The Report Lithium-Ion Battery Market Analysis By Product (Lithium Cobalt Oxide,
Lithium Iron Phosphate, NCA, LMO, LTO, Lithium Nickel Manganese Cobalt (NMC)),
By Application, And Segment Forecasts, 2018 - 2025
The global lithium-ion battery 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.
Access Research Report of Lithium-Ion
Battery Market @ https://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
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
·
Europe
·
Asia Pacific
·
Central & South America
·
Middle East & Africa
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.
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