Global Lithium Ion Battery Market in Expansion Mode due to Rapid Expansion of Automotive Sector, reports TMR
The competitive landscape of the global lithium-ion battery market is largely consolidated with top three players, namely LG Chem, Panasonic, and Johnson Controls collectively accounting for 49% of the overall market in 2012, as per the analysis of a new report by Transparency Market Research (TMR). However, the presence of numerous local players restricts the entry of established international players into new markets. This is because domestic players have an upper hand in controlling prices across regional markets.
A TMR analyst says, “In the bid to strengthen their foothold in the global lithium-ion battery market, an increasing number of companies are entering into partnerships and other business alliances.” An excellent example is, in 2012 Sony LLC extended its partnership with SAIC Motor Corporation to cater to the increasing demand for lithium-ion battery technology in China.
An increasing number of players are focused on supplying lithium-ion batteries for the automotive industry as a growth strategy in this market. Top players in the lithium-ion market are strategizing to gain contracts for the supply of lithium-ion batteries in the bid to expand their business.
Smartphones and Other Electronics Hold Ample Opportunities for Global Lithium-ion Battery Market
“Presently, the ceaseless demand for smartphones and tablets is one of the primary factors driving the lithium-ion battery market, “says a TMR analyst. The efficiency of the battery is one of the most important features that consumers look for while purchasing a smartphone or a tablet. Rising trend towards high battery backup of batteries in electronic devices is fueling the demand for these batteries in this sector. Manufacturers of mobile phones are focused on incorporating batteries with extended backup.
Strict governmental regulations regarding curbing carbon emissions are paving a way for alternate means of transportation, which in turn, is aiding the growth of the lithium-ion battery market. Increasing demand for lithium-ion batteries from the automotive sector is significantly contributing to the growth of this market. Improved efficiency of lithium-ion batteries due to their lightweight, environment-friendliness, rechargeability, and slow discharge is leading to their increased use, adds the analyst.
The high price of lithium-ion batteries as compared to lead-acid, nickel-metal hydride, and sodium-sulfur rechargeable batteries is detrimental to the market’s growth. Due to its high price factor, adoption rate of lithium-ion batteries is low across different application sectors.
The high temperatures involved with lithium-ion batteries pose a risk of fire in cars and electronic devices, which is limiting their use in several application areas.
Growth of Electric Vehicles Market Displays High Demand for Lithium-ion Batteries
The global market for lithium-ion battery is expected to reach a valuation of US$33.1 bn by 2019.
In 2012, the consumer electronics application segment of the market led the overall lithium-ion battery, followed by the automotive sector. Region-wise, Asia Pacific stood as the leader with 42% of the global lithium-ion battery market in 2012. Countries such as India, China, Singapore, Australia, and Japan have been contributing significantly to the growth of the lithium-ion battery market thanks to strict laws in place for curbing vehicular emissions. The production of hybrid and electronic vehicles in China has also contributed significantly to the growth of this market in the recent years.
The information presented in this review is based on a Transparency Market Research report, titled “Global Lithium Ion Battery Market - Industry Analysis, Size, Share, Growth, Trends, and Forecast 2013 - 2019.”
The global lithium-ion battery market is segmented as follows:
Lithium-Ion Battery Market by Material Type
- Electrolytic Solution
- Others (Binders, Separators etc.)
Lithium-Ion Battery Market by Application
- Bus and Trucks
- Train and Airplanes
- Other (e-scooter and e-bikes)
- Smart Grid
- Mobile phones, smartphones and tablet PCs
- Others (Energy, Medical, Military)
Lithium-Ion Battery Market by Geography
- North America
- Asia Pacific
- Rest of the World
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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