion) Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The lithium-ion (li-ion) market size has grown rapidly in recent years. It will grow from $53.17 billion in 2023 to $58.71 billion in 2024 at a compound annual growth rate (CAGR) of 10.4%. The growth in the historic period can be attributed to portable electronics boom, electric vehicles (evs), consumer electronics, energy storage, efficiency and sustainability.
The lithium-ion (li-ion) market size is expected to see strong growth in the next few years. It will grow to $85.17 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%. The growth in the forecast period can be attributed to electric aviation, energy transition, ev adoption growth, emerging markets, industrial and commercial applications. Major trends in the forecast period include solid-state batteries, battery recycling, fast charging technology, energy density improvements, advanced materials.
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Market Segmentation:
The main types of lithium-ion (Li-ion) batteries are Lithium Nickel Manganese Cobalt (LI-NMC), Lithium Iron Phosphate (LFP), Lithium Cobalt Oxide (LCO), Lithium Titanate Oxide (LTO), Lithium Manganese Oxide (LMO) and Lithium Nickel Cobalt Aluminum Oxide (NCA). The lithium iron phosphate battery is a type of lithium-ion battery with a cathode made of lithium iron phosphate and an anode made of graphitic carbon with a metallic backing. The various component used are cathode, anode, separators, electrolytes, aluminum foil, copper foil, others and are available in different power capacities such as 0 to 3000 Mah, 3000 to 10000mAH, 10000 to 60000 Mah and above 60000mAH. Consumer electronics, automotive, marine, aerospace and defense, medical, industrial, power, and other industries use the chemistries used in lithium-ion (Li-ion) batteries.
Major Driver - Lithium-Ion Batteries Market Thrives On High Energy Density
The growth of the lithium-ion batteries market is mainly driven due to the presence of high energy density features in lithium-ion batteries. High energy density helps the lithium-ion battery to run for a longer period. Most of the lithium-ion batteries used in portable devices are cobalt-based which offers the highest energy density. The energy density of the lithium-ion batteries is 100-265 Wh/kg or 250-670 Wh/L, which is one of the highest energy densities of any battery technology. High energy density in a lithium-ion battery made it the most preferred battery to be used in mobile phones, laptops, cameras and automobiles. Therefore, positively impacting the growth of lithium-ion batteries market.
Competitive Landscape:
Major companies operating in the lithium-ion (li-ion) market include A123 Systems Inc., Automotive Energy Supply Corporation (AESC), LG Chem Ltd., Panasonic Corporation, Samsung SDI Co. Ltd., Toshiba Corporation, BYD Company Limited, Contemporary Ampere*x Technology Co. Ltd. (CATL), Johnson Controls Inc., Ampere*x Technology Limited (ATL), BAK Group (Shenzhen BAK Battery Co. Ltd.), Blue Energy Co. Ltd., Aviation Industry Corporation of China (AVIC), CBAK Energy Technology Co. Ltd., GS Yuasa Corporation, Hefei Guoxuan High-tech Power Energy Co. Ltd., Hitachi Chemical Co. Ltd., Johnson Controls International plc, Microvast Inc., Saft Batteries, Amperes Technology Co. Ltd., Tianjin Lishen Battery Joint-Stock Co. Ltd., Tianneng Power International Limited, eCobalt Solutions Inc., LG Energy Solution, SK Innovation Co. Ltd., Tesla Inc., Valence Technology Inc., EnerDel Inc., Lithium Werks B.V., Electrovaya Inc., Kokam Co. Ltd., Envision AESC Group Ltd., Farasis Energy Inc., Lishen Battery, Northvolt AB, VARTA AG, BMZ GmbH, Leclanché SA, EVE Energy Co. Ltd.
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Top Trend - Increasing Focus On Introducing Batteries With Greater Discharge Capabilities To Gain A Competitive Edge
Major companies operating in the lithium-ion batteries market are focused on developing batteries with greater discharge capabilities such as Alliance I48-3.0 lithium-ion battery to gain a competitive edge in the market. Alliance I48-3.0 lithium-ion battery provides higher power, increased range, durability, and low maintenance. Using batteries with greater discharge capabilities can provide more power for high-demand applications, ensuring reliable performance when needed. For instance, in January 2022, American Battery Solutions Inc., a US-based manufacturer of industrial and commercial lithium-ion batteries, announced the launch of the Alliance I48-3.0 lithium-ion battery. This battery provides higher power, increased range, durability, and low maintenance for golf cars and other electric vehicles in an industry-standard GC2 size. This product's unique feature is its ability to withstand the rigors of high power with 350 Amp pulse and 120 Amp continuous discharge capabilities. This battery serves a wide range of applications, such as fleet maintenance, construction equipment, and battery-powered tools. The Alliance I48-3.0 stands out with its remarkable discharge capabilities, offering up to 75% more power compared to other standard-sized Lithium-Ion batteries. This impressive feature ensures enhanced durability and a longer lifespan.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Lithium-Ion (Li-Ion) Market Characteristics
3. Lithium-Ion (Li-Ion) Market Trends And Strategies
4. Lithium-Ion (Li-Ion) Market - Macro Economic Scenario
5. Lithium-Ion (Li-Ion) Market Size And Growth
…..
27. Lithium-Ion (Li-Ion) Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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