Lithium-ion batteries have gained immense popularity in recent years on account of higher energy density and lower self-discharge rates as compared to other battery cells. Some of the major types of lithium-ion batteries include lithium iron phosphate (LiFePO4), lithium cobalt oxide (LiCoO2), lithium manganese oxide (LiMn2O4), lithium nickel manganese cobalt oxide (LiNiMnCoO2 or NMC), lithium nickel cobalt aluminum oxide (LiNiCoAlO2), and lithium titanate (Li4Ti5O12). Lithium-ion batteries are available in various shapes namely, cylindrical, prismatic, and pouch cells. Depending on the end-use application, manufacturers of various electronic and electric products can make use of these types of batteries accordingly. Lithium-ion batteries have been increasingly used in various consumer electronics such as cell phones, portable PCs, and tablets, among others. Another application of these batteries gaining ground in recent years is their use in various electric vehicles including cars and bikes. This segment has witnessed heavy investments with some of the leading providers of lithium-ion battery working towards increasing their production capacity for electric vehicle batteries across the world.
One of the major factors driving the demand for lithium-ion batteries is the increasing adoption of consumer electronics such as smartphones, laptops, and tablets, among others. Lithium iron phosphate (LiFePO4) based batteries offer numerous benefits such as high energy density, low self-discharge rate, compact size, and longer lifespan. Thereby, since its introduction, these batteries have gained immense popularity in various end-use segments. Another factor driving the overall lithium-ion battery market includes the rising production of electric vehicles across the world. Numerous developed markets across the world have been increasingly investing in the production of electric vehicles in recent years. Thereby, there has been a rise in demand for large lithium-ion batteries in the automotive segment.
The report titled “Global Lithium-Ion Battery Market- Growth, Future Prospects and Competitive Analysis, 2023 – 2030” offers strategic insights into the global lithium-ion battery market along with the market size and estimates for the duration 2020 to 2030. The said research study covers in-depth analysis of multiple market segments based on cell type, application, and cross-sectional study across different geographies and sub-geographies. The study covers the comparative analysis of different segments for the years 2021 & 2030. The report also provides a prolific view on market dynamics such as market drivers, restraints, and opportunities. In addition, the report covers a section providing production and pricing trends in some of the major markets.
In order to help strategic decision-makers, the report also includes competitive profiling of the leading providers of lithium-ion batteries, market positioning, and key developments. Some of the major players profiled in the report are Panasonic Corporation, SAMSUNG SDI CO., LTD., LG Chem, Sony Energy Devices Corporation, Maxwell Technologies, Inc., Shenzhen BAK Battery Co., Ltd., Tianjin Lishen Battery Co., Ltd., BYD Company Limited, Amperex Technology Limited, Tesla, Inc. and Valence Technology, Inc.
Other in-depth analysis provided in the report includes:
Overall, the research study provides a holistic view of the global lithium-ion battery market, offering market size and estimates for the period from 2023 to 2030, keeping in mind the above-mentioned factors.
On the basis of cell type, the cylindrical type segment held the largest share in the overall lithium ion battery market in 2021. Cylindrical lithium ion batteries are widely in applications such as portable PCs, power tools, and the automotive segment. This segment is expected to witness continued growth in the following years. The prismatic lithium ion battery segment is expected to witness curtailed growth due to the increasing adoption of pouch type cells in the cellular applications. The pouch type lithium ion battery segment is expected to witness the fastest growth during the forecast period from 2023 to 2030.
On the basis of application, the global lithium ion battery market was led by the overall consumer electronics end-use segment in 2021. The consumer electronics segment includes various individual applications such as cellphones, portable PCs, tablets, digital cameras, camcorders, and MP3 players, among others. The segment held over a 33% share in the overall lithium ion battery market across the globe in 2019. With continued demand for the latest electronics across the world, this segment is expected to witness sustained growth in the following years.
The rising popularity of new energy vehicles in some of the major markets across the world has led to the growing demand for lithium ion batteries from the automotive sector in recent years. The automotive segment held the second-largest share in the overall lithium ion battery market across the world in 2021. With increasing investments and numerous favorable government initiatives, the automotive end-use segment is expected to witness fast growth during the forecast period from 2023 to 2030.
In 2021, Asia Pacific represented the largest market for lithium-ion battery, in terms of revenue. The region is primarily supported by a large consumption of consumer electronics such as smartphones, laptops, tablets, and power tools, among others. Moreover, the region has recently experienced higher investments towards electric vehicles and E-bikes leading to higher demand for various types of lithium ion batteries. Thereby, the Asia Pacific region is expected to maintain its dominance in the overall lithium ion battery market across the world.
Europe and North America followed the Asia Pacific region in the global lithium-ion battery market in terms of revenue in 2021. Factors such as the growing adoption of electric vehicles especially in countries including the U.S., UK, Germany, and France, among others are primarily expected to drive the market in these regions.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Lithium Ion Battery market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Cell
| |
Application
| |
|
Region Segment (2022-2032; US$ Million)
|
Key questions answered in this report
