New York, NY, Sept. 15, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Lithium-Ion Battery Market by Power Capacity Segment, Lithium-Ion Battery Market Has Been Segmented Into 5–25 WH, 48-95 WH, 18–28 KWH, 100–250 KWH And More Than 300 KWH for Include Automotive, Aerospace and Defense, Consumer Electronics, Industrial And Others Application - Global Industry Perspective, Comprehensive Analysis and Forecast, 2016 – 2022”. According to the report, global lithium-ion battery market was valued at around USD 31.17 billion in 2016 and is expected to generate revenue of USD 67.70 billion by end of 2022, growing at a CAGR of slightly above 13.70% between 2017 and 2022.
A lithium-ion battery or Li-ion battery is a rechargeable battery wherein lithium ions move from the cathode to the anode during discharge and back when charging. Li-ion batteries use an intercalated lithium compound as one electrode material, compared to the metallic lithium used in a non-rechargeable lithium battery. Lithium-ion batteries are mostly used for consumer or home electronics. They are one of the most popular types of rechargeable batteries for portable electronics, with a tiny memory effect, high energy density, and low self-discharge. LIBs are also growing in popularity for military, battery electric vehicle and aerospace applications.
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The increase in demand for electric vehicle and smart devices and other consumer electronics are anticipated to boost the lithium-ion battery market over the forecast period. Strict Government regulations to control increasing pollution are likely to trigger the market for a lithium-ion battery. However, the fluctuating price of lithium-ion batteries may hamper the market. Nonetheless, increasing use of new technologies in lithium-ion batteries is likely to provide lucrative growth opportunities in the forecast period.
On the basis of type, the lithium-ion battery market segmented into lithium nickel manganese cobalt (LI-NMC), lithium iron phosphate (LFP), lithium cobalt oxide (LCO), lithium titanate oxide (LTO) lithium manganese oxide (LMO), and lithium & nickel cobalt aluminum oxide (NCA). Lithium nickel manganese cobalt (LI-NMC) is one of leading segment of lithium-ion battery. This type of batteries is used in application areas like e-bikes, power tools, medical equipment, and other electric powertrains. LFP battery is also called Lithium iron phosphate (LiFePO4) battery. Based on power capacity segment, lithium-ion battery market has been segmented into 5–25 Wh, 48-95 Wh, 18–28 KWh, 100–250 KWh and More than 300 KWh. Low power lithium-ion battery (5-25 Wh) segment is one of the leading segments of lithium-ion battery market and accounted for over 32% of the total market in 2016. 18-28 KWh segment is another key outlet of the market and expected to exhibit significant growth within the forecast period.
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Some of the key applications of the lithium-ion battery include automotive, aerospace and defense, consumer electronics, industrial and others. Consumer electronics application segment held the largest market share for the lithium-ion battery in 2016. This segment is expected to continue its dominance in the global market throughout the forecast period due to growing demand for low power capacity lithium-ion batteries to be used in smartphones and tablet. It is followed by automotive and industrial segments.
North America is one of the largest regional markets in the global lithium-ion battery market. Lithium-ion battery market is mainly driven by the rising demand for smartphones and other consumer electronics devices. The U.S. is the key region in North America and plays a major role in the development of the future lithium-ion battery. In 2016, U.S. accounted for over 72% share of the regional revenue in this market and is expected to witness significant growth owing to increasing electric vehicle demand with growing adoption of high-quality consumer electronics products.
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The Asia Pacific is one of the fastest growing regional markets for lithium-ion battery and accounted for over 45% share of the total market. Government organization provides funding supports to several research projects in this field. The Asia Pacific is expected to have significant growth during the years to come owing to strong demand for smartphones, tablets, and other mobile devices in the region. The intense growth in the electronics industry and continuous development in the automotive sector has led to increased application of lithium-ion batteries in this region. China, Japan, India, and South Korea are well positioned to enter the field of lithium ion battery.
Europe is expected to show moderate growth during the forecast period due to technological advancement, rising consumer goods industry and increased adoption of multi-core technology. The considerable economic growth of countries the such UK, Germany, and France is projected to drive the lithium-ion battery market in the years to come. Germany is expected to witness show robust growth due to the high adoption of electric vehicles coupled with increasing consumer awareness towards environmentally friendly technologies.
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In Latin America and the Middle East & Africa, lithium-ion battery market is in a nascent stage and expected to potential growth over the forecast period. Increasing application of rechargeable battery in various devices such as wearable devices, consumer electronics, packaging, and others are driving the growth of the lithium-ion battery market in this region. Consequently, both these regions are expected considerable growth with many growth opportunities.
Some of the key players in the lithium-ion battery include Panasonic Corporation, Hitachi Chemical Co. Ltd., BAK Group , Johnson Controls, Inc., Samsung SDI Co. Ltd., LG Chem Power, Inc., Toshiba Corporation., A123 Systems, LLC., Saft Groupe SA , GS Yuasa Corporation , Automotive Energy Supply Corporation (AESC), BYD Company Ltd., Valence Technology, Inc. and among others.
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This report segments the global lithium-ion battery market as follows:
Global Lithium-Ion Battery Market: Power Capacity Segment Analysis
- 5–25 Wh
- 48-95 Wh
- 18–28 KWh
- 100–250 KWh
- More than 300 KWh.
Global Lithium-Ion Battery Market: Application Segment Analysis
- Consumer electronics
- Automotive
- Aerospace and Defense
- Industrial
- Others
Global Lithium-Ion Battery Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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