Lithium-Ion Battery Market Analysis
Market Research Future (MRFR) presumes the
global lithium-ion
battery market to grow at a CAGR of approximately
16% from 2017-2023 (forecast period)
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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Lithium-Ion Battery 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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