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Market Summary

The Global Lithium-Ion Battery Market size is estimated to reach USD 124.42 billion by 2027 from USD 41.05 billion in 2019, delivering a CAGR of 13.4% through the forecast period. The market growth is driven by the rapid growth of hybrid and full battery electric vehicles along with a surging need for power, storage, and power backup across several end-use industries.

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Lithium-ion is a low maintenance battery that can be recharged hundreds of times and stays stable. Other benefits associated with the product include higher energy density, lower self-discharge rate, voltage capacity, and better power efficiency as compared to other battery types. The rapid proliferation of electric vehicles is generating heavy demand for lithium-ion batteries globally. The growing adoption of smart devices by the populace along with the automation of material handling equipment in industries is driving the demand for lithium-ion batteries for several industrial applications.

The growing acceptance of these batteries in equipment used in the medical sector, along with the rise in off-grid installations in India, China, Germany, and the U.S., will open major growth avenues for the lithium-ion battery industry. Moreover, a positive outlook toward clean energy-based mobility solutions and renewable energy generation technologies will supplement lithium-ion battery market trends over the forecast period.

On the basis of product, the lithium manganese oxide segment held 16.2% of the lithium-ion battery market share in 2019 and is anticipated to witness a notable CAGR of 13.8% over the analysis period.

The lithium cobalt oxide segment accounted for 18.2% of the lithium-ion battery industry revenue share in 2019 and is set to exhibit a major growth rate due to extensive application in cell phones, tablets, laptops, cameras, and other consumer electronic items.

The lithium nickel manganese cobalt segment is set to exhibit a growth rate of 12.3% through 2027 due to their lower cost, higher energy density, and longer cycle life, which makes it ideal for use in power tools, electric bikes, and other electric powering trains.

On the basis of power, the 3,000 to 10,000 mAH segment is anticipated to witness the fastest growth rate over the forecast period due to the expansion of the consumer electronics and smartphone market, generating heavy demand for high - powered batteries that can keep the device running for hours.

On the basis of application, the industrial application garnered revenue of over USD 11.3 billion in the market share in 2019 and is forecast to grow at 10.3% over the forecast period.

The consumer electronics segment held the largest market share of nearly 26.2%of the lithium-ion market in 2019 and is anticipated to showcase exponential growth due to continuous development in consumer electronics. The growing adoption of electronic devices such as cell phones, laptops, MP3 players, and GPS navigation systems will boost segmental growth through 2027.

In the regional landscape, Asia Pacific accounted for 33% of the lithium-ion market share in 2019 and is estimated to be a major regional ground for the industry due to the expansion of consumer electronics and EV industry in the region. Moreover, increasing production capacities for lithium-ion batteries in China, by numerous players such as Contemporary Amperex Technology Co., LG Chem, Panasonic, and the rise in government subsidies in for electric vehicles may boost the regional market growth.

The major players in the market are Samsung (South Korea), BYD (China), Sony (Japan), LG Chem (South Korea), Sanyo (Japan), ATLASBX Co. Ltd. (South Korea), Johnson Controls (U.S.), Exide Technologies (U.S.), Saft (France) and East Penn Manufacturing Co. (U.S.). These industry players are focusing on technology enhancement to attract a larger customer base. For instance,

Inverted Energy, an Indian startup in the field of lithium-ion battery technology, has launched its new range of lithium-ion batteries on August 31st, 2020, for electric vehicles, solar plants as well as home usage. These batteries reportedly have a microprocessor that uses advanced algorithms for offering optimum performance, requires less than half the time for charging and last up to 5 times more compared to other batteries in the market

On September 2nd, 2020, Tesla announced the 50% expansion of the facility at South Australia, which is the world's largest lithium-ion battery facility, is now fully operational and has increased its potential output by 50 MW.

Segments Covered in the report:

This report forecasts volume and revenue growth at a global, regional, and country level, and provides an analysis of the industry trends in each of the sub-segments from 2017 to 2027. For the purpose of this study, Reports and Data has segmented the market on the basis of product, applications, power, and region.

Product (Thousand, Units and Revenue, USD Million; 2017-2027)

Lithium Cobalt Oxide (LCO)

Lithium Iron Phosphate (LFP)

Lithium Nickel Cobalt Aluminum Oxide (NCA)

Lithium Manganese Oxide (LMO

Lithium Titanate

Lithium Nickel Manganese Cobalt

Power (Thousand, Units and Revenue, USD Million; 2017-2027)

0 to 3000mAh

3000mAh to 10000mAh

10000mAh to 60000mAh

Application (Thousand, Units and Revenue, USD Million; 2017-2027)

Automotive

Consumer electronics

Industrial

Energy Storage Systems

Regional Outlook (Thousands, Units and Revenue, USD Million; 2017-2027)

North America

U.S.



Canada

Europe

Germany



France



U.K.



Italy



Spain



Rest of Europe

Asia Pacific

China



India



Japan



Rest of APAC

Latin America

Brazil



Rest of LATAM

Middle East & Africa