Global Lithium Ion Battery Market 2019-2024: Focus on Consumer Electronics, Automotive, Medical, & Industrial Industries – Declining Prices of Lithium Ion Batteries Increase Adoption
DUBLIN: The “Lithium Ion Battery Market by Type (Li-NMC, LFP, LCO, LTO, LMO, NCA), power Capacity (0 to 3000mAh, 3000mAh to 10000mAh, 10000mAh to 60000mAh), Industry (Consumer Electronics, Automotive, Medical, Industrial), and Region – Global Forecast to 2024” report has been added to ResearchAndMarkets.com’s offering.
The lithium ion battery market estimated to grow at a CAGR of 16.2% from 2018 to 2024
The lithium ion battery market is estimated to grow from USD 37.4 billion in 2018 to USD 92.2 billion by 2024, at a CAGR of 16.2% between 2018 and 2024.
The growth of the lithium ion battery market is driven by an increase in demand for plug-in vehicles, growing need for automation and battery-operated material-handling equipment in industries, growing demand for smart devices and other industrial goods, and high requirement of lithium-ion batteries for various industrial applications. However, factors such as safety issues related to storage and transportation of spent batteries hinder the market growth.
Demand for lithium ion battery is growing as compared to other batteries in the global market. The growth of this market is propelled by the increase in demand for EVs, strict government mandates on fuel economy, growing demand for smart devices and other consumer electronics, and development toward the enhancement of lithium ion batteries. Further, the reduction in the price of lithium ion batteries is also encouraging automobile manufacturers to invest more in EVs.
The growth of the lithium ion battery market is driven by an increase in demand for plug-in vehicles, growing need for automation and battery-operated material-handling equipment in industries, growing demand for smart devices and other industrial goods, and high requirement of lithium-ion batteries for various industrial applications. However, factors such as safety issues related to storage and transportation of spent batteries hinder the market growth.
Need for high power and energy density has created a demand for reliable and safe batteries for industries such as automotive and consumer electronics. This stimulates the demand for different types of batteries that are made of a combination of lithium with other materials such as nickel, manganese, and cobalt. LCO and NMC are batteries mainly used in markets such as automotive and consumer electronics. This has led to a significant increase in the number of lithium ion batteries in various industries.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Lithium Ion Battery Market Opportunities
4.2 Lithium Ion Battery Market, By Type, 2018-2024
4.3 Lithium Ion Battery Market in APAC, By Type and Country, 2024
4.4 Lithium Ion Battery Market Size, By Industry, 2018-2024
4.5 Lithium Ion Battery Market, By Region, 2018-2024
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increase in Demand for Plug-In Vehicles
5.2.1.2 Growing Need for Automation and Battery-Operated Material-Handling Equipment in Industries
5.2.1.3 Growing Demand for Smart Devices and Other Industrial Goods
5.2.1.4 High Requirement of Lithium-Ion Batteries for Various Industrial Applications
5.2.2 Restraints
5.2.2.1 Safety Issues Related to Storage and Transportation of Spent Batteries
5.2.3 Opportunities
5.2.3.1 Declining Prices of Lithium Ion Batteries Increase Adoption in New Applications
5.2.3.2 Developing Application Within Energy Sector
5.2.4 Challenges
5.2.4.1 Overheating of Lithium Ion Batteries
5.2.4.2 Upcoming Technologies Such as Chemical Energy Storage, Compressed Energy Storage, and Pumped Hydro Technology
5.2.4.3 High Cost of Battery-Operated Industrial Vehicles
6 Industry Trends
6.1 Value Chain Analysis
6.2 Emerging Trends
6.2.1 Growth in E-Commerce Industry
6.2.2 Development of Battery-Operated Equipment for Mining Industry
6.2.3 Replacement of Conventional Batteries With Lithium-Ion-Based Batteries
6.3 Manufacturing Process of Lithium-Ion Battery
6.3.1 Electrode Coating
6.3.2 Cell Assembly
6.4 International Regulations for the Transportation of Lithium Ion Battery Packs
6.4.1 Responsibilities
6.4.2 Legislation
6.4.3 Exempt Products
6.4.4 Battery Tests
7 Materials Used in Lithium Ion Battery
7.1 Introduction
7.2 Cathode Material
7.2.1 Cathode Material for Lithium Ion Battery
7.2.1.1 Lithium Iron Phosphate (LFP)
7.2.1.2 Lithium Cobalt Oxide (LCO)
7.2.1.3 Lithium Nickel Manganese Cobalt (NMC)
7.2.1.4 Lithium Nickel Cobalt Aluminum (NCA)
7.2.1.5 Lithium Manganese Oxide (LMO)
7.3 Anode Material
7.3.1 Anode Material for Lithium Ion Battery
7.3.1.1 Natural Graphite
7.3.1.2 Artificial Graphite
7.3.1.3 Other Anode Materials
7.4 Electrolyte Material
7.5 Separator Material
7.6 Other Materials
8 Resources Used for Lithium Ion Battery
8.1 Introduction
8.2 Proven Reserves
8.2.1 Chile
8.2.2 China
8.2.3 Argentina
8.2.4 Australia
8.2.5 Others
8.3 Pricing Trend
8.4 Companies Exploring Lithium
8.4.1 Albemarle Corporation
8.4.2 Sqm
8.4.3 Jiangxi Ganfeng Lithium
8.4.4 Fmc
8.4.5 Tianqi Lithium
9 Lithium Ion Battery Market, By Type
9.1 Introduction
9.2 Lithium Nickel Manganese Cobalt (LI-NMC)
9.2.1 High Energy Density Boost the Demand for NMC Battery
9.3 Lithium Iron Phosphate (LFP)
9.3.1 High Power Density and Stability Boosts the Adoption of LFP Batteries
9.4 Lithium Cobalt Oxide (LCO)
9.4.1 High Energy Density Increases the Demand of LCO Batteries
9.5 Lithium Titanate Oxide (LTO)
9.5.1 High Stability, Energy and Power Density Expected to Create Demand for LTO Batteries
9.6 Lithium Manganese Oxide (LMO)
9.6.1 Cost Factor Boosts the Growth of LMO Batteries
9.7 Lithium Nickel Cobalt Aluminum Oxide (NCA)
9.7.1 High Energy Density of NCA Batteries Increases Its Demand in Automotive Industry
10 Lithium Ion Battery Market, By Power Capacity
10.1 Introduction
10.2 0 to 3,000 mAH
10.2.1 Holds the Largest Share of Lithium Ion Battery Market in 2017
10.3 3,000 to 10,000 mAH
10.3.1 Expected to Grow at the Highest CAGR Between 2018 and 2024
10.4 10,000 to 60,000 mAH
10.4.1 Market for Automotive Expected to Grow at the Highest Rate During the Forecast Period
10.5 More Than 60,000 mAH
10.5.1 Industrial Application Industry is Expected to Have the Highest CAGR During Forecast Period
11 Lithium Ion Battery Market, By Industry
11.1 Introduction
11.2 Consumer Electronics
11.2.1 Smartphones
11.2.1.1 to Meet the Need for Power Supply to Complex Smart Phone Devices, Manufacturers Depend on High-Power Lithium Ion Batteries.
11.2.2 UPS
11.2.2.1 Growing Need for Continuous and High-Quality Power Supply in Both Commercial and Industrial Sectors
11.2.3 Laptops
11.2.3.1 Demand for Reduced Size and High Power Requirement is Boosting Up the Need of Lithium Ion Batteries
11.2.4 Others (Games, Gardening Tools, and Drilling)
11.2.4.1 Lithium Ion Batteries Enable the Use of Other Equipment in Remote Areas
11.3 Automotive
11.3.1 Battery Electric Vehicles
11.3.1.1 Lithium Ion Batteries Provide High Thermal Stability, and are Safe to Be Used in Electric Vehicle
11.3.2 Plug-In Hybrid Electric Vehicles
11.3.2.1 Low Self-Discharge Rate, High Output and High Energy Density are Driving the Adoption of Lithium Ion Batteries in Hybrid Electric Vehicles
11.4 Aerospace and Defense
11.4.1 Commercial Aircrafts
11.4.1.1 Factors Such as Higher Cranking Voltage, No Oxidization, and Less Toxicity, is Driving the Lithium Ion Batteries for Commercial Aircrafts
11.4.2 Defense
11.4.2.1 Lithium Ion Batteries are Used in Equipment Like Handheld Radios, Thermal Imaging and Tactical in the Defense Industry.
11.5 Marine
11.5.1 Commercial
11.5.1.1 Use of Lithium Ion Batteries has Increased in Commercial Ships in Countries Such as China, Us, Finland and Others
11.5.2 Tourism
11.5.2.1 Lithium Ion Batteries are Lighter in Weight and Provide Higher Output Voltage Which Acts as A Driving Factor in Electric Boats
11.5.3 Defense
11.5.3.1 Lithium Ion Battery Technology is Used in Weapons Deployed on Defense Ships
11.6 Medical
11.6.1 Market for LCO to Hold the Largest Share During Forecast Period
11.7 Industrial
11.7.1 Mining Equipment
11.7.1.1 Mining Equipment Industry is Adopting Lithium Ion Battery Technology Considering the Safety Concern Over Lead Acid Batteries
11.7.2 Construction Equipment
11.7.2.1 High Energy Density and Longer Battery Backup Over Congenital Batteries Make Lithium Ion Batteries More Popular in This Segment
11.8 Power
11.8.1 Market in APAC Holds the Largest Share During Forecast Period
12 Lithium Ion Battery Market, By Region
13 Competitive Landscape
13.1 Introduction
13.2 Market Ranking Analysis, 2017
13.3 Competitive Leadership Mapping
13.3.1 Visionary Leaders
13.3.2 Dynamic Differentiators
13.3.3 Innovators
13.3.4 Emerging Companies
13.4 Strength of Product Portfolio (25 Players)
13.5 Business Strategy Excellence (25 Players)
13.6 Competitive Situations and Trends
14 Company Profiles
14.1 Key Players
14.1.1 BYD Company
14.1.2 LG Chem
14.1.3 Panasonic Corporation
14.1.4 Samsung SDI
14.1.5 Bak Group
14.1.6 GS Yuasa Corporation
14.1.7 Hitachi
14.1.8 Johnson Control
14.1.9 Toshiba Corporation
14.1.10 Lithium Werks
14.2 Other Prominent Players
14.2.1 Calb
14.2.2 Saft Groupe
14.2.3 Varta Storage
14.2.4 Farasis Energy
14.2.5 Sila Nanotechnologies
Source: Research and Markets
