Lithium-ion Battery Market: Overview
The lithium-ion battery market is foreseen to grow notably during the span of forecast period, as these batteries offer benefits, for example, higher productivity and longer life expectancy opposite different batteries. Quick development in the consumer electronics sector and a rising inclination toward renewable clean energy in automobile segment are likely to drive the lithium-ion battery market in the coming years.
As far as application is concerned, the lithium-ion battery market is categorized into automotive, consumer electronics, and industrial and grid energy. Consumer electronics is anticipated to be the major segment of the global lithium-ion battery market in the forthcoming years. In terms of power capacity, the lithium-ion battery market is divided into 48– 95 Wh, 5– 25 Wh, 18– 28 KWh, over 300 KWh, and 100– 250 KWh. Regarding value, 5– 25 Wh lithium-ion battery, which is principally utilized in cell phones, is assessed to be the key fragment of the lithium-ion battery market during forecast period, representing an share of over 30% back in 2015.
The global lithium-ion battery market is expected to expand at a CAGR of 11.6% during 2016 to 2024, with an evaluation if worth US$29.68 bn in 2015 and is anticipated to achieve US$77.42 bn by the end of 2024.
Increased Usage in Energy Storage Devices to Fuel Demand
The increasing popularity of lithium-ion batteries in energy storing devices, for example, solar grids in industrial and household unit applications is foreseen to give extensive development chances to the market. In any case, the less awareness with respect to the advantages of these batteries and the high expense contrasted with traditional lead acid batteries may hamper the development of this market. In any case, attributable to market saturation in a few regions, the interest for high power capacity batteries for vehicles has picked up the pace. As per the report by TMR, the segment of automobile is likely to pick up a critical share in the lithium-ion battery market before 2024. The rising use of these batteries in HEVs, EVs, and BEVs has fundamentally helped the segment and this rise is credited to the rise in awareness among customers and vehicle makers as well in regards to the advantages of clean fuel.
Rising Demand in Consumer Electronics in Asia Pacific to Surge Growth
The lithium-ion battery market in Asia Pacific is foreseen to extend fundamentally in coming years because of the growing interest for these batteries in consumer electronic gadgets. China is foreseen to be the main market for lithium-ion batteries in Asia Pacific and also over the globe inferable from the consistently rising population and high financial development in the nation. North America holds a noteworthy offer in the lithium-ion battery market as far as capacity is concerned. Increasing awareness about the advantages of lithium-ion batteries in the region has surged the utilization of these batteries as a substitute fuel in transportation.
The lithium-ion battery market in the Middle East and Africa and Europe offers an inspirational viewpoint for the segment of automobile as the consumer electronic segment in numerous regions is going to achieve a saturation.
Important players working in the lithium-ion battery market incorporate Automotive Energy Supply Corporation (AESC), GA Yuasa Corporation, Panasonic Corporation, Johnson Controls, Inc., Hitachi Chemical Co. Ltd., Samsung SDI Co. Ltd., Toshiba Corporation, and LG Chem Power, Inc.
Lithium-ion Battery are a part of rechargeable battery group. Lithium-ion batteries offer high storage capacity, better efficiency and long lifecycle than other batteries. The demand for these batteries are increasing in various applications such as consumer electronics products, automotive application such as EVs and HEVs and energy storage systems in power plants and household electricity. The global lithium-ion battery market is anticipated to grow with a significant rate between 2016 and 2024. The rising demand for electronic devices and the stringent government regulations to control pollution level are expected to drive the lithium-ion battery market during the forecast period.
This study analyzes, estimates, and forecasts the global Lithium-ion Battery market in terms of volume (Units) and revenue (US$ Mn) from 2016 to 2024. Market numbers given in the report describe the demand for global lithium-ion battery, but not production or supply. The Lithium-ion Battery report also analyzes several driving and restraining factors and their impact on the market during the forecast period.
The report provides comprehensive analysis of the Lithium-ion Battery by power capacity range and applications. It segments the lithium-ion battery market into range of power capacity that include 5-25 Wh, 48-95 Wh, 18-28 KWh, 100-250 KWh and more than 300 KWh. It further segments the market into the following key applications: consumer electronics, automotive and grid energy & industrial segment. The report also segments the market based on major geographies into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. It further provides volume and revenue for each application segment for each region. This includes 12 unique country-specific analysis.
Based on the application and country, the report analyzes the attractiveness of each segment and country with the help of an attractiveness tool. The study consist of value chain analysis, which offers a better understanding of key companies in the supply chain from raw material manufacturers to end-users. Additionally, the study examines market competition through Porter’s Five Forces Analysis.
The report includes an overview of the market share of key companies in the global Lithium-ion Battery market. Market share of companies has been derived on the basis of production by manufacturers of controlled release fertilizers. Key market players profiled in the study include Automotive Energy Supply Corporation (AESC), Panasonic Corporation, GA Yuasa Corporation, Hitachi Chemical Co. Ltd., Johnson Controls, Inc., LG Chem Power, Inc., Samsung SDI Co. Ltd., Toshiba Corporation. Profiles of key participants comprise important parameters such as company overview, financial overview, business strategy, and recent developments.
Primary research represents the majority of our research efforts, complemented by extensive secondary research. We reviewed key players’ product literature, annual reports, press releases, and relevant documents for competitive analysis and market understanding. Secondary research also includes a search of technical writing, recent trade, Internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be the most consistent, effective, and productive approach for procuring precise market data, recognizing business opportunities, and understanding industry participants’ perceptions.
Secondary research sources that are typically referred to include broker reports, corporation websites, external patented databases, financial reports, stockholder presentations, Securities & Exchange Commission filings, proprietary databases and relevant patent and regulatory databases, national government documents, statistical databases, and market reports, news articles, press releases, and webcasts specific to companies operating in the market. Secondary sources referred for this study include Chemical Week Magazine, ICIS Chemical Business Magazine, Hoover’s, Factiva, and company presentations.
The report segments the global Lithium-ion Battery market as follows:
This report segments the global Lithium-ion Battery Market as follows:
- Lithium-ion Battery Market – Power Capacity Analysis
- 5-25 Wh
- 48-95 Wh
- 18-28 KWh
- 100-250 KWh
- More than 300 KWh
- Lithium-ion Battery Market – Application Analysis
- Consumer Electronics
- Grid Energy & Industrial
- Lithium-ion Battery Market – Regional Analysis
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa (MEA)
- South Africa
- Rest of MEA
- North America