Industry Background:
Lithium polymer battery refers to the rechargeable battery. It comes in a pouch format and uses polymer electrolyte instead of a regularly used liquid electrolyte. The lithium-polymer battery market is expected to mark significant growth over the forecasted period owing to the increasing demand for consumer electronics, energy grid systems, and others. In addition, growing applications in the industrial hand-held devices such as bar code scanners, GPS chips, display refreshes, audio amplifiers, RFID, and others further propelling market growth. Moreover, increasing need for energy storage technologies may trigger market demand and help in industry expansion
According to AMA Research, the market for Lithium Polymer Battery is expected to register a CAGR of 18.0% during the forecast period to 2030. This growth is primarily driven by Rise in Demand for Plug-In Vehicles
.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | N |
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 Electrical Components & Equipment 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 Manufacturers, 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), Lithium Werks (Netherland), CALB (China), Saft Groupe (France) and VARTA Storage (Germany), 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 2022, Nexeon Limited, a provider of cutting-edge silicon anode materials for future-generation lithium-ion batteries, granted a license for its NSP-1 technology to SKC Co. Ltd, a leading player in advanced materials. This agreement guarantees swift and dependable access to these vital materials for customers worldwide.
In February 2022, Panasonic Corporation announced that its Energy Company will establish a production facility at its Wakayama Factory in western Japan to manufacture new, large 4680 (46 millimeters wide and 80 millimeters tall) cylindrical lithium-ion batteries for electric vehicles (EVs).The rising number of players expected to enter the global market is predicted to enhance the competition level as well as encourage the growth of the overall market shortly. Players are anticipated to focus on the development of new compounds, which is likely to encourage the growth of the global market throughout the forecast period.
Regulatory Insights:
Lithium batteries are regulated as a hazardous material under the U.S. Department of Transportation's (DOT's) Hazardous Materials Regulations (HMR; 49 C.F.R., Parts 171-180). The HMR apply to any material DOT determines is capable of posing an unreasonable risk to health, safety, and property when transported in commerce.1 Lithium batteries must conform to all applicable HMR requirements when offered for transportation or transported by air, highway, rail, or water.
Influencing Trend:
Increasing Demand of Lithium Batteries in Consumer Electronics Products and Collaboration and Tie Up of Leading Players
Market Growth Drivers:
Rise in Demand for Plug-In Vehicles and Increasing Demand for Industrial Applications
Challenges:
Lack of Charging Stations for Lithium Polymer Battery and Less Awareness about Lithium Polymer Battery
Restraints:
High Manufacturing Cost of Lithium Polymer Battery and Adverse Impact Due To Safety Concerns Regarding Overheating
Opportunities:
Increasing Demand for Low Power Lithium Polymer Batteries and Rising Demand from the Developing Economies
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 Manufacturers 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 Polymer Battery 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 Polymer Battery 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 Polymer Battery 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 Polymer Battery Study Sheds Light on
The Lithium Polymer Battery Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Lithium Polymer Battery industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Lithium Polymer Battery 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 Manufacturers 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.