The global lithium-ion battery market size is estimated to grow from USD 44.2 billion in 2020 to USD 94.4 billion by 2025; it is expected to grow at a CAGR of 16.4%. The growth of this market is likely to be driven by the excellent features of li-ion batteries, increasing adoption of consumer electronics, and growing R&D initiatives by different organizations & battery manufacturers. Moreover, an increase in demand for plug-in vehicles, rising need for automation and battery-operated material-handling equipment in industries, propelling demand for smart devices and other industrial goods, and high requirement of lithium-ion batteries for industrial applications are other key driving factors.
Download PDF Brochure:-
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.
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.
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).
Get in-depth analysis of the COVID-19 impact on the Lithium-Ion Battery Market
Benchmarking the rapid strategy shifts of the Top 100 companies in the Lithium-Ion Battery Market
Know More@
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