USD 41.9 billion
Lithium-Ion Battery Market Size, Share, Growth Analysis, By Type (Lithium Nickel Manganese Cobalt, Lithium Iron Phosphate), By Material (Cathode material, Anode material), By Capacity (10,001 – 60,000 mAh, Above 60,000 mAh), By Voltage (Medium, High), By Region -Industry Forecast 2024-2031.
Report ID:
SQMIG20D2153 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
100
|Figures:
74
Lithium-Ion Battery Market Insights
Global Lithium-Ion Battery Market size was valued at USD 47.2 billion in 2022 and is poised to grow from USD 53.95 billion in 2023 to USD 157.17 billion by 2031, growing at a CAGR of 14.30% during the forecast period (2024-2031).
Lithium-Ion batteries are becoming popular since It has many advantages such as high energy density, low self discharge, low maintenance cell voltage, loads of characteristic, no requirement for priming, variety of types.
One issue with all the other rechargeable batteries, the self discharge rate.Lithium ion cell’s Self discharge is much lower than the other rechargeable sale such as NI cadmium and NI MH forms. Along with low rate of self discharge, another major advantage of lithium and batteries that they do not require maintenance to ensure their performance.The voltage provided by lithium ion cell is higher than that of the standard nickel, cadmium, nickel metal hydride and even standard than alkaline cells that helps in power management. However,lesser protection, battery management system, egging transportation cost and developing technologies are the major issues for the lithium ion battery market.
US Lithium-Ion Battery Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Lithium cobalt oxide (LCO)
Fastest Growth
Lithium cobalt oxide (LCO)
Growth Rate
18.18% CAGR
Global Lithium-Ion Battery Market 2022-2030 ($ Bn)
Country Share for Asia Pacific Region- 2022 (%)
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Lithium-Ion Battery Market Segmental Analysis
Global Lithium-Ion Battery Market is segmented into Type, Material, Capacity, Voltage, Application, and region. By Type, the market is classified into Lithium Nickel Manganese Cobalt, Lithium Iron Phosphate, Lithium Cobalt Oxide, Lithium Titanate Oxide, and Others. Depending on the Material, it is categorized into Cathode material, Anode material, Electrolyte material, Separator material, Current collector material, and other materials. According to Capacity, the market is divided into Below 3,000 mAh, 3,001 – 10,000 mAh,10,001 – 60,000 mAh, and Above 60,000 mAh. Based on Voltage, the market is segmented into Low, Medium, and High. Based on Application, the market is segmented into Consumer Electronics, Automotive, Aerospace, Marine, Medical, Industrial, Power, and Telecommunications. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Lithium-Ion Battery Market Analysis by Application
By application, the global market is divided into many segments such as Consumer Electronics, Energy Storage Systems, Industrial. Consumer Electronics segment held largest global Lithium-Ion Battery market share due to the wide range of benefits provided by Lithium-Ion Battery in it . Devices, such as easy digital approach to switching network carriers with no need of replacing a battery physically, enhanced security, reliability, modern look, completely wireless and many more. Furthermore, these provide very smooth, efficient operation of electronic modules. OEMs across the world are continuously focusing on the development and integrity of Lithium-Ion Battery in various types of applications.
Global Lithium-Ion Battery Market Size By Type 2022(%)
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Lithium-Ion Battery Market Regional Insights
Globally, Asia Pacific is estimated to hold the highest global Lithium-Ion Battery market share. Main factors during this growth period are the presence of top market players, Rising environmental concerns which related to banning of conventional fossil fuel powered scooters to reduce emissions and others.
It is Alsoexpected to grow fastest during the forecast period. The reason for the same is increasing acquisition of Lithium-Ion Battery technology in various devices in the region of Asia Pacific and mainly in China and Japan. Penetration of mobile internet in Asia Pacific has doubled in the last few years. In addition, mobile network operators are investing heavily in order to provide Battery services at an affordable price to the consumers, which is likely to boost the demand for Lithium-Ion Battery in the region.
Global Lithium-Ion Battery Market Size By Geography, 2022-2030
- Largest
- Fastest
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Lithium-Ion Battery Market Dynamics
Lithium-Ion Battery Market Drivers
Increasing popularity and usage Of electric vehicle is boosting the Lithium-Ion Battery market
- Compared to internal combustion engine, electric vehicle have reduced the harmful impacts on the climate .Government all across the globe is proposing to the consumers to purchase electric vehicle because of the various initiatives of greener and population free mobility.Theses several initiatives and awareness among the consumers regarding the environment will drive the Lithium ion battery market.
Lithium-Ion Battery Market Restraints
Alternate battery options and demand slow down and hinder the market growth
- A major lithium ion battery is around 40% more costlier than the manufacturing nickel cadmium cells. Along with it, many airlines across the world limit the number of lithium and batteries consumer stake for the transportation, therefore, the consumers across the globe. Prefer alternate batteries which are easy to commute as well as cost saver. These factors of cost as well as transportation is hindering the growth of lithium ion battery.
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Lithium-Ion Battery Market Competitive Landscape
Competition in the global Lithium-Ion Battery market is expected to increase during the forecast period because new players are expected to enter in the global market and the number of devices compatible with Lithium-Ion Battery will also increase. Currently, only a few key players are providing their services in the global market but these numbers will increase in the upcoming years.
Lithium-Ion Battery Market Top Player’s Company Profiles
- LG Energy Solution
- Samsung SDI Co., Ltd.
- Panasonic Holdings Corporation
- Contemporary Amperex Technology Co., Limited
- Panasonic Energy Corporation)
- EVE Energy Co., Ltd.
- GS Yuasa Corporation
- Hitachi, Ltd.
- Tesla, Inc.
- EVE Energy Co., Ltd.
- Farasis Energy, Inc.
- Ipower Batteries Pvt Ltd.
- SK Innovation
- HEG – TACC
- NextEra Energy, Inc.
- Cadenza Innovation
- Ipower Batteries Pvt Ltd.
- Sila Nanotechnologies Inc.
- SolarEdge Technologies Inc.
- Battery Ventures
Lithium-Ion Battery Market Recent Developments
- In March 2022, Reliance New Energy Limited (Reliance) is a subsidiary of Reliance Industries Ltd. They acquired Lithium Werks for $61 million USD, along with manufacturing facilities in China, and key business contacts.
- In October 2022,Turtle & Hughes, one of the nation’s leading electrical and industrial distributors, today announced a strategic investment in Cadenza Innovation, a growth-stage company that has developed a patented technology platform – the ‘superCell’ – which is enabling a new generation of safe, high-performing, low-cost lithium-ion (Li-ion) batteries and energy storage solutions.
Lithium-Ion Battery Key Market Trends
- The growth in the projects of renewable energy such as photovoltaic installation, nuclear power plants, wind energy projects for the interest towards maintaining the clean and green environment has led to the growth of lithium ion batteries.Hey. The major trend of using the lithium ion battery equipment in the medical sector is also supporting the growth of the market.
Lithium-Ion Battery Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global Lithium-Ion Battery market analysis, the global market is estimated to have significant growth during the forecast period because of the benefits it consists of such as high energy density, low self discharge, low maintenance cell voltage, loads of characteristic, no requirement for priming, variety of types. Lithium-Ion batteries will enable devices to be more convenient for their users. The market has so much potential for new players also because of the high expected rate of growth and demand.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 47.2 billion |
| Market size value in 2031 | USD 157.17 billion |
| Growth Rate | 14.30% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Lithium-Ion Battery Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Lithium-Ion Battery Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Lithium-Ion Battery Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Lithium-Ion Battery Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Lithium-Ion Battery Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Lithium-Ion Battery Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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