Lithium-ion Battery Market, Size, Global Forecast 2022-2027, Industry Trends, Growth, Impact of COVID-19, Opportunity Company Analysis
The Global Lithium-Ion Battery Industry is anticipated to reach US$ 105.35 Billion in 2027. Lithium-Ion Battery, a rechargeable battery, is an advanced battery technology that uses lithium ions as a significant component of its electrochemistry. Li-ion battery has a very high voltage and charges storage per unit mass and volume compared to other batteries. Additionally, Lithium-Ion Battery exhibits low self-discharge, high energy density, and extending lifetime with improved charging speed. Besides, the market for lithium-ion batteries, the subsequent increase in the registration of EVs and a decrease in price of lithium-ion batteries are boosting the market.
Global Lithium-Ion Battery Industry is expected to expand at a CAGR of 14.6% during 2021-2027
Current rapid advancements in lithium-ion (Li-ion) battery costs and performance, coupled with expanding demand for electric vehicles (EVs) and boosted renewable energy generation, have unleashed enormous investments in the advanced battery technology ecosystem. Further, the investments are expected to push Lithium-ion battery technologies across competitive thresholds for applications more quickly than anticipated. Remarkably, in turn, reducing the costs of decarbonization in crucial sectors and speeding the global energy evolution beyond the anticipations of mainstream global energy models.
Components Is Likely to Continue to Diverge in Terms of the Types:
Our report covers cathode, anode, and electrolytic solutions as components in Lithium-Ion Battery Market. As per our analysis, components studied are likely to diverge in terms of the types of cathodes, anodes, and electrolytes used. Besides, these various approaches are pursuing improvements across several areas in the industry. Remarkably, Lithium-ion batteries' scaling pathway is unlike silicon photovoltaic cells. As investment in Li-ion expands, companies are seeking different battery chemistry compositions with widely varying performance attributes. According to Renub Research, Global Lithium-Ion Battery Market Size was US$ 46.43 Billion in 2021.
Lithium-Ion Battery Market - By Product Type & End User Analysis:
Globally, By Product Type, Lithium Cobalt Oxide (LCO), Lithium Iron Phosphate (LFP), Lithium Nickel Cobalt Aluminum Oxide (NCA), Lithium Manganese Oxide (LMO), Lithium Titanate, and Lithium Nickel Manganese Cobalt are well positioned in the market to enable high penetration and fast charging of end-users like electrical & electronics, automotive and industries. Besides, the diversifying applications are creating substantial market opportunities for lithium-ion batteries. Remarkably, Lithium-ion batteries are utilized in the global fleet of end-users like electrical & electronics, automotive and industries recently are trending as part of the transition towards a clean energy system.
Regional Realms: Asia-Pacific controls the Lithium-Ion Battery Market
Globally, the continuing electrification of the energy system for the clean energy transition maintains the growth in lithium-ion battery demand. Asia-Pacific holds the lion's share. Further, as per our analysis, the annual demand for lithium-ion batteries and energy storage may be approximately ten times higher than it is today in the region. Similarly, Europe also represents a sizeable lithium-ion market. The ever-growing sales of electric cars tend to boost the lithium-ion battery industry in the region. Europe is expected to have the adequate manufacturing capacity to meet domestic demand in the near term. Moreover, the market expansion will largely depend on (foreign) investment and a few significant players.
Key Market Players:
The key market players include BYD Company Ltd., Samsung SDI Company Limited, GS Yuasa Corporation, Johnsons Controls Inc., Exide Technologies. Massive investments in lithium-ion battery manufacturing and steady advances in technology have set in motion a seismic shift powering the global lives and organizing energy systems. Moreover, the key players analyze that the global ecosystem will emerge over the forecasted years to deliver a foundation for rapid innovation and scaling of new technologies. In addition, fast-changing infrastructure with massive expansion enables meeting the needs of a rapidly growing market.
COVID-19 Restrictions on Global Lithium-Ion Battery Industry:
The COVID-19 restrictions harmed raw materials such as lithium-ion, which witnessed a significant demand drop for lithium-ion batteries in 2020, thus, adversely affecting the lithium-ion battery market globally. For automotive and battery makers, there was challenging to retain control of the battery demand to squeeze out as much value as attainable without losing value in unnecessary transactions. However, in 2021, the lithium-ion batteries market represented some clear recovery patterns for lithium-ion batteries with room for innovation and change.
Renub Research report titled ""Lithium-ion Battery Market, Global Forecast by Components (Cathode, Anode, Electrolytic Solution, Others), Product Type (Lithium Cobalt Oxide (LCO), Lithium Iron Phosphate (LFP), Lithium Nickel Cobalt Aluminum Oxide (NCA), Lithium Manganese Oxide (LMO), Lithium Titanate, and Lithium Nickel Manganese Cobalt), End- users (Electrical & Electronics, Automotive, Industries, Others), Region ( North America, Europe, Asia Pacific and Rest of the World), Companies (BYD Company Ltd., Samsung SDI Company Limited, GS Yuasa Corporation, Johnsons Controls Inc., Exide Technologies) "" provides an all-encompassing analysis on the Global Lithium-Ion Battery Industry.
Components – Market has been covered from 4 viewpoints:
1. Cathode
2. Anode
3. Electrolytic Solution
4. Others
Product Type – Market has been covered from 6 viewpoints:
1. Lithium Cobalt Oxide (LCO)
2. Lithium Iron Phosphate (LFP)
3. Lithium Nickel Cobalt Aluminum Oxide (NCA)
4. Lithium Manganese Oxide (LMO)
5. Lithium Titanate
6. Lithium Nickel Manganese Cobalt
End User – Market has been covered from 4 viewpoints:
1. Electrical & Electronic
2. Automotive
3. Industrial
4. Others
Region – Market has been covered from 4 viewpoints:
1. North America
2. Europe
3. Asia Pacific
4. Rest of the World
Company Insights:
• Overview
• Recent Development
• Financial Insight
Company Analysis:
1. BYD Company Ltd.
2. Samsung SDI Company Limited
3. GS Yuasa Corporation
4. Johnsons Controls Inc.
5. Exide Technologies
- 1. Introduction
- 2. Research Methodology
- 3. Executive Summary
- 4. Market Dynamics
- 4.1 Growth Drivers
- 4.2 Challenges
- 5. Lithium-Ion Battery Market
- 6. Market Share – Lithium-Ion Battery Market
- 6.1 By Components
- 6.2 By Product Type
- 6.3 By End User
- 6.4 By Region
- 7. Components – Lithium-Ion Battery Market
- 7.1 Cathode
- 7.2 Anode
- 7.3 Electrolytic Solution
- 7.4 Others
- 8. Product Type – Lithium-Ion Battery Market
- 8.1 Lithium Cobalt Oxide (LCO)
- 8.2 Lithium Iron Phosphate (LFP)
- 8.3 Lithium Nickel Cobalt Aluminum Oxide (NCA)
- 8.4 Lithium Manganese Oxide (LMO)
- 8.5 Lithium Titanate
- 8.6 Lithium Nickel Manganese Cobalt
- 9. End User – Lithium-Ion Battery Market
- 9.1 Electrical & Electronics
- 9.2 Automotive
- 9.3 Industrial
- 9.4 Others
- 10. Region – Lithium-Ion Battery Market
- 10.1 North America
- 10.2 Europe
- 10.3 Asia Pacific
- 10.4 Rest of the Worl
- 11. Porters Five Forces
- 11.1 Overview
- 11.2 Bargaining Power of Buyers
- 11.3 Bargaining Power of Suppliers
- 11.4 Degree of Competition
- 11.5 Threat of New Entrants
- 11.6 Threat of Substitutes
- 12. Company Analysis
- 12.1 BYD Company Ltd.
- 12.1.1 Overview
- 12.1.2 Recent Development
- 12.1.3 Financial Insight
- 12.2 Samsung SDI Company Limited
- 12.2.1 Overview
- 12.2.2 Recent Development
- 12.2.3 Financial Insight
- 12.3 GS Yuasa Corporation
- 12.3.1 Overview
- 12.3.2 Recent Development
- 12.3.3 Financial Insight
- 12.4 Johnsons Controls Inc.
- 12.4.1 Overview
- 12.4.2 Recent Development
- 12.4.3 Financial Insight
- 12.5 Exide Technologies
- 12.5.1 Overview
- 12.5.2 Recent Development
- 12.5.3 Financial Insight
- List Of Figures:
- Figure-01: Global – Lithium-Ion Battery Market (Billion US$), 2018 – 2021
- Figure-02: Global – Forecast for Lithium-Ion Battery Market (Billion US$), 2022 – 2027
- Figure-03: Components – Cathode Market (Billion US$), 2018 – 2021
- Figure-04: Components – Forecast for Cathode Market (Billion US$), 2022 – 2027
- Figure-05: Components – Anode Market (Billion US$), 2018 – 2021
- Figure-06: Components – Forecast for Anode Market (Billion US$), 2022 – 2027
- Figure-07: Components – Electrolytic Solution Market (Billion US$), 2018 – 2021
- Figure-08: Components – Forecast for Electrolytic Solution Market (Billion US$), 2022 – 2027
- Figure-09: Components – Others Market (Billion US$), 2018 – 2021
- Figure-10: Components – Forecast for Others Market (Billion US$), 2022 – 2027
- Figure-11: Product Type – Lithium Cobalt Oxide (LCO) Market (Billion US$), 2018 – 2021
- Figure-12: Product Type – Forecast for Lithium Cobalt Oxide (LCO) Market (Billion US$), 2022 – 2027
- Figure-13: Product Type – Lithium Iron Phosphate (LFP) Market (Billion US$), 2018 – 2021
- Figure-14: Product Type – Forecast for Lithium Iron Phosphate (LFP) Market (Billion US$), 2022 – 2027
- Figure-15: Product Type – Lithium Nickel Cobalt Aluminum Oxide (NCA) Market (Billion US$), 2018 – 2021
- Figure-16: Product Type – Forecast for Lithium Nickel Cobalt Aluminum Oxide (NCA) Market (Billion US$), 2022 – 2027
- Figure-17: Product Type – Lithium Manganese Oxide (LMO) Market (Billion US$), 2018 – 2021
- Figure-18: Product Type – Forecast for Lithium Manganese Oxide (LMO) Market (Billion US$), 2022 – 2027
- Figure-19: Product Type – Lithium Titanate Market (Billion US$), 2018 – 2021
- Figure-20: Product Type – Forecast for Lithium Titanate Market (Billion US$), 2022 – 2027
- Figure-21: Product Type – Lithium Nickel Manganese Cobalt Market (Billion US$), 2018 – 2021
- Figure-22: Product Type – Forecast for Lithium Nickel Manganese Cobalt Market (Billion US$), 2022 – 2027
- Figure-23: End User – Electrical & Electronics Market (Billion US$), 2018 – 2021
- Figure-24: End User – Forecast for Electrical & Electronics Market (Billion US$), 2022 – 2027
- Figure-25: End User – Automotive Market (Billion US$), 2018 – 2021
- Figure-26: End User – Forecast for Automotive Market (Billion US$), 2022 – 2027
- Figure-27: End User – Industrial Market (Billion US$), 2018 – 2021
- Figure-28: End User – Forecast for Industrial Market (Billion US$), 2022 – 2027
- Figure-29: End User – Others Market (Billion US$), 2018 – 2021
- Figure-30: End User – Forecast for Others Market (Billion US$), 2022 – 2027
- Figure-31: North America – Lithium-Ion Battery Market (Billion US$), 2018 – 2021
- Figure-32: North America – Forecast for Lithium-Ion Battery Market (Billion US$), 2022 – 2027
- Figure-33: Europe – Lithium-Ion Battery Market (Billion US$), 2018 – 2021
- Figure-34: Europe – Forecast for Lithium-Ion Battery Market (Billion US$), 2022 – 2027
- Figure-35: Asia Pacific – Lithium-Ion Battery Market (Billion US$), 2018 – 2021
- Figure-36: Asia Pacific – Forecast for Lithium-Ion Battery Market (Billion US$), 2022 – 2027
- Figure-37: Rest of the World – Lithium-Ion Battery Market (Billion US$), 2018 – 2021
- Figure-38: Rest of the World – Forecast for Lithium-Ion Battery Market (Billion US$), 2022 – 2027
- Figure-39: BYD Company Ltd. – Global Revenue (Billion US$), 2018 – 2021
- Figure-40: BYD Company Ltd. – Forecast for Global Revenue (Billion US$), 2022 – 2027
- Figure-41: Samsung SDI Company Limited – Global Revenue (Billion US$), 2018 – 2021
- Figure-42: Samsung SDI Company Limited – Forecast for Global Revenue (Billion US$), 2022 – 2027
- Figure-43: GS Yuasa Corporation – Global Revenue (Billion US$), 2018 – 2021
- Figure-44: GS Yuasa Corporation – Forecast for Global Revenue (Billion US$), 2022 – 2027
- Figure-45: Johnsons Controls Inc. – Global Revenue (Billion US$), 2018 – 2021
- Figure-46: Johnsons Controls Inc. – Forecast for Global Revenue (Billion US$), 2022 – 2027
- Figure-47: Exide Technologies – Global Revenue (Billion US$), 2018 – 2021
- Figure-48: Exide Technologies – Forecast for Global Revenue (Billion US$), 2022 – 2027
- List Of Tables:
- Table-01: Global – Lithium-Ion Battery Market Share by Components (Percent), 2018 – 2021
- Table-02: Global – Forecast for Lithium-Ion Battery Market Share by Components (Percent), 2022 – 2027
- Table-03: Global – Lithium-Ion Battery Market Share by Product Type (Percent), 2018 – 2021
- Table-04: Global – Forecast for Lithium-Ion Battery Market Share by Product Type (Percent), 2022 – 2027
- Table-05: Global – Lithium-Ion Battery Market Share by End User (Percent), 2018 – 2021
- Table-06: Global – Forecast for Lithium-Ion Battery Market Share by End User (Percent), 2022 – 2027
- Table-07: Global – Lithium-Ion Battery Market Share by Region (Percent), 2018 – 2021
- Table-08: Global – Forecast for Lithium-Ion Battery Market Share by Region (Percent), 2022 – 2027
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