Lithium-Ion Battery Market Analysis
Market Research Future (MRFR) presumes the
global Lithium-Ion Battery Market Size was valued at USD 45.4 billion in 2021.
The Lithium-Ion Battery market industry is projected to grow from USD 51.16
Billion in 2022 to USD 118.15 billion by 2030, exhibiting a compound annual
growth rate (CAGR) of 4.72% during the forecast period (2022 - 2030).
The lithium-ion battery market is a rapidly growing
market, driven by the increasing demand for rechargeable batteries in various
industries such as consumer electronics, electric vehicles, and energy storage
systems.
The growing demand for electric vehicles and
energy storage systems is expected to drive the growth of the lithium-ion
battery market. The increasing use of portable electronics, such as laptops,
smartphones, and power banks, is also contributing to the growth of the market.
In addition, the rise in renewable energy generation, such as wind and solar
power, is expected to increase the demand for energy storage systems, thereby
driving the growth of the lithium-ion battery market.
Key Players
Some of the prominent players in the global lithium-ion battery market are Panasonic Sanyo (Japan), SAMSUNG SDI Co., Ltd. (South Korea), Automotive Energy Supply Corporation (AESC) (Japan), LG Chem. (South Korea), Li-Tec Battery GmbH (Germany), SK Energy (South Korea), Toshiba (Japan), A123 Systems (U.S.), GS Yuasa (Japan), BYD (China), Sony Corporation (Japan), Johnson Controls, Inc.(U.S.),Beijing Pride Power (BPP) (China), Hitachi Chemical Co. Ltd.(Japan), BAK Group (China), Toshiba Corporation (Japan), Valence Technology, Inc.(U.S.), Saft Groupe SA (France), TDK Corporation(Japan).
Global Lithium-ion Battery Market –
Competitive Landscape
The lithium-ion battery market appears highly
competitive and fragmented as many giant players form a competitive landscape
with their international and regional presence. All players are fiercely
competing to gain a substantial market share.
MRFR Analysis observes two kinds of new
entrants in the market established companies from adjacent industries and
technology start-ups. Players incorporate acquisition, partnership,
collaboration, expansion, product & technology launch to gain a competitive
advantage in this market.
Growing Demand from the Consumer Electronics
and Automotive Sectors
A lithium-ion battery is a type of
rechargeable battery used in various sectors for a variety of reasons. These
batteries have a long life cycle and a high energy density. Due to increased
demand from the consumer electronics and automotive sectors, the lithium-ion
battery market has seen phenomenal expansion over the last decade. As new
devices enter the market that relies on a portable power source, lithium-ion
batteries have emerged as a viable choice.
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Market Segmentation
The global lithium-ion battery industry has
been segmented by type, power capacity, and vertical.
Based on the type, the global lithium-ion
battery market has been segmented into Lithium Nickel Manganese Cobalt
(LI-NMC), Lithium Cobalt Oxide (LCO), Lithium Iron Phosphate (LFP), Lithium
Titanate Oxide (LTO), Lithium Nickel Cobalt Aluminum Oxide (NCA), and Lithium
Manganese Oxide (LMO).
Based on power capacity, the global
lithium-ion battery market has been segmented into 0 to 3000mAh, 3000mAh to
10000mAh, 10000mAh to 60000mAh, and more than 60000mAh.
Industry News
In May 2021, CATL and Daimler Truck AG
announced an expansion of their current relationship based on their shared
vision of CO2-neutral electric trucking. CATL will supply lithium-ion battery
packs for the Mercedes-Benz eActros LongHaul battery-electric vehicle, which is
scheduled to go into production in 2024.
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Regional Analysis
APAC to Capture the Largest Share
The Asia Pacific region accounts for the
greatest share of the global market, followed by Europe and North America. The
region's growth can be ascribed to rising technical advancements, the
government's increased focus on lowering greenhouse gas emissions, and an
increase in the number of power outages. In addition, the region has a
well-established infrastructure, which allows for the faster adoption of
sophisticated technology. Another key element driving market expansion in the
region is the expanding number of manufacturers offering lithium-ion batteries
at comparably reduced pricing.
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