Lithium Ion Battery Market Scope
A lithium-ion battery is defined as the type of rechargeable battery which widely is used for portable electronics and electric vehicle. Some of the advantages of lithium ion battery are higher voltage, long shelf life, low maintenance, no requirement for priming, self-discharge, among others. Growing demand for smart devices and other industrial goods, growing need for automation, increasing demand for smart devices and growing disposal income among consumer is projected to drive the global lithium-ion battery market over the forecast period.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Panasonic Corporation, Automotive Energy Supply Corporation, LG Chem Ltd, Samsung SDI, A123 Systems, Amperex Technology Limited, Coslight, GS Yuasa International Ltd, Hitachi Vehicle Energy, Ltd, BYD Company Limited, Johnson Controls, Inc, Blue Energy, Blue Solutions SA, China Aviation Lithium Battery, Deutsche Accumotive Gmbh & Co. Kg, Electrovaya Inc, EnerDel, SK Innovation Co., Ltd, Harbin Coslight Power Co., Ltd, Hefei Guoxuan High-Tech Power Energy, Johnson Matthey Battery Systems, Li-Tec Battery Gmbh, Lithium Energy Japan, Lithium Energy and Power GmbH & Co. Kg, Shenzhen Bak Battery, Tianjin Lishen Battery, Toshiba Corporation, Wanxiang Electric Vehicle and Zhejiang Tianneng Energy |
CAGR | 16.9% |
The market is highly fragmented with the presence of various players in the market. Some of the key strategies followed by the players operating in the global lithium foil market were innovation, product development, acquisition, and expansion.
Panasonic Corporation, Automotive Energy Supply Corporation, LG Chem Ltd, Samsung SDI, A123 Systems, Amperex Technology Limited, Coslight, GS Yuasa International Ltd, Hitachi Vehicle Energy, Ltd, BYD Company Limited, Johnson Controls, Inc, Blue Energy, Blue Solutions SA, China Aviation Lithium Battery, Deutsche Accumotive Gmbh & Co. Kg, Electrovaya Inc, EnerDel, SK Innovation Co., Ltd, Harbin Coslight Power Co., Ltd, Hefei Guoxuan High-Tech Power Energy, Johnson Matthey Battery Systems, Li-Tec Battery Gmbh, Lithium Energy Japan, Lithium Energy and Power GmbH & Co. Kg, Shenzhen Bak Battery, Tianjin Lishen Battery, Toshiba Corporation, Wanxiang Electric Vehicle and Zhejiang Tianneng Energy are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are CALB (China), Saft Groupe (France), VARTA Storage (Germany), Farasis Energy (California) and Sila Nanotechnologies (California).
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 Lithium Ion Battery market by Type , by Application (Electric Vehicles, Consumer Electronics, Energy Storage, Medical and Others) and Region with country level break-up.
On the basis of geography, the market of Lithium Ion Battery has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
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.
According to The International Air Transport Association, “the air transport industry work on to ensure the safe transport of lithium ion batteries and the application of the current international regulations”. Hence, it may act hamper for market growth.
Influencing Trend:
Rising Demand for Smart Devices as well as Other Industrial Goods
Market Growth Drivers:
Upsurge in Demand for Plug-In Vehicles across the World and Growing Demand for Smart Devices and Other Industrial Goods
Challenges:
High Cost as Compared to NiCd Battery and Overheating of Lithium Ion Batteries
Restraints:
Safety Issues Related to Storage as well as Transportation of Spent Batteries
Opportunities:
Developing Application within the Energy Sector across the World and Growing Demand from Emerging Market such as China, India, Brazil, among others
Key Target Audience
Manufacturers of Lithium Ion Battery, Suppliers of Lithium Ion Battery, Wholesalers, distributors and retailers of Lithium Ion Battery, Research and Development (R&D) Companies and Research Organization