BANGALORE, India, Feb. 17, 2020 /PRNewswire/ -- Lithium-ion (Li-ion) batteries are high-energy rechargeable batteries and mostly used in portable devices. Significant growth is expected for these batteries due to increased use in smartphones, tablets / PCs, digital cameras, and power tools. Features such as better reliability and performance has further led to its increased demand of lithium-ion batteries.
It is estimated that the global lithium-ion battery market will grow from USD 343,521.50 million in 2018 to USD 896,521.30 million by the end of 2025 at a compound annual growth rate (CAGR) of 14.68%.
Major drivers of the market are the emergence of electric vehicles and energy storage systems (ESS), decreasing lithium-ion battery prices, and rising consumer electronics sales. However, the increasing demand-supply mismatch of the raw materials is likely to impede market growth.
The market for Lithium-ion has been strategically segmented into Lithium Cobalt Oxide, Lithium Iron Phosphate, Lithium Manganese Oxide, Lithium Nickel Cobalt Aluminum Oxide, Lithium Nickel Manganese Cobalt Oxide, and Lithium Titanate based on its type to provide an in-depth analysis.
TRENDS INFLUENCING THE LITHIUM-ION MARKET SIZE
The growing acceptance of clean energy technology along with growing demand for energy storage systems (ESS) would boost growth in the lithium-ion battery industry. ESS mitigates energy security issues and offers a cost-effective & sustainable solution to meet the growing demand for energy. Several countries around the world have set goals aimed at curbing carbon emissions and encouraging clean energy technology, which will, in turn, accelerate product penetration.
The demand for lithium-ion batteries from automotive applications is expected to see robust growth due to the increasing emphasis on zero-emission vehicles, coupled with the implementation of comprehensive subsidy schemes and incentives for EV adoption. Continuous technological advances towards improving battery life & performance optimization, along with increasing demand for personal mobility, would improve product penetration. Increasing investment towards the construction of EV charging infrastructure will also further stimulate the growth of the industry.
Li-ion battery recycling is expected to protect the supply of raw materials, such as lithium and cobalt, and reduce the reliance on mineral resources for mining and refining. Electric vehicles lithium-ion batteries can be recycled to be used as component materials for the manufacturing of lithium-ion batteries designed to be used for Energy Storage Systems.
Massive investments for improving the design and construction of specialized storage systems is expected to drive down costs of Lithium-ion battery. This will increase the adoption of battery-based energy storage systems further and can, in turn, increase the market for Lithium-Ion.
REGION WISE LITHIUM ION BATTERY MARKET SHARE ANALYSIS
The global market share for Lithium-Ion batteries was dominated by the Asia-Pacific region in 2018. With the increasing deployment of electric vehicles in countries, such as China and India, and the high demand for electronics, the usage of lithium-ion batteries is expected to witness significant growth in the region.
China is one of the largest electric vehicle markets, and the country's growing adoption of electric vehicles was in line with its clean energy policy. In addition, China's government has provided financial as well as non-financial incentives to encourage the adoption of electric vehicles.
India is expected to emerge as a regional hotspot for global lithium-ion battery players over the forecast period in line with its aspiration to achieve 100 percent electric vehicle (EV) sales by 2030.
SEGMENT WISE LITHIUM ION BATTERY MARKET SHARE ANALYSIS
Due to its high energy density, lithium nickel manganese cobalt (Li-NMC) batteries are predicted to see the highest growth rate during the projected time period. NMC batteries are used in applications such as e-bikes, electronic equipment, medical devices, and other electrical power rains.
The report deeply explores the recent significant developments by the leading vendors and innovation profiles in the Global Lithium-ion Battery Market including are
GS Yuasa Corporation,
Automotive Energy Supply Corporation,
China BAK Battery Co. Ltd,
Johnson Controls, Inc.,
On the basis of Type, the Global Lithium-ion Battery Market is studied across
Lithium Cobalt Oxide,
Lithium Iron Phosphate,
Lithium Manganese Oxide,
Lithium Nickel Cobalt Aluminum Oxide,
Lithium Nickel Manganese Cobalt Oxide,
On the basis of Power Capacity, the Global Lithium-ion Battery Market is studied across
0 to 3000mAH,
10000mAh to 60000mAH,
3000mAH to 10000mAH.
On the basis of Application, the Global Lithium-ion Battery Market is studied across
For the detailed coverage of the study, the market has been geographically divided into the
The market size of Global Lithium-Ion Battery Separator (Lithium Battery Separator) will increase from USD 2400 million in 2018 to USD 4780 million by 2025, at a CAGR of 9.0 percent during the forecast period.
Lithium-ion battery separators are polypropylene (PP), polyethylene (PE), or PP / PE / PP trilayer electrolyte membranes that play a critical role in separating the cathode from the anode. It is this charging isolation that enables the electricity generation of the battery. It is commonly used in consumer electronics, power engines, power storage, and industrial applications.
This report analyses the market size (value, efficiency, production, and consumption) of the worldwide Lithium-Ion Battery Separator (Lithium Battery Separator) in key regions such as the United States, Europe, Asia Pacific (China, Japan), and other regions.
The demand for 18650 Lithium Battery was priced at USD 6030 million in 2018 and is projected to reach USD 6860 million by 2025, at a CAGR of 1.6 percent over the forecast period.
The 18650 battery is an 18 mm x 65 mm graded lithium-ion cell, which is slightly larger than an AA battery. Due to their superior power and discharge rate, they are often used in flashlights, laptops, and other high-drain devices.
This study presents the worldwide market size of 18650 lithium battery (value, production, and consumption), splits the breakdown by producers, area, form, and application (data status 2014-2019 and forecast to 2025). This research also analyzes the market status, market share, growth rate, future trends, market dynamics, opportunities and challenges, risks and barriers to entry, sales channels, distributors, and Porter's Five Forces Analysis.
The compact size and reliability of the Lithium battery, as opposed to its traditional equivalents, have led to an increase in demand for a rechargeable lithium battery. The rechargeable lithium battery market is expected to grow at a rapid pace due to its widespread adoption in various industries like healthcare, automotive, etc.
The report strategically segments the market into Cylindrical Battery, and Prismatic Battery based on its type and into Consumer Electronics, Automotive, Aerospace and Defense, Medical, Industrial, and Power Industry based on its application to provide readers an in-depth understanding of the market.
Increasing demand for e-bikes due to changing consumer preference for energy-efficient vehicles will increase growth in the industry.
This study presents the worldwide Li-ion battery for the market size of e-bikes (value, production, and consumption), divides the breakdown by manufacturers, area, form, and application (data status 2014-2019 and forecast to 2025).
5) Global Automotive Lithium-Ion Battery Pack Market
The penetration of lithium-ion battery packs in the automotive sector is growing due to the efficiency and feasibility it offers when compared to its other counterparts.
The market is segmented into Hybrid Electric Vehicle (HEV), Plug-In-Hybrid Vehicles (PHEV), and Full Battery Electric Vehicle (BEV) to give readers a better insight into the penetration Automotive Lithium-Ion battery packs.
This study focuses on the volume and value of the Automotive Lithium-Ion Battery Pack at global, regional, and enterprise levels. From a global perspective, this study reflects the overall market size of the Automotive Lithium-Ion Battery Pack by evaluating historical data and prospects for the future. The study focuses regionally on several main regions: North America, Europe, China, and Japan.
The principal component in the lithium-ion battery is the cathode material. The cathode material is the one that defines the cell's energy density. Cathode material selection depends on different factors, such as cell voltage, efficiency, energy & power resources, cycle life, and operating temperature. In the cathode of a lithium-ion battery, various materials such as cobalt, manganese, phosphate, nickel cobalt manganese (NCM OR NMC), lithium iron phosphate (LFP), and others are used.
Enhanced reliability and compatibility of lithium-ion batteries have led to their increase in demand, which in turn fuels the demand for cathode materials. Furthermore, increase in applications of lithium-ion batteries has driven the market growth. However, heating of the lithium-ion battery is a major concern, which restrains the market growth. The development of superior lithium-ion batteries with higher capacity and better heat management is expected to provide lucrative opportunities for the market growth.
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