Lithium-Ion Battery Market Research Report

 

Growth opportunities in the lithium-ion battery market look promising over the next six years. This is mainly due to the increasing adoption of consumer electronics, the accelerating demand for plug-in vehicles, and the rising number of R&D activities by producers and battery manufacturers.

 

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Lithium-Ion Battery Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)

Key Drivers

The accelerating number of research and development activities by businesses and battery producers, the benefits provided by Li-ion batteries, and the growing acquisition of consumer electronics are crucial drivers responsible for the growth of lithium-ion batteries. Also, the augmenting demand for plug-in vehicles, coupled with the increasing need to bring automation and battery-operated material handling equipment in industries, will strengthen the market size. With fast digitalization and globalization, people are seeking smart devices to bring automation into their lives. This factor and the proliferated demand for industrial goods, paves the way for market growth.
The escalating number of nuclear power plants and PV installations and the initiation of wind energy projects like the New Wind Energy Project will contribute to the market growth. Moreover, the surging off-grid installations, primarily in the U.S., Germany, and China, are fuelling the market demand. These batteries are extensively used in power tools, digital cameras, and smartphones.

 

Type Segment Drivers:

Based on the type, Lithium Nickel Manganese Cobalt is projected to experience a faster CAGR over the forecast period. This is due to the growing usage of these batteries in many industries owing to their properties including better strength, excellent stability, good charge, and discharge cycle. Additionally, the fuelling acceptance of nickel manganese cobalt in batteries of smartphones, power tools, laptops, tablets, automotive, and electrical storage systems will raise the market growth.

 

Regional Drivers

On the basis of the regional coverage, North American is expected to dominate the market over the forecast period. China is considered the global hub for automotive manufacturing and is witnessing an upliftment in demand for these batteries. Moreover, the enlarged production of electric vehicles and lithium-ion batteries in vehicles will fuel the market growth.

 

Lithium-Ion Battery Market’s leading Manufacturers:

·        Valence Technology, Inc.

·        GS Yuasa Corporation

·        BAK Group

·        Johnson Controls

·        Panasonic Corporation

·        Toshiba Corporation

·        BYD Company Ltd.

·        Hitachi Ltd.

·        LG Chem Ltd.

·        Samsung SDI Co. Ltd.

Lithium-Ion Battery Market Segmentation:

Segmentation by Type:

·        Lithium Nickel Manganese Cobalt (Li-NMC)

·        Lithium Iron Phosphate (LFP)

·        Lithium Cobalt Oxide (LCO)

·        Lithium Titanate Oxide (LTO)

·        Lithium Manganese Oxide (LMO)

·        Lithium Nickel Cobalt Aluminum Oxide (NCA)

Segmentation by Products:

·        Cell

·        Battery Pack

Segmentation by Power Capacity:

·        Less Than 3,000 mAH

·        3,000 TO 10,000 mAH

·        10,000 TO 60,000 mAH

·        More Than 60,000 mAH

Segmentation by Voltage:

·        Low (Below 12 V)

·        Medium (12 V – 36 V)

·        High (Above 36 V)

Segmentation by Industry:

·        Consumer Electronics

o   Smartphones

o   UPS

o   Laptops

o   Others(Games, Gardening Tools, and Drilling)

·        Automotive

o   Battery Electric Vehicles

o   Plug-In Hybrid Electric Vehicles

·        Aerospace & Defense

o   Commercial Aircrafts

o   Defense

·        Marine

o   Commercial

o   Tourism

o   Defense

·        Medical

·        Industrial

o   Mining equipment

o   construction equipment

o   Forklifts, automated guided vehicles (AGV), and automated mobile robots (AMR).

·        Power

·        Telecommunication

Segmentation by Region:

·        North America

o   United States of America

o   Canada

 

·        Asia Pacific

o   China

o   Japan

o   India

o   Rest of APAC

·        Europe

o   United Kingdom

o   Germany

o   France

o   Spain

o   Rest of Europe

·        RoW

o   Brazil

o   South Africa

o   Saudi Arabia

o   UAE

o   Rest of the world (remaining countries of the LAMEA region)

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