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Lithium Ion Battery Market Ravishing Growth Rate of 16% CAGR Forecasts by 2023

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Lithium Ion Battery Market Ravishing Growth Rate of 16% CAGR Forecasts by 2023

November 28
18:13 2017

Lithium Ion Battery industry
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 2023

Market Highlights

The global lithium-ion battery market is projected to witness a rapid growth during the forecast period. Increasing emergence of cloud-based technologies is a major factor driving the growth of the market. Moreover, increasing demand for lithium-ion battery across various industry verticals such as automotive, healthcare, manufacturing, retail and IT & telecommunications is fueling the growth of the global market.

 

The global Lithium Ion Battery Industry, by geography, is segmented into North America, Europe, Asia Pacific, and Rest of the World. As compared to other regions, the lithium-ion battery market in Asia Pacific is expected to witness a significant growth and hold the largest market share during the forecast period. China, South Korea and Japan are anticipated to drive the growth of the North American lithium-ion battery market owing to the presence of a large number of established key players such as Toshiba Corporation, Panasonic Sanyo, Automotive Energy Supply Corporation (AESC), LG Chem., Samsung SDI Co., Ltd. in this region. Due to the increasing government initiatives towards reducing the greenhouse gas effect and a considerable shift towards the adoption of portable and efficient batteries in the region, the market is likely to show immense growth in the coming future. Additionally, Asia Pacific also has a well-established infrastructure, which allows a higher penetration of devices and ultimately provides better connectivity. Increasing need for innovations and advancements in the technology are other major factors responsible for the growth of the global lithium-ion battery market.

 

In the global lithium-ion battery market, Europe is anticipated to witness a relatively faster adoption at the significant CAGR during the forecast period as compared to other regions owing to the growing adoption of lithium ion batteries for automotive sector across different countries in the region.

 

The global lithium-ion battery market is projected to reach USD 62 billion at a CAGR of over 16% by the end of the forecast period 2017-2023.

 

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Lithium-Ion Battery Market Segmentation:

The global lithium-ion battery market is segmented on the basis of type, power capacity and vertical. The power capacity segment is classified as 0 to 3000mAh, 3000mAh to 10000mAh, 10000mAh to 60000mAh and more than 60000mAh. However, the 0 to 3000mAh sub segment is expected to hold the largest market share of the lithium-ion battery market. Lithium-Ion batteries have huge applications including portable CD players, DVD players, smartphones, digital cameras and many other consume electronics. Lithium ion batteries offer various benefits at very low cost and more efficiency and reliability. However, 10000mAh to 60000mAh power capacity cub segment is expected to grow at the highest rate during the forecast period. This is owing to the increasing number of industrial applications and military applications.

 

Lithium Ion Battery Market Players:

  • 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)

 

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Market Research Analysis:

Asia Pacific is estimated to account for the largest share of the market, whereas Europe market is projected to grow at the fastest rate during the forecast period. The Asia Pacific market is witnessing a rapid growth due to technological advancements and increasing demand for efficient and reliable solutions across different industry verticals in this region. Europe stands as the second biggest market of lithium-ion market followed by North American region.

 

List Of Figures

Figure 1  Global  Lithium-Ion Battery Market Segmentation
Figure 2  Forecast Methodology
Figure 3  Five Forces Analysis Of Global  Lithium-Ion Battery Market
Figure 4  Value Chain Of Global  Lithium-Ion Battery Market
Figure 5  Share Of Global Lithium-Ion Battery Market In 2017, By Country (In %)
Figure 6  Global  Lithium-Ion Battery Market, 2017-2023,
Figure 7  Sub Segments Of Type
Figure 10   Global  Lithium-Ion Battery Market Size By Type, 2017
Figure 10   Share Of Global  Lithium-Ion Battery Market By Type, 2017 To 2023
Figure 10   Global  Lithium-Ion Battery Market Size By Power Capacity, 2017
Figure 11   Share Of Global  Lithium-Ion Battery Market By Power Capacity, 2017 To 2023
Figure 12   Global  Lithium-Ion Battery Market Size By Vertical, 2017
Figure 13   Share Of Global  Lithium-Ion Battery Market By Vertical, 2017 To 2023 

 

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