Lithium-ion Battery Market Size USD 129.3 Billion By 2027 At A CAGR of 18.0% | Valuates Reports
Nov 27, 2020, 09:30 ET
BANGALORE, India, Nov. 27, 2020 /PRNewswire/ -- The Lithium-Ion Battery Market is segmented by Component (Cathode, Anode, Electrolytic Solution, and Others), End-use Industry [Electrical & Electronics (Smartphones &Tablet/PC, UPS, and Others) and Automotive (Cars, Buses, &Trucks; Scooters & Bikes;and Trains & Aircraft), and Industrial (Cranes & Forklift, Mining Equipment, and Smart Grid & Renewable Energy Storage). It also covers Global Opportunity Analysis and Industry Forecast to 2027. This report is published on Valuates Reports in the Chemical Industries Category.
The global lithium-ion battery market was valued at USD 36.7 billion in 2019 and is projected to hit USD 129.3 billion by 2027, at a CAGR of 18% from 2020 to 2027.
Major factors driving the growth of lithium-ion battery market size are growing R&D initiatives, increasing consumer electronics adoption, increasing demand for plug-in vehicles, rising need for automation, and battery-operated material-handling equipment in industries.
Advocacy for public and private investment in hybrid cars and electric vehicles has resulted in an increase in research and development (R&D) aimed at producing more efficient and cost-effective lithium-ion batteries. This high level of interest has also led to a rapid expansion of the battery production capacity and has resulted in overcapacity and fragmentation in the Lithium-ion battery market.
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TRENDS INFLUENCING THE LITHIUM-ION BATTERY MARKET SIZE
The recycling initiative that has been started is expected to increase the lithium-ion battery market size. Recycled Li-ion batteries are expected to protect the supply of raw materials, such as lithium and cobalt, and to reduce the dependency on mining and processing materials from natural resources. The recycling of lithium-ion batteries currently used in electric vehicles offers an excellent opportunity for companies to use the refined constituent materials to manufacture lithium-ion batteries to be used in energy storage systems (ESS).
Li-ion batteries can be recharged hundreds of times and are more stable. They seem to have a higher energy density, voltage power and lower self-discharge rates than other rechargeable batteries. This increases power efficiency as a single cell has more charge retention than other forms of batteries. These features are, in turn, expected to fuel the growth of the Li-ion battery market size.
Electrical Vehicles, Large-scale energy storage and stationary standby applications such as UPS and switchgear & control are expected to drive Lithium-ion battery market size.
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LITHIUM-ION BATTERY MARKET SHARE ANALYSIS
Asia-Pacific region is expected to hold the largest Lithium-ion battery market share. This dominance of the Asia Pacific region is an attribute to the growing technological changes and increasing government emphasis on reducing greenhouse gas emissions. The area also has a well-established infrastructure that allows for faster adoption of advanced technologies. In addition, the increasing number of manufacturers supplying lithium-ion batteries at relatively lower prices is another major driver of the growth of the lithium-ion battery market in the region.
North America is expected to see considerable growth over the projected period due to increasing consumer electronics and automobile sales across countries such as the United States and Mexico. The rising demand for lithium-ion batteries in cell phones due to improved performance and extended battery life is expected to drive the Lithium-ion market size in the North American region. Europe and North America are major consumer segments due to a high degree of recognition of the need for energy-efficient batteries.
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KEY SEGMENTATION
By Component
- Cathode
- Anode
- Electrolytic Solution
- Others
By End-use Industry
- Electrical & Electronics
- Smartphones &Tablet/PC
- UPS
- Others
- Automotive
- Cars, Buses, & Trucks
- Scooters & Bikes
- Trains & Aircraft
- Industrial
- Cranes & Forklift
- Mining Equipment
- Smart Grid & Renewable Energy Storage
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Spain
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
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SIMILAR REPORTS
- The global Lithium-ion Battery Recycling market size is projected to reach USD 19380 million by 2026, from USD 2794.4 million in 2020, at a CAGR of 38.1% during 2021-2026. Major factors driving the growth of Lithium-ion Battery Recycling Market size are increased automotive battery usage, strict government regulation about battery disposal, and a surge in smartphone penetration and laptops.
- The global Lithium-Ion Battery Separator market size is projected to reach USD 15390 million by 2026, from USD 8084.2 million in 2020, at a CAGR of 11.3% during 2021-2026. Based on application, the Automotive segment is expected to hold the largest Lithium-Ion Battery Separator Market share of about 58%. Consumer Electronics holds the second-largest share of about 31%. The report includes a country-wise and region-wise market size for the period 2015-2026. It also includes market size and forecast by TypeType and the application segment in terms of sales and revenue for 2015-2026.
- The 18650 Lithium Battery market size was valued at 6030 Million US$ in 2018 and is projected to reach 6860 Million US$ by 2025, at a CAGR of 1.6% during the forecast period. With the increasing production capacity, it is expected that the 18650 Lithium Battery raw material price will be stable in the short term. However, the improvement of energy, transportation costs, and labor costs will play a significant role in promoting the 18650 Lithium Battery cost. This report presents the worldwide 18650 Lithium Battery market size (value, production and consumption), splits the breakdown (data status 2014-2019 and forecast to 2025) by manufacturers, region, TypeType and application.
- The lithium-ion battery cathode material market is segmented on the basis of type, end user, and geography. By type, the market is categorized into cobalt, manganese, phosphate, nickel cobalt manganese (NCM OR NMC), lithium iron phosphate (LFP), and others. By end user, it is classified into power tools, medical equipment, consumer electronics products, and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
- Global Rechargeable Lithium Battery Market is segmented by Product-Type: Cylindrical Battery, Prismatic Battery, Application: Consumer Electronics, Automotive, Aerospace and Defense, Medical, Industrial, Power Industry, Others, Region: Global,North America, Europe, Asia-Pacific, and LAMEA.
- GlobalAnode Grade Material of Lithium Ion Battery market size will increase to 4906. 7 Million USD by 2025, from 1937 Million USD in 2018, at a CAGR of 14. 2% during the forecast period. The report is segmented by Product: Anode Grade Material of Lithium Ion Battery, Lithium-ion batteries, Product-Type: Natural Graphite, Synthetic Graphite, Others, Application: Power Battery, Energy Storage Battery, Digital Battery, Others, Region: Global, North America, LAMEA, Middle East etc.
- The report represents overall Automotive Lithium Ion Battery Pack market size by analyzing historical data and future prospects. This report focuses on Automotive Lithium Ion Battery Pack volume and value at global level regional level and company level. The report is segmented by Product-Type: Less Than 20 KWH, 20-40 KWH, More Than 40 KWH, Application: Hybrid Electric Vehicle (HEV), Plug-In-Hybrid Vehicles (PHEV), Full Battery Electric Vehicle (BEV), Region: Global, North America, Asia Pacific, LAMEA, etc.
- Global Li Ion Battery for Ebikes Market Drivers and RestrainsThe research report has incorporated the analysis of different factors that augment the markets growth, Product-Type: Lithium Manganese Oxide Battery, Ternary materials Battery, Lithium Iron Phosphate Battery, Other, Application: Retail, Wholesale, Region: Global, North America, Europe, Asia-Pacific and Latin America.
- This report represents the overall Cylindrical Li Ion Battery market size by analyzing historical data and future prospects. The Report is segmented by Product-Type: LiCoO2 Battery, NMC/NCA, LiFePO4 Battery, Others, Application: Power Banks, Laptop Battery Packs, Electric Vehicles, Flashlights, Cordless Power Tools, Others, Region: Global, North America, Europe, China and Japan.
- This report focuses on Electrolyte of lithium ion battery volume and value at the global level regional level and company level. The report is segmented by Product-Type: Liquid Electrolyte, Solid Electrolyte, Application: Consumer Electronic Battery, Automobile Battery, Others, Region: Global, North America, Europe, China and Japan etc.
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