Selbyville, Delaware, May 04, 2020 (GLOBE NEWSWIRE) -- The global lithium-ion power battery market recorded a valuation of USD 44.8 billion in 2019 and is estimated to reach USD 51.3 billion by the end of 2020. The market is estimated to grow at a CAGR of 14.5 per cent through 2020, exceeding a remuneration of USD 100 billion by 2025. Fundamental features including the high energy density, high feasibility, long life cycle, and low discharge rates have been potentially driving the production adoption over the years.
This report also outlines information that may be beneficial for various semiconductor industry players and customers over the forecast period.
Also, a reliable report cites that the overall lithium-ion power battery matter rose from 48.5 GWh to 107 GWh over 2016-2018, with a CAGR of 50.96 per cent. The report further estimates the growth rate to be 52.5 per cent and 50.9 per cent in 2019 and 2020 respectively. The current spread of coronavirus outbreak is anticipated to massively influence the growth of lithium-ion power battery market. The industry o=is expected to depict a CAGR of 14.3% through 2025.
For the records, lithium-ion power battery is one of the high-energy batteries which constitutes negative and positive electrodes that are made of graphite and lithium cobaltate, lithium iron phosphate, and others respectively. Posing robust features like high energy, high battery voltage, long storage life, wide operating temperature range, and others, the product is being used in military and civilian small appliances worldwide.
As per estimates, the power lithium battery market size in 2019 was about USD 10.23 billion, exhibiting the growth rate of -11.8 per cent. The fall in power lithium battery sales could be attributed to its price which drastically felt by 15 per cent to 20 per cent annually.
Lithium-ion batteries are primarily used in the business space of new energy vehicles. According to statistics, 2019 recorded over 2.21 million energy vehicle sales, compared to 1.25 million units in 2018, with a CAGR of 75 per cent.
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Lithium-ion power battery market is bifurcated into anode materials including lithium iron phosphate power batteries, ternary lithium-ion power batteries, lithium manganate power batteries, and others. Lithium iron phosphate as a positive electrode material has a long lasting battery charge and discharge cycle life, but its production cost while the high and low temperature performance and energy density performance are insufficient.
Further, the ternary lithium-ion power batteries, have also gained massive traction across the global market owing to its twofold advantages of complete performance and cost. Besides, the sub-segment captures a business share of 65 per cent of the overall lithium-ion power battery market.
Amongst four pivotal materials that make up the overall power battery- positive, negative electrodes, electrolyte, and separator- positive electrode accounts for nearly 30 per cent while negative electrode, electrolyte, and separator account for over 6 to 8 per cent when material prices are relatively stable.
Geographical insights
Lithium-ion power battery industry is diversified into various geographies including China, Norway, Netherlands, U.K, France, Portugal, and others.
According to this report, China’s power battery shipments in 2019 were 71 GWh, depicting YoY increase of 9.2 per cent. However, compared to 2018, the growth rate has potentially decreased due to the decline in production and sales of new energy vehicles.
However, it has been estimated that China’s output of new energy vehicles by 2020 would reach to nearly 2 million while the sales of domestic new energy vehicles in 2019 reached 124,200. Although the state subsidies have fallen every year, double integral policy relay has become the development of China’s new energy vehicles power. Additionally, as the proportion of high end models are substantially rising in the country, the amount of electricity on bicycle would also increase to 104GWh by 2020.
The rate of lithium-ion power batteries installation in China has subsided from 91 per cent in 2016 to 88 per cent in 2019, which has currently slowed down. Also, the output value of top five prominent lithium-ion power battery industry players in 2018 accounted for 71.6 per cent while the market concentration further expanded. Moreover, CTAL and BYD captured significant shares of 21.5 per cent and 37.2 per cent respectively.
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Competitive landscape analysis:
Lithium-ion power battery industry is highly concentrated and boasts of the presence of well prominent leaders like Panasonic, CATL, LG Chem, and multiple others. The top five manufacturers capture a business share of 60 per cent, of which Panasonic and CATL seize highest market share accounting to 21.5 per cent and 22.6 per cent respectively.
Lithium-ion power battery market is fragmented on the basis of anode material types, applications, regions, and competitive landscape.
Lithium-ion Power Battery Market Anode Material Type Analysis (Revenue, USD million, 2015-2026)
- Ternary Lithium Ion
- Lithium Iron Phosphate
- Lithium Manganese Oxide
- Others
Lithium-ion Power Battery Market Applications Analysis (Revenue, USD million, 2015-2026)
- BEV
- HEV
- Aerospace and Defense
- Others
Lithium-ion Power Battery Market Regional Analysis (Revenue, USD million, 2015-2026)
- Norway
- China
- Netherlands
- UK
- France
- Portugal
- Germany
- Japan
- Others
Lithium-ion Power Battery Market Competitive Landscape Analysis (Revenue, USD million, 2015-2026)
- CATL
- Panasonic
- LG Chem
- BYD Company
- Samsung SDI
- AESC
- Gotion
- Lishen
- SK
- EVE Battery
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