Lithium-ion Battery Market - Capacity-wise, North America to Hold Significant Share

Competitive pricing, offering dedicated services, and developing innovative application-specific performance materials are some of the key strategies adopted by leading companies. Recognizing the potential lithium-ion batteries present in the automotive sector, Panasonic Corporation collaborated with Tesla Motors in 2014 to set up a new lithium-ion battery manufacturing company in North America.

Growing Use of Low Power Capacity Lithium-ion Batteries in Consumer Electronics

In terms of application, the lithium-ion battery market can be segmented into consumer electronics, automotive, and grid energy and industrial. Consumer electronics is projected to be the leading segment of the global lithium-ion battery market during the forecast period. This segment is anticipated to account for nearly half the market by 2024, driven mainly by the rising demand for low power capacity lithium-ion batteries to be used in smartphones.

Browse Market Research Report @ http://www.transparencymarketresearch.com/lithium-ion-battery-market.html

However, owing to market saturation in several regions, the demand for high power capacity batteries for automobiles has gained precedence. TMR predicts that the automotive segment will gain a significant share in the lithium-ion battery market by the end of 2024. The rising usage of these batteries in EVs, HEVs, and BEVs has primarily boosted this segment and this surge can be attributed to the increasing level of awareness among consumers and automobile manufacturers alike regarding the benefits of clean fuel.

Based on power capacity, the lithium-ion battery market can be segmented into 5–25 Wh, 48–95 Wh, 18–28 KWh, 100­–250 KWh, and more than 300 KWh. In terms of value, 5–25 Wh lithium-ion battery, which is primarily used in smartphones, is estimated to be the leading segment of the lithium-ion battery market during the forecast period, accounting for a share of more than 30% in 2015. The 18–28 KWh power capacity segment is projected to be a rapidly growing segment through 2024, owing to the high demand for electrical vehicles in the automotive sector.

Capacity-wise, North America to Hold Significant Share in Lithium-ion Battery Market

The lithium-ion battery market in Asia Pacific is expected to expand significantly during the forecast period due to the increased demand for these batteries in portable consumer electronic devices. China is anticipated to be the leading market for lithium-ion batteries in Asia Pacific as well as across the globe owing to the ever-rising population and high economic growth in the country. Major global leaders of lithium-ion batteries are concentrated in China, Japan, and South Korea.

North America holds a significant share in the lithium-ion battery market in terms of capacity. Increasing awareness about the benefits of lithium-ion batteries in the region has augmented the usage of these batteries as an alternate fuel in transportation. Major global players focus on the mass production of lithium-ion batteries in order to achieve lower costs and increase their market penetration.

The lithium-ion battery market in Europe and the Middle East and Africa offers a positive outlook for the automotive segment as the consumer electronics segment in many regions is about to reach saturation.

Fill the form for an exclusive sample of this report @ http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=251

Major players operating in the lithium-ion battery market include GA Yuasa Corporation, Automotive Energy Supply Corporation (AESC), Panasonic Corporation, Hitachi Chemical Co. Ltd., Johnson Controls, Inc., Samsung SDI Co. Ltd., LG Chem Power, Inc., and Toshiba Corporation.

The global lithium-ion batteries market is consolidated in nature, with the top three players accounting for a share of over 57% in 2025. Panasonic Corporation, Samsung SDI Co. Ltd., and LG Chem Power Inc. offer stiff competition to new entrants owing to the competitive advantage they possess in terms of the easy access to raw materials. Transparency Market Research predicts that the degree of rivalry in the lithium-ion battery market will remain high throughout the forecast period.

The opportunity in the global lithium-ion battery market is poised to rise from US$29.68 bn in 2015 to US$77.42 bn in 2024, registering a strong CAGR of 11.6% therein.

Transparency Market Research (TMR) is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather and analyze information.

Transparency Market Research
90 Sate Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com

This release was published on openPR.