New York, NY, Nov. 10, 2020 (GLOBE NEWSWIRE) -- Facts and Factors have published a new research report titled “Lithium Ion Battery Market By Type [Lithium Cobalt Oxide (LCO), Lithium Nickel Cobalt Aluminum Oxide (NCA), Lithium Titanate Oxide (LTO), Lithium Iron Phosphate (LFP), Lithium Nickel Manganese Cobalt (LI-NMC), and Lithium Manganese Oxide (LMO)], By Power Capacity (60,000 mAH & Above, 10,000–60,000 mAH, 3,000–10,000 mAH, and 0–3,000 mAH), By Industry (Automotive, Industrial, Aerospace & Defense, Medical, Consumer Electronics, Power, and Marine), And By Region: Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026”.
According to the research study, the global Lithium Ion Battery Market was estimated at USD 30 billion in 2019 and is expected to reach USD 80 billion by 2026. The global Lithium Ion Battery Market is expected to grow at a compound annual growth rate (CAGR) of 15% from 2020 to 2027.
Global Lithium-Ion Battery Market Growing On The Back Of Growing Emphasis On Electric Vehicles And Use Of Lithium-Ion Battery In Vehicle Production Line At Multiple Stages
Lithium-ion battery is a rechargeable battery with advanced technology that uses lithium ions as a key component in electrochemistry. These batteries are used in portable electronics applications and electric vehicles and are now increasingly used in aerospace and military applications. No scheduled cycling is required for a lithium-ion battery to prolong its life and as compared to nickel-cadmium, the self-discharge of lithium-ion battery is less than half which makes it suitable for modern fuel gauge application. However, the lithium-ion battery is fragile and to maintain the operation of the battery it requires protection to the circuit as it virtually eliminates the possibility of occurring metallic lithium plating.
Browse through 28 Tables & 92 Figures spread over 195+ Pages and in-depth TOC on “Global Lithium Ion Battery Market: Industry Size, Share, Demand, Trends, Growth, Analysis, and Forecasts, 2020–2026”.
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Lithium-ion batteries are used in consumer electronics and are being increasingly used in portable consumer electronics due to its safety levels and high energy density. Apart from consumer electronics, the automotive sector holds a major application of lithium-ion batteries to power electric vehicles. Lithium-ion batteries have the right mix of cost, weight, performance, and size which makes them the right choice for electric vehicles. LG Chem works on research and development of differentiated materials for mobile and automotive batteries. The energy solution division of LG Chem integrates the latest technology in mobile, automotive, and energy storage system batteries. LG Chem mobile batteries division works on delivering polymer, cylindrical, prismatic batteries for mobile devices, electric bicycles, smartwatches, and electric tools.
The market is driven by the growing demand for smartphones and electronic devices globally along with the growing market of electric vehicles. Strict government regulations due to the growing pollution levels are anticipated to boost the electric vehicles market which is anticipated to create a significant demand for lithium-ion batteries. However, the high price of lithium-ion batteries is anticipated to restrain market growth. Also, increasing demand for other kind s of batteries such as flow battery, lead-acid, lithium-air, and sodium nickel chloride batteries in consumer electronics, energy storage systems, and electric vehicles is anticipated to hamper the market growth in the upcoming years. Nevertheless, technologically upgraded consumer goods and gadgets with high energy efficiency requirements are anticipated to create new opportunities for the key players.
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Top Market Players
Some of the leading and top companies in the global Lithium Ion Battery market include Hitachi Chemical Co Ltd., TESLA Inc., Lithium Werks, ProLogium Technology Co. Ltd., LG Chem Ltd., EaglePicher Technologies LLC, Energus Power Solutions Ltd., Panasonic Corporation, A123 Systems LLC, Duracell Inc., Toshiba Corporation, Envision (AESC), Samsung SDI Co. Ltd., Saft Batteries, BYD Co Ltd., GS Yuasa Corporation, and Koninklijke Philips N.V. among others.
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Based on type, the global Lithium Ion Battery market can be segmented into LCO, LTO, LI-NMC, NCA, LFP, and LMO with the 'LCO' category having the leading market share of about 18 percent. Based on power capacity, the market is being bifurcated into 60,000 mAH and above, 10,000–60,000 mAH, 3,000–10,000 mAH, and 0–3,000 mAH. The ‘3,000–10,000 mAH’ category in power capacity segmentation is anticipated to grow at the highest rate in the forecast period. Based on industry, the market can be segmented into automotive, industrial, aerospace and defense, medical, consumer electronics, power, and marine.
Lithium Cobalt Oxide (LCO) witnessed considerable growth in the global lithium ion battery market in 2019
Lithium cobalt oxide (LCO) batteries are usually equipped in mobile phones, digital cameras, laptops, and other similar electronic gadgets. Due to the remarkable sales of smartphones and gadgets in the past few years along with a significant drop in the market price of these gadgets, the LCO battery segment held the leading position in the global industry. However, the lithium nickel manganese cobalt (Li-NMC) battery segment is projected to grow at a furious rate during the study timeframe owing to the high energy density of the batteries. The Li-MNC batteries are suitable for electric vehicles, construction machines, advanced medical equipment, and renewable storage systems.
The global lithium ion battery market share is expanding splendidly owing to the extensive usage of consumer electronics goods across the globe, which ultimately fuels the demand for lithium ion batteries. The lithium ion batteries are installed in a wide range of electronic items ranging from as small as a hand torch light to as large as an electric bus. The implementation of stringent government regulations to combat carbon emissions coupled with the subsidies & tax incentives for the adoption of renewable energy will surge the global lithium ion battery industry growth.
Browse the full “Lithium Ion Battery Market By Type [Lithium Cobalt Oxide (LCO), Lithium Nickel Cobalt Aluminum Oxide (NCA), Lithium Titanate Oxide (LTO), Lithium Iron Phosphate (LFP), Lithium Nickel Manganese Cobalt (LI-NMC), and Lithium Manganese Oxide (LMO)], By Power Capacity (60,000 mAH & Above, 10,000–60,000 mAH, 3,000–10,000 mAH, and 0–3,000 mAH), By Industry (Automotive, Industrial, Aerospace & Defense, Medical, Consumer Electronics, Power, and Marine), And By Region: Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026" report at https://www.fnfresearch.com/global-lithium-ion-battery-market-by-type-lithium-795
The global lithium ion battery market research report delivers an acute valuation and taxonomy of the global lithium ion battery industry by practically splitting the market on the basis of different types, power capacities, industries, and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026.
The Asia Pacific lithium ion battery market is projected to grow at a substantial CAGR during 2020–2026
In 2019, the Asia Pacific region held the dominating position in the global lithium ion battery market. As the electric vehicle, power, and industrial sectors are shifting their energy source from coal or gasoline to electric at a rapid pace, the regional market is witnessing tremendous growth in the coming years.
In terms of geography, among regions such as North America, Europe, Latin America, and Middle East & Africa, the Asia Pacific region held a prominent market share of around 33 percent and is anticipated to grow with the fastest CAGR in the forecast years.
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This report segments the global lithium ion battery market as follows:
Global Lithium Ion Battery Market: Type Segmentation Analysis
- Lithium Cobalt Oxide (LCO)
- Lithium Nickel Cobalt Aluminum Oxide (NCA)
- Lithium Titanate Oxide (LTO)
- Lithium Iron Phosphate (LFP)
- Lithium Nickel Manganese Cobalt (LI-NMC)
- Lithium Manganese Oxide (LMO)
Global Lithium Ion Battery Market: Power Capacity Segmentation Analysis
- 60,000 mAH and above
- 10,000–60,000 mAH
- 3,000–10,000 mAH
- 0–3,000 mAH
Global Lithium Ion Battery Market: Industry Segmentation Analysis
- Automotive
- Industrial
- Aerospace and Defense
- Medical
- Consumer Electronics
- Power
- Marine
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