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 Lithium-Ion Battery Market: https://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: https://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.
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