According to the new market research report "Lithium-Ion Battery Market by Type (Li-NMC, LFP, LCO, LTO), Power Capacity (0-3,000 mAh, 3,000 mAh-10,000 mAh, 10,000 mAh-60,000 mAh, above 60,000 mAh), Industry (Consumer Electronics, Automotive, Industrial), Voltage, Region – Global Forecast to 2025", is estimated to grow from USD 44.2 billion in 2020 to reach USD 94.4 billion by 2025 at a CAGR of 16.4%. The lithium-ion battery industry is likely to exhibit lucrative growth potential during the forecast period. Factors such as increasing demand for plug-in vehicles, growing need for automation & battery-operated material-handling equipment in industries, increasing demand for smart devices and other industrial goods, and high requirement of lithium-ion batteries for various industrial applications are driving the growth of the lithium-ion battery market.
Download PDF Brochure:- https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=49714593
APAC to dominate the lithium-ion battery industry during the forecast period
APAC dominated the global lithium-ion battery market in 2019. The market mainly comprises China and India, which have considerable potential for many application areas for lithium-ion batteries. China being a global automotive manufacturing hub, holds immense potential for the growth of the lithium-ion battery industry. An increase in the production of electric vehicles and lithium-ion batteries used in vehicles is driving the market in China.
Furthermore, China is also one of the world's leading producers of electronic devices. This is expected to drive the market across multiple applications in China. Also, the presence of several electronic manufacturers such as Panasonic (Japan), Sony Corp. (Japan), Samsung SDI (South Korea), and LG Electronics (South Korea) in the region is one of the key factors driving the market for lithium-ion batteries.
Europe accounted for the second-largest share of the global market in 2019. Presence and active association in Europe, such as the Association of European Automotive Industrial Battery Manufacturers and PRBA is supporting the use of lithium-ion battery in different applications in safe mode by their set standards and certification. Extensive investments in the R&D of battery production and well-established automotive sector in Germany, high adoption of electric vehicles in developed countries, and investments by governments for increasing the battery production are the key factors driving the lithium-ion battery market in this region.
Key Market Players
Some major companies operating in the global lithium-ion battery market are BYD Company (China), LG Chem (South Korea), Panasonic (Japan), Samsung SDI (South Korea), BAK Group (China), GS Yuasa Corporation (Japan), Hitachi (Japan), Johnson Controls (Ireland), Toshiba (Japan), Lithium Werks (The Netherlands), CALB (China), Saft Groupe, (France), VARTA Storage (Germany), Farasis Energy (California), and Sila Nanotechnologies (California).
LG Chem has an energy solution division that works on developing differentiated materials for automotive and mobile batteries with the integration of the latest technology. Under its energy solution segment, it provides mobile batteries, automotive batteries, and energy storage systems. Under its mobile batteries division, it delivers cylindrical, prismatic, polymer batteries for mobile devices, electric tools, electric bicycles, and smartwatches. LG Chem built a 41,300 m2 sized production base in Wroclaw, Poland, by investing USD 380 million in its Polish subsidiary, LG Chem Wroclaw Energy. After the completion of the production base in 2018, it could supply lithium-ion batteries for 100,000 electric vehicles every year, resulting in the production capacity for 280,000 electric vehicles by leveraging the company's production system (Korea, US, China, and Poland).
Lithium cobalt oxide (LCO) held the largest size of the lithium-ion battery market during the forecast period
Lithium cobalt oxide (LCO) held the largest size, in terms of value, of the lithium-ion battery market in 2019. The market of LCO battery type is the largest due to its application in consumer electronics, which have a major share of the overall lithium-ion battery industry. High energy density acts as a power source for consumer electronics. The energy density of any LCO battery is very high, but it has low stability and power density. Its life cycle is not as long as its counterparts, whereas the cost of manufacturing these batteries is fairly reasonable owing to the use of graphite carbon and cobalt.
Power capacity range of 3,000–10,000 mAh is expected to grow at the highest CAGR during the forecast period
Power capacity range of 3,000–10,000 mAh is expected to grow at the highest CAGR between 2020 and 2025. The market for this range is expected to grow at a high CAGR since it covers a majority of industries such as consumer electronics, electric vehicle, power tools, and aerospace & defense. This makes it more desirable in the near future for numerous applications. Its heavy power capacity makes it useful for industries such as electric vehicles and industrial uses. The increasing market for consumer electronics and smartphones has increased the need for batteries with high power capacity that can keep the device running for long hours and, at the same time giving an optimum experience of the device due to large screen and power back up service.
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
No comments:
Post a Comment