Lithium Ion Battery Market to 2025 - Global Analysis and Forecasts Type (Lithium Cobalt Oxide, Lithium Iron Phosphate, Lithium Nickel Manganese Cobalt Oxide, Lithium Manganese Oxide, Lithium Titanate Oxide), by Power Capacity (0 - 3000mAh, 3000 - 10000mAh, 10000mAh - 60000mAh, and >60000mAh), by Application (Consumer Electronics, Automotive, Industrial, Energy Storage Systems, Aerospace & defense, Medical Devices, and Others)
The global Lithium-Ion Battery market was valued at US$ 23,489.0 Mn in 2017 and is expected to grow at a CAGR of 14.9% during the forecast period 2018 - 2025, to account to US$ 71,035.0 Mn by 2025.
This research report provides insights into the Global Lithium-ion battery market. The segmentation scope of the Lithium-ion battery market includes type, application, power capacity and countries globally. Batteries based on type includes Li-Co oxide, Li- ion phosphate Li-Titanate Oxide, Li Manganese Oxide and Li Ni Manganese CO Oxide. The report on lithium-ion battery market also analyses industry structure, market environment, key trends, growth drivers, and challenges. In-depth analysis has been conducted across the value chain, and company profiles and top companies operating globally have also been included in the lithium-ion battery market report. The Lithium-ion battery that is used for energy storage and power provisioning to various industry verticals is currently experiencing very high adoptions especially by the automotive and consumer electronics industry verticals. Advantages such as higher energy efficiency, and extended battery life provided by these batteries are leading to wider adoptions, ultimately driving the lithium-ion battery market. In the current scenario almost all the computer electronics, smartphones, tablets, and other consumer electronic devices are powered by a Lithium-ion battery, which is catalyzing the growth of lithium-ion battery market. The development of advanced energy storage technologies is a critical factor in the success of the decarbonisation of modern economies.
Modern devices rely more on Lithium-ion batteries which are extensively used in different types of consumer electronics and hybrid & electric vehicles. Along with this, the demand for wearable devices is getting higher such as smart watches and healthcare bands etc. The customers are demanding more from these industries in terms of energy storage, the speed of recharge, and working conditions. Currently, Li-Cobalt Oxide battery, Lithium-ion Phosphate battery, Li-Titanate battery, Li-Manganese Oxide, and Li-Nickel Manganese Cobalt Oxide battery are few of the highly used Lithium-ion batteries. However, there are certain heat-related issues related to the use of Lithium-ion batteries. Thus, many of the several research institutes and organizations are experimenting with many alternative approaches to battery market. Also, lithium-sulfur battery technology is gaining traction which can hold twice the energy per kilogram as compared to Lithium-ion batteries. Li-sulfur battery is lightweight as compared to Lithium-ion cell, which can be used in powering unmanned aircraft and underwater robots. This battery technology may replace Lithium-ion batteries in the coming future owing to economical cost, less weight, and able to store double the energy compared to Lithium-ion batteries. Coupled with this, sodium-ion battery also shows superior performance which is expected to commercialize in near future and may act as an alternative to Lithium-ion batteries. Currently, low performance of anode in sodium ion battery limits its entire shift from Lithium-ion battery. Aforementioned factors depict that of lithium-air, lithium-sulfur, and sodium-ion batteries may act as an economical alternative for Lithium-ion batteries
Based upon the regional diversification, APAC is the major contributor to the lithium-ion battery market followed by North America and Europe. Also, in coming years the Asia Pacific is expected to maintain its dominance with positive growth opportunities owing to the shift of electronics and automotive production in this region. China is a growing market for Lithium-ion batteries with the support of government initiatives such as subsidies of ~$10k for purchases of electronic vehicles. The rapidly increasing automotive industry especially electric vehicles and the consumer electronics market in developing nations offers a worthy growth opportunity to the Lithium-ion battery market during the forecast period.
The prominent players operating in Lithium-ion battery market globally includes Automotive Energy Supply Corporation, Samsung SDI Co. Ltd., Tesla Inc., Toshiba Corporation, A123 Systems LLC, GS Yuasa Systems LLC, Hitachi Chemical Co. Ltd., LG Chem Ltd., Panasonic Corporation, and Johnson Control International Plc. among others. Several tier-2 and tier-3 companies are also working in the lithium-ion battery market globally, facilitating the end users to opt for different types of lithium-ion batteries, thereby, creating a substantial market opportunity to Lithium-ion battery market.