Advanced Lithium Ion Battery Market Scope
An advanced technology which used lithium ion in battery as a key component of its electrochemistry. During its use lithium ion move from anode to cathode through electrolyte, at cathode they reunite with their electrons and electrically neutralize. Lithium batteries can used different material as electrode. Most common combination is Lithium cobalt oxide and graphite. There are different type of advanced lithium-ion battery namely lithium cobalt oxide, lithium iron phosphate, lithium nickel cobalt aluminium oxide, lithium manganese oxide, lithium nickel manganese cobalt, lithium titanate-oxide. Rechargeable Li-ion batteries are currently used mostly in portable electronic devices, including laptop computers, tablets, smartphones, digital cameras, GPS systems, and digital cameras. Owing to Demand of Advanced Lithium Ion Battery in Electronic Device and Vehicles, advanced lithium-ion battery market is expected to grow at a significant rate during the forecast period
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | BYD Company limited (China), LG Chem Ltd (South Korea), A123 System LLC (United States), Panasonic Corporation (Japan), Samsung SDI (South Korea), Toshiba Corporation (Japan), Contemporarey Amperex Technology Co. Ltd (China), Hitachi (Japan), Johnson Control (United States) and Tianjin Lishen Battery Joint-Stock Co. Ltd (China) |
CAGR | % |
Advanced lithium ion battery Market is a fragmented market due to the presence of various players. The players are focusing on increasing their manufacturing capacity and are offering competitive prices to gain high market share and establish their position in the market. Further, companies are focusing on developing innovative products and solutions to improve quality, enhances and promotes batteries performance. The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launch, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge
BYD Company limited (China), LG Chem Ltd (South Korea), A123 System LLC (United States), Panasonic Corporation (Japan), Samsung SDI (South Korea), Toshiba Corporation (Japan), Contemporarey Amperex Technology Co. Ltd (China), Hitachi (Japan), Johnson Control (United States) and Tianjin Lishen Battery Joint-Stock Co. Ltd (China) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are Saft (France), SK Innovation (South Korea) and Automotive Energy Supply Corporation (Japan).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of global Advanced Lithium Ion Battery market by Type , by Application (Automotive, Consumer Electronics, Energy Storage System and Industrial) and Region with country level break-up.
On the basis of geography, the market of Advanced Lithium Ion Battery has been segmented into
. region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
In February 2022, LG Energy Solution acquired 100% share of NEC Energy Solution non-automotive lithium-ion battery and system integration business. This acquisition helped LG to delivery full integrated energy storage system with installation, maintenance, operations to increase production performance and expand its presence in advanced lithium ion battery Market
In February 2023, LG Chem and Piedmont Lithium signed equity investment and binding offtake agreement. With the help of this partnership LG Chem developed US lithium project that fulfil the requirement of IRA and improve its presence in advanced lithium-ion battery market
Influencing Trend:
Increasing Sale of Electrical Vehicle and Growing Awareness in Renewable Energy Projects
Market Growth Drivers:
High Demand of Advanced Lithium Ion Battery in Electronic Device and Vehicles and Increasing Use of Advanced Lithium-Ion Batteries in Power Grid and Energy Storage System
Challenges:
High Cost of Battery Electric Vehicle as Compared to Internal Combustion Vehicle
Restraints:
High Risk Compound Such As Acid And Heavy Metals Such As Mercury And Lead Found In Used Battery and Used Batteries Has To Store Away From Inflammable and Combustible Material
Opportunities:
The Global Adoption of Electric Vehicle Increases Need have Efficient Battery Solution Augmented Safety and an Extended Life Span and Increasing Awareness about Climate Change Due to Internal Combustion Engine Vehicle
Key Target Audience
Lithium-ion battery market manufacturers, The electronic industry, Venture Capitalists and Private Equity Firms, Automotive industry, New Entrants/Investors, Strategic Business Planners, Government Regulatory, Research Organizations and End-Use Industries