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

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

A low-temperature battery is a new generation lithium-ion battery, mainly used in a low-temperature environment. It is a unique battery developed to tackle the low-temperature defects that commonly appear in the performance of chemical power sources. As the name suggests, the low-temperature battery can power in extremely low temperatures as low as -50°C.

The low-temperature battery is ideal for equipment operating under icy conditions. A low-temperature battery can effectively power the electronic equipment requirement. Generally, at a -20°C weather condition, a typical lithium-ion battery can work without any issues. But when the temperature is below -30°C or even down -50°C, a low-temperature lithium-ion battery is imperative to keep the device moving forward.

Market Overview:

The latest research study on the global Low Temperature Battery market finds that the global Low Temperature Battery market reached a value of USD 3448.61 million in 2022. It’s expected that the market will achieve USD 6913.99 million by 2028, exhibiting a CAGR of 12.29% during the forecast period.

Technical Progress

Low-temperature lithium iron phosphate battery is a new technology developed after long-term research and testing. Raw materials with special functions are added to the electrolyte. Excellent raw materials and technology ensure the high-efficiency discharge performance of the battery at shallow temperature. At present, the types of low-temperature batteries that it can put on the market mainly include low-temperature lithium iron phosphate batteries and polymer low-temperature lithium batteries. These two types of low-temperature battery technologies are relatively mature.

Demand For Electric Vehicles Is Increasing

The problem of decreasing the endurance of new energy vehicles in winter has become a social topic, and it is also an important reason that affects the penetration rate of electric vehicles in cold areas. Endurance in winter is the core index of vehicle manufacturers' ride experience, and the low-temperature performance of batteries is the core competitiveness of battery manufacturers, which has great market potential in the future.

Low temperature environment charging challenge

In terms of charging, for electric vehicles, high-current charging of batteries in low-temperature environment will bring the risk of lithium precipitation, which will bring potential safety hazards and shorten the life of batteries. To avoid this problem, the battery charging current will automatically decrease in low temperature environment, which will lead to the increase of battery charging time.

Region Overview:

In 2021, the share of the Low Temperature Battery market in Asia Pacific stood at 60.77%.

Company Overview:

Panasonic, LG Chem, Lishen were the top 3 players in the Low Temperature Battery market in 2022, taking up a market share of 43.97% together.

Panasonic

Panasonic Corp (Panasonic) develops, produces, sells and services a range of electric and electronic products. Its products find application in the areas of consumer electronics, housing, B2B and automotive sectors. Panasonic's product portfolio include room air-conditioners, TVs, fixed-phones, digital cameras, video equipment, home audio equipment, rice cookers, lamps, wiring devices, air-conditioning equipment, air purifiers and bicycles. It also offers electronic components, mounting machines, welding equipment, PCs and tablets, projectors, surveillance cameras, batteries, electric motors, electronic components, electronic materials, semiconductors and LCD panels. The company manages and operates manufacturing facilities and research and development centers in Asia, the Americas, and Europe.

LG Chem

LG Chem Ltd. manufactures petrochemicals, IT & electronic materials and energy solution materials. It operates through through the following business segments: Petrochemicals, IT & Electronic Materials, Batteries. The Petrochemical division offers naphtha cracking centers and polyolefins, synthetic rubbers and specialty polymers, polyvinyl chloride, acrylonitrile-butadiene-styrene and engineering plastics, acrylates and plasticizers. The IT & Electronic Material division provides optical and display materials namely polarizers, phosphors, organic light emitting diode, photosensitive materials for liquid crystal display; printed circuit materials such as flexible materials, halogen free materials, integrated circuit packaging materials, epoxy resin system materials, high speed materials and build-up materials; toners such as color toners, black laser printer toners and black copier toners. The Battery division provides lithium-ion cylindrical batteries, lithium-ion polymer batteries, lithium-ion prismatic batteries, medium and large batteries.

Segmentation Overview:

Among different product types, Low Temperature Lithium Polymer Battery segment is anticipated to contribute the largest market share in 2027.

Low Temperature Lithium Polymer Battery

Low-temperature lithium polymer batteries have the best low-temperature performance especially in smart wearable devices, where the advantages are more prominent. Under low-temperatures, the batteries can achieve a lower internal resistance and, thus, a high discharge rate.

They are able to discharge over 60% efficiency at 0.2C at -40°C and discharge over 80% efficiency at 0.2C at -30°C. The batteries can be ready for mass production, and they have been widely used in cold climates and military products.

Low Temperature 18650 Lithium Battery

Low-temperature 18650 lithium-ion batteries mainly consist of liquid electrolytes. these cylindrical batteries with steel shells have fixed dimensions, which means that their shape and size are fixed as well. The largest capacity is currently 3300mAh, which can only be achieved by a limited number of manufacturers.

At temperatures between -40°C, to 60°C, the effective discharge capacity is 40% to 55%, and the effective cycle life is more than 180 cycles. Due to the fixed performance and size of the battery, there is limited use for this battery, but its production and manufacturing costs are relatively low.

Low Temperature Lithium Iron Phosphate Battery

LiFePO4 is the synonym for Lithium Iron Phosphate battery. In a Lithium Iron Phosphate battery, lithium iron phosphate is the cathode material, and the anode is the graphitic carbon electrode with a metal backing. It has a low operating voltage, and its energy density is much lower than an ordinary lithium-ion battery like Nickel Manganese Cobalt and Nickel Cobalt Aluminum. Because of these features, it has an extended lifespan, low operation cost, and meager toxicity. These batteries are cobalt-free and have more significant utility factors; hence are ideal for electric vehicles and power backup solutions.

Lithium-ion phosphate can perform better than sealed lead-acid batteries. LiFePO4 low-temperature charging battery works for an extended period, delivers more power, longer lifespan, and recharges faster than sealed lead-acid batteries. LiFePO4 low temperature charging the battery will have a higher discharge rate in cold weather conditions, i.e., in a low temperature than sealed lead-acid batteries.

Application Overview:

By application, the Industrial segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Low Temperature Battery market covered in Chapter 3:

Maxell
Shenzhen Grepow
CALB Technology
LG Chem
Panasonic
EEMB
Great Power
RELiON
Lishen
Soundon New Energy
Large
Wanxiang(A123 Systems)
BYD

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

Low Temperature Lithium Polymer Battery
Low Temperature 18650 Lithium Battery
Low Temperature Lithium Iron Phosphate Battery
Others

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

Industrial
Military

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)