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Key Trends Reshaping the Automotive Lithium-ion Battery Cell Market: Technological Advancements To Provide Enhanced Solutions Industry Transformation
Automotive Lithium-ion Battery Cell Market Size
Automotive Lithium-ion Battery Cell Market Size Growth Forecast: What to Expect by 2025?
The exponential growth of the automotive lithium-ion battery cell market has been marked in the recent times. The size of the market is anticipated to grow from $100.66 billion in 2024 to $127.08 billion in 2025, showcasing a compound annual growth rate (CAGR) of 26.3%. The growth experienced in the historic duration is due to the increasing prominence of electric vehicles, government subsidies, the targets set for reducing emissions, consumers' growing acceptance, amplified production, and strategic collaborations and partnerships.
How Will the Automotive Lithium-ion Battery Cell Market Size Evolve and Grow by 2029?
In the coming years, the automotive lithium-ion battery cell market is set to witness substantial growth. It is projected to expand to a whopping $308.26 billion by 2029, with a Compound Annual Growth Rate (CAGR) of 24.8%. Factors contributing to this predicted growth in the forecast period include the broadening of the EV market, roles in energy storage applications, government policies, a decrease in battery prices, and investments in research and development. The forecast period will also observe key trends like enhanced energy density, progress in solid-state batteries, boosted growth in the adoption of electric vehicles (EV), diversification of the supply chain, recycling and sustainability efforts, and the incorporation of battery management systems (BMS).
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What Drivers Are Propelling the Growth of Automotive Lithium-ion Battery Cell Market Forward?
The global surge in vehicle electrification is predicted to foster progress in the automotive lithium-ion battery cell market. The term vehicle electrification denotes the substitution of components which were initially powered by conventional energy with components that utilize electricity. Lithium-ion batteries are frequently employed in this context owing to their high energy density and capacity to deliver high power output. They are capable of storing copious amounts of energy in a compact, lightweight package and their rate of self-discharge is lower than other types of batteries, making them perfect for vehicle electrification. As an example, the Organisation Internationale des Constructeurs d'Automobiles (OICA), an international association of car manufacturers based in France, reported a considerable growth in the global automotive industry in 2023, with a total vehicle production of 93546599 units, a marked surge from the 85016728 units produced in 2022. Consequently, the accelerating trend of vehicle electrification worldwide is expected to stimulate the automotive lithium-ion battery cell market.
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Which Emerging Trends Are Transforming the Automotive Lithium-ion Battery Cell Market in 2025?
Emerging technologies are becoming a significant trend in the vehicle lithium-ion battery cell sector. Top players in the industry are concentrating their efforts on crafting innovative solutions to cement their market standing. Natrion Inc., an American automotive part and battery maker, in October 2022, introduced its patented solid-electrolyte separator, LISIC278. This novel material is intended for use in Li-ion battery cells with graphite anodes for EV cells. It is a reengineered version of Natrion's unique Lithium Solid Ionic Composite (LISIC) electrolyte, meant to duplicate the exact specifications of a standard polyolefin separator but using considerably less liquid electrolyte. This is accomplished by offering robust ion transport abilities at room temperatures, along with a thermal resistance of more than 200°C and full density (no porosity). LISIC batteries have an extremely low fire hazard, substantially reducing the chance of a thermal event escalating.
What Are the Key Segments in the Automotive Lithium-ion Battery Cell Market?
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
Subsegments:
1) By Lithium Iron Phosphate (LFP): Standard LFP Cells, High-Energy LFP Cells
2) By Lithium Cobalt Oxide (LCO): Standard LCO Cells, High-performance LCO Cells
3) By Lithium Manganese Oxide (LMO): Standard LMO Cells, High-capacity LMO Cells
4) By Lithium Nickel Manganese Cobalt Oxide (NMC): NMC 111 (1:1:1 Ratio), NMC 532 (5:3:2 Ratio), NMC 622 (6:2:2 Ratio), NMC 811 (8:1:1 Ratio)
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Who Are the Key Players Shaping the Automotive Lithium-ion Battery Cell Market's Competitive Landscape?
Major companies operating in the automotive lithium-ion battery cell market include Samsung SDI Co. Ltd., Toshiba Corporation, Contemporary Ampere Technology Co. Ltd., LG Chem Ltd., GS Yuasa International Ltd., Johnson Controls International Plc, Panasonic Corporation, BYD Company Ltd., Automotive Energy Supply Corp., A123 Systems LLC, Exicom Power Solutions, Tesla Inc., Hitachi Ltd., NEC Corporation, Envision AESC Limited, Amp Technology Limited, 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.
What Geographic Markets Are Powering Growth in the Automotive Lithium-ion Battery Cell Market?
Asia-Pacific was the largest region in the automotive lithium-ion battery cell market in 2024. 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
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