Dublin, May 10, 2022 (GLOBE NEWSWIRE) -- The "Global Lithium-ion Battery Market, Size, Forecast 2022-2027, Industry Trends, Growth, Impact of COVID-19, Opportunity Company Analysis" report has been added to ResearchAndMarkets.com's offering.
The Global Lithium-Ion Battery Industry is anticipated to reach US$ 105.35 Billion in 2027. Lithium-Ion Battery, a rechargeable battery, is an advanced battery technology that uses lithium ions as a significant component of its electrochemistry. Li-ion battery has a very high voltage and charges storage per unit mass and volume compared to other batteries.
Additionally, Lithium-Ion Battery exhibits low self-discharge, high energy density, and extending lifetime with improved charging speed. Besides, the market for lithium-ion batteries, the subsequent increase in the registration of EVs and a decrease in price of lithium-ion batteries are boosting the market.
Global Lithium-Ion Battery Industry is expected to expand at a CAGR of 14.6% during 2021-2027
Current rapid advancements in lithium-ion (Li-ion) battery costs and performance, coupled with expanding demand for electric vehicles (EVs) and boosted renewable energy generation, have unleashed enormous investments in the advanced battery technology ecosystem.
Further, the investments are expected to push Lithium-ion battery technologies across competitive thresholds for applications more quickly than anticipated. Remarkably, in turn, reducing the costs of decarbonization in crucial sectors and speeding the global energy evolution beyond the anticipations of mainstream global energy models.
Components Is Likely to Continue to Diverge in Terms of the Types:
Our report covers cathode, anode, and electrolytic solutions as components in Lithium-Ion Battery Market. As per our analysis, components studied are likely to diverge in terms of the types of cathodes, anodes, and electrolytes used. Besides, these various approaches are pursuing improvements across several areas in the industry. Remarkably, Lithium-ion batteries' scaling pathway is unlike silicon photovoltaic cells. As investment in Li-ion expands, companies are seeking different battery chemistry compositions with widely varying performance attributes. According to the publisher, Global Lithium-Ion Battery Market Size was US$ 46.43 Billion in 2021.
Lithium-Ion Battery Market - By Product Type & End User Analysis:
Globally, By Product Type, Lithium Cobalt Oxide (LCO), Lithium Iron Phosphate (LFP), Lithium Nickel Cobalt Aluminum Oxide (NCA), Lithium Manganese Oxide (LMO), Lithium Titanate, and Lithium Nickel Manganese Cobalt are well positioned in the market to enable high penetration and fast charging of end-users like electrical & electronics, automotive and industries. Besides, the diversifying applications are creating substantial market opportunities for lithium-ion batteries. Remarkably, Lithium-ion batteries are utilized in the global fleet of end-users like electrical & electronics, automotive and industries recently are trending as part of the transition towards a clean energy system.
Regional Realms: Asia-Pacific controls the Lithium-Ion Battery Market
Globally, the continuing electrification of the energy system for the clean energy transition maintains the growth in lithium-ion battery demand. Asia-Pacific holds the lion's share. Further, as per our analysis, the annual demand for lithium-ion batteries and energy storage may be approximately ten times higher than it is today in the region. Similarly, Europe also represents a sizeable lithium-ion market. The ever-growing sales of electric cars tend to boost the lithium-ion battery industry in the region. Europe is expected to have the adequate manufacturing capacity to meet domestic demand in the near term. Moreover, the market expansion will largely depend on (foreign) investment and a few significant players.
Key Market Players:
The key market players include BYD Company Ltd., Samsung SDI Company Limited, GS Yuasa Corporation, Johnsons Controls Inc., Exide Technologies. Massive investments in lithium-ion battery manufacturing and steady advances in technology have set in motion a seismic shift powering the global lives and organizing energy systems. Moreover, the key players analyze that the global ecosystem will emerge over the forecasted years to deliver a foundation for rapid innovation and scaling of new technologies. In addition, fast-changing infrastructure with massive expansion enables meeting the needs of a rapidly growing market.
COVID-19 Restrictions on Global Lithium-Ion Battery Industry:
The COVID-19 restrictions harmed raw materials such as lithium-ion, which witnessed a significant demand drop for lithium-ion batteries in 2020, thus, adversely affecting the lithium-ion battery market globally. For automotive and battery makers, there was challenging to retain control of the battery demand to squeeze out as much value as attainable without losing value in unnecessary transactions. However, in 2021, the lithium-ion batteries market represented some clear recovery patterns for lithium-ion batteries with room for innovation and change.
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
4.2 Challenges
5. Lithium-Ion Battery Market
6. Market Share - Lithium-Ion Battery Market
6.1 By Components
6.2 By Product Type
6.3 By End User
6.4 By Region
7. Components - Lithium-Ion Battery Market
7.1 Cathode
7.2 Anode
7.3 Electrolytic Solution
7.4 Others
8. Product Type - Lithium-Ion Battery Market
8.1 Lithium Cobalt Oxide (LCO)
8.2 Lithium Iron Phosphate (LFP)
8.3 Lithium Nickel Cobalt Aluminum Oxide (NCA)
8.4 Lithium Manganese Oxide (LMO)
8.5 Lithium Titanate
8.6 Lithium Nickel Manganese Cobalt
9. End User - Lithium-Ion Battery Market
9.1 Electrical & Electronics
9.2 Automotive
9.3 Industrial
9.4 Others
10. Region - Lithium-Ion Battery Market
10.1 North America
10.2 Europe
10.3 Asia Pacific
10.4 Rest of the Worl
11. Porters Five Forces
11.1 Overview
11.2 Bargaining Power of Buyers
11.3 Bargaining Power of Suppliers
11.4 Degree of Competition
11.5 Threat of New Entrants
11.6 Threat of Substitutes
12. Company Analysis
12.1 BYD Company Ltd.
12.1.1 Overview
12.1.2 Recent Development
12.1.3 Financial Insight
12.2 Samsung SDI Company Limited
12.2.1 Overview
12.2.2 Recent Development
12.2.3 Financial Insight
12.3 GS Yuasa Corporation
12.3.1 Overview
12.3.2 Recent Development
12.3.3 Financial Insight
12.4 Johnsons Controls Inc.
12.4.1 Overview
12.4.2 Recent Development
12.4.3 Financial Insight
12.5 Exide Technologies
12.5.1 Overview
12.5.2 Recent Development
12.5.3 Financial Insight
For more information about this report visit https://www.researchandmarkets.com/r/olfnft
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