Global Lithium Ion Battery Market by Type (Cathode Material, Anode Material, Electrolyte Material, Separator Material, Other), Materials, Power Capacity, Industry, Region Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2018 to 2025
New Jersey, NJ, Oct. 21, 2019 (GLOBE NEWSWIRE) -- A rise in demand for plug-in vehicle and adoption of automation and battery-operated material-handling equipment in industries are the two key drivers for the growth of the market. The global lithium-Ion battery market is expected to grow from USD 26.4 Billion in 2017 to USD 107.6 Billion by 2025 at a CAGR of 19.2% during the forecast period 2018-2025, according to the new report published by Fior Markets.
Lithium-ion (Li-ion) batteries are defined as the rechargeable batteries which have high-energy density and are majorly used in portable equipment. Lithium-ion batteries are basic rechargeable batteries for portable electronics, with a tiny memory effect and low self-discharge. LIBs are gaining popularity in the military, battery electric vehicle and aerospace applications. Due to the increasing adoption of smartphones, tablets/PCs, digital cameras and power tools, the demand for these batteries has gradually increased.
Increasing demand for smart devices and other industrial goods is a major factor driving the market. Also, growing need for lithium-ion batteries for numerous industrial applications and increased adoption of automation and battery-operated material-handling equipment in industries are two factors fuelling the growth of the market. However, there are some issues regarding storage and transportation of spent batteries which may obstruct the growth of the market. Nevertheless, downfall in the prices of lithium-Ion batteries may boost the market in the forthcoming years.
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Key players operating in the global lithium-ion battery market include Automotive Energy Supply Corporation, Panasonic Corporation, Samsung SDI Co. Ltd., LG Chem Power (LGCPI), LITEC Co., Ltd., A123 Systems, LLC, Toshiba Corporation, Hitachi Chemical Co., Ltd., China BAK Battery Co. Ltd., and GS Yuasa International Ltd., Tesla, Johnson Controls International Plc., Saft Batteries, BYD Company Ltd., and among others. To enhance their market position in the global lithium-ion battery market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership.
- For instance, in September 2019, Eramet, BASF and SUEZ entered into a partnership to develop an innovative closed-loop process for the recycling of lithium-ion batteries, responding to the strong growth of the market in the coming years. The objective is to develop an innovative closed-loop process to recycle lithium-ion batteries from electric vehicles and to enable the production of new lithium-ion batteries in Europe.
- For instance, in September 2019, Lithium Werks B.V., a fast-growing lithium-ion battery and portable power solutions group, announced the acquisition of an energy storage system integrator LiiON®, LLC. The closing of the acquisition is expected to be finalized in the fourth quarter, pending customary closing conditions.
- For instance, in September 2017, Panasonic Corporation has decided to start the production of automotive lithium-ion batteries at a factory in Himeji, Hyogo Prefecture, and expand domestic production amid increasing demand for such batteries.
The other segment dominated the lithium-ion battery market with a market share of 35.60% in 2017
The materials segment is classified into cathode material, anode material, electrolyte material, separator material and other materials. The others segment is dominating the global lithium ion battery market with the highest market share of 35.60% in 2017. The other segment is expanding in terms of shares because of the use of materials like foils, binders, and separators which are of high importance.
Lithium Nickel Manganese Cobalt (LI-NMC) segment valued around USD 7.62 Billion in 2017
The type segment is divided into segments such as a Lithium Nickel Manganese Cobalt (LI-NMC), Lithium Iron Phosphate (LFP), Lithium Cobalt Oxide (LCO), Lithium Titanate Oxide (LTO), Lithium Manganese Oxide (LMO) and Lithium Nickel Cobalt Aluminum Oxide (NCA). Lithium Nickel Manganese Cobalt (LI-NMC) segment accounted for the largest value of around USD 7.62 Billion in 2017. The NMC batteries have better energy density due to good stability and the proportionate use of nickel manganese and cobalt.
3,000 to 10,000 mAH segment held the highest market share of 38.40% in 2017
The power capacity segment includes 0 to 3,000 mAH, 3,000 to 10,000 mAH, 10,000 to 60,000 mAH and More Than 60,000 mAH. The 3,000 to 10,000 mAH segment held the highest market share of 38.40% in 2017. Due to the rising number of consumer electronics and smartphones, the need for batteries with high power capacity has also increased.
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The consumer electronics segment is dominating with the highest share of 28.50% in 2017
The industry segment includes consumer electronics, automotive, aerospace and defense, marine, medical, industrial and power. The consumer electronics segment is dominating with the highest share of 28.50% in 2017. The increasing use of electronic devices such as cell phones, laptops, MP3 players, and GPS navigation systems is driving the growth of the consumer electronics industry for the lithium-ion battery market.
Regional Segment Analysis of the Lithium ion battery Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
Asia Pacific region dominated the global lithium-ion battery market with USD 10.53 Billion in 2017 whereas the North America region held the second dominant position in the market. The Asia Pacific region is dominating the market as it has a huge potential for many application areas within the lithium ion battery market. Also, due to a rise in the production of electric vehicles, the use of lithium ion batteries has substantially increased, thus, driving the growth of the market. North America is the fastest-growing region owing to the increase in their use in the production of electric and hybrid vehicles.
About the report:
The global lithium ion battery market is analysed on the basis of value (USD Billion), volume (‘000 Units), consumption (‘000 Units), import (‘000 Units), and export (‘000 Units). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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