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Automotive Lithium-ion Battery Cell Market 2024 - Business Revenue, Trends, Top Key Players, Future Opportunities, Industry Share And Forecast To 2033
Automotive Lithium-ion Battery Cell Market
Automotive Lithium-ion Battery Cell Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $253.45 billion In 2028 At A CAGR Of 25.5%.
The automotive lithium-ion battery cell market size has grown exponentially in recent years. It will grow from $80.36 billion in 2023 to $102.11 billion in 2024 at a compound annual growth rate (CAGR) of 27.1%. The growth in the historic period can be attributed to rise of electric vehicles, government incentives, emission reduction targets, increasing consumer acceptance, scaling up production, collaborations and partnerships.
The automotive lithium-ion battery cell market size is expected to see exponential growth in the next few years. It will grow to $253.45 billion in 2028 at a compound annual growth rate (CAGR) of 25.5%. The growth in the forecast period can be attributed to ev market expansion, energy storage applications, government regulations, reduced battery costs, r&d investments. Major trends in the forecast period include increasing energy density, advancements in solid-state batteries, growth in electric vehicle (ev) adoption, supply chain diversification, recycling and sustainability initiatives, integration of battery management systems (bms).
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Automotive Lithium-ion Battery Cell Market Major Segments
The automotive lithium-ion battery cell market covered in this report is segmented -
1) By Type: Lithium Iron Phosphate (LFP), Lithium Cobalt Oxide (LCO), Lithium Manganese Oxide (LMO), Lithium Nickel Manganese Cobalt Oxide (NMC)
2) By Cell Type: Cylindrical, Prismatic, Pouch Cells
3) By Application: Battery Electric Vehicle (BEV), Plug-In Hybrid Electric Vehicle (PHEV), Fuel-Cell Electric Vehicle
Key Driver - Rising Electrification Of Vehicles Drives The Market
The rising electrification of vehicles across the globe is expected to propel the growth of the automotive lithium-ion battery cell market going forward. Vehicle electrification is the process of using electricity to power a vehicle, replacing components that use a conventional energy source with components that use electricity. Lithium-ion batteries are commonly used in vehicle electrification due to their high energy density and ability to provide high power output as they can store large amounts of energy in a relatively small and lightweight package, self-discharge at a lower rate than other battery types making them ideal for vehicle electrification. For Instance, according to September 2022 published, Global EV Outlook 2022 report, published by International Energy Agency, a France-based autonomous intergovernmental organization, global electric vehicle (EV) sales had doubled from the previous year in 2021, reaching a new high of 6.6 million units sales. Additionally, the sales of electric car vehicles worldwide in 2021 have reached 6600000 units from 2980000 units. Therefore, the rising electrification of vehicles across the globe will drive the automotive lithium-ion battery cell market.
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Prominent Trend - Technological Advancements To Provide Enhanced Solutions
Technological advancements are a key trend gaining popularity in the automotive lithium-ion battery cell market. Major companies operating in the automotive lithium-ion battery cell market are focused on developing innovative solutions to strengthen their position in the market. For instance, in October 2022, Natrion Inc., a US-based automotive component and battery manufacturer revealed a patented solid-electrolyte separator, LISIC278, for use in Li-ion battery cells with graphite anodes for EV battery cells. The new material is a modified version of Natrion's proprietary Lithium Solid Ionic Composite (LISIC) electrolyte designed to replicate the precise specs of a regular polyolefin separator while using the substantially less liquid electrolyte. It does this by providing strong ion transport capabilities at ambient temperatures while having a thermal resistance of more than 200°C and being completely dense (zero porosity). LISIC batteries have a near-zero fire risk, and the likelihood of a thermal incident worsening or expanding is considerably decreased.
Automotive Lithium-ion Battery Cell Market Players
Major companies operating in the automotive lithium-ion battery cell market report are Samsung SDI Co. Ltd., Toshiba Corporation, Contemporary Ampere Technology Co. Ltd., LG Chem Ltd., GS Yuasa International Ltd., Johnson Controls International Plc, Panasonic Corporation, East Penn Manufacturing Co., BYD Company Ltd., Automotive Energy Supply Corp., CROWN BATTERY, Duracell International Inc., Enersys Inc., Exide Industries Limited, Narada Power Source Co. Ltd., A123 Systems LLC, Exicom Power Solutions, Tesla Inc., Hitachi Ltd., NEC Corporation, Envision AESC Limited, Ampe*rex Technology Limited, Bader Ahmed Kaiksow Group, Blue Energy Limited, CBAK Energy Technology Inc., Tianjin Lishen Battery Joint-Stock CO. Ltd., Lithion Battery Inc., SK innovation Co. Ltd., OptimumNano Energy Co. Ltd., VARTA AG, Sony Corporation, Gotion High-Tech Co. Ltd. .
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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the automotive lithium-ion battery cell market in 2023. The regions covered in the automotive lithium-ion battery cell market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Automotive Lithium-ion Battery Cell Market Report Structure
3. Automotive Lithium-ion Battery Cell Market Trends And Strategies
4. Automotive Lithium-ion Battery Cell Market - Macro Economic Scenario
5. Automotive Lithium-ion Battery Cell Market Size And Growth
…..
27. Automotive Lithium-ion Battery Cell Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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