Sales of Li-Ion Battery Packs Plummet as COVID-19 Pandemic Hampers Lithium Production : Fact.MR

Posted on 2021-08-24 by Future Market Insights, Inc in Industrial // 0 Comments

The global Li-Ion battery pack market was valued at US$ 57.4 billion in 2020 and is expected to add value worth US$ 3.3 billion during the forecast period. The market is anticipated to expand at a CAGR of 2.7%. However, amid the COVID-19 pandemic, the market is poised to stagnate for the next couple of financial quarters. This is attributed to a significant drop in the demand for Li-ion battery packs globally. The adoption is expected to remain low as stringent lockdowns amid COVID-19 has created exceptional dormancy in end use industries such as consumer electronics, and automotive industry.

In addition, impact of COVID-19 on the mining industry has lowered the production of lithium. Consequently, companies in East Asia which have resumed operations post-lockdown are experiencing insufficient raw material supply, compelling companies to work at a significantly lower capacity. This in turn, is poised to disturb the business eco – system in the global li-ion battery pack market. However, the market is projected to create significant opportunity in the second half of the forecast period, when impact of COVID-19 pandemic will be brought under control globally.

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Key Takeaways of Li Ion Battery Pack Market

Global Li-ion battery pack market is expected to grow at a volume CAGR of 2.6%, expanding 1.3X in terms of value from 2020 through 2030.
Lithium cobalt oxide battery type will hold the maximum share in terms of value, at US$ 64.4 billion by the end of forecast period (2020 – 2030).
Pouch cells are set to grow at a value CAGR of 4.7% and are expected to gain 271 BPS on their market share by the end of forecast period.
Nominal voltage less than 12V is expected to account for majority share in terms of value. It is projected to create absolute $ opportunity of more than US$ 8.9 billion during the forecast period.
Batteries with capacity less than 20KWhr & 30-60KWhr are projected to grow at a value CAGR of 3.2% & 2.4% respectively and will collectively create absolute $ opportunity of more than US$ 14.6 billion by the end of the forecast period.
Automotive end use sector is anticipated to hold more than 89% share, creating an absolute $ opportunity of more than US$ 15.2 billion during forecast period.
APEJ is prophesied to hold maximum share in terms of value and will expand at CAGR of 3% by the end of the forecast period.

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Key Segments of the Li-ion Battery Pack Market

Fact.MR’s study on the Li-ion battery pack market offers information divided into two key segments-product type, cell type, nominal voltage, battery capacity, end use across six major regions. This report offers comprehensive data and information about important market dynamics and growth parameters associated with these categories.

Product Type

Lithium Cobalt Oxide
Lithium Magnesium Oxide
Lithium Iron Phosphate
Lithium Nickle Manganese Cobalt Oxide
Lithium Nickle Cobalt Aluminium Oxide
Lithium Titanate

Cell Type

Cylindrical
Prismatic
Pouch

Nominal Voltage

Less than 12V
12V
24V
More than 24V

Battery Capacity

>20 KWhr
30-60 KWHr
60-80
More than 80

End Use

Automotive
- BEV
- PHEV
- HEV
Consumer Electronics
- Laptops
- Digital Camera
- AIDC
- Others
Medical Devices
Industrial & Grid Energy

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Following Questions Answers Covered in the Report are:

How will the global Li-Ion Battery Pack Market perform during the forecast period? What will be the market size in terms of value and volume?
Which segment will drive the global Li-Ion Battery Pack Market? Which regional market will show extensive growth in the future? What are the reasons?
How will the market dynamics change because of the impact of future market opportunities, restraints, and drivers?
What are the key strategies adopted by players to sustain themselves in the global Li-Ion Battery Pack Market?
How will these strategies influence the market growth and competition?

Regional analysis includes

North America (U.S., Canada)
Latin America (Brazil, Mexico, Argentina, Chile, Peru, Rest of LATAM)
EU – (Germany, France, Italy, Spain), UK, BENELUX (Belgium, Netherlands, Luxemburg), NORDIC (Norway, Denmark, Iceland, Sweden), Eastern Europe (Poland, Ukraine, Czech Rep. etc.), Rest of Europe
CIS & Russia
Japan
Asia Pacific Excluding Japan (Greater China, India, S. Korea, ASEAN Countries, Rest of APEJ)
Middle East and Africa (GCC Countries, Turkey, Iran, Israel, South Africa , Rest of MEA)

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The Report Covers Exhaustive Analysis On:

Market Segments
Market Dynamics
Market Size & Demand
Current Trends/Issues/Challenges
Competition & Companies involved
Technology
Value Chain

The Li-Ion Battery Pack Market report answers the following queries:

What is the largest share held by key players in the market?
What strategies have proven most advantageous in the Li-Ion Battery Pack Market?
Which region promises largest opportunity for new investors during the forecast period 2021 to 2031?
What factors will most likely present challenges to growth during the forecast period?
What will be the value of total revenues, and at what CAGR will the growth compound during the forecast period 2021 to 2031?

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Key Takeaways of Li Ion Battery Pack Market

Key Segments of the Li-ion Battery Pack Market

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