The growth of this market is propelled by the increase in demand for
electric vehicle, strict government mandates on fuel economy, growing
demand for smart devices and other consumer electronics, and development
toward enhancement of lithium ion batteries.
The lithium ion battery market is expected to be valued at USD 68.97 Billion by 2022, growing at a CAGR of 16.6% between 2016 and 2022.
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Lithium cobalt oxide (LCO) battery type is expected to hold the largest share of the overall lithium ion battery market in 2016. The energy density of any LCO battery is very high, and the cost of manufacturing these batteries is fairly reasonable owing to the use of graphite carbon and cobalt. The market for lithium nickel manganese cobalt battery type is expected to grow at the highest rate between 2016 and 2022.
The combination of nickel and manganese gives the required accuracy and effectiveness. Separately, both of them are not very effective as nickel has high energy density but poor stability and manganese forms a spinel structure achieving low internal resistance but has a low energy density.
The consumer electronics industry is expected to dominate the market during the forecast period. For better performance and higher reliability, the consumer electronics products are highly dependent on portable power source. Lithium ion batteries are a preferred choice for consumer electronics products as a portable power source because of the features of high energy density and less recharge time.
The market for the automotive industry is expected to grow at the highest rate. The implementation of lithium ion batteries in automotive sector for plug-in hybrid electric vehicles (PHEV) and battery electric vehicles (BEV) helps to improve the efficiency and reduce the maintenance cost of the vehicle. There is increasing competition among the battery models installed in electric vehicles owing to the need for operational excellence.
APAC
held the largest share of the overall lithium ion battery market and
the market for the same is expected to grow at the highest rate during
the forecast period. Continuous development in consumer and automotive
sector has led to increased application of lithium ion batteries in
APAC. The products of these industries require high power capacity with
safety and low rate of pollution. Lithium ion batteries are capable to
fulfill these requirements of consumer and automotive industries. This
makes them one of the highly adopted batteries in recent products.
One of the key restraining factors for the lithium ion battery market are overheating of lithium ion batteries which poses security concerns and inadequate charging infrastructure. The key market players such as LG Chem Ltd. (South Korea) and Panasonic Corporation (Japan) are focusing on the strategies such as contracts, agreements, and partnerships to enhance their geographical presence and expand their business.
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The 0 to 3000mAh power capacity batteries accounted for the largest share of the lithium ion battery market segmented on the basis of power capacity. There is huge range of applications that are powered by batteries within the capacity of 3,000mAh. These include DVD players, portable CD players, digital cameras, smartphones, camcorders, wearable devices, power tools, power banks, toys, bluetooth, GPS, blackbox, tablet, and various other consumer electronics.
These batteries can also be assembled together in a module format for applications requiring higher capacity. The market for 10000mAh to 60000mAh power capacity batteries is expected to grow at the highest rate during the forecast period. The lithium ion batteries having capacity between 10000mAh to 60000mAh are used in industries where high power capacity is required.
These applications include electric vehicles, material handling equipment, marine industry applications, robots, industrial applications, telecommunication systems, energy storage system (ESS) platforms, military applications, and GEO, LEO, and MEO satellites.
The lithium ion battery market is expected to be valued at USD 68.97 Billion by 2022, growing at a CAGR of 16.6% between 2016 and 2022.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownload.asp?id=49714593
Lithium cobalt oxide (LCO) battery type is expected to hold the largest share of the overall lithium ion battery market in 2016. The energy density of any LCO battery is very high, and the cost of manufacturing these batteries is fairly reasonable owing to the use of graphite carbon and cobalt. The market for lithium nickel manganese cobalt battery type is expected to grow at the highest rate between 2016 and 2022.
The combination of nickel and manganese gives the required accuracy and effectiveness. Separately, both of them are not very effective as nickel has high energy density but poor stability and manganese forms a spinel structure achieving low internal resistance but has a low energy density.
The consumer electronics industry is expected to dominate the market during the forecast period. For better performance and higher reliability, the consumer electronics products are highly dependent on portable power source. Lithium ion batteries are a preferred choice for consumer electronics products as a portable power source because of the features of high energy density and less recharge time.
The market for the automotive industry is expected to grow at the highest rate. The implementation of lithium ion batteries in automotive sector for plug-in hybrid electric vehicles (PHEV) and battery electric vehicles (BEV) helps to improve the efficiency and reduce the maintenance cost of the vehicle. There is increasing competition among the battery models installed in electric vehicles owing to the need for operational excellence.
APAC
held the largest share of the overall lithium ion battery market and
the market for the same is expected to grow at the highest rate during
the forecast period. Continuous development in consumer and automotive
sector has led to increased application of lithium ion batteries in
APAC. The products of these industries require high power capacity with
safety and low rate of pollution. Lithium ion batteries are capable to
fulfill these requirements of consumer and automotive industries. This
makes them one of the highly adopted batteries in recent products.One of the key restraining factors for the lithium ion battery market are overheating of lithium ion batteries which poses security concerns and inadequate charging infrastructure. The key market players such as LG Chem Ltd. (South Korea) and Panasonic Corporation (Japan) are focusing on the strategies such as contracts, agreements, and partnerships to enhance their geographical presence and expand their business.
Request for Sample Pages:https://www.marketsandmarkets.com/requestsample.asp?id=49714593
The 0 to 3000mAh power capacity batteries accounted for the largest share of the lithium ion battery market segmented on the basis of power capacity. There is huge range of applications that are powered by batteries within the capacity of 3,000mAh. These include DVD players, portable CD players, digital cameras, smartphones, camcorders, wearable devices, power tools, power banks, toys, bluetooth, GPS, blackbox, tablet, and various other consumer electronics.
These batteries can also be assembled together in a module format for applications requiring higher capacity. The market for 10000mAh to 60000mAh power capacity batteries is expected to grow at the highest rate during the forecast period. The lithium ion batteries having capacity between 10000mAh to 60000mAh are used in industries where high power capacity is required.
These applications include electric vehicles, material handling equipment, marine industry applications, robots, industrial applications, telecommunication systems, energy storage system (ESS) platforms, military applications, and GEO, LEO, and MEO satellites.
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Mr. Salgarkar
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India
1-888-600-6441
Email: sales@marketsandmarkets.com
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