Global lithium-ion battery market was valued at $ 24.5 billion and is projected to grow at a promising CAGR of 15% to reach $ 56 by 2024
NEW YORK, April 2, 2019 /PRNewswire/ -- Global Lithium-Ion Battery Market By Type (Lithium Cobalt Oxide, Lithium Nickel Manganese Oxide, etc.), By Shape (Pouch Cell, Prismatic Cell, etc.), By Capacity (4001-15000 mAh, etc.), By Application, By Region, Competition, Forecast & Opportunities, 2024
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Global Lithium-Ion Battery Market Overview
Global lithium-ion battery market was valued at $ 24.5 billion and is projected to grow at a promising CAGR of 15% to reach $ 56 by 2024 on account of increasing demand for energy-efficient, safe and low-cost batteries. Lithium-ion battery or li-ion battery (abbreviated as LIB) is a type of rechargeable battery in which lithium-ions move from the negative electrode to the positive electrode during discharge and from positive electrode to negative electrode while charging. Li-ion batteries use an intercalated lithium compound as one electrode material, compared to the metallic lithium used in a non-rechargeable lithium battery.
Booming market for electrical vehicles, rapid technological advancements, and increasing demand for smart devices are some of the factors fueling growth in global lithium-ion battery market.Additionally, encouraging government regulations to utilize batteries in order to reduce pollution along with growing adoption in various industries are further likely to propel demand for lithium-ion batteries.
However, safety concerns regarding overheating and lack of charging stations are restricting the growth of the market.
Global Lithium-Ion Battery Market Segment Insights
In terms of type, global lithium-ion battery market is categorized into lithium cobalt oxide, lithium nickel manganese cobalt oxide, lithium manganese oxide, lithium iron phosphate and others. Among these, lithium cobalt oxide accounts for the largest share in the market, on the back of its superior properties over other lithium-ion battery types, such as low rate of self-discharge, high energy density, high voltage, etc.
Global Lithium-Ion Battery Market Regional Insights
Regionally, Asia-Pacific lithium-ion battery market dominates global lithium-ion battery market, owing to the booming consumer electronics industry and its instantaneous adoption of lithium-ion batteries in the market.Moreover, increasing demand for lithium-ion from the consumer electronics market in countries like Japan and China is bolstering the growth of the lithium-ion battery market in the region.
Moreover, the usage of lithium-ion batteries in hybrid buses in China is further fueling growth in Asia-Pacific lithium-ion battery market.
Global Lithium-Ion Battery Market Competitive Landscape
Global lithium-ion battery is fragmented in nature with large number of domestic players accounting for majority of the market share.Samsung SDI Co.
Ltd. was a major player in the global lithium-ion battery market in 2018, however its share is expected to decrease in the next few years due to intensifying competition among the prominent market players. Some of the other leading players operating in global lithium-ion battery market are BYD Corporation Saft Groupe SA, Johnson Controls International plc, Hitachi Ltd., etc.
Years considered for this report:
Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020–2024
Objective of the Study:
• To analyze and forecast the market size of global Lithium-Ion battery market.
• To forecast global lithium-ion battery market based on type, shape, battery capacity, application and regional distribution.
• To identify drivers and challenges for global lithium-ion battery market.
• To identify and analyze the profile of leading players operating in the global lithium-ion battery market.
Some of the leading players in the global lithium-ion battery market are SAMSUNG SDI Co. Ltd., LG Chem Ltd., Johnson Controls International Plc, Tesla Inc., Panasonic Corporation, Hitachi Ltd., BYD Corporation, SAFT S.A., GS Yuasa Corporation, A123 Systems LLC, etc.
The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of manufacturers across the globe.
Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.
Through this technique, the analyst could include the manufacturers which could not be identified due to the limitations of secondary research. The analyst analyzed the service offerings, distribution channels and presence of all major manufacturers across the globe.
The analyst calculated the market size of global lithium-ion battery market using a top-down approach, wherein data for various application across various end-user segments was recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size.
Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the analyst.
Key Target Audience:
• Consumer electronics manufacturers
• Lithium-ion battery distributors and providers
• Lithium-ion battery manufacturing companies
• Organizations, forums and alliances related to Lithium-ion battery market
• Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturer and partners, end users etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Report Scope:
In this report, global Lithium-ion battery market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Market, By Type
o Lithium Cobalt Oxide
o Lithium Nickel Manganese Cobalt Oxide
o Lithium Manganese Oxide
o Lithium Iron Phosphate
o Others
• Market, By Shape
o Cylindrical Cell
o Pouch Cell
o Prismatic Cell
o Button Cell
• Market, By Capacity
o Upto 4000 mAh
o 4001 mAh to 15000 mAh
o 15001-50000 mAh
o Above 50000 mAh
• Market, By Application
o Consumer Electronics
o Medical Devices
o Utilities & ESS
o Telecom Towers
o Manufacturing
o Automotive & Traction
o Others
• Market, By Region
o Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Singapore
- Malaysia
- Rest of Asia-Pacific
o Europe
- France
- Germany
- United Kingdom
- Italy
- Russia
- Rest of Europe
o North America
- United States
- Mexico
- Canada
- Rest of North America
o South America
- Brazil
- Argentina
- Colombia
o Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Egypt
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in global lithium-ion battery market.
Available Customizations:
With the given market data, we offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
• Detailed analysis and profiling of additional market players (up to five).
Profit Margin Analysis
• Profit margin analysis in case of direct and indirect sales channel.
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