**Embracing Lucrative Opportunities: The Booming Lithium-Ion Battery Market**
In a recent groundbreaking report, titled “Lithium-Ion Battery Market Analysis and Forecast from 2023 to 2031,” industry experts shed light on the impressive growth trajectory and immense potential of the keyword market. This thriving sector has become a hotspot for savvy investors and stakeholders looking to capitalize on its rapid expansion.
The report leaves no stone unturned in its comprehensive analysis, delving into a wide range of factors that drive the market’s impressive growth. It meticulously segments the market based on Regions, Country, Company, and other key segments, providing invaluable insights for businesses seeking to make informed decisions and gain a competitive edge.
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The global lithium-ion battery market held a market value of USD 48,658.4 Million in 2020 and is estimated to reach USD 67,818.9 Million by the year 2027. The market is anticipated to register a CAGR of 5.3% during the forecast period.
Lithium-ion batteries are a type of rechargeable battery. They are quite commonly used in electric vehicles and portable electronics. It also has numerous applications in the military and aerospace sectors. The market is witnessing mid-single-digit growth owing to the factors such as increasing penetration of electric vehicle sales and rising adoption of consumer electronics.
The market is expected to be negatively influenced by the heavy reliance on imports of lithium-ion batteries and the availability of limited technical information about them. Furthermore, safety concerns regarding the storage and transportation of spent batteries are also estimated to hinder market growth.
Cobalt, nickel, lithium, copper, and graphite are the primary metals used in manufacturing of lithium-ion batteries, constituting approximately 50 to 60% of the total cost of the batteries. Furthermore, the cost of lithium-ion batteries is dependent on various components, such as equity return, tax, depreciation, working capital, term loan, S&G, overheads, R&D, O&M, insurance, labor, energy, separator, Mn+Ni+Co, Graphite, and Lithium, among others. The material cost contributes to near about 66%. The cost of lithium-ion batteries in electric vehicles is also dependent on various components; include pack components, cell material, depreciation/financing, overheads, margin & warranty, and labor, among others. The pack components contribute to a major share of the cost.
Growth Influencers:
Increasing penetration of electric vehicle sales
The main source of power for electric vehicles is lithium-ion batteries. The rising adoption of electric vehicles owing to the increasing awareness regarding the environmental impact of non-electric vehicles is expected to boost the market growth. The sales of electric vehicles are rapidly rising owing to their high popularity as they have very fewer maintenance costs as compared to their counterparts and they are also energy savings. Due to these factors, electric vehicles are considered the future of the automobile industry, hence also boosting the demand for lithium-ion batteries.
Increasing adoption of consumer electronics
Lithium-ion batteries are used in consumer electronics, such as smartphones, digital cameras, and power tools, among others. Since the demand for high battery power for the wireless device is continuously increasing; the demand for lithium-ion batteries is also rapidly increasing. Other examples of consumer electronics, using lithium-ion batteries include, wearable devices, laptops, tablets, computers, TVs, VR & AR devices, and gaming consoles, among others. Rising demand for all these devices is expected to fuel market growth.
Segments Overview:
The global lithium-ion battery market is segmented into type, power capacity, application, and form/design.
By Type,
? Lithium Nickel Magnesium Cobalt (LI-NMC)
? Lithium Ferro Phosphate (LFP)
? Lithium Cobalt Oxide (LCO)
? Lithium Titanate Oxide (LTO)
? Lithium Manganese Oxide (LMO)
? Lithium Nickel Cobalt Aluminum Oxide (NCA)
The lithium nickel magnesium cobalt (LI-NMC) segment is anticipated to hold the largest market share and is also expected to grow at the fastest CAGR of 36% owing to its growing adoption in electric bikes, power tools, and other such electric tools. The lithium manganese oxide (LMO) is estimated to grow at a CAGR of 19.8%.
By Power Capacity,
? 0-300 mAH
? 3,000-10,000 mAH
? 10,000-60,000 mAH
? More than 60,000 mAH
The 3,000-10,000 mAH segment is expected to grow at the fastest rate and is anticipated to surpass USD 60,500 million by 2024. The more than 60,000 mAH segment is estimated to grow at a CAGR of 18.7% during the forecast period.
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By Application,
? Consumer Electronics OEMs
o Smartphones
o Laptops
o UPS Systems
o Smart Cameras
o Smart Watches
o Smart Glasses
o Smart Textiles
o Others
? Automotive OEMs
o Hybrid Electric Vehicles (HEVs)
o Battery Electric Vehicles (BEVs)
o Others (Service Stations/Dealers)
? Energy Storage
o Commercial
o Industrial
o Residential
o Utilities
? Industrial OEMs
o Military
o Industrial Equipment
o Medical
o Marine
o Telecommunication
o Mining
o Forklifts
o Others
? Other OEMs
? Aftermarket
The automotive OEMs segment is anticipated to grow at the largest share of about 60% owing to the rising applications of lithium-ion batteries in battery-driven vehicles. Amongst the automotive OEMs, the hybrid electric vehicles segment is expected to grow at a CAGR of 24.8%.
By Form/Design,
? Pouch
? Cylindrical
? Elliptical
? Prismatic
? Custom Design
The cylindrical segment is anticipated to hold the largest market share owing to the high demand for cylindrical-shaped lithium-ion batteries. The prismatic segment is expected to grow at the fastest growth rate over the forecast period.
Regional Overview
By region, the global lithium-ion battery market is divided into Europe, North America, Asia Pacific, Middle East & Africa, and South America.
The Asia Pacific region is expected to hold the largest market share owing to the presence of nations, such as China and Japan. These are the second and third largest electric vehicles market globally. Furthermore, Asia Pacific is one of the largest smartphone manufacturers, globally, which is also expected to contribute to the market growth.
The European region is anticipated to grow at the fastest growing rate of 24.7% owing to the rising awareness regarding lithium-ion batteries. Furthermore, increasing demand for consumer electronics. The North American region is also anticipated to grow at a considerable rate.
Competitive Landscape
Key players operating in the global lithium-ion battery market include BYD Company, LG Chem, Panasonic Corporation, Samsung SDI, BAK Group, Hitachi Corporation, Johnson Controls, Toshiba Corporation, Raja Groups, Tata Chemicals, TDK Electronics AG, Sony Corporation, Murata Manufacturing Co., Ltd., Amperex Technology Limited, LITEC Co., Ltd, GS Yuasa International Ltd, and Automotive Energy Supply Corporation, among others.
Major 6 players in the market hold approximately 64% of the market share. These market players are investing in product launches, collaborations, mergers & acquisitions, and expansions to create a competitive edge in the market. For instance, in July 2021, BYD UK partnered with Alexander Dennis Limited to extend their electric vehicle partnership and sign an agreement with the National Transport Authority of Ireland for delivering 200 BYD ADL Enviro200EV zero-emission battery-operated electric busses. The delivery is expected to commence by 2022.
The global lithium-ion battery market report provides insights on the below pointers:
? Market Penetration: Provides comprehensive information on the market offered by the prominent players
? Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
? Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
? Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the global Lithium-ion battery market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
? Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
? Pricing Analysis: Pricing analysis of various metals and other components used in the manufacturing of lithium-ion batteries
? Manufacturing Cost Analysis: Cost-share of various components in LiB, cost analysis of EV LiB, Cost Analysis of Consumer Grade LiB, Unit Cost Analysis of EV Battery Pack, Cell Component Cost Analysis ? EV LiB Battery, Cell Component Cost Analysis ? LiB Battery
The global Lithium-ion battery market report answers questions such as:
? What is the market size and forecast of the Global Lithium-ion battery Market?
? What are the inhibiting factors and impact of COVID-19 on the Global Lithium-ion battery Market during the assessment period?
? Which are the products/segments/applications/areas to invest in over the assessment period in the Global Lithium-ion battery Market?
? What is the competitive strategic window for opportunities in the Global Lithium-ion battery Market?
? What are the technology trends and regulatory frameworks in the Global Lithium-ion battery Market?
? What is the market share of the leading players in the Global Lithium-ion battery Market?
? What modes and strategic moves are considered favorable for entering the Global Lithium-ion battery Market?
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Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
Key Reasons to Purchase this Report:
Strategic Direction: This research report provides insightful analysis and strategic advice for senior executives, decision-makers, professionals, sales managers, and other market stakeholders working in this space. It aids in decision-making and offers strategic recommendations for product advancements.
Comprehensive Analysis: Both economic and non-economic aspects are taken into account in the report’s thorough qualitative and quantitative analysis of the market. For a complete knowledge of market dynamics, it contains a segment breakdown with market evaluations expressed in terms of value (USD Billion) for each segment.
Growth Opportunities: The research highlights the geographies and market categories predicted to expand at the highest rates, potentially positioning them to dominate their respective markets. It offers a thorough examination of consumption trends in various geographic areas and highlights the variables affecting regional market trends.
Competitive Landscape: The competitive landscape section lists the top market rivals and discusses current business expansions, collaborations, product launches, and acquisitions. This data makes it easier to evaluate significant players’ market positions.
Detailed Company Profiles: These include their company description, insights, product benchmarking, and SWOT analysis, providing a thorough picture of the major market participants. Stakeholders are able to assess the advantages and disadvantages of the leading market players due to these profiles.
Future Market Outlook: The study presents recent trends, growth prospects, drivers, challenges, and restraints in both emerging and developed regions. It also includes current and future market outlooks. It gives stakeholders knowledge of potential industry trends and aids in their prediction of upcoming market dynamics.
Industry Analysis: Using Porter’s Five Forces Analysis, the research provides a comprehensive analysis of the industry, looking at factors such as the bargaining power of customers and suppliers, rivalry among businesses, the threat of alternative products, and the threat of new entrants. This research helps to comprehend how fiercely the market is competitive.
Value Chain Insights: Through a thorough examination of the value chain, the research offers insightful information about the market. This aids stakeholders in comprehending the main processes and actors involved in the creation and supply of the good or service.
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