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November 20, 2018: Adroit Market Research published a study titled, “Global Lithium-ion Battery Market Size 2017 By Type (Lithium-Cobalt Oxide Battery, Lithium-Iron Phosphate Battery, Lithium Nickel Manganese Cobalt Oxide Battery, Lithium-Manganese Oxide Battery, Lithium Nickel Cobalt Aluminum Oxide, Lithium-Titanate Battery), By Application (Automotive, Grid Energy Storage, Consumer Electronics, Others), By Region, Trend and Forecast 2018 to 2025”. The global lithium-ion battery market report covers qualitative insights of the industry such as drivers, restrains, opportunities, value chain, Porter’s Five Forces analysis and PESTEL analysis. The objective of the report is to present a detailed analysis of the lithium-ion battery market outlook for different regions.
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Additionally, the report has also analyzed the top 10 lithium-ion battery manufacturers operating globally. The report includes the global lithium-ion battery market growth and estimates (value and volume) for a period ranging between 2015 to 2025, where 2015 to 2017 (historic years) reflect the actual battery demand across different applications with forecast between 2018 and 2025.
The global lithium-ion battery market size is estimated to be valued over USD 100 billion by 2025. The global lithium-ion battery market growth is majorly attributed to rising demand for electric vehicles, consumer electronics, and energy storage solutions globally. Easy availability, high energy density, low-discharge rates and long life cycle are some of the key features which makes lithium-ion batteries preferable over its counterparts and expected to foster the product demand during the forecast period.
Increasing investments in energy efficient technologies such as the renewable sector is one of the key factor driving the lithium-ion battery market growth. For instance, in Netherlands, the Energy Investment Allowance (EIA) scheme encourages such investments by offering the investors benefits such as tax deductions on the invested amount. On an average the EIA, commissioned by the Ministry of Economic Affairs and Climate Policy, offers a 13.5% tax advantage. Shift towards renewable energy sources reduces the need to import electricity and optimizes energy demand and supply. According to the International Renewable Energy Agency (IRENA), battery storage in stationary applications is expected to grow at least 17-fold by 2030. Increasing stationary energy storage applications along with spurring demand for electric vehicles (EVs), especially among developing countries such as China, is expected to fuel the lithium-ion battery installations in the coming years.
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In 2017, consumer electronics accounted for more than 40% of the global lithium-ion battery market share. As per a recent survey, global consumer electronics user penetration is 26.4% in 2018 and is projected to rise to 34.1% by 2022. The consumer electronics market is continuously evolving owing to constant technological advancements by the players across the globe. Additionally, manufacturers are reinventing and introducing innovations in these categories to enhance sales and drive higher margins. This has led to the improved sales of mature products such as LCDs, TVs and laptops on the back of rising digital consumers, thus, acting as a key factor driving the growth of consumer electronics segment.
North America is projected to be second largest region for lithium-ion battery market over the forecast period. Increasing investments by key players towards the research & development of electric vehicles (EVs) is set to surge the overall product demand in the coming years. Strict regulatory standards for CO2 emissions, favourable government policies for adoption of electric vehicles such as tax rebate, financial incentives, lowers the up-front costs of plug-in electric vehicles in this region. Thus, aforementioned factors are responsible for the growth of the North American lithium-ion battery market. However, Asia Pacific is expected to grow with a rapid CAGR majorly due to widespread expansion of residential and commercial projects majorly in Southeast Asian economies such as India, China, etc.
The global lithium-ion battery market is highly fragmented owing to the presence of several players. Typically, majority of the players cater to their local market with strategy of rapid expansion overseas. Some of the top 10 lithium-ion battery manufacturers include, LG Chem, Samsung SDI, and Johnsons Controls having a broader presence within the global market.
Key segments of the global lithium-ion battery market
Type Overview, 2015-2025 (MWh, USD Million)
Lithium Cobalt Oxide Battery
Lithium-Iron Phosphate Battery
Lithium Nickel Manganese Cobalt Oxide Battery
Lithium-Manganese Oxide Battery
Lithium Nickel Cobalt Aluminium Oxide Battery
Lithium-Titanate Battery
Application Overview, 2015-2025 (MWh, USD Million)
Grid Energy Storage
Consumer Electronics
Regional Overview, 2015-2025 (MWh, USD Million)
North America
United Kingdom
Asia Pacific
South Korea
Central & South America
Middle East & Africa
Saudi Arabia
The report has analysed several players in the market, some of which include
• LG Chem Ltd.
• BYD Company Ltd.
• Johnson Controls
• Tesla Inc.
• GS Yuasa Corporation
• Toshiba Corporation
• Others
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