Global Lithium Ion Energy Accumulator Market Size study & Forecast, by Application (Consumer Electronics, Transportation, Industrial) and Regional Analysis, 2023-2030

Global Lithium Ion Energy Accumulator Market Size study & Forecast, by Application (Consumer Electronics, Transportation, Industrial) and Regional Analysis, 2023-2030

Global Lithium Ion Energy Accumulator Market is valued approximately at USD XX billion in 2022 and is anticipated to grow with a healthy growth rate of more than 12.25% over the forecast period 2023-2030. A lithium-ion energy accumulator battery, often referred to as a lithium-ion battery, is a rechargeable energy storage device that utilizes lithium ions to store and release electrical energy. These batteries are widely used in various applications, including electric vehicles, consumer electronics, renewable energy storage systems, and grid stabilization. Lithium-ion batteries offer high energy density, long cycle life, and relatively low self-discharge rates, making them a popular choice for portable and stationary power needs. They play a vital role in facilitating the transition to clean energy and powering the devices and systems of our modern, interconnected world. The driving factors boosting the market growth are growing demand for electric vehicles (EV) and increasing consumer electronics market.

According to Statista, in 2022, electric vehicles accounted for approximately 14 percent of global passenger car sales, showing a year-over-year increase of about 5.3 percentage points. The sales of electric vehicles have been experiencing rapid growth, surpassing the one percent market share in 2017 and significantly accelerating since 2020. The COVID-19 pandemic played a role in driving this expansion as consumers, driven by heightened environmental awareness, sought more sustainable transportation options. This trend has contributed to the global expansion of the electric vehicle market. Moreover, rapid growth of electric vehicle (EV) market and growing demand for portable electronics and consumer devices in which lithium-ion batteries are used is expected to create lucrative opportunities to the market growth. However, the high cost of Lithium Ion batteries and limited availability of raw materials such as lithium, cobalt and nickel stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Lithium Ion Energy Accumulator Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the strong manufacturing capacity of lithium ion batteries, growing adoption of EVs, and strong research institutions and universities that actively engage in battery research and development. However, Middle East and Africa is expected to become the fastest growing region during the forecast period, owing to factors such as abundant renewable resources, increasing energy demand, and international collaborations and investments in the sector.

Major market player included in this report are:
A123 Systems LLC
Asahi Kasei Corp.
Samsung SDI Co.
Hitachi Ltd
LG Chem Ltd
Amperex Technology Limited
Panasonic Corporation
Toshiba Corporation
TDK Corporation
Sony Corporation

Recent Developments in the Market:
In October 2021, Stellantis N.V. and Samsung SDI announced their intention to establish a joint venture focused on the production of battery cells and modules in North America. Under a memorandum of understanding, the companies plan to commence operations by 2025, with an initial annual production capacity of 23 gigawatt hours. The joint venture aims to expand its capacity to up to 40 gigawatt hours in the future.

Global Lithium Ion Energy Accumulator Market Report Scope:
Historical Data – 2020 - 2021
Base Year for Estimation – 2022
Forecast period - 2023-2030
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered - Application, Region
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Application:
Consumer Electronics
Transportation
Industrial

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Companies Mentioned
A123 Systems LLC
Asahi Kasei Corp.
Samsung SDI Co.
Hitachi Ltd
LG Chem Ltd
Amperex Technology Limited
Panasonic Corporation
Toshiba Corporation
TDK Corporation
Sony Corporation

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