Press release
Global Automotive Lithium-ion Battery Cell Market: Explosive Growth to Reach $127.08 Billion by 2025 with a CAGR of 26.3%
Global Automotive Lithium-ion Battery Cell Market
What Is The Projected Market Size Of The Global Automotive Lithium-ion Battery Cell Market And Its Growth Rate?
The automotive lithium-ion battery cell market has shown significant growth in the recent years with promising future projections and segmentation. Below are key statistics:
• The market size is projected to grow from $100.66 billion in 2024 to $127.08 billion in 2025
• The Compound Annual Growth Rate (CAGR) during this period is estimated to be 26.3%
• This growth is primarily attributed to the rise of electric vehicles, government incentives, emission reduction targets, increasing consumer acceptance, scaling up production, collaborations, and partnerships.
What Is Driving The Growth In The Automotive Lithium-ion Battery Cell Market?
The automotive lithium-ion battery cell market is driven by the rise in vehicle electrification. Battery Electric Vehicles (BEVs), Plug-In Hybrid Electric Vehicles (PHEVs), and Fuel-Cell Electric vehicles (FCEVs) are increasingly integrating lithium-ion battery cells due to their high energy density, long cycle life, and safety features. These factors collectively contribute to the increasing adoption of lithium-ion battery cells in the automotive sector.
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Who Are the Key Players Driving Automotive Lithium-ion Battery Cell Market Growth?
Growth in the automotive lithium-ion battery cell market is significantly supported by the burgeoning charging infrastructure. Key contributors to this growth include:
• The expanding network of charging stations which enable efficient charging of electric vehicles.
• Recent data from the U.S. Department of Transportation (DOT), which indicates a dramatic increase in the number of EV charging stations in recent years.
What Are The Key Trends In The Automotive Lithium-ion Battery Cell Market?
The automotive lithium-ion battery cell market continues to evolve, influenced by several key trends:
• Noteworthy rise in electric vehicles
• Beneficial government initiatives and incentives
• Urgent need for emission reduction measures
• Growing consumer acceptance for EVs
• Increase in production scale of automotive lithium-ion battery cells
• Collaborations and strategic partnerships in the industry.
What Are The Segments Of The Global Automotive Lithium-ion Battery Cell Market?
The automotive lithium-ion battery cell market can be segmented by type of lithium compound and cell type used. They include -
1) Lithium Iron Phosphate (LFP)
2) Lithium Cobalt Oxide (LCO)
3) Lithium Manganese Oxide (LMO)
4) Lithium Nickel Manganese Cobalt Oxide (NMC)
5) Cell Types: Cylindrical, Prismatic, Pouch Cells
6) Applications: Battery Electric Vehicle (BEV), Plug-In Hybrid Electric Vehicle (PHEV), Fuel-Cell Electric Vehicle
Which Region Leads The Automotive Lithium-ion Battery Cell Market?
BorgWarner Inc., a US-based organization, acquired Germany-based AKASOL AG, a renowned producer of lithium-ion battery systems, marking a critical move towards capitalizing on the rapidly growing battery system market. This positioning boosts their commercial vehicle and industrial electrification capabilities significantly, indicating a strong future for the automotive lithium-ion battery cell market.
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What Is Covered In The Automotive Lithium-ion Battery Cell Market Global Market Report?
- Market Size Analysis: Analyze the Automotive Lithium-ion Battery Cell Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Automotive Lithium-ion Battery Cell Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Automotive Lithium-ion Battery Cell Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Automotive Lithium-ion Battery Cell Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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