The global lithium-ion battery market held a market value of USD 48,658.4 Million in 2021 and is estimated to reach USD 67,818.9 Million by the year 2030. The market is anticipated to register a CAGR of 5.3% during the forecast period.
Lithium-Ion Battery Market Status, Trends and COVID-19 Impact Report 2021, Covid 19 Outbreak Impact research report added by Report Ocean, is an in-depth analysis of market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends, and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider Lithium-Ion Battery Market , and compares it with other markets., market definition, regional market opportunity, sales and revenue by region, manufacturing cost analysis, Industrial Chain, market effect factors analysis, Digital Evidence Management market size forecast, market data & Graphs and Statistics, Tables, Bar &Pie Charts, and many more for business intelligence. Get complete Report (Including Full TOC, 100+ Tables & Figures, and Chart). – In-depth Analysis Pre & Post COVID-19 Market Outbreak Impact Analysis & Situation by Region
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A release on June 8th, 2021, by the Bureau and Economic Analysis and U.S. Census Bureau reports the recovering of the U.S. market. The report also described the recovery of U.S. International Trade in July 2021.In April 2021, exports in the country reached $300 billion, an increase of $13.4 billion. In April 2021, imports amounted to $294.5 billion, increasing by $17.4 billion. COVID19 is still a significant issue for economies around the globe, as evidenced by the year-over-year decline in exports in the U.S. between April 2020 and April 2021 and the increase in imports over that same period of time. The market is clearly trying to recover. Despite this, it means there will be a direct impact on the Healthcare/ICT/Chemical industries, resulting in a large market for Lithium-Ion Battery.
Lithium-ion batteries are a type of rechargeable battery. They are quite commonly used in electric vehicles and portable electronics. It also has numerous applications in the military and aerospace sectors. The market is witnessing mid-single-digit growth owing to the factors such as increasing penetration of electric vehicle sales and rising adoption of consumer electronics.
The market is expected to be negatively influenced by the heavy reliance on imports of lithium-ion batteries and the availability of limited technical information about them. Furthermore, safety concerns regarding the storage and transportation of spent batteries are also estimated to hinder market growth.
Cobalt, nickel, lithium, copper, and graphite are the primary metals used in manufacturing of lithium-ion batteries, constituting approximately 50 to 60% of the total cost of the batteries. Furthermore, the cost of lithium-ion batteries is dependent on various components, such as equity return, tax, depreciation, working capital, term loan, S&G, overheads, R&D, O&M, insurance, labor, energy, separator, Mn+Ni+Co, Graphite, and Lithium, among others. The material cost contributes to near about 66%. The cost of lithium-ion batteries in electric vehicles is also dependent on various components; include pack components, cell material, depreciation/financing, overheads, margin & warranty, and labor, among others. The pack components contribute to a major share of the cost.
Increasing penetration of electric vehicle sales
The main source of power for electric vehicles is lithium-ion batteries. The rising adoption of electric vehicles owing to the increasing awareness regarding the environmental impact of non-electric vehicles is expected to boost the market growth. The sales of electric vehicles are rapidly rising owing to their high popularity as they have very fewer maintenance costs as compared to their counterparts and they are also energy savings. Due to these factors, electric vehicles are considered the future of the automobile industry, hence also boosting the demand for lithium-ion batteries.
Increasing adoption of consumer electronics
Lithium-ion batteries are used in consumer electronics, such as smartphones, digital cameras, and power tools, among others. Since the demand for high battery power for the wireless device is continuously increasing; the demand for lithium-ion batteries is also rapidly increasing. Other examples of consumer electronics, using lithium-ion batteries include, wearable devices, laptops, tablets, computers, TVs, VR & AR devices, and gaming consoles, among others. Rising demand for all these devices is expected to fuel market growth.
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The global lithium-ion battery market is segmented into type, power capacity, application, and form/design.
Lithium Nickel Magnesium Cobalt (LI-NMC)
Lithium Ferro Phosphate (LFP)
Lithium Cobalt Oxide (LCO)
Lithium Titanate Oxide (LTO)
Lithium Manganese Oxide (LMO)
Lithium Nickel Cobalt Aluminum Oxide (NCA)
The lithium nickel magnesium cobalt (LI-NMC) segment is anticipated to hold the largest market share and is also expected to grow at the fastest CAGR of 36% owing to its growing adoption in electric bikes, power tools, and other such electric tools. The lithium manganese oxide (LMO) is estimated to grow at a CAGR of 19.8%.
By Power Capacity,
More than 60,000 mAH
The 3,000-10,000 mAH segment is expected to grow at the fastest rate and is anticipated to surpass USD 60,500 million by 2024. The more than 60,000 mAH segment is estimated to grow at a CAGR of 18.7% during the forecast period.
Consumer Electronics OEMs
o UPS Systems
o Smart Cameras
o Smart Watches
o Smart Glasses
o Smart Textiles
o Hybrid Electric Vehicles (HEVs)
o Battery Electric Vehicles (BEVs)
o Others (Service Stations/Dealers)
o Industrial Equipment
The automotive OEMs segment is anticipated to grow at the largest share of about 60% owing to the rising applications of lithium-ion batteries in battery-driven vehicles. Amongst the automotive OEMs, the hybrid electric vehicles segment is expected to grow at a CAGR of 24.8%.
The cylindrical segment is anticipated to hold the largest market share owing to the high demand for cylindrical-shaped lithium-ion batteries. The prismatic segment is expected to grow at the fastest growth rate over the forecast period.
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By region, the global lithium-ion battery market is divided into Europe, North America, Asia Pacific, Middle East & Africa, and South America.
The Asia Pacific region is expected to hold the largest market share owing to the presence of nations, such as China and Japan. These are the second and third largest electric vehicles market globally. Furthermore, Asia Pacific is one of the largest smartphone manufacturers, globally, which is also expected to contribute to the market growth.
The European region is anticipated to grow at the fastest growing rate of 24.7% owing to the rising awareness regarding lithium-ion batteries. Furthermore, increasing demand for consumer electronics. The North American region is also anticipated to grow at a considerable rate.
Key players operating in the global lithium-ion battery market include BYD Company, LG Chem, Panasonic Corporation, Samsung SDI, BAK Group, Hitachi Corporation, Johnson Controls, Toshiba Corporation, Raja Groups, Tata Chemicals, TDK Electronics AG, Sony Corporation, Murata Manufacturing Co., Ltd., Amperex Technology Limited, LITEC Co., Ltd, GS Yuasa International Ltd, and Automotive Energy Supply Corporation, among others.
Major 6 players in the market hold approximately 64% of the market share. These market players are investing in product launches, collaborations, mergers & acquisitions, and expansions to create a competitive edge in the market. For instance, in July 2021, BYD UK partnered with Alexander Dennis Limited to extend their electric vehicle partnership and sign an agreement with the National Transport Authority of Ireland for delivering 200 BYD ADL Enviro200EV zero-emission battery-operated electric busses. The delivery is expected to commence by 2022.
The global lithium-ion battery market report provides insights on the below pointers:
Market Penetration: Provides comprehensive information on the market offered by the prominent players
Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the global Lithium-ion battery market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
Pricing Analysis: Pricing analysis of various metals and other components used in the manufacturing of lithium-ion batteries
Manufacturing Cost Analysis: Cost-share of various components in LiB, cost analysis of EV LiB, Cost Analysis of Consumer Grade LiB, Unit Cost Analysis of EV Battery Pack, Cell Component Cost Analysis EV LiB Battery, Cell Component Cost Analysis LiB Battery
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The global Lithium-ion battery market report answers questions such as:
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What modes and strategic moves are considered favorable for entering the Global Lithium-ion battery Market?
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