Lithium-Ion Battery Market Research Report - Forecast till 2027

Lithium-Ion Battery Market: by Type (Lithium Nickel Manganese Cobalt, Lithium Iron Phosphate, Lithium Cobalt Oxide, Lithium Titanate Oxide, Lithium Manganese Oxide, and Lithium Nickel Cobalt Aluminum Oxide) Forecast till 2027

ID: MRFR/SEM/0473-HCR | February 2021 | Region: Global | 100 pages

Lithium-Ion Battery Market Overview:

The international Lithium-Ion Battery Market Size is expected to show positive growth in the CAGR of 16% during the forecasting period till 2023.  Overall, there is an increase in the market size that can hit and reach up to 129.3 billion US Dollars. Lithium-Ion batteries are rechargeable batteries that most industries use for multiple purposes. These are long durable batteries that consist high density of energy.

The Lithium Battery Demand will show ultimate growth in the market during the forecast period. With increasing demands and requirements for consumer electronics and automotive industries, the market size is expected to show an optimistic expansion. The introduction of new devices with requirements of portable power leads to an increase in the demands of Lithium-Ion batteries.

Technological advancements and the introduction of smartphones and electronic vehicles have increased its demands in the global markets. Moreover, increasing initiatives in the Research and Development sectors and rising demands for plug-in vehicles also paved a great way to develop the Lithium-Ion Battery Industry.

Lithium-Ion Battery Market Covid 19 Analysis:
The Covid 19 pandemics have created a lot of difficulties in the global industrial sectors including this market as well. With the rising demand for continuous power supply from critical infrastructures during COVID-19 pandemics, there was an increase in demand for plug-in vehicles. Lithium-Ion Battery Livent Market is likely to contract in the current COVID-19 condition, as the pandemic is limiting the supply of batteries and other components due to severe disruptions in enterprises and the global economy.

The battery industry's supply chain has been influenced by the current international scenario. The COVID-19 pandemics have revealed the region's overdependence on critical raw supplies, particularly China. The shutdown of operations in China and other Asia Pacific countries has had a significant impact on battery makers in Germany, the United States, and Australia. Limited output has also resulted, resulting in a significant drop in company inputs. Government aid, as well as the degree of corporate debt and how companies and markets deal with reduced demand, all play a role in the recovery.

Market Dynamics:
Market dynamics are the important factors that affect the global market. This Lithium-Ion Battery Market Report depicts the essential factors that affect the market dynamics. The responsible factors are Drivers, opportunities, restraints, challenges, and cumulative growth analysis.

The responsible driving factors that increase the global market are growing demand for battery-operated material-handling equipment in industries because of automation, and continuous growth of smart devices. Moreover, some other market drivers are leading to the development of the Global Lithium-Ion Battery Market, such as an increase in demands of consumer electronic goods and the growing adoption of lithium-ion batteries.

The new devices and automobiles need portable power sources to run and operate. Thus, it enhances the requirements of lithium-ion batteries and boosts the market supplies. During the forecast periods of 2017 to 2023, this market will show an increase in demand due to the beneficial features of the product. For example, a long durable life span, high-density power supply, and lower battery prices will show tremendous growth in the market.

Rising demands for automotive, and high-power cells are essential factors that increase the Lithium-Ion Battery Market Demand. This increase and development are the market plays a vital role in market opportunities. An increase in the use of consumer electronic goods and smart devices is another leading factor in market opportunities. Lithium-ion batteries offer long-lasting services with reduction in prices and thus it helps in boosting the market demands. All these rising demands and developments in the global markets helps the industries to increase their market size in forthcoming years.

According to the Lithium-Ion Battery Market Analysis, the most essential restraining factors that hamper the growth are substantially changed market dynamics during the covid 19 conditions. The worldwide lockdown situation has affected the market dynamics negatively and thus it leads to a decline in the market. This factor hinders the market development and thus the industries have to put effort into overcoming this situation and gain international growth.

Due to the covid 19 outbreak, there was a decline in the energy industry supply chain. This energy specifically, includes battery energy storage systems and renewable energy technologies.  APAC is the main manufacturers of this battery and the uncertain pandemic situation impacted the supply chain. Also, the manufacturers of energy storage systems had faced a lot of difficulties due to the pandemics and lockdown. Thus, these regions have to combat the challenges and overcome them to grow and prosper.

Cumulative Growth Analysis:
The increasing demands for consumer electronics and battery-operated vehicles will expect to grow the Lithium-Ion Battery Market Share. There is an estimation that the market share will display a tremendous growth in the CAGR of 16 %. As per the Lithium-Ion Battery Market Statistics, the market value is expected to rise and reach 129.3 billion US Dollars during the forecasting period. Technology advancement and automotive industries will support the market growth.

Value Chain Analysis:
The rising demands in the automotive sectors, demands for battery-operated material-handling equipment will develop the market. According to the Lithium-Ion Battery Market Experts, the introduction of new devices in the forthcoming years will propel the rise in the global market. The growing need for smart devices and high-power cells will also support positive business growth.

Lithium-Ion Battery Market Segment Overview:
Some market segmentations are present in the Cylindrical Lithium-Ion Battery Market. According to the market research, the essential market segments are based on type, capacity, voltage, and industry.

By Type:

  • Lithium Nickel Manganese Cobalt

  • Lithium Manganese Oxide

  • Lithium Iron Phosphate

  • Lithium Cobalt Oxide

  • Lithium Nickle Cobalt Aluminum Oxide

  • Lithium Titanate Oxide

By Capacity:

  • 0- 3,000 mAh

  • 3,000-10,000 mAh

  • 10,000-60,000 mAh

  • 60,000 mAh and above

By Voltage:

  • Low (below 12V)

  • Medium (below 12V-36V)

  • High (Above 36V)

By Industry:

  • Automotive

  • Aerospace

  • Consumer Electronics

  • Marine

  • Industrial

  • Power

  • Telecommunication

  • Medical

Lithium-Ion Battery Market Regional Analysis:
Considering the Lithium-Ion Battery Market Facts, the geographical distributions covering this market are North America, Asia Pacific, Europe, and the Rest of the World. The Asia Pacific region has Lithium-Ion Battery Market Share throughout the world. After that Europe and the North American region follows the 2nd and 3rd largest market shares.

The region's growth can be ascribed to rising technological advancements as well as the government's high focus on minimizing greenhouse gas emissions and increasing the number of power outages. The region also has a well-developed infrastructure, allowing modern technology to be implemented more quickly. Another key element driving market expansion in the region is the expanding number of manufacturers offering lithium-ion batteries at comparably reduced pricing.

Lithium-Ion Battery Market Competitive Landscape:
According to the Lithium-Ion Battery Market Forecast, the international market is bearing a lot of competition. It is due to the presence of small as well as large-scale product manufacturers in several countries like the USA, China, and Japan. The significant market key players are innovating new ideas and techniques to survive in the market.

Purchasing new ventures, merging and collaborating ventures, and joint ventures are the techniques they are focusing on. Also, the key players are using R&D activities and product inventions to increase their Lithium-Ion Battery Market Growth.  The significant leading key players are as follows:

  • Panasonic Sanyo

  • A123 Systems

  • Automotive Energy Supply Corporations

  • Samsung SDI Company Ltd.

  • LG Chem.

  • GS Yuasa

  • Li-Tech Battery GmbH

  • Toshiba

  • BYD

  • Sony Corporation

  • SK Energy

  • Beijing Pride Power

  • BAK group

Recent Developments:

  • 2019: Bharat Heavy Electricals Limited and Libcoin have declared their intention to form cooperation to develop a 1 GWh lithium-ion battery factory in India.

  • August 2020: A manufacturer of rechargeable lithium-ion polymer (LIP) batteries known as Amperex Technology Limited, has purchased a 180-acre plot of land near Gurugram, Haryana, for INR 550 crore to build a lithium-ion polymer (LIP) battery production facility.

  • December 2020: Gujarat is home to India's first lithium refinery, which processes lithium ore to generate battery-grade material. This project is expected to be completed by Manikaran Power Limited, one of the country's leading power trading and renewable energy companies, which will invest more than INR 1,000 crore in the refinery's construction.

  • January 2021: In the Karnataka district- Mandla, the Department of Atomic Energy found 1600kg of lithium. As a result, India's untapped potential access to lithium reserves is likely to assure low-cost lithium-ion battery manufacture and dominance on the EV supply chain in the Indian market.

Report Overview:
The market report depicts the overall in-depth analysis of market dynamics including its positive and negative impacts, value chain analysis, market segmentation, recent developments, and some other essential factors. All the details mentioned here, are either generated from primary or secondary sources.

Report Details:

  • Historic Period: 2018-2021

  • Base Year: 2021

  • Forecast Period: 2021-2023

Geographic Distributions:

  • Europe

  • North America

  • Asia Pacific

  • Rest of the World

Report Scope:
Report Attribute/Metric Details
  Market Size   Significant Value
  CAGR   16%
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type, power capacity and vertical
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Panasonic Sanyo (Japan), Automotive Energy Supply Corporation (AESC) (Japan), LG Chem. (South Korea), SAMSUNG SDI Co., Ltd. (South Korea), Li-Tec Battery GmbH (Germany), Toshiba (Japan), A123 Systems (U.S.), GS Yuasa (Japan), SK Energy (South Korea), BYD (China), Sony Corporation (Japan), Beijing Pride Power (BPP) (China), BAK Group (China), Toshiba Corporation (Japan), Valence Technology, Inc.(U.S.), Hitachi Chemical Co. Ltd.(Japan), Johnson Controls, Inc.(U.S.), Saft Groupe SA (France), TDK Corporation(Japan)
  Key Market Opportunities

  • High demand from the consumer electronics and automotive sectors.
  • Increasing penetration into large applications.
  •   Key Market Drivers

  • Increasing demand for high power and high capacity.
  • The growing number of manufacturers providing lithium ion batteries at comparatively lower prices.

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    Frequently Asked Questions (FAQ) :

    Asia Pacific region occupies the largest share of the market across the globe for the lithium-ion battery market

    The global lithium-ion battery market’s CAGR is calculated to be approximately 16% in the growth phase.

    The essential factors hitting the market’s growth are directed towards increasing demand for high power and high capacity cells, increasing penetration into large applications as well as mounting demand for smart devices and other consumer electronics

    The growth in the Asia Pacific is attributed to the intensifying technological augmentations and snowballing focus of government headed for reducing greenhouse gas emission and upsurge in many power outages. Even the region is blessed with a well-established infrastructure that allows advanced technologies to enter, thus thriving the market.

    Panasonic Sanyo (Japan), Automotive Energy Supply Corporation (AESC) (Japan), LG Chem. (South Korea) are the top key players mentioned in the study as they contribute substantially to the market’s share.

    Lithium-Ion battery refers to a kind of rechargeable battery which is used in various industries for various purposes. These batteries consists great life cycle with the high energy density