Industry Background:
Lithium iron phosphate (LFP) batteries are a type of rechargeable battery. The demands for LFP is expected to witness a substantial growth rate owing to its better performance in stationary and portable applications.
According to AMA Research, the market for Lithium Ion Battery Cells is expected to register a CAGR of 15.2% during the forecast period to 2030. This growth is primarily driven by Rise in Demand for Plug-In Vehicles
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Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | K Units |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Electronic Equipment & Instruments sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as BYD Company (China), LG Chem (South Korea), Panasonic (Japan), Samsung SDI (South Korea), BAK Group (China), GS Yuasa (Japan), Hitachi (Japan), Johnson Controls (Ireland), Toshiba (Japan) and Lithium Werks (The Netherlands), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In January 2024, Indian Oil Corporation and Panasonic India have entered into a Memorandum of Understanding (MoU) to explore the potential establishment of a joint venture dedicated to advanced cell manufacturing for Lithium-ion batteries.
In February 2021, Barrel Energy, the U.S.-based li-ion battery producer, and Hyderabad-based Roshan Energy Technologies linked a memorandum of understanding to build and develop lithium-ion batteries in India and the North American region.Key players are adopting numerous strategies to gain market attention and to increase their market share, this strategy can be listed as increasing product portfolio, making partnerships to adopt certain technologies, and acquiring small players to finish the competition in the future. As well as investing money in the R&D sector to make technical upgrades to the product.
Influencing Trend:
Growth in E-Commerce Industry and Development of Battery-Operated Equipment for Mining Industry
Market Growth Drivers:
Rise in Demand for Plug-In Vehicles, Increase in Demand of Smart Devices and Other Industrial Goods and Requirement for Automation and Battery Operated Material Handling Equipment in Industries
Challenges:
Overheating of Lithium Ion Batteries and Upcoming Technologies Such as Chemical Energy Storage, Compressed Energy Storage and Pumped Hydro Technology
Restraints:
Safety Issues Related To Storage
Opportunities:
Increase in Adoption of Lithium Ion Battery in New Applications
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Lithium Ion Battery Cells Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Lithium Ion Battery Cells Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Lithium Ion Battery Cells players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Lithium Ion Battery Cells Study Sheds Light on
The Lithium Ion Battery Cells Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Lithium Ion Battery Cells industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Lithium Ion Battery Cells industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.