Global Lithium Titanate Battery Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Lithium Titanate Battery Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

The lithium-titanate battery (LTO) is a type of rechargeable battery which has the advantage of being faster to charge than other lithium-ion batteries, but the disadvantage of having a much lower energy density.

Market Overview:

The latest research study on the global Lithium Titanate Battery market finds that the global Lithium Titanate Battery market reached a value of USD 1004.27 million in 2022. It’s expected that the market will achieve USD 1352.3 million by 2028, exhibiting a CAGR of 5.08% during the forecast period.

Since the outbreak of the COVID-19 virus in December 2019, the disease has spread to nearly 100 countries around the world, and the World Health Organization has declared it an emergency public health event. The COVID-19 epidemic is infected with a large number of people, and its spread and scope far exceed SARS. At present, the number of confirmed cases in Worldwide has exceeded 10 million. Different industries are affected differently by the epidemic situation. The impact on Lithium Titanate battery is mainly reflected in the supply of raw materials and Downstream market demand. The main raw materials of Lithium Titanate battery are Lithium Titanate (Lto) materials. Overall, affected by the COVID-19 epidemic, logistics will be suspended and the supply of raw materials for Lithium Titanate battery will be tight. Due to the global threat of COVID-19, the resumption of work in the world's plants will directly affect the customer's production plan for goods and shipments. The continuous outbreak of the international epidemic situation, if the personnel control of each country is extended, it will affect the smooth supply of equipment and materials.

For the downstream industry, during the COVID-19 epidemic, in order to firmly prevent the spread of epidemics, governments have promulgated measures to extend vacations, delay business recovery, flow control and traffic control measures, and postpone recovery activities. COVID-19 has a huge impact on the operation of the industry, of which the impact on SMEs is more obvious. The company's inability to conduct normal operations and sales has exacerbated the shortage of funds for SMEs and reduced the company's solvency. Some small and medium-sized enterprises are in trouble or even bankrupt. The bankruptcy of small and medium-sized enterprises in the downstream application market due to the broken capital chain has affected the demand for Lithium Titanate battery to a certain extent. However, considering that many countries such as China have increased investment in 5G construction this year, the number of base stations required for 5G far exceeds that of 4G base stations. And the lithium battery is currently the only battery that can best meet the battery requirements of 5G base stations. Among them, for example, lithium titanate battery has the characteristics of small size, lightweight, high energy density, low self-discharge rate, rapid charge and discharge, super long cycle life, wide working environment temperature range, safe and stable green environmental protection, etc. It is especially suitable for applications in areas with harsh construction conditions, high altitude, extreme cold, difficult access to mains electricity, and extremely high environmental protection requirements, such as Mount Everest in Tibet. Therefore, it is expected that the Lithium Titanate battery industry will suffer some negative effects this year (mainly in the industrial chain), but the Lithium Titanate battery industry will still grow this year.

Application of lithium titanate battery in new energy bus

Too long charging time has always been a difficult obstacle in the development of electric vehicles. Generally, slow-charging pure electric buses are used, and the charging time is at least 4 hours. The charging time of many pure electric passenger cars is as long as 8 hours. Fast charging of electric vehicles is the future trend, and consumers do not want to waste too much time waiting for charging. Lithium titanate battery technology is very advanced in the field of energy storage. It has the advantages of fast charging, long life, and low temperature resistance. It is especially suitable for fixed mileage or fixed line buses, terminal trailers and other vehicles. This factor has promoted the development of the lithium titanate battery market.

The development of energy storage technology

The development of energy storage technology is one of the key core technologies to promote new energy generation and improve the security and stability of the power grid. Lithium titanate oxide is bridging the gap between battery energy storage and grid power. Among various types of electrochemical energy storage technologies, lithium titanate batteries have the characteristics of long cycle life and good safety performance, which fit well in the application scenarios of grid energy storage. This factor has also promoted the development of the lithium titanate battery market.

Bottlenecks in the production of lithium titanate battery packs

Lithium titanate battery packs are different from conventional lithium-ion batteries. The lithium titanate batteries produced by many companies will often see a small amount of gas in the soft-packed single cells after being put into use for a period of time. These gases are different from those produced when fresh batteries are formed. The former can be removed through the battery production process. But the latter is produced during battery use, or it is difficult to avoid under current process conditions. This factor may hinder the development of the lithium titanate battery market.

Region Overview:

From 2023-2028, China is estimated to witness robust growth prospects.

Company Overview:

YINLONG is one of the major players operating in the Lithium Titanate Battery market, holding a share of 33.56% in 2023.

YINLONG

Yinlong Energy Co.,Ltd produces and sells batteries. The Company develops and sells lithium ion batteries, charging equipment, and other products. Yinlong Energy also manufactures and sells electric vehicles.

Toshiba

Toshiba Corporation manufactures and markets electrical and electronic products. The Company's products include digital products such as PCs and televisions, NAND flash memories, and system LSIs (large-scale integrated), as well as social infrastructures such as power generators, medical equipment, and home appliances.

Segmentation Overview:

Among different product types, 1000-5000mAh segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Speed Charging segment occupied the biggest share from 2018 to 2022.

Speed Charging

The Lithium Titanate Battery (LTO) is characterized by fast charge, extended battery life, extraordinary safety and wider operating temperature, compared to other lithium batteries. Because lithium titanate batteries charge fast and have high safety, their position is mainly in the field of new energy buses.

Energy Storage

With an increasing importance of renewable energy options, the possibilities of Lithium Titanate Battery batteries allow for a synergy between solar and wind power, battery storage and the grid. Energy storage based on Lithium titanate has the potential to contribute greatly to power system stabilization, with vast potential in creating a renewable energy source that is more sustainable than any other previous alternatives.

Key Companies in the global Lithium Titanate Battery market covered in Chapter 3:

YINLONG
Microvast
Toshiba
HuaHui New Energy
AnHui TianKang
Leclanché
Siqi Energies
Altairnano

In Chapter 4 and Chapter 14.2, on the basis of types, the Lithium Titanate Battery market from 2018 to 2029 is primarily split into:

15-1000mAh
1000-5000mAh
5000-10000mAh
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Lithium Titanate Battery market from 2018 to 2029 covers:

Speed Charging
Energy Storage
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)