The Lithium Ion Battery Market is forecasted to grow from USD 51.79 Billion in 2020 to USD 141.47 Billion by 2028, at a CAGR of 13.4%, during the forecast period. Lithium – ion batteries are increasingly being used as a hybrid and full – battery electric vehicle (BEV) power source.
Over the past couple of years, China, the US, and the European region have accounted for maximum sales of electric vehicles, which are primarily high-end electric vehicles. Roughly 1.6 million electric cars are on the roads in China until 2018, followed by 810,000 in the United States.
Furthermore, the falling battery prices, coupled with rising global automakers commitments, are expected to bring price – competitive electric vehicles to all the major light – duty vehicle segments as well, which in turn is expected to further increase demand for EVs, resulting in increased demand for lithium – ion batteries.
BEV production and sales in China reached 27,673 units and 24,127 units in March 2018, rising 88.35% and 69.21% year-on-year; and such figures for PHEVs were 11,210 units and 11,171 units, rising 291.21% and 201.47% year-on-year.
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Further key findings from the report suggest
- The Lithium Ion Battery Market is forecasted to grow from USD 51.79 Billion in 2020 to USD 141.47 Billion by 2028, at a CAGR of 13.4%, during the forecast period. Lithium ion batteries are increasingly used as a source of power for hybrid and full battery electric vehicles (BEV).
- The market for Lithium Nickel Manganese Cobalt (NMC) is expected reach USD 39.01 Billion in 2026. NMC is used in laptops, mobile phones, tablets and electrical storage systems for batteries. It is expected that the batteries of notebooks, mobile phones and tablets will gradually replace LCO and NCA cathode materials.
- The market for 0 to 3000 mAh is expected to reach USD 29.28 Billion in 2026. The growing market for consumer electronics and smartphones has increased the need for high – powered batteries to keep the device running for long hours.
- Automotive segment is expected to reach USD 20.53 Billion in 2026. Even if electric car sales for personal use remain silenced in the future, fleet operators running electric cars will require batteries. Moreover, in emerging countries with lower lead-acid batteries there are more than 8 million e-rickshaws operating. They have short cycles of replacement. There’s a huge opportunity.
- The market for Asia Pacific is expected to reach USD 44.99 Billion in 2026. As a global hub for automotive manufacturing, China has enormous potential for market growth. Increased electric vehicle production and lithium ion batteries used in vehicles are driving China’s market. In addition, China is also one of the world’s leading electronic device manufacturers. Multiple applications in China are expected to drive the lithium ion battery market.
Leading Companies operating in the Global Lithium-Ion Battery Market:
Samsung (South Korea), BYD (China), Sony (Japan), LG Chem (South Korea), Sanyo (Japan), ATLASBX Co. Ltd. (South Korea), Johnson Controls (U.S.), Exide Technologies (U.S.), Saft (France) and East Penn Manufacturing Co. (U.S.).
Rising global energy demand, highly volatile oil & gas prices, and new investments in clean energy are the key factors providing impetus to the global power and energy industry. Surging demand for alternative energy sources globally has fuelled the installed renewable power generation capacity across several countries. With the support of government for renewable power projects, there is slew of investment in solar and wind power projects. The emerging economies of Asia and Latin America which lack the required infrastructure are now allocating a huge annual budgets to the development of the utility and the power sector infrastructure.
Increasing new capital investments in power projects by both public & private sectors, rise in privatization, and deployment of smart grid to better manage services & reduce transmission losses will boost Lithium-Ion Battery market expansion during the forecast period.
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Rise in competition in the global market has led to increasing innovation and technological advancement in the power and energy sector to meet the rising demand of environmentally conscious consumers. Key players in the global Lithium-Ion Battery market are adopting the strategy of forward integration to offer alternate source of energy at economical rates.
This market report provides detailed analysis of recent developments, production processes, value chain optimization, opportunities in terms of emerging revenue pockets, impact of domestic and localized market players, application niches and technological innovations in the market.
The Global Lithium-Ion Battery Market is witnessing a tremendous growth owing to the rapidly rising demands, a surge in industrialization, consumer awareness, emerging industries, and technological advancements. The industry has reported exponential revenue growth and sales volume. Factors driving the growth of the market are anticipated to boost the market size and boost the growth of the market throughout the forecast period.
Segments Covered in the report:
This report forecasts volume and revenue growth at a global, regional, and country level, and provides an analysis of the industry trends in each of the sub-segments from 2017 to 2027. For the purpose of this study, Reports and Data has segmented the market on the basis of product, applications, power, and region.
Product (Thousand, Units and Revenue, USD Million; 2017-2027)
- Lithium Cobalt Oxide (LCO)
- Lithium Iron Phosphate (LFP)
- Lithium Nickel Cobalt Aluminum Oxide (NCA)
- Lithium Manganese Oxide (LMO
- Lithium Titanate
- Lithium Nickel Manganese Cobalt
Power (Thousand, Units and Revenue, USD Million; 2017-2027)
- 0 to 3000mAh
- 3000mAh to 10000mAh
- 10000mAh to 60000mAh
Application (Thousand, Units and Revenue, USD Million; 2017-2027)
- Consumer electronics
- Energy Storage Systems
Market Segmentation by key geographical regions:
North America (U.S.A., Canada, Mexico)
Europe (U.K., Germany, France, Italy, Spain, Rest of EU)
Asia-Pacific (India, China, Japan, South Korea, Australia, Rest of APAC)
Latin America (Brazil, Argentina, Peru, Chile, Rest of Latin America)
Middle East & Africa (U.A.E., Saudi Arabia, South Africa, Rest of MEA)
Major offerings of the Lithium-Ion Battery market report:
- In-depth analysis of the Lithium-Ion Battery market along with present and emerging trends
- Forecast estimations to assist in formulating investment strategies
- Assessment of key drivers, restraints, opportunities, challenges, and risks of the market
- SWOT Analysis, Porter’s Five Forces Analysis, Feasibility Analysis, and Investment Return Analysis
- Financial analysis and market position of the dominant players of the marke
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