Lithium Battery Market Analysis, Development, and Forecast by 2031

MARKET INTRODUCTION

A Li-ion battery, also called a LIB, is a rechargeable battery used in laptops, cell phones, and hybrid and electric vehicles. The use of Li-ion batteries in various applications is increasing due to their light weight and high energy density for extended battery life and charging capacity. The growing demand for lithium-ion batteries in smartphones is expected to boost the market due to their long durability and improved performance. In addition, demand for electric vehicles is expected to drive market growth due to increasing consumer awareness to reduce global CO2 emissions.

MARKET DYNAMICS

The growth of the lithium-ion battery market is driven by increasing demand for smartphones and other electronic devices, and the rise in electric vehicles are some of the key factors contributing to the growth of the global lithium-ion battery market. The implementation of stringent government regulations to control the increasing environmental pollution is expected to further boost the market growth. However, the high price of lithium-ion battery is expected to restrain the growth of the market. On the contrary, higher energy efficiency requirements in technologically updated consumer devices are expected to offer growing opportunities for the lithium-ion battery market to key players.

MARKET SCOPE

The “Global Lithium Battery Market Analysis to 2031” is a specialized and in-depth study of the lithium battery market with a special focus on the global market trend analysis. The report aims to provide an overview of the lithium battery market with detailed market segmentation by production, application, and geography. The global lithium battery market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading lithium battery market players and offers key trends and opportunities in the lithium battery market.   

MARKET SEGMENTATION

The global lithium battery market is segmented based on product and application. Based on product, lithium battery market is segmented into LITHIUM COBALT OXIDE (LCO), LITHIUM IRON PHOSPHATE (LFP), LITHIUM NICKEL COBALT ALUMINUM OXIDE (NCA), LITHIUM MANGANESE OXIDE (LMO), LITHIUM TITANATE (LTO) and LITHIUM NICKEL MANGANESE COBALT (LMC). Based on application, lithium battery market is segmented into automobile, consumer electronics, industrial, energy storage systems, medical devices, and others.

IMPACT OF COVID-19 ON LITHIUM BATTERY MARKET

The COVID-19 pandemic has affected the growth of this market in 2021. The COVID-19 outbreak has limited battery supply. The main battery component is found mainly in the Asia-Pacific region, but the pandemic has highlighted the region's dependence on raw materials. Lithium and cobalt perform the main functions in battery cathodes and electrolytes. China dominates the production of components and controls about 80% of the global supply chain for these materials. Many countries around the world have imposed travel restrictions that have affected the flow of goods and many power plants around the world have been shut down, affecting the market.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global Lithium Battery Market based on various segments. It also provides market size and forecast estimates from year 2017 to 2031 with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The Lithium Battery Market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.

The report analyzes factors affecting Lithium Battery Market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely, North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the lithium battery market in these regions.

MARKET PLAYERS

The reports cover key developments in the lithium battery market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from lithium battery market are anticipated to lucrative growth opportunities in the future with the rising demand for lithium battery market. Below mentioned is the list of few companies engaged in the lithium battery market.

The report also includes the profiles of key lithium battery market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.

• BYD Company Ltd.
• Duracell Inc.
• Hitachi, Ltd.
• Johnson Controls
• LG Chem
• Panasonic Corporation
• Renault Group
• Samsung SDI Co., Ltd.
• Tesla
• TOSHIBA CORPORATION

The Insight Partner’s dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Lithium Battery Report Scope