Asia-Pacific, Lithium Ion Battery Market - Industry Trends and Forecast to 2031
Asia-Pacific, Europe, South America, and Middle East and Africa lithium ion battery market is expected to reach USD 60.04 billion by 2031 from USD 26.30 billion in 2023 growing with a CAGR of 20.8% in the forecast period of 2024 to 2031.
Market SegmentationAsia-Pacific, Europe, South America, and Middle East and Africa lithium ion battery market, By Type (Lithium Nickel Manganese Cobalt Oxide (Li-NMC), Lithium Iron Phosphate (LFP), Lithium Cobalt Oxide, Lithium Nickel Cobalt Aluminium Oxide (NCA), Lithium Manganese Oxide, and Lithium Titanate), Component (Cathode, Anode, Electrolyte, and Separator), Product (Cells, Storage System (ESS), Module, and Pack), Charge (Rechargeable and Non-Rechargeable), End Use (Automotive, Consumer, Electronics, Power, Industrial, Construction, Telecom, Medical, Aerospace & Defense, and Marine) Country (China, Japan, South Korea, India, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines, Vietnam, Bangladesh, Myanmar, Rest of Asia Pacific, Germany, U.K., France, Italy, Russia, Spain, Turkey, Belgium, Hungary, Serbia, Rest of Europe, Brazil, Argentina, Chile, Bolivia, Rest of South America, Saudi Arabia, U.A.E, Israel, South Africa, Egypt, Nigeria, Morocco, Ethiopia, Kenya, Ghana, Namibia, and Rest of Middle East and Africa) - Industry Trends and Forecast to 2031
Overview of Asia-Pacific, Europe, South America, and Middle East and Africa lithium ion battery market Dynamics
Driver• Increasing demand for smartphones and consumer electronics
• Growing adoption of cordless power tools
Restraint• Safety issues related to storage, usage, and transportation of lithium ion batteries
• Availability of alternative solutions
Opportunities
• Increase in demand for electric vehicles
• Growing number of R&D initiatives and manufacturing facilities
Market PlayersSome of the major market player operating in the Asia-Pacific, Europe, South America, and Middle East and Africa lithium ion battery market are:• Contemporary Amperex Technology Co.
• Limited, LG Chem.
• SAMSUNG SDI CO.,LTD.
• BYD Motors Inc.
• Saft
• Panasonic Industry Co., Ltd.
• CALB
• VARTA AG.
• CBAK Energy Technology, Inc.
• TOSHIBA CORPORATION
• GlobTek, Inc.
• Wanxiang A123 Systems Corp.
• XALT Energy
• LITHIUMWERKS
• Leclanché SA
• Amperex Technology Limited.
• Shenzhen A&S Power Technology Co., Ltd.
• Tianjin Lishen Battery Co., Ltd.
• Shenzhen BAK Technology Co., Ltd