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Lithium-Ion Battery Market

Publisher Fortune Business Insights Pvt. Ltd.
Published Oct 01, 2024
Length 220 Pages
SKU # FOB19224277

Description

Lithium-Ion Battery Market



Growth Factors of Lithium-Ion Battery Market

The lithium-ion battery market size was valued at USD 64.84 billion in 2023, and the market is now projected to grow from USD 79.44 billion in 2024 to USD 446.85 billion by 2032, exhibiting a CAGR of 23.33% during the forecast period of 2024-2032.

The COVID-19 outbreak threatened the lithium-ion battery market growth with limitations in the supply chain affecting essential materials, including lithium and cobalt, mainly imported from Asia Pacific. Currently, China accounts for 80% of the global production affected by the lockdown measures seen in travel restrictions and power plant closures. This revealed a high reliance on the region for raw materials that impacted the market dynamics 2020.

The increased usage of lithium-ion batteries in power grids and energy storage systems is evidenced by their lower cost, lower installation area requirement and lower self-discharge rate. The demand for energy storage systems, high capital costs and stringent government emissions standards help drive lithium-ion battery market share. These batteries are intended for renewable energy storage and are well suited for high-temperature use, making them suitable for use in remote locations and thermal regulation applications.

Also, the increased sales of electric vehicles are contributing towards climate change impact reduction since they operationalize fewer carbon dioxide emissions than conventional combustion engines. Governments across the globe are adopting policies on environmental friendliness hence enhancing lithium-ion battery usage. Such batteries are widely employed in electric cars with leading automobile companies such as Tesla at the frontline. Europe for example has implemented stringent emission standards for vehicles and is actively supporting the development of electric transportation systems thus catalyzing market development even further.

Comprehensive Analysis of Lithium-Ion Battery Market

The power & energy industry together with the lithium-ion battery market is increasing at a faster growth slope as a result of applying the concept of market segmentation. This market expansion offers an elaborate regional analysis taking into account the strength of the supply and demand forces that define the power industry. These segmentations are systematically separated by types and by applications. The type include, Lithium Cobalt Oxide, Lithium Iron Phosphate, Lithium Nickel Cobalt Aluminum Oxide, Lithium Manganese Oxide, Lithium Nickel Manganese Cobalt and Lithium Titanate Oxide. The applications include, Consumer Electronics, Automotive, Energy Storage System, Industrial and Others.

Asia Pacific has emerged as the prominent region for the market throughout the forecast period. China is said to be the world's largest market for electric vehicles, with Japan coming second. Li-ion batteries are specially incorporated widely into the automotive industry. Furthermore, the increasing global need for smartphones, laptops and other related products in other countries including China, India, Japan and Singapore is expected to boost the market in the region.

The market leaders significantly influence the power & energy industry to ensure industrial prospectus growth while establishing market benchmarks. These players include, BYD Company (China), LG Chem (South Korea), Contemporary Amperex Technology Co. Ltd (CATL) (China), Samsung SDI (South Korea), Panasonic Corporation (Japan), BAK Power (China), Clarios (Germany), Toshiba Corporation (Japan), Hitachi (Japan), Automotive Energy Supply Corporation (Japan), A123 System (U.S.) and Saft Group S.A. (France). These market players give a level-playing field competitive environment.

In February 2024, Panasonic Energy Co. Ltd., a Panasonic Group Company, announced it has recently made safe EV batteries and has entered into a long-term business partnership with H&T Recharge, a leading battery component manufacturer in North America for lithium-ion battery cans.

Segmentation Table

Global Lithium-Ion Battery Market Scope

Study Period 2019-2032

Base Year 2023

Forecast Period 2024-2032

Growth Rate CAGR of 23.33% from 2024 to 2032

Historical Period 2019-2022

Unit Value (USD Billion) and Volume (GWh)

Segmentation By Type, Application, and Region

By Type
  • Lithium Cobalt Oxide
    • Lithium Iron Phosphate
    • Lithium Nickel Cobalt Aluminum Oxide
    • Lithium Manganese Oxide
    • Lithium Nickel Manganese Cobalt
    • Lithium Titanate Oxide
    By Application
  • Automotive
    • Consumer Electronics
    • Energy Storage System
    • Industrial
    • Others
    By Region
  • North America (By Type, By Application, By Country)
    • U.S. (By Application)
    • Canada (By Application)
    • Europe (By Type, By Application, By Country)
    • U.K. (By Application)
    • Germany (By Application)
    • France (By Application)
    • Italy (By Application)
    • Spain (By Application)
    • Russia (By Application)
    • Rest of Europe (By Application)
    • Asia Pacific (By Type, By Application, By Country)
    • China (By Application)
    • India (By Application)
    • Japan (By Application)
    • Australia (By Application)
    • Southeast Asia (By Application)
    • Rest of Asia Pacific (By Application)
    • Latin America (By Type, By Application, By Country)
    • Brazil (By Application)
    • Mexico (By Application)
    • Rest of Latin America (By Application)
    • Middle East and Africa (By Type, By Application, By Country)
    • GCC (By Application)
    • South Africa (By Application)
    • Rest of Middle East & Africa (By Application)


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    Table of Contents

    220 Pages
    1. Introduction
    1.1. Research Scope
    1.2. Market Segmentation
    1.3. Research Methodology
    1.4. Definitions and Assumptions
    2. Executive Summary
    3. Market Dynamics
    3.1. Market Drivers
    3.2. Market Restraints
    3.3. Market Opportunities
    4. Key Insights
    4.1. Key Emerging Trends
    4.2. Key Developments: Mergers, Acquisitions, Partnership, etc.
    4.3. Latest Technological Advancement
    4.4. Regulatory Landscape
    4.5. Porters Five Forces Analysis
    4.6. Impact of COVID-19 on Lithium-Ion Battery Market
    5. Global Lithium-Ion Battery Market Analysis (USD Billion) (GWh), Insights and Forecast, 2019-2032
    5.1. Key Findings / Summary
    5.2. Market Analysis, Insights and Forecast – By Type
    5.2.1. Lithium Cobalt Oxide
    5.2.2. Lithium Iron Phosphate
    5.2.3. Lithium Nickel Cobalt Aluminum Oxide
    5.2.4. Lithium Manganese Oxide
    5.2.5. Lithium Nickel Manganese Cobalt
    5.2.6. Lithium Titanate Oxide
    5.3. Market Analysis, Insights and Forecast – By Application
    5.3.1. Consumer Electronics
    5.3.2. Automotive
    5.3.3. Energy Storage System
    5.3.4. Industrial
    5.3.5. Others
    5.4. Market Analysis, Insights and Forecast – By Region
    5.4.1. North America
    5.4.2. Europe
    5.4.3. Asia Pacific
    5.4.4. Latin America
    5.4.5. Middle East & Africa
    6. North America Lithium-Ion Battery Market Analysis (USD Billion) (GWh), Insights and Forecast, 2019-2032
    6.1. Key Findings / Summary
    6.2. Market Analysis, Insights and Forecast – By Type
    6.2.1. Lithium Cobalt Oxide
    6.2.2. Lithium Iron Phosphate
    6.2.3. Lithium Nickel Cobalt Aluminum Oxide
    6.2.4. Lithium Manganese Oxide
    6.2.5. Lithium Nickel Manganese Cobalt
    6.2.6. Lithium Titanate Oxide
    6.3. Market Analysis, Insights and Forecast – By Application
    6.3.1. Consumer Electronics
    6.3.2. Automotive
    6.3.3. Energy Storage System
    6.3.4. Industrial
    6.3.5. Others
    6.4. Market Analysis, Insights and Forecast – By Country
    6.4.1. U.S. Market Analysis, Insights and Forecast – By Application
    6.4.1.1. Consumer Electronics
    6.4.1.2. Automotive
    6.4.1.3. Energy Storage System
    6.4.1.4. Industrial
    6.4.1.5. Others
    6.4.2. Canada Market Analysis, Insights and Forecast – By Application
    6.4.2.1. Consumer Electronics
    6.4.2.2. Automotive
    6.4.2.3. Energy Storage System
    6.4.2.4. Industrial
    6.4.2.5. Others
    7. Europe Lithium-Ion Battery Market Analysis (USD Billion) (GWh), Insights and Forecast, 2019-2032
    7.1. Key Findings / Summary
    7.2. Market Analysis, Insights and Forecast – By Type
    7.2.1. Lithium Cobalt Oxide
    7.2.2. Lithium Iron Phosphate
    7.2.3. Lithium Nickel Cobalt Aluminum Oxide
    7.2.4. Lithium Manganese Oxide
    7.2.5. Lithium Nickel Manganese Cobalt
    7.2.6. Lithium Titanate Oxide
    7.3. Market Analysis, Insights and Forecast – By Application
    7.3.1. Consumer Electronics
    7.3.2. Automotive
    7.3.3. Energy Storage System
    7.3.4. Industrial
    7.3.5. Others
    7.4. Market Analysis, Insights and Forecast – By Country
    7.4.1. UK Market Analysis, Insights and Forecast – By Application
    7.4.1.1. Consumer Electronics
    7.4.1.2. Automotive
    7.4.1.3. Energy Storage System
    7.4.1.4. Industrial
    7.4.1.5. Others
    7.4.2. France Market Analysis, Insights and Forecast – By Application
    7.4.2.1. Consumer Electronics
    7.4.2.2. Automotive
    7.4.2.3. Energy Storage System
    7.4.2.4. Industrial
    7.4.2.5. Others
    7.4.3. Germany Market Analysis, Insights and Forecast – By Application
    7.4.3.1. Consumer Electronics
    7.4.3.2. Automotive
    7.4.3.3. Energy Storage System
    7.4.3.4. Industrial
    7.4.3.5. Others
    7.4.4. Italy Market Analysis, Insights and Forecast – By Application
    7.4.4.1. Consumer Electronics
    7.4.4.2. Automotive
    7.4.4.3. Energy Storage System
    7.4.4.4. Industrial
    7.4.4.5. Others
    7.4.5. Spain Market Analysis, Insights and Forecast – By Application
    7.4.5.1. Consumer Electronics
    7.4.5.2. Automotive
    7.4.5.3. Energy Storage System
    7.4.5.4. Industrial
    7.4.5.5. Others
    7.4.6. Russia Market Analysis, Insights and Forecast – By Application
    7.4.6.1. Consumer Electronics
    7.4.6.2. Automotive
    7.4.6.3. Energy Storage System
    7.4.6.4. Industrial
    7.4.6.5. Others
    7.4.7. Rest of Europe Market Analysis, Insights and Forecast – By Application
    7.4.7.1. Consumer Electronics
    7.4.7.2. Automotive
    7.4.7.3. Energy Storage System
    7.4.7.4. Industrial
    7.4.7.5. Others
    8. Asia Pacific Lithium-Ion Battery Market Analysis (USD Billion) (GWh), Insights and Forecast, 2019-2032
    8.1. Key Findings / Summary
    8.2. Market Analysis, Insights and Forecast – By Type
    8.2.1. Lithium Cobalt Oxide
    8.2.2. Lithium Iron Phosphate
    8.2.3. Lithium Nickel Cobalt Aluminum Oxide
    8.2.4. Lithium Manganese Oxide
    8.2.5. Lithium Nickel Manganese Cobalt
    8.2.6. Lithium Titanate Oxide
    8.3. Market Analysis, Insights and Forecast – By Application
    8.3.1. Consumer Electronics
    8.3.2. Automotive
    8.3.3. Energy Storage System
    8.3.4. Industrial
    8.3.5. Others
    8.4. Market Analysis, Insights and Forecast – By Country
    8.4.1. China Market Analysis, Insights and Forecast – By Application
    8.4.1.1. Consumer Electronics
    8.4.1.2. Automotive
    8.4.1.3. Energy Storage System
    8.4.1.4. Industrial
    8.4.1.5. Others
    8.4.2. India Market Analysis, Insights and Forecast – By Application
    8.4.2.1. Consumer Electronics
    8.4.2.2. Automotive
    8.4.2.3. Energy Storage System
    8.4.2.4. Industrial
    8.4.2.5. Others
    8.4.3. Japan Market Analysis, Insights and Forecast – By Application
    8.4.3.1. Consumer Electronics
    8.4.3.2. Automotive
    8.4.3.3. Energy Storage System
    8.4.3.4. Industrial
    8.4.3.5. Others
    8.4.4. Australia Market Analysis, Insights and Forecast – By Application
    8.4.4.1. Consumer Electronics
    8.4.4.2. Automotive
    8.4.4.3. Energy Storage System
    8.4.4.4. Industrial
    8.4.4.5. Others
    8.4.5. Southeast Asia Market Analysis, Insights and Forecast – By Application
    8.4.5.1. Consumer Electronics
    8.4.5.2. Automotive
    8.4.5.3. Energy Storage System
    8.4.5.4. Industrial
    8.4.5.5. Others
    8.4.6. Rest of Asia Pacific Market Analysis, Insights and Forecast – By Application
    8.4.6.1. Consumer Electronics
    8.4.6.2. Automotive
    8.4.6.3. Energy Storage System
    8.4.6.4. Industrial
    8.4.6.5. Others
    9. Latin America Lithium-Ion Battery Market Analysis (USD Billion) (GWh), Insights and Forecast, 2019-2032
    9.1. Key Findings / Summary
    9.2. Market Analysis, Insights and Forecast – By Type
    9.2.1. Lithium Cobalt Oxide
    9.2.2. Lithium Iron Phosphate
    9.2.3. Lithium Nickel Cobalt Aluminum Oxide
    9.2.4. Lithium Manganese Oxide
    9.2.5. Lithium Nickel Manganese Cobalt
    9.2.6. Lithium Titanate Oxide
    9.3. Market Analysis, Insights and Forecast – By Application
    9.3.1. Consumer Electronics
    9.3.2. Automotive
    9.3.3. Energy Storage System
    9.3.4. Industrial
    9.3.5. Others
    9.4. Market Analysis, Insights and Forecast – By Country
    9.4.1. Brazil Market Analysis, Insights and Forecast – By Application
    9.4.1.1. Consumer Electronics
    9.4.1.2. Automotive
    9.4.1.3. Energy Storage System
    9.4.1.4. Industrial
    9.4.1.5. Others
    9.4.2. Mexico Market Analysis, Insights and Forecast – By Application
    9.4.2.1. Consumer Electronics
    9.4.2.2. Automotive
    9.4.2.3. Energy Storage System
    9.4.2.4. Industrial
    9.4.2.5. Others
    9.4.3. Rest of Latin America Market Analysis, Insights and Forecast – By Application
    9.4.3.1. Consumer Electronics
    9.4.3.2. Automotive
    9.4.3.3. Energy Storage System
    9.4.3.4. Industrial
    9.4.3.5. Others
    10. Middle East & Africa Lithium-Ion Battery Market Analysis (USD Billion) (GWh), Insights and Forecast, 2019-2032
    10.1. Key Findings / Summary
    10.2. Market Analysis, Insights and Forecast – By Type
    10.2.1. Lithium Cobalt Oxide
    10.2.2. Lithium Iron Phosphate
    10.2.3. Lithium Nickel Cobalt Aluminum Oxide
    10.2.4. Lithium Manganese Oxide
    10.2.5. Lithium Nickel Manganese Cobalt
    10.2.6. Lithium Titanate Oxide
    10.3. Market Analysis, Insights and Forecast – By Application
    10.3.1. Consumer Electronics
    10.3.2. Automotive
    10.3.3. Energy Storage System
    10.3.4. Industrial
    10.3.5. Others
    10.4. Market Analysis, Insights and Forecast – By Country
    10.4.1. GCC Market Analysis, Insights and Forecast – By Application
    10.4.1.1. Consumer Electronics
    10.4.1.2. Automotive
    10.4.1.3. Energy Storage System
    10.4.1.4. Industrial
    10.4.1.5. Others
    10.4.2. South Africa Market Analysis, Insights and Forecast – By Application
    10.4.2.1. Consumer Electronics
    10.4.2.2. Automotive
    10.4.2.3. Energy Storage System
    10.4.2.4. Industrial
    10.4.2.5. Others
    10.4.3. Rest of Middle East & Africa Market Analysis, Insights and Forecast – By Application
    10.4.3.1. Consumer Electronics
    10.4.3.2. Automotive
    10.4.3.3. Energy Storage System
    10.4.3.4. Industrial
    10.4.3.5. Others
    11. Competitive Analysis
    11.1. Company Market Share Analysis, 2023
    11.2. Company Profile
    11.2.1. BYD Company
    11.2.1.1. Business Overview
    11.2.1.2. Product & Service Offering
    11.2.1.3. Overall Revenue
    11.2.1.4. Recent Development
    11.2.2. LG Chem
    11.2.2.1. Business Overview
    11.2.2.2. Product & Service Offering
    11.2.2.3. Overall Revenue
    11.2.2.4. Recent Development
    11.2.3. CATL
    11.2.3.1. Business Overview
    11.2.3.2. Product & Service Offering
    11.2.3.3. Overall Revenue
    11.2.3.4. Recent Development
    11.2.4. Samsung SDI
    11.2.4.1. Business Overview
    11.2.4.2. Product & Service Offering
    11.2.4.3. Overall Revenue
    11.2.4.4. Recent Development
    11.2.5. Panasonic Corporation
    11.2.5.1. Business Overview
    11.2.5.2. Product & Service Offering
    11.2.5.3. Overall Revenue
    11.2.5.4. Recent Development
    11.2.6. BAK Power
    11.2.6.1. Business Overview
    11.2.6.2. Product & Service Offering
    11.2.6.3. Overall Revenue
    11.2.6.4. Recent Development
    11.2.7. Clarios
    11.2.7.1. Business Overview
    11.2.7.2. Product & Service Offering
    11.2.7.3. Overall Revenue
    11.2.7.4. Recent Development
    11.2.8. Toshiba Corporation
    11.2.8.1. Business Overview
    11.2.8.2. Product & Service Offering
    11.2.8.3. Overall Revenue
    11.2.8.4. Recent Development
    11.2.9. Hitachi
    11.2.9.1. Business Overview
    11.2.9.2. Product & Service Offering
    11.2.9.3. Overall Revenue
    11.2.9.4. Recent Development
    11.2.10. A123 System
    11.2.10.1. Business Overview
    11.2.10.2. Product & Service Offering
    11.2.10.3. Overall Revenue
    11.2.10.4. Recent Development
    11.2.11. Saft Group S.A.
    11.2.11.1. Business Overview
    11.2.11.2. Product & Service Offering
    11.2.11.3. Overall Revenue
    11.2.11.4. Recent Development
    11.2.12. AESC Corporation
    11.2.12.1. Business Overview
    11.2.12.2. Product & Service Offering
    11.2.12.3. Overall Revenue
    11.2.12.4. Recent Development

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