Industry Background:
Lithium batteries are mostly rechargeable and portable batteries with high energy density and light weight in nature. Lithium batteries market is expected to mark significant growth over forecasted period owing to increasing used on smart phones tablets/PCs, digital cameras and technological advancement. Lithium batteries act as key components in smart grids and renewable energy that used for energy storage systems (ESS). There has been significant rise in production of lithium battery from 30 GWh per year today to 200 GWh with within the next few years, the future for lithium battery looks promising. This result in rising popularity of fundamental techniques and escalating need for energy storage technologies may trigger demand and help in industry expansion.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | 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 (Netherland) |
According to AMA, the market for Lithium Battery is expected to register a CAGR of 17.3% during the forecast period to 2028. This growth is primarily driven by Increase in Number of Lithium Battery in Energy Storing Devices, for Example in Industrial and Household Units. and Rapid Utilization of Lithium Ion Batteries in Transportation as its a Substitute of Fuel..
Globally, a noticeable market trend is evident Rising population and high financial investments
The Semiconductors sector in the North America 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 (Netherland), 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 November 2019, SolarEdge Technologies, Inc. acquired Kokam Co., Ltd. This acquisition is beneficial in providing batteries and energy storage solutions that enabled the seamless integration with latest solutions and smarter solar installations.
In Feb 2019, Siemens launched ‘Junelight’ lithium home energy storage systems which are beneficial in providing battery-based energy storage systems for private households. It also offers Real-time monitoring through a mobile App with a better speed capacity.
Regulatory Insights:
“According to IATA Dangerous Goods Regulations (DGR), its provide a smart luggage regulation, where the baggage are exhibits with lithium battery and used to address the carriage of lithium battery-powered devices such as cargo tracking devices and temperature data loggers.”
Influencing Trend:
Rising population and high financial investments and Collaboration and Tie Up Of Leading Players
Market Growth Drivers:
Increase in Number of Lithium Battery in Energy Storing Devices, for Example in Industrial and Household Units. and Rapid Utilization of Lithium Ion Batteries in Transportation as its a Substitute of Fuel.
Challenges:
Lack Of Charging Stations Of Lithium Battery Are Anticipated The Challenge The Market. and Adverse Impact Due to Safety Concerns regarding Overheating.
Restraints:
Less Awareness about Lithium Battery Hampers the Global Market. and High Cost Associated With in Lithium Battery Market.
Opportunities:
Technological Advancements in the Field of Lithium Battery such as Power Technology Leads to Grow the Market. and Upsurge Demand of Lithium Batteries in Consumer Electronics Products.
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 mostly 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 growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
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 in Lithium Battery Market
- Analysis about New Entrants in Lithium Battery Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Lithium Battery Study Sheds Light on
The Lithium Battery Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Lithium Battery industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Lithium 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 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.