Lithium-Ion Battery Market is Projected to Reach US$ 111.79 Billion in 2028

Lithium-Ion Battery Market is expected to reach US$ 111.79 Billion in 2028, growing at a CAGR of 15.2% during 2022- 2028, reports Stratview Research.

Raipur, Oct. 06, 2022 (GLOBE NEWSWIRE) -- Stratview Research, a leading market research firm has launched a report on the Lithium-Ion Battery Market which provides an in-depth analysis of the market dynamics, current and emerging trends, industry forecast, and competitive landscape.

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How is the Report Helpful?

The report has a very high utility for the key decision-makers and strategists in terms of accurate market insights, future growth opportunities, and key success factors.

Most importantly, the report analyses the possible impact of COVID-19 on the market dynamics which offers cushioning against the uncertain business environment and helps in streamlining the resources and investment decisions in a fruitful manner.

What are the Top Market Drivers?

According to the report, the Lithium-Ion Battery Market is driven by a host of factors, some of which are noted below:

  • The increasing demand for consumer electronic products.
  • Increasing adoption of lithium-ion batteries in the renewable energy sector and plug-in vehicles.

The report also includes growth rate estimates based upon the intensity of drivers and constraints and provides the users with several graphical illustrations of the key insights.

Lithium-Ion Battery Market Segmentation:

Stratview Research has segmented the market in the following ways which fulfill the market data needs of multiple stakeholders across the industry value chain.

  • By Material Type (Lithium Nickel Manganese Cobalt Oxide, Lithium Iron Phosphate, Lithium Cobalt Oxide, Lithium Titanate Oxide, Lithium Manganese Oxide, and Lithium Nickel Cobalt Aluminum Oxide)
  • By Product Type (Cell, Battery Pack)
  • By Voltage Type (Low (Below 12V); Medium (12-36V); and High (Above 36V))
  • By Power Capacity Type (0 to 3,000 MAH; 3,000 to 10,000 MAH; 10,000 to 60,000 MAH; and Above 60,000 MAH)
  • By Industry Type (Consumer Electronics, Automotive, Aerospace & Defense, Marine, Medical, Industrial, Power, and Telecommunication)
  • By Region (North America, Europe, Asia-Pacific, and Rest of the World)

Lithium-Ion Battery Market Insights

Market Trends by Material Type

The market is segmented as lithium nickel manganese cobalt oxide, lithium iron phosphate, lithium cobalt oxide, lithium titanate oxide, lithium manganese oxide, and lithium nickel cobalt aluminum oxide. The lithium nickel manganese cobalt oxide segment held the largest share of the market in 2019 and is expected to remain dominant during the forecast period.

The higher share of the segment is attributed to the growing demand for lithium nickel manganese cobalt oxide used in batteries of mobile phones, laptops, automotive, tablets, power tools, and electrical storage systems. In addition, the Lithium Cobalt oxide segment accounted for more than 28% market share in 2021.

Market Trends by Voltage Type

The market is segmented as low (below 12V); medium (12-36V); and high (above 36V). The high (above 36V) segment is estimated to remain the largest segment over the forecast period, owing to properties such as longer life and safety. Also, the largest contribution is attributed to the rising requirement for this voltage type in marine, electric vehicles, military, power, telecom, etc.

Market Trends by Power Capacity Type

The market is segmented as 0 to 3,000 MAH; 3,000 to 10,000 MAH; 10,000 to 60,000 MAH; and above 60,000 MAH. The 3,000 to 10,000 MAH segment contributed for the highest share in 2019, owing to growing need for batteries with higher power capacity that can keep the device running for long hours. The segment is expected to maintain its dominance during the forecast period as well.

Market Trends by Industry Type

The market is segmented as consumer electronics, automotive, aerospace & defense, marine, medical, industrial, power, and telecommunication. The automotive segment is likely to remain the largest segment during the forecast period driven by the growing adoption of electric vehicles.

In addition, the consumer electronics segment accounted for more than 38% market share in 2021.

Which region offers the best opportunity and growth?

Asia-Pacific market accounted nearly 39% share in 2021 and estimated to be the largest market for lithium-ion batteries during the forecast period. The Asia-Pacific’s market is expected to expand with a lucrative CAGR owing to the well-established consumer electronics market in the region, especially in China.

Further, the demand from the automotive industry in the region will also augment the regional growth. North America and Europe are also expected to offer considerable growth opportunities during the forecast period.

COVID-19 Impact on the Lithium-Ion Battery Market

COVID-19 has put an instant halt to many industries across the globe. Lockdown norms in several countries have swiftly affected the global economy by affecting the supply chain, production, and demand in the market. Both direct, as well as indirect impacts of the pandemic, have been incorporated in this report.

To know more about the covid-19 impact, get a free sample report, here:

Who are the Top Market Players?

After a thorough analysis of the market, the experts have listed a few key players and discussed company profiles of the below-given players -

  • BYD Company
  • LG Chem
  • Panasonic Corporation
  • Samsung SDI
  • BAK Group
  • GS Yuasa Corporation
  • Hitachi
  • Johnson Controls
  • Toshiba Corporation
  • Lithium Werks.

What deliverables will you get in this report?

  • In-depth analysis of the Lithium-Ion Battery Market
  • Detailed market segmentation.
  • Competitive-landscape analysis.
  • Historical, present, and future market size analysis.
  • Industry trends, technologies, and advancements.
  • Growth and operation strategies adopted by key players.
  • Potential segments/regions offering promising growth.
  • Geographical presence of the key players.

Related reports which might be useful:

  1. Battery Market
  1. Lithium-ion Battery Recycling Market

About us –

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