The global lithium-ion battery market size reached US$ 45.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 93.3 Billion by 2028, exhibiting a growth rate (CAGR) of 13.2% during 2023-2028.The rising utilization of electronic devices, increasing demand for smart watches and fitness trackers and the growing adoption of electric vehicles (EVs) to reduce fuel usage represent some of the key factors driving the market.
Lithium-ion (li-ion) battery refers to an advanced battery system where lithium ions move from the negative electrode to the positive electrode during discharge and back while charging. It comprises various components, such as a cathode, anode, electrolyte, and separator. It is a rechargeable battery that is manufactured from lithium, graphite, cobalt, and manganese. It can handle an extensive number of charge and discharge cycles while possessing slow loss of charge, no memory effect, and a low self-discharge rate. It also offers eco-friendly applications and does not emit any harmful gases into the environment. Li-ion battery is incorporated into various consumer electronics, such as cell phones, tablets, laptops, electric toothbrushes, hoverboards, Bluetooth headsets, headphones, digital cameras, game controllers, smoke detectors, and smartwatches. It is also used in head torches to increase the light output and runtime significantly without adding bulk and weight to the device. Furthermore, as a li-ion battery can release and store large amounts of energy in a compact-sized body, it is extensively utilized in the aviation, military and defense, electronic, and automotive industries around the world.
Lithium-ion Battery Market Trends:
At present, the increasing demand for li-ion batteries due to their enhanced energy density, lightweight design, and environment-friendly properties represents one of the primary factors influencing the market positively. Besides this, there is a rise in the utilization of various electronic devices, such as smartphones, tablets, and laptops, to access the internet and connect with other individuals effortlessly. This, along with the growing sales of smartwatches and wearable fitness trackers to track steps, heart rate, calories, and regular sleep schedule, is currently offering a favorable market outlook. In addition, governing agencies of various countries are encouraging the usage of electric vehicles (EVs) to reduce the utilization of fossil fuels and automobile exhaust in the environment. These agencies are also installing charging stations in various public places and constructing cycle lanes on roads and highways for easy navigation. Apart from this, the rising integration of li-ion batteries in marine equipment and vessels by operators to meet emission restrictions and reduce maintenance costs is propelling the growth of the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global lithium-ion battery market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product type, power capacity and application.
Product Type Insights:
- Lithium Cobalt Oxide
- Lithium Iron Phosphate
- Lithium Nickel Manganese Cobalt
- Lithium Manganese Oxide
- Others (Li-ion Nickel Cobalt Aluminium Oxide and Li-ion Titanate Oxide)
The report has provided a detailed breakup and analysis of the lithium-ion battery market based on the product type. This includes lithium cobalt oxide, lithium iron phosphate, lithium nickel manganese cobalt, lithium manganese oxide, and others (lithium nickel cobalt aluminum oxide and lithium titanate oxide). According to the report, lithium cobalt oxide represented the largest segment.
Power Capacity Insights:
- 0 to 3000mAh
- 3000mAh to 10000mAh
- 10000mAh to 60000mAh
- More than 60000mAh
A detailed breakup and analysis of the lithium-ion battery market based on the power capacity has also been provided in the report. This includes 0 to 3000mAh, 3000mAh to 10000mAh, 10000mAh to 60000mAh, and more than 60000mAh. According to the report, 3000mAh to 10000mAh accounted for the largest market share.
A detailed breakup and analysis of the lithium-ion battery market based on the application has also been provided in the report. This includes consumer electronics, electric vehicles, energy storage, and others. According to the report, consumer electronics accounted for the largest market share.
- Asia Pacific
- North America
- Middle East and Africa
- Latin America
The report has also provided a comprehensive analysis of all the major regional markets, which include Asia Pacific, North America, Europe, the Middle East and Africa, and Latin America. According to the report, Asia Pacific was the largest market for lithium-ion battery. Some of the factors driving the Asia Pacific lithium-ion battery market included the rapid adoption of electric vehicles (EVs), increasing sales of consumer electronics, rising demand for renewable power sources, etc.
The report has also provided a comprehensive analysis of the competitive landscape in the global lithium-ion battery market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include A123 Systems LLC, Envision AESC Limited, LG Chem Ltd., Panasonic Corporation, SAMSUNG SDI Co.,Ltd., Toshiba Corporation, Amperex Technology Limited, BAK Group, Blue Energy Limited, BYD Company Ltd., CBAK Energy Technology, Inc., Tianjin Lishen Battery Joint-Stock CO., LTD. Lithion Battery Inc., SK innovation Co., Ltd, Hitachi, Ltd, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
|Base Year of the Analysis
||Product Type, Power Capacity, Application, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||A123 Systems LLC, AESC SDI CO.,LTD., LG Chem Ltd., Panasonic Corporation, SAMSUNG SDI CO.,LTD., Toshiba Corporation, Amperex Technology Limited, BAK Group, Blue Energy Limited, BYD Company Ltd., CBAK Energy Technology, Inc., Tianjin Lishen Battery Joint-Stock CO.,LTD., Valence Technology, Inc., SK innovation Co., Ltd, and Hitachi, Ltd.
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Key Benefits for Stakeholders:
- IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the lithium-ion battery market from 2017-2028.
- The research study provides the latest information on the market drivers, challenges, and opportunities in the global lithium-ion battery market.
- The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the lithium-ion battery industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.