Increasing Adoption of Consumer Electronics Worldwide is Accentuating the Demand for Lithium Ion Battery at a CAGR of 14.9%

Latest market study on Lithium Ion Battery Market to 2025 - Global Analysis and Forecasts Type (Lithium Cobalt Oxide, Lithium Iron Phosphate, Lithium Nickel Manganese Cobalt Oxide, Lithium Manganese Oxide, Lithium Titanate Oxide), by Power Capacity (0 - 3000mAh, 3000 - 10000mAh, 10000mAh - 60000mAh, and >60000mAh), by Application (Consumer Electronics, Automotive, Industrial, Energy Storage Systems, Aerospace & defense, Medical Devices, and Others) - Global Analysis and Forecast”, the Lithium Ion Battery market is estimated to reach US$ 71.03 Bn by 2025 from US$ 23.48 Bn in 2017. The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.

The Lithium Ion Battery that is used for energy storage and power provisioning to various industry verticals is currently experiencing very high adoptions especially by the automotive and consumer electronics industry verticals. Advantages such as higher energy efficiency, and extended battery life provided by these batteries are leading to wider adoptions. In the current scenario almost all the computer electronics, smartphones, tablets, and other consumer electronic devices are powered by a lithium ion battery. The development of advanced energy storage technologies is a critical factor in the success of the decarbonisation of modern economies. Over the last few years, they have played a major role in the growth and evolution of the energy, automotive and electronic appliances sectors. While multiple technologies exist encompassing pump-hydro, compressed air, flywheels and batteries; Li-ion technologies have provided the energy and power requirements to meet the technical demands of these three sectors.

Currently, automotive manufacturers are more inclined towards transforming automotive mobility into a sustainable mode of transport in order to reduce its impact on the environment. Lithium-ion battery technology is compared to parameters such as safety, lifespan, performance, specific energy, specific power, and cost. Safety is one of the most important criteria for electric-car batteries. With the rapid growth in the automotive industry, car companies are also becoming careful while selecting new battery technologies in order to avoid battery-related incidents. The development of electric car battery technology includes power capacity production, cell production, module production, and assembly of modules into the battery pack. Most commonly used technologies for automotive applications include lithium-nickel-cobalt-aluminum, lithium-iron phosphate, lithium Titanate, and lithium-nickel-manganese-cobalt.

The global lithium ion battery market has been segmented by types, power capacity, application and geography. The different types of lithium ion batteries available in the market are Lithium Cobalt Oxide, Lithium Iron Phosphate, Lithium Nickel Manganese Cobalt Oxide, Lithium Manganese Oxide, and Lithium Titanate Oxide. Based on power capacity the market bifurcation into 0 - 3000mAh, 3000 - 10000mAh, 10000mAh - 60000mAh, and >60000mAh. These lithium ion batteries have various applications in industries which include Consumer Electronics, Automotive, Industrial, Energy Storage Systems, Aerospace & defense, Medical Devices, and Others. The lithium ion battery market is categorized as North America, Europe, Asia Pacific, Middle East and Africa, and South America.

The global lithium-ion battery market is segmented on the basis of types, power capacity, and application. By type, the lithium-cobalt oxide is the most prominent battery type pertaining to the high energy capacity and a wide range of applications in consumer electronic products such as mobile phones, laptops, tablets, and digital cameras. The constant research and development in the field of lithium cobalt oxide battery in order to improve cathode and electrolyte solutions is further boosting the market. Consumer electronics under the application segment led the market due to the transition of replacing the lead-acid batteries with lithium-ion batteries in order to save space, to adoption lightweight technology, and to increase the lifetime of the batteries. Moreover, the surge in production and adoption of electric vehicles is flourishing the market growth. Geographically, the market for lithium ion battery is dominated by Asia-Pacific region, owing to the growth in production of electric vehicles and the substantial growth in consumer electronics manufacturing industry in this region.

The market for lithium ion battery is concentrated with substantial numbers of established players as well as emerging players across the globe. The major companies operating in the market include Automotive Energy Supply Corporation, Samsung SDI Co. Ltd, Tesla Inc., A123 Systems LLC, GS Yuasa International Inc., Hitachi Chemicals Co. Ltd., LG Chem Ltd., Panasonic Corporation, and Johnson Controls International Plc. among others.

The report segments the global lithium ion battery market as follows:

Global Lithium Ion Battery Market - By Type

Lithium Cobalt Oxide
Lithium Iron Phosphate
Lithium Titanate Oxide
Lithium Manganese Oxide
Lithium Nickel Manganese Cobalt Oxide

Global Lithium Ion Battery Market - By Power Capacity

0 to 3000 mAh
3000 to 10000 mAh
10000 to 60000 mAh
>60000 mAh

Global Lithium Ion Battery Market - By Application

Consumer Electronics
Automotive
Industrial Energy Storage Systems
Aerospace and Defense
Medical Devices
Others

Global Lithium Ion Battery Market - By Geography

North America
U.S.
Canada
Mexico

Europe

France
Germany
Italy
UK
Spain
Rest of Europe

Asia Pacific (APAC)

South Korea
China
India
Japan
Rest of APAC

Middle East and Africa (MEA)

South Africa
Saudi Arabia
UAE
Rest of MEA

South America (SAM)

Brazil
Rest of SAM

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