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Lithium-ion Battery Market- Competitive Analysis, Opportunity & Forecast, 2027
Global Lithium Ion Battery Market Size By Component [Anode, Cathode, Separators, Copper Foil, Aluminum Foil, Electrolytes, Others], By Chemistry [NMC, LFP, LCO, LMO,NCA], By Application [Automotive (Battery Electric Vehicles &Hybrid Electric Vehicles), Industrial (Military, Medical, Industrial Equipment, Marine, Others), Energy Storage, Consumer Electronics (Laptops, Smartphones, Smart Cameras, UPS Systems, Others)], By Region [North America, Europe, Asia Pacific, Middle East & Africa and Latin America], Forecast & Opportunities, 2020-2027
Market Overview
Global Lithium Ion Battery Market is expected to reach over USD 75 Billion by 2027 due to the increasing demand for electric vehicles and energy storage systems (ESS), for both commercial and residential applications, declining lithium-ion battery prices, and the increasing sale of consumer electronics.
Lithium Ion batteries are high-energy density batteries which are rechargeable and are commonly used in smartphones, digital cameras, tablets. It is also used as energy storage application in smart grids.
Lithium Ion batteries have long life and high energy density, which is conducive for energy storage technology for automobiles. With rising investments in electric vehicles, demand for Lithium Ion batteries is increasing. So far, Lithium Ion batteries have been largely used in portable electronics but with technological innovations it is being demanded in in medium and large scale applications.
Lithium Ion batteries also contributes to the conservation of environment as it is increasingly used to replace traditional batteries.
The need for alternate energy, increased spending on consumer electronics, emerging electric and hybrid vehicle market are some of the growth drivers of the Lithium Ion battery market globally.
Market Segmentation
Global Lithium Ion Battery Market can be segmented into Component, Chemistry, Application and Region.
By Component, Global Lithium Ion Battery Market can be segmented into Anode, Cathode, Separators, Copper Foil, Aluminum Foil, Electrolytes, Others. The Cathode segment is expected to grow significantly during the forecasted period of 2020-27 due to low cost of maintainance, long life and short discharge time.
By Chemistry, Global Lithium Ion Battery Market can be segmented into NMC, LFP, LCO, LMO,NCA. The LFP segment is expected to grow significantly during the forecasted period of 2020-27 due to its low resistance, strong electrochemical performance and high thermal stability. LFP batteries are widely used in stationary and portable applications.
By Application, Global Lithium Ion Battery Market can be segmented into Automotive (Battery Electric Vehicles & Hybrid Electric Vehicles), Industrial ( Military, Medical, Industrial Equipment, Marine, Others), Energy Storage, Consumer Electronics (Laptops, Smartphones, Smart Cameras, UPS Systems, Others).The Industrial segment holds the largest market share. Enhanced operational life with longer warranty periods contributes to the growth of market.
By Region, Global Lithium Ion Battery Market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America
Regional Analysis
Regionally, Asia Pacific Lithium Ion Battery Market holds the largest market share due to presence of large manufacturers like China. The increasing investments in automobile manufacturing units contributes to the growth of the Lithium Ion battery market
Competitor Analysis
The key players in Global Lithium Ion Battery Market are Samsung SDI Co. Ltd, TESLA Inc, Panasonic Corporation, GS Yuasa Corporation, LG Chem Ltd, Hitachi Chemical Co Ltd,BYD Co, A123 Systems, Toshiba Corporation, Envision (AESC), Hitachi Maxell Ltd.,Koninklijke Philips N.V., EnerDel, Saft Batteries,Johnson Controls, Inc., ProLogium Technology Co. Ltd., Roofer Technology Co. Ltd., Energus Power Solutions,AkkuTronics New Energy Technology Co., Duracell,EaglePicher Technologies, Padre Electronics Company Ltd., Ding Tai Battery Company Ltd.,LithiumWerks and other market players.
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