The global lithium-ionbattery market is expected to reach USD 93.1 billion
by 2025, growing at a CAGR of 17.0%, according to a new report by Grand View
Research, Inc. Increased usage of lithium-ion batteries in electric vehicles,
portable consumer electronics and grid storage systems owing to its high energy
density and high safety level is expected to drive market demand.
Lithium-ion batteries are used in
applications that require lightweight and high-energy density solutions. These
batteries provide the highest energy density per weight and are mostly used in
cellular phones, notebook computers, and hybrid automobiles.
Technological advancements to reduce the
weight of batteries, cost and increase their power output, is expected to
augment industry expansion. In addition, competent distribution channels are
likely to be an important way to gain a competitive advantage.
Energy storage system is expected to
witness the fastest growth over the forecast period at a CAGR of 21% from 2017
to 2025 owing to the developments in wind and solar PV in countries including
Germany, China and U.S.
Asia Pacific was the dominant market and
accounted for 48.3% of the global share in 2016. The region is expected to show
substantial rise on account of implementation of government policies to promote
electric vehicles in India & China.
Moreover, presence of key energy generation
companies in China including China Guangdong Nuclear Power Group, China
National Nuclear Corporation, Shenergy Group, and Shenhua Group is expected to
propel industry growth.
Full research report on lithium-ion battery market analysis:
http://www.grandviewresearch.com/industry-analysis/lithium-ion-battery-market
http://www.grandviewresearch.com/industry-analysis/lithium-ion-battery-market
Further key findings from the report suggest:
·
Lithium cobalt oxide (LCO) was the dominant
product segment and was valued at USD 7.15 billion in 2016 on account of its
high usage in mobile phones, tablets, laptops, cameras as it offers high energy
density and high safety level. However, its relatively short life span, low
thermal stability and limited load capabilities is likely to act as restrain to
demand.
·
Growing adoption of solar power systems and
e-bikes in UK, Germany, and Netherlands will stimulate industry growth. Growing
lithium-ion battery demand in Germany, Spain, Italy, France and the UK is
expected to have a positive impact over the forecast period.
·
Consumer electronics was the largest
application segment and accounted for 52.3% of the overall share in 2016. The
increasing demand for portable devices including mobiles, and tablets in China
and India is expected to drive demand.
·
North America was the second largest market
and accounted for 25.9% of the overall revenue in 2016 and is anticipated to
show substantial growth considering increasing sales of electric vehicles and
smart phones.
·
The industry is highly competitive with the
presence of major players including Panasonic Corporation, Hitachi Chemical
Co., Ltd., GS Yuasa International Ltd., Samsung SDI Co., Ltd., LG Chem, and
BYD.
·
In March 2016, Daimler AG invested USD
586.7 million to install second lithium-ion batteries facility in Germany for electric
vehicles and hybrids under the Mercedes-Benz brand
·
In January 2016, Nissan invested USD 31.0
million to manufacture future-generation electric vehicle batteries at its
advanced lithium-ion battery plant in Sunderland
View more reports of this category by Grand
View Research at: https://www.grandviewresearch.com/industry/power-generation-and-storage
Grand View Research has segmented the global lithium-ion battery market
on the basis of product, application, and region:
Product Outlook (Revenue, USD Million, 2014
- 2025)
·
Lithium Cobalt Oxide (LCO)
·
Lithium Iron Phosphate (LFP)
·
Lithium Nickel Cobalt Aluminum Oxide (NCA)
·
Lithium Manganese Oxide (LMO)
·
Lithium Titanate (LTO)
·
Lithium Nickel Manganese Cobalt
Application Outlook (Revenue, USD Million,
2014 - 2025)
·
Automotive
·
Consumer Electronics
·
Industrial
·
Energy Storage Systems
Regional Outlook (Revenue, USD Million,
2014 - 2025)
·
North America
o
U.S.
·
Europe
o
Germany
o
UK
·
Asia Pacific
o
China
o
India
·
Central & South America
o
Brazil
·
Middle East & Africa
Access Full Press Release of this
Report:
https://www.grandviewresearch.com/press-release/global-lithium-ion-battery-market
https://www.grandviewresearch.com/press-release/global-lithium-ion-battery-market
About Grand View Research
Grand View
Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more information: https://www.grandviewresearch.com/
