What is the structure of the global Lithium-ion Battery market and who are the key players?

Posted on 2022-07-05 by researchinsights in Energy // 0 Comments

San Francisco, California , USA, July 05, 2022 — /EPR Network/ —

Lithium-ion Battery Industry Overview

The global lithium-ion battery market size is expected to reach USD 182.53 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 18.1% from 2022 to 2030. The market is expected to witness significant growth over the forecast period on account of the increasing consumption of rechargeable batteries in consumer electronics and a rise in the adoption of electric vehicles. The rising sales of electric vehicles, along with the expanding renewable energy sector, are expected to drive the market. The emergence of integrated charging stations, green power-generation capability, eMobility providers, battery manufacturers, and energy suppliers is anticipated to stimulate market growth in the coming years.

Increasing sales of electric vehicles in the U.S. owing to supportive federal policies, coupled with the presence of market players in the country, are expected to drive the demand for lithium-ion batteries in the U.S. over the forecast period. Favorable government policies for infrastructural developments at the domestic level through the National Infrastructural Plan (NIP) of the U.S. are expected to promote the growth of the market in the U.S. over the forecast period. Development of the automotive industry in Indonesia, Vietnam, Mexico, Thailand, and India is expected to drive the industry. The growing inclination toward pollution-free HEVs and EVs, along with technological developments, is expected to drive the lithium-ion battery demand over the forecast period. China is expected to witness high gains in light of energy storage technologies and favorable government support to promote investments in the manufacturing sector.

Lithium-ion Battery Market Segmentation

Grand View Research has segmented the global lithium-ion battery market on the basis of product, application, and region:

Based on the Product Insights, the market is segmented into 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 (LMC).

The LCO segment accounted for the largest revenue share of over 30.0% in 2021. High demand for LCO batteries in mobile phones, tablets, laptops, and cameras on account of their high energy density and high safety level is expected to augment the market growth over the forecast period.
Rising demand for NCA on account of its high specific energy, specific power, and long lifespan is expected to augment the market growth over the forecast period. NCA finds use in EV vehicles, medical devices, and industrial applications.

Based on the Application Insights, the market is segmented into Automobile, Consumer Electronics, Industrial, Energy Storage Systems and Medical Devices.

The consumer electronics segment held the largest revenue share of over 40.0% in 2021. Portable batteries are incorporated in portable devices and consumer electronic products.
Lithium-ion batteries are also utilized for providing backup power supply for commercial buildings, data centers, and institutions. In addition, lithium-ion battery is preferred for energy storage in residential solar PV systems. These factors will boost the growth of the energy storage systems application segment in the forecast period.

Lithium-ion Battery Regional Outlook

North America
Europe
Asia Pacific
Central & South America
Middle East & Africa (MEA)

Key Companies Profile

The market is extremely competitive with key participants involved in R&D and constant product innovation. Several companies are engaged in new product development to improve their global market share.

Some prominent players in the global Lithium-ion Battery market include

BYD Company Ltd.
Duracell Inc.
Hitachi, Ltd.
Johnson Controls
LG Chem
Panasonic Corporation
Renault Group
Samsung SDI Co., Ltd.
Tesla
TOSHIBA CORPORATION

Order a free sample PDF of the Lithium-ion Battery Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Matched content

Editor’s pick