Global Lithium Ion Battery Market, By Type (Lithium Cobalt Oxide (LCO), Lithium Manganese Oxide (LMO), Lithium Nickel Manganese Cobalt Oxide (LI-NMC), Lithium Iron Phosphate (LFP), Lithium Nickel Cobalt Aluminum Oxide (NCA) and Lithium Titanate Oxide (LTO)), Component (Anode, Cathode, Electrolytic and Separator), Power Capacity (Below 3000 mAh, 3000 mAh to 10000 mAh, 10000 mAh to 60000 mAh and Above 60000 mAh), Product (Cell, Module, Pack and Energy Storage System (ESS)), Vertical (Automotive, Consumer Electronics, Aerospace and Defense, Industrial, Construction, Power, Telecom, Marine and Others) - Industry Trends and Forecast to 2029
Market Analysis and Size
Lithium ion battery has been in high demand in the past few years as it delivers high open-circuit voltage and a good energy-to-weight ratio. These batteries do not require scheduled cycling to enhance its service life. Lithium ion battery is utilized in numerous industry verticals, such as automotive and consumer electronics, among others.
Global Lithium Ion Battery Market was valued at USD 6.70 billion in 2021 and is expected to reach USD 26.28 billion by 2029, registering a CAGR of 18.62% during the forecast period of 2022-2029. Consumer electronics accounts for the largest vertical segment in the respective market owing to the high usage of batteries in electronic gadgets. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Lithium ion battery comprises of lithium ions which moves from negative electrode to the positive electrode through the electrolyte during charging and moves backwards at the time of charging. These batteries are rechargeable and commonly used in consumer electronics and automobiles. It consists of four components cathode, anode, separator and electrolyte. Anode helps in storing and releasing of lithium ions from cathode, enabling the pass of current through an external circuit.
Report Scope and Market Segmentation
2022 to 2029
2020 (Customizable to 2014- 2019)
Revenue in USD Billion, Volumes in Units, Pricing in USD
Type (Medical Robots, Drones, Cleaning Robots, Entertainment Robots, Education Robots, Personal/Handicap Assistant Robots, Public Relation Robots, Security and Surveillance Robots), End User (Commercial, Residential, Industrial)
U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA)
Market Players Covered
Type (Lithium Cobalt Oxide (LCO), Lithium Manganese Oxide (LMO), Lithium Nickel Manganese Cobalt Oxide (LI-NMC), Lithium Iron Phosphate (LFP), Lithium Nickel Cobalt Aluminum Oxide (NCA) and Lithium Titanate Oxide (LTO)), Component (Anode, Cathode, Electrolytic and Separator), Power Capacity (Below 3000 mAh, 3000 mAh to 10000 mAh, 10000 mAh to 60000 mAh and Above 60000 mAh), Product (Cell, Module, Pack and Energy Storage System (ESS)), Vertical (Automotive, Consumer Electronics, Aerospace and Defense, Industrial, Construction, Power, Telecom, Marine and Others)
Lithium Ion Battery Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
- High Demand for Consumer Electronics
The rise in demand for consumer electronics across the globe acts as one of the major factors driving the growth of lithium ion battery market. The penetration of portable variants, such as laptops, gaming consoles, smartphones, torches, and digital cameras, along with high-speed internet connectivity has a positive impact on the market.
- Demand for High-Quality Rechargeable Batteries
The increase in the demand for high-quality rechargeable batteries accelerate the market growth. Also, the usage of these electronics and use of lithium ion battery as an indispensable component of electric vehicles (EVs) drives the market.
- Sustainable Development
The rise in focus on sustainable development along with increase in awareness regarding the adverse effects of using traditional automobiles further influence the market. Various governments of numerous countries are implementing favorable initiatives to promote the sales of EVs.
Additionally, rapid urbanization, change in lifestyle, surge in investments and increased consumer spending positively impact the lithium ion battery market.
Furthermore, use of LIB as a crucial component in grid energy storage extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Also, increase in number of research and development initiatives by manufacturers for improvements in Li-ion batteries will further expand the market.
On the other hand, safety issues related to storage and transportation of spent batteries and high costs associated with battery-operated industrial vehicles are expected to obstruct market growth. Also, aging of lithium-ion batteries and issues with overheating of lithium-ion batteries are projected to challenge the lithium ion battery market in the forecast period of 2022-2029.
This lithium ion battery market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on lithium ion battery market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Lithium Ion Battery Market
COVID-19 had a negative impact on various industries including lithium ion battery market. Both public and government sectors suffered greatly due to the facing financial crises during the outbreak of COVID-19. Businesses were shut down in numerous countries because of the social distancing guidelines and the imposition of lockdown. The lithium ion battery industry faced huge problems due to the shortage of laborers declining the low production. A decline in the demand for lithium ion battery was witnessed owing to the limited production and shut down of industries, such as oil and gas sectors, among others. However, the lithium ion battery market is expected to witness growth in demand after the post-covid-19 situation.
- CATL and Daimler Truck AG announced the intensification of their existing partnership in May’2021. These are based on their shared vision of CO2-neutral electrified trucking. CATL will act as a supplier of lithium-ion battery packs for the Mercedes-Benz eActros LongHaul battery-electric truck. These trucks will be ready for series production in 2024.
Global Lithium Ion Battery Market Scope and Market Size
The lithium ion battery market is segmented on the basis of type, component, power capacity, product and vertical. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
- Lithium Cobalt Oxide (LCO)
- Lithium Manganese Oxide (LMO)
- Lithium Nickel Manganese Cobalt Oxide (LI-NMC)
- Lithium Iron Phosphate (LFP)
- Lithium Nickel Cobalt Aluminum Oxide (NCA)
- Lithium Titanate Oxide (LTO)
- Below 3000 mAh
- 3000 mAh to 10000 mAh
- 10000 mAh to 60000 mAh
- Above 60000 mAh
- Consumer Electronics
- Aerospace and Defense
Lithium Ion Battery Market Regional Analysis/Insights
The lithium ion battery market is analysed and market size insights and trends are provided by country, component, load carrying capacity, type, number of wheels, and verticals as referenced above.
The countries covered in the lithium ion battery market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Asia-Pacific (APAC) dominates the automated material handling equipment market due to the increased penetration of consumer electronics, increased demand for electric vehicles and rising purchasing power parity.
North America and Europe is expected to witness significant growth during the forecast period of 2022 to 2029 because of the increasing investment by the government for the development of the products in these regions.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Lithium Ion Battery Market
The lithium ion battery market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to lithium ion battery market.
Some of the major players operating in the lithium ion battery market are
- Saft (France)
- SAMSUNG SDI CO.,LTD. (South Korea)
- Lithium Energy Japan (Japan)
- Tianjin Lishen Battery Co., Ltd. (China)
- Shenzhen A&S Power Technology Co., Ltd. (China)
- LITHIUMWERKS (Europe)
- GlobTek, Inc. (US)
- BYD Company Ltd (Chiana)
- Panasonic Corporation (Japan)
- LG Chem (South Korea)
- VARTA Microbattery GmbH (Germany)
- Dalian CBAK Power Battery Co., Ltd (China)
- TOSHIBA CORPORATION (Japan)
- CALB USA Inc. (US)
- Shenzhen BAK Technology Co., Ltd. (China)
- Contemporary Amperex Technology Co., Limited (China)
- A123 Systems LLC (US)
- Amperex Technology Limited (China)
- XALT Energy (Switzerland)
- Leclanche (Switzerland)