2021 Lithium Ion Battery Market - Size, Share, COVID Impact Analysis and Forecast to 2027
The global Lithium Ion Battery Market is expected to grow from USD 40.5 billion in 2020 to USD 91.9 billion in 2026 with a compounded annual growth rate of 14.63%.
Demand for electric vehicles is forecast at 19.1% CAGR over the forecast period to 2026, with strong sales volume in developing countries. The US, China, Japan, India and other countries present strong potential for growth in batteries.
Major Trends, Drivers & Challenges
Strong demand from consumer electronic market -
Global consumer electronics industry is witnessing rapid growth driven by increasing final consumption expenditures of households, decreasing prices of consumer electronic products and increasing interest in these goods. The industry is expected to record $ 55 billion market size by 2025.
Shift in global energy mix -
To reduce oil dependency and to shift towards reliable energy sources for growing population and economic development, the shift in global primary energy mix is being observed worldwide. Power generation through solar, wind and other renewable sources remain major users of lithium ion batteries, which will support the market growth.
Lithium supply demand challenges cause price fluctuations -
Albemarle, SQM, Sichuan Tianqi Lithium Industries, and FMC Technologies are among the leading lithium supplying companies, accounting for more than three-fourth of total market supply. Deposits of lithium are largely concentrated in South and Central America and accordingly, the global supply is dependent on several factors out of the control of consumers.
Consumer Electronics remains the most Dominant segment in the Lithium Ion Battery Type worldwide with 36.1% market share in 2020.
LCO remains the most Dominant segment in the Lithium Ion Battery Type worldwide with 31.4% market share in 2020. LFP (Lithium iron phosphate) batteries are largely deployed in power tools, electric vehicles and power installations. These batteries use LiFePO4 as their cathode material. Key features include high stability, superior density, long battery life and economical.
North America Lithium Ion Battery market accounts for 23.9% of global market value in 2020 and is forecast to reach USD $21. 1 billion in 2026, registering a growth rate (CAGR) of 13.82% between 2020 and 2026.
Samsung SDI Co., Ltd.
BYD Co., Ltd.
Koninklijke Philips N.V
Lithium Ion Battery Market, By Type
Lithium Cobalt Oxide (LCO)
Lithium Iron Phosphate (LFP)
Lithium Nickel Manganese Cobalt (LI-NMC)
Lithium Manganese Oxide (LMO)
Lithium Titanate Oxide (LTO)
Lithium Nickel Cobalt Aluminum Oxide (NCA)
Lithium Ion Battery Market, By Application
Consumer Electronics Automotive
Industrial Energy Storage
Lithium Ion Battery Market, By Region
North America (USA, Canada, Mexico)
Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe)
Asia-Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
Middle East and Africa (Saudi Arabia, South Africa, Rest of MEA)
South and Central America (Brazil, Argentina, Chile, Rest of SCA)
The report- ‘2021 Lithium Ion Battery Market - Size, Share, COVID Impact Analysis and Forecast to 2027’ presents growth projections in the Lithium Ion Battery Market between 2021 and 2027 for companies operating across different types, applications, and end-user verticals.
Short-term and long-term trends affecting the market landscape are included in the research. Further, market drivers, restraints, and potential opportunities are also provided in the report.
The Lithium Ion Battery Market report computes the 2020 market value in revenue terms based on the average Lithium Ion Battery prices and sales/revenue models of key companies operating in the Lithium Ion Battery Industry. The study forecasts the market size to 2027 for different types of Lithium Ion Battery and provides respective market share and growth rates.
The study discusses technological innovations and the potential shift in demand among various products in the Lithium Ion Battery Market, over the forecast period. The leading five companies in the Lithium Ion Battery Industry together with their products, key strategies, and comparisons are provided.
The Lithium Ion Battery Market size, share, and outlook across different types and applications are provided at geographic levels of North America, Asia Pacific, Europe, Middle East Africa, South and Central America. Further, country-level Lithium Ion Battery Market value is also provided.
All recent developments in Lithium Ion Battery Industry including mergers, acquisitions, contract awards, licenses, product launches, and expansion plans are included in the report.
Base Year- 2020; Forecast period: 2021- 2027
Publication frequency- Every six months
Research Methodology- Data triangulation with top-down and Bottom-up approach are used for market size
Scope of the Report -
Global Lithium Ion Battery Industry size, 2020- 2027
Market trends, drivers, restraints, and opportunities
Porter’s Five forces analysis
Types of Lithium Ion Battery , 2020-2027
Lithium Ion Battery applications and end-user verticals market size, 2020- 2027
Lithium Ion Battery Market size across countries, 2020- 2027
5 leading companies in the industry- overview, key strategies, financials, and products
Latest market news and developments
Additional support -
All the data presented in tables and charts of the report is provided in a separate Excel document
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10% free customization to include any specific data/analysis to match with the requirement
3 months of analyst support
Please Note: The report will be delivered in two working days after purchase of the report.
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