The global lithium-ion battery market is
expected to reach USD 93.1 billion by 2025, growing at a CAGR of 17.0%,
according to a new report by Grand View Research, Inc. Increased usage of
lithium-ion batteries in electric vehicles, portable consumer electronics and
grid storage systems owing to its high energy density and high safety level is
expected to drive market demand.
Lithium-ion batteries are used in
applications that require lightweight and high-energy density solutions. These
batteries provide the highest energy density per weight and are mostly used in
cellular phones, notebook computers, and hybrid automobiles.
Technological advancements to
reduce the weight of batteries, cost and increase their power output, is
expected to augment industry expansion. In addition, competent distribution
channels are likely to be an important way to gain a competitive advantage.
Energy storage system is expected
to witness the fastest growth over the forecast period at a CAGR of 21% from
2017 to 2025 owing to the developments in wind and solar PV in countries
including Germany, China and U.S.
Asia Pacific was the dominant
market and accounted for 48.3% of the global share in 2016. The region is
expected to show substantial rise on account of implementation of government
policies to promote electric vehicles in India & China.
Moreover, presence of key energy
generation companies in China including China Guangdong Nuclear Power Group,
China National Nuclear Corporation, Shenergy Group, and Shenhua Group is
expected to propel industry growth.
Browse full research report on Global
Lithium-Ion Battery Market: http://www.grandviewresearch.com/industry-analysis/lithium-ion-battery-market
Further key findings from
the report suggest:
- Lithium cobalt oxide (LCO) was the dominant product segment and was valued at USD 7.15 billion in 2016 on account of its high usage in mobile phones, tablets, laptops, cameras as it offers high energy density and high safety level. However, its relatively short life span, low thermal stability and limited load capabilities is likely to act as restrain to demand.
- Growing adoption of solar power systems and e-bikes in UK, Germany, and Netherlands will stimulate industry growth. Growing lithium-ion battery demand in Germany, Spain, Italy, France and the UK is expected to have a positive impact over the forecast period.
- Consumer electronics was the largest application segment and accounted for 52.3% of the overall share in 2016. The increasing demand for portable devices including mobiles, and tablets in China and India is expected to drive demand.
- North America was the second largest market and accounted for 25.9% of the overall revenue in 2016 and is anticipated to show substantial growth considering increasing sales of electric vehicles and smart phones.
- The industry is highly competitive with the presence of major players including Panasonic Corporation, Hitachi Chemical Co., Ltd., GS Yuasa International Ltd., Samsung SDI Co., Ltd., LG Chem, and BYD.
- In March 2016, Daimler AG invested USD 586.7 million to install second lithium-ion batteries facility in Germany for electric vehicles and hybrids under the Mercedes-Benz brand
- In January 2016, Nissan invested USD 31.0 million to manufacture future-generation electric vehicle batteries at its advanced lithium-ion battery plant in Sunderland
Browse more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/power-generation-and-storage
Grand View Research has segmented
the global lithium-ion battery market on the basis of product, application, and
region:
Product Outlook (Revenue, USD Million, 2014 - 2025)
- Lithium Cobalt Oxide (LCO)
- Lithium Iron Phosphate (LFP)
- Lithium Nickel Cobalt Aluminum Oxide (NCA)
- Lithium Manganese Oxide (LMO)
- Lithium Titanate (LTO)
- Lithium Nickel Manganese Cobalt
Application Outlook (Revenue, USD Million, 2014 - 2025)
- Automotive
- Consumer Electronics
- Industrial
- Energy Storage Systems
Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- U.S.
- Europe
- Germany
- UK
- Asia Pacific
- China
- India
- Central & South America
- Brazil
- Middle East & Africa
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com
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