Li-Ion Battery Pack Market To Flourish With An Impressive CAGR During 2031

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.

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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 Covered

  • Product Type

    • Lithium Cobalt Oxide Battery Pack
    • Lithium Magnesium Oxide Battery Pack
    • Lithium Iron Phosphate Battery Pack
    • Lithium Nickle Manganese Cobalt Oxide Battery Pack
    • Lithium Nickle Cobalt Aluminium Oxide Battery Pack
    • Lithium Titanate Battery Pack
  • Cell Type

    • Cylindrical Li-Ion Battery Pack
    • Prismatic Li-Ion Battery Pack
    • Pouch Li-Ion Battery Pack
  • Nominal Voltage

    • Less than 12V Li-Ion Battery Pack
    • 12V Li-Ion Battery Pack
    • 24V Li-Ion Battery Pack
    • More than 24V Li-Ion Battery Pack
  • Battery Capacity

    • >20 kWh Li-Ion Battery Pack
    • 30-60 kWh Li-Ion Battery Pack
    • 60-80 kWh Li-Ion Battery Pack
    • More than 80 kWh Li-Ion Battery Pack
  • End Use

    • Automotive Li-Ion Battery Pack
      • BEV
      • PHEV
      • HEV
    • Consumer Electronics Li-Ion Battery Pack
      • Laptops
      • Digital Camera
      • AIDC
      • Others
    • Medical Devices Li-Ion Battery Pack
    • Industrial & Grid Energy Li-Ion Battery Pack

After reading the Li-Ion Battery Pack Market report, readers can:

  • Understand the drivers, restraints, opportunities and trends affecting the growth of the global .
  • Analyze key regions holding significant share of the total Li-Ion Battery Pack Market revenue.
  • Study the growth outlook of the global Li-Ion Battery Pack Market scenario, including production, consumption, history and forecast.
  • Learn consumption pattern and impact of each end use on the Li-Ion Battery Pack Market growth.
  • Investigate the recent R&D projects performed by each Li-Ion Battery Pack Market player.

The Li-Ion Battery Pack Market report answers important questions which include:

  • What does the status of the Li-Ion Battery Pack Market look?
  • Li-Ion Battery Pack Market look like after the forecast period?
  • Which region has the highest contribution to Li-Ion Battery Pack Market Devices  why?
  • Which players remain at the top of the Li-Ion Battery Pack Market look?
  • What opportunities are available for the Li-Ion Battery Pack Market players to expand their production footprint?
  • Which segment has the maximum impact on Li-Ion Battery Pack Market?

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