Owing to their numerous benefits, the sales of lithium ion battery powered cars have grown by more than 10 times over the period 2013-2019. In addition, the anticipated ban on IC engine vehicles by 2030 is likely to further drive the demand for these batteries within the automobile industry.
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Key Market Insights
Lithium Nickel Manganese Cobalt Oxide (NMC) batteries presently capture the highest share
NMC batteries, primarily used in buses and cars, represent more than one-third of overall market share (in terms of revenues generated from battery sales). Other popular battery types that are expected to witness significant growth in the foreseen future, are lithium titanium oxide (LTO) batteries and lithium iron phosphate batteries (LiFEPO4).
Electric four wheelers are expected to capture over 50% of the market by 2030
In developed geographies, e-buses and e-cars are likely to drive significant growth in battery sales; specifically, e-cars are anticipated to dominate the market throughout the forecast period. On the other hand, lithium-ion battery powered three wheelers are anticipated to contribute to revenue generation in developing nations, such as India, China and Africa. Currently, China holds the top position among the world's largest manufacturers of lithium ion batteries for automotive applications.
By 2025, the global lithium-ion battery production capacity could reach up to 1,112 GWh
In 2019, lithium ion batteries with 48-99 WH capacity are anticipated to capture over 30% of the global market. However, batteries with a capacity of more than 250 KWh are expected to grow at a rapid rate, due to the growing number of electric buses across the world, specifically, in the US, UK and China.
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Key Questions Answered
- What are the popular types of lithium-ion batteries?
- How are lithium-ion batteries more profitable than other batteries?
- Who are the key players within the automotive lithium-ion battery market?
- What is the current and future capacity of lithium-ion batteries?
- What are the key geographies with manufacturing capabilities for lithium-ion battery powered electric vehicles?
- How is the current and future market opportunity likely to be distributed across key market segments?
- How is the current and forecasted opportunity likely to be distributed across two wheeler-, three wheeler- and four wheeler electric vehicles?
The USD 95.3 billion (by 2030) financial opportunity within the global automotive lithium-ion battery market has been analyzed across the following segments:
- Battery Type
- Lithium Nickel Manganese Cobalt Batteries
- Lithium Titanium Oxide Batteries
- Lithium Iron Phosphate Batteries
- Vehicle Type
- Two Wheelers
- Three Wheelers
- Four Wheelers
- Battery Capacity
- 5-47 Wh
- 48-99 Wh
- 100-250 KWh
- More than 250 KWh
- Key Geographical Regions
- North America
- RoW (Latin America, Middle East, and Africa)
The research covers profiles of key players that offer contract manufacturing services for medical devices, featuring an overview of the company, its service portfolio, details on manufacturing facilities, and an informed future outlook.
- Exicom Power Solutions
- LG Chem
- Samsung SDI
- Contemporary Amperex Technology
- A123 Systems
- Johnson Controls
- Oxis Energy
- NOHMs Technologies
- GoZero Mobility
- RELiON Battery
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SOURCE Roots Analysis