ID: MRFR/SEM/5849-CR | 146 Pages | Published By Aarti Dhapte on February 2019
Lithium Battery Charger ICs Market is expected to touch a valuation of USD 36 Billion by 2030, registering a 22.2% CAGR over the forecast period (2020-2030)
Global Lithium Battery Charger ICs Market is expected to touch a valuation of USD 36 Billion by 2030, registering a 22.2% CAGR over the forecast period (2020-2030).
Lithium battery charger ICs can support three times faster charging than other products available in the market while also delivering significantly longer battery life. The IC architecture can charge the battery cells with high accuracy and efficiency, regardless of whether the voltage from the charging cable or wireless charging pad is higher or lower than the final voltage of the battery.
The IC chips also integrate the power path management that can handle more power than other battery chargers in a smaller package. The uses of ICs in battery management ensure boosted battery life and space-saving inside smartphones, consumer electronics, and other devices. Resultantly, lithium battery charger ICs are increasingly used in smart electronics devices.
The COVID-19 outbreak has resulted in the closing down of several IC charger lithium battery manufacturing facilities across the globe, causing huge revenue losses in end-use industries like consumer electronics, energy & power, automotive, and others. The coronavirus-driven lockdown halted the production of several key raw materials in the global market, which resulted in spiking prices of lithium battery charger ICs.
However, the market is again gearing up with the lockdown limitations, getting relaxed with time. Innovative industry players actively started to look for increasing application areas of lithium battery charger ICs in monitoring and tracking devices developed for the COVID 19 treatment. The product demand in end-use sectors could pick up following the uplift of the lockdown in numerous countries.
Lithium-ion batteries are rechargeable and have a great life cycle with a high energy density, required to provide better performance and higher reliability. The lithium-ion battery serves as a great option for the new devices emerging in the market, which run on a portable power source. Resultantly, lithium-ion batteries are extensively used in various appliances and electronics required in energy & power, automotive, other sectors. The extensive demand from the consumer electronics and automotive sectors allows the lithium battery charger ICs market share to grow significantly.
The global market of lithium-ion batteries has experienced tremendous growth over the past decade. This trend, in turn, is projected to allow the lithium-ion battery charger ICs market to exponentially accrue further. The lithium battery charger ICs market size is also boosted by the expanding demand for smart devices and other consumer electronic products. Besides, the emergence of electric and hybrid electric vehicles induces the lithium battery charger ICs market demand.
Lithium batteries use cathodes with nickel and cobalt, as well as solvent-based electrode processing, which has the highest environmental impacts. These include global warming, ecological toxicity, resource depletion, and human health impacts. The toxicity impacts of lithium cause adverse respiratory, pulmonary, and neurological effects in those exposed.
The introduction of strict environmental norms in several countries could restrain the ongoing market growth, affecting the sales and consumption of lithium battery charger ICs in the coming years.
Concerns about overheating and thermal stability of Li-ion batteries can pose a challenge to market growth.
Cumulative Growth Analysis
The rising adoption of robots across the industrial sector is projected to favor the lithium battery charger ICs market. Also, the adoption of automated processes to expedite production in manufacturing and other sectors would propel the growth of the market. Moreover, the rise in disposable income among consumers is expected to positively impact the lithium battery charger ICs industry growth.
Lithium Battery Charger ICs Market is segmented into Four Dynamics; Charger Type, Appliance, End-User, and Region.
By charger type, the switching battery chargers segment dominated the market share, accounting for a value of USD 3.37 billion in 2017. Switching battery chargers are well-known for their rapid charging capacity, offering a unique combination of switching frequency, circuit layout, and component selection that can reduce electrical noise.
Resultantly, switching battery chargers are extensively used in multi-cell and high-power batteries designed for smartphones, notebooks, and tablets. The segment is projected to accrue USD 9,279.3 million for the market by 2023. On the other hand, the SMBus/I2C/SPI controlled battery chargers segment is expected to reach USD 3,168.7 million by 2023, growing at 25.66% CAGR over the forecast period.
By appliances, the small appliances segment dominated the market with a valuation of USD 4.05 billion in 2017. The segment I anticipated to generate revenue close to USD 10,550.8 million by 2023, heading with the increasing use of battery chargers in mobile phones, power banks, and digital cameras. On the other hand, the gardening tools segment is forecasted to grow at 24.30% CAGR over the predicted period. Increasing uses of gardening tools for maintenance of lawns and gardens spurs the segment growth.
By end-user, the consumer electronics segment dominates the lithium battery charger ICs market. In 2017, the segment valued at USD 5.62 billion due to the rising use of charger ICs in the consumer electronics sector. The consumer electronics segment is estimated to create a value of USD 15,570.5 million by 2023, with a 19.93% CAGR heading with the increasing adoption of electronics products.
On the other hand, the automotive segment is likely to grow at 23.72% CAGR during the assessment period. Emergence of electric, hybrid, and plug-in hybrid vehicles facilitates segment growth.
North America has remained the market leader since 2017 and could continue to maintain its winning streak throughout the assessment period. Factors such as the augmenting demand for Li-ion batteries in smartphones and other consumer electronic devices increase the consumption and sales of lithium-ion battery charger ICs in the region. North American lithium battery charger ICs market size reached USD 4.10 billion in 2017, which is expected to increase to USD 12,225.9 million by 2023, registering a 21.32% CAGR over the forecast period.
Europe held the second biggest share in the global market, accounting for USD 1.79 billion revenues in 2017. The lithium battery charger ICs market growth in Europe is expected to exhibit a 17.89% CAGR during the assessment period. Factors such as the rising clean energy generation and focus on reducing the dependence on fossil fuels are likely to accelerate the lithium battery charger ICs market share in the region.
The increasing development of electric and hybrid vehicles in the region drives the lithium battery charger ICs market demand. Germany is expected to be the biggest market for IC charger lithium batteries in the region. The European lithium battery charger ICs market can accrue close to USD 978.87 million by 2023, heading with the presence of various automotive behemoths.
The APAC region also holds a considerable share in the global market. Factors such as the inclination towards the development of renewable energy projects and the presence of noteworthy players accelerate the lithium battery charger ICs market growth in the region. Additionally, investments by semiconductor companies to enhance the charging capacities of Li-ion batteries increase the size of the regional market. The APAC lithium battery charger ICs market is projected to grow at 23.11% CAGR.
The worldwide lithium battery charger ICs market appears extremely fragmented, considering the presence of well-established manufacturers and distributors. They seek opportunities to integrate across the extensive value chain while focusing on R&D investments, production facility expansion, and M&A activities to gain impetus. New ICs manufacturers enter the market with aggressive pricing to undercut the established providers and gain footholds in international markets.
STMicroelectronics NV is a well-reputed company in the lithium battery charger ICs industry. STM designs, develops, manufactures, and markets semiconductor integrated circuits and discrete devices used in the telecommunications, consumer electronics, automotive, computer, and industrial sectors. The company has a geographical presence in North America, Europe, and the Asia Pacific region.
List of Key Companies
The report features unique and relevant factors expected to significantly impact the lithium battery charger ICs market during the forecast period. The detailed and considerable amount of information in the report would help industry players understanding the market better. The MRFR report elaborates on the historical and current trends boosting the lithium battery charger ICs market growth.
Besides, the analysis of COVID-19 impact on the lithium battery charger ICs industry is also included in the report. Regional assessment explained in this report unlocks a plethora of untapped opportunities in regional and domestic market places. Detailed company profiling in the region enables users to evaluate company shares analysis, emerging product lines, the scope of the product in new markets, pricing strategies, innovation possibilities, and much more.
By Charger Type
|Market Size||USD 36 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Charger Type, Appliance, End-user and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||STMicroelectronics NV (Switzerland), Vishay Intertechnology Inc. (US), Microchip Technology Inc (US), TOREX Semiconductor Ltd. (Japan), ROHM Company Ltd (Japan), Future Technology Devices International (FTDI) Chip (UK), ON Semiconductor Corporation (US), Diodes Incorporated (US), Intersil Corporation (US), Active-Semi Inc. (US), Monolithic Power Systems Inc (US) and Shanghai Nanxin Semiconductor Technology Co. Ltd. (China),|
|Key Market Opportunities||Rise in Consumer Electronics Sector to Present Robust Opportunities|
|Key Market Drivers||Rising Uses of Lithium-ion Battery to Bolster Growth|
Energy & Power, Consumer Electronics, Automotive, are some of the main end-users in the global market.
Mounting demand for smart devices as well as other consumer electronic products and emergence of electric and hybrid vehicles can expand the market volume by 2030.
Surging concerns with regard to overheating as well as thermal stability of Li-ion batteries can be few primary challenges that the market can face in the coming years.
Asia Pacific can showcase the highest growth rate in the upcoming years.
Lithium battery charger ICs help control the voltage and facilitate the device safety by preventing it from crossing the expected threshold voltage.
Types of chargers analyzed in the report are pulse battery chargers, switching battery chargers, µModule battery chargers and buck/boost battery chargers, SMBus/I2C/SPI controlled battery chargers, linear battery chargers, among others.
The projections in the report are that the market value by 2030 can be USD 36 Billion.