According to the new research report published by The Insight Partners, titled “Lithium-ion Battery – Global Analysis and Forecast to 2025”, The global lithium-ion battery market is expected to grow at a CAGR of 14.9% during the forecast period 2018 – 2025, to account to US$71.04 Bn by 2025.
Li-ion batteries are used in a wide range of applications such as consumer electronics, automotive, energy storage systems, aerospace & defense, and medical & healthcare. These industries highly depend on Li-ion battery for powering electronic devices, medical devices, power systems, and electric vehicles including many others.
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The Major Manufacturers Covered In This Report: Tesla Motors Inc., Panasonic Corporation, Toshiba Corporation, Samsung SDI Co. Ltd., Automotive Energy Supply Corporation, Hitachi Chemical Co. Ltd., LG Chem Power Inc., GS YUASA Corporation, A123 Systems LLC, and Johnson Controls, Inc. among others.
The global Lithium Ion Battery Market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading Lithium Ion Battery Market players and offers key trends and opportunities in the Industry.
Key findings of the study:
- Asia-Pacific is anticipated to account the largest lithium-ion battery market share and would register a CAGR of 14.6%.
- Based on the type, Li Co oxide is projected to dominate the lithium-ion battery market.
- >60,000 mAh led the lithium-ion battery market by power capacity in 2017.
- In 2017, automotive segment dominated the market by application.
In 2017, Asia Pacific accounted for the largest revenue share in the lithium-ion battery market. High market share is primarily due to presence of major PEV and PHEV vehicle and E-Bike manufacturers such as BYD, KANDI, Zotye, Phylion and others. The region also includes the presence of high volume (units) electronic device product manufactures such as Toshiba and Samsung. Further, banning of fuel powered motorcycles in China has also resulted the increase penetration of Li-Ion batteries from 6% to 17% in the country. Further, government initiatives to promote in-house manufacturing in developing countries across the region is driving the sales of electronic components in the region thereby the paving the way for growth of Li-ion battery market.
Modern devices rely more on Li-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 batteries in terms of energy storage, the speed of recharge, and working conditions. Currently, Li-cobalt oxide battery, Li-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 Li-ion batteries. Thus, many of the several research institutes and organizations are experimenting with many alternative approaches to battery chemistry.
This research evaluates micro-markets and takes a closer look at the different growth trends, future prospects and regulations that will regulate the industry in the coming years. Researchers have also included a few top performers in the sector to calculate their industry shares and core competencies. The research explains technological developments in the sector along with upcoming areas of the industry that might potentially attract massive investments.
Scope of the study:
- The report conducts a detailed analysis of the evolving market dynamics
- It gives a holistic view of various drivers and restraints operating in the market
- The forecast spans 6 years and predicts the prospective progress of the sector
- It categorizes the prominent product segments and their future growth scenario
- The market insights derived after a thorough investigation of the industrial segments and subsegments enable readers make informed decisions.
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