lithium-ion battery market is expected to grow at a CAGR of 14.9% during the forecast period 2018 – 2025

Market Overview:

According to the new research report published by The Insight Partners, titled “Lithium-ion Battery - Global Analysis and Forecast to 2025”, The global lithium-ion battery market is expected to grow at a CAGR of 14.9% during the forecast period 2018 – 2025, to account to US$71.04 Bn by 2025.

In 2017, Asia Pacific accounted for the largest revenue share in the lithium-ion battery market. High market share is primarily due to presence of major PEV and PHEV vehicle and E-Bike manufacturers such as BYD, KANDI, Zotye, Phylion and others. The region also includes the presence of high volume (units) electronic device product manufactures such as Toshiba and Samsung. Further, banning of fuel powered motorcycles in China has also resulted the increase penetration of Li-Ion batteries from 6% to 17% in the country. Further, government initiatives to promote in-house manufacturing in developing countries across the region is driving the sales of electronic components in the region thereby the paving the way for growth of Li-ion battery market.

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Key Players Influencing the Market

Automotive Energy Supply CorporationSamsung SDI Co. Ltd.Tesla, Inc.Toshiba CorporationA123 Systems LLCGS Yuasa International Ltd.Hitachi Chemicals Co. Ltd.LG Chem Ltd.Panasonic CorporationJohnson Controls International PLC

Key findings of the study:

Asia-Pacific is anticipated to account the largest lithium-ion battery market share and would register a CAGR of 14.6% Based on the type, Li Co oxide is projected to dominate the lithium-ion battery market >60,000 mAh led the lithium-ion battery market by power capacity in 2017 In 2017, automotive segment dominated the market by application

Li-ion batteries are used in a wide range of applications such as consumer electronics, automotive, energy storage systems, aerospace & defense, and medical & healthcare. These industries highly depend on Li-ion battery for powering electronic devices, medical devices, power systems, and electric vehicles including many others. Lightweight is the major concern while choosing the batteries for the range of applications in order to reduce the product weight. Li-ion batteries are a quarter of the weight of lead-acid batteries, thus, the preferred solution for high-performance products.

Modern devices rely more on Li-ion batteries which are extensively used in different types of consumer electronics and hybrid & electric vehicles. Along with this, the demand for wearable devices is getting higher such as smart watches and healthcare bands etc. The customers are demanding more from these batteries in terms of energy storage, the speed of recharge, and working conditions. Currently, Li-cobalt oxide battery, Li-ion phosphate battery, Li-titanate battery, Li-manganese oxide, and Li-nickel manganese cobalt oxide battery are few of the highly used lithium-ion batteries. However, there are certain heat-related issues related to the use of Li-ion batteries.

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Answers that the report acknowledges:

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