A Automotive Lithium Ion Battery Pack Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade

Automotive Lithium Ion Battery Pack Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

The automotive industry is increasingly shifting away from Nickel-Cadmium (NiCad) rechargeable batteries in favor of more environmentally friendly and cost-effective options, with lithium-ion batteries emerging as the preferred choice for manufacturers. The benefits of lithium-ion batteries are set to outweigh the shortcomings of nickel-cadmium batteries, making them the go-to option for automotive applications.

As older battery technologies like nickel-cadmium exhibit self-discharging characteristics, automotive manufacturers are embracing lithium-ion batteries to enhance vehicle economics and reduce battery costs. Furthermore, many automotive companies are repurposing batteries used in electric vehicles, which is driving the sales of lithium-ion battery packs.

According to Fairfield Market Research, the global automotive lithium-ion battery pack market is projected to exceed US$ 32,300 million by the end of 2026.

Government Initiatives to Drive Market Growth: Government initiatives aimed at promoting sustainable energy adoption are expected to boost the global market. Various countries' authorities are taking steps to encourage the use of plug-in hybrid electric vehicles and hybrid vehicles to reduce pollution levels. As these vehicles rely on rechargeable batteries, government initiatives play a crucial role in promoting hybrid vehicle adoption.

Additionally, the growing use of hybrid and plug-in hybrid vehicles for public transportation is expected to have a positive impact on the global automotive lithium-ion battery pack market.

Smartphone Production Boosts Demand: Smartphone manufacturers are increasingly turning to lithium-ion battery packs to address battery life challenges. Lithium-ion batteries are considered more reliable than nickel-cadmium batteries, although they can experience decay and reduced performance in hot conditions. This trend in smartphone production is expected to drive demand for lithium-ion batteries.

Strategic Collaborations Open Lucrative Opportunities: Automotive manufacturers are forming collaborations with electronics manufacturers to gain a competitive edge globally. For instance, Toyota has partnered with Panasonic to develop innovative and more effective batteries, including solid-state and prismatic cell batteries for Toyota vehicles. These collaborations are expected to fuel the growth of the global automotive lithium-ion battery pack market.

Passenger Cars and Vehicle Types:
• The less than 20 kWh capacity segment, based on battery capacity, is expected to witness significant revenue growth, surpassing US$ 5,100 million by the end of 2026.
• Hybrid electric vehicles (HEV) are expected to generate substantial revenues, reaching over US$ 2,000 million by the end of 2017. Full battery electric vehicles (BEV) are projected to register a significant CAGR during the forecast period.
• Among vehicle types, the passenger car segment is anticipated to witness robust revenue growth, accounting for over US$ 8,100 million by the end of 2026. The ""others"" vehicle type segment is expected to register a strong CAGR throughout the forecast period.

Competition Landscape:

Leading players in the global automotive lithium-ion battery pack market include Automotive Energy Supply Corporation, Panasonic Corporation, BYD Company Limited, GS Yuasa Corporation, LG Chem Ltd., Samsung SDI Co., Ltd., Tesla Motors, Inc., Hitachi Chemical Company, Ltd., Narada Power Source Co. Ltd., Johnson Controls International Plc., Tianneng Power International Co., Ltd., Crown Battery Corporation, Furukawa Electric Co., Ltd., EnerSys, Wanxiang Group Corporation, Leoch International Technology Ltd., Hoppecke Batterien GmbH & Co. KG., Coslight Technology International Group Co., Ltd., East Penn Manufacturing Co., and Toshiba Corporation.

Market Segmentation:

Battery Capacity
• Less than 20 KWH
• 21-40
• more than 41

Vehicle Technology
• Hybrid Electric Vehicle (HEV)
• Plug-in-Hybrid Vehicles (PHEV)
• Full Battery Electric Vehicle (BEV)

Vehicle Type
• Passenger Car
• LCV
• HCV
• Others

Region
• North America
• Latin America
• Europe
• Japan
• APEJ
• MEA

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