logo
logo
Sign in

Lithium Ion Battery Market Gaining Traction from Automotive Industry

avatar
Vaishali Reddy
Lithium Ion Battery Market Gaining Traction from Automotive Industry

"Global lithium ion battery market size surpassed into the range of $40 billion in the year 2018, with the demand estimated to increment at a positive CAGR of 18% during the forecast period of 2019 to 2025."

 

Lithium ion battery (LIB) is significantly lighter than other kinds of batteries. Li-ion battery is used mostly in all the portable electronics such as laptops, cellphones, PDA, PSP. According to IndustryARC’s analysis, global lithium ion battery market size surpassed into the range of $40 billion in the year 2018, with the demand estimated to increment at a positive CAGR of 18% during the forecast period of 2019 to 2025. The report is titled “Lithium Ion Battery Market: By Material Type (Cathode, Anode, Electrolytic Solution, Others (Separator, Binder, Foils, & others)) By Application (Electronics, Automotive, Industrial, Others (Energy, Medical, & Military)) & Geography – Forecast (2019 - 2025).”This report also overs lithium ion battery market Size by material type and application, lithium ion battery market share by top 5 companies and also the market share by start-ups during the forecast period.

Global Lithium Ion Battery Market: Demand Analysis

LIB finds its application in various sectors such as electronics, automotive, industrial. Recent research by the analyst of IndustryARC determined that automotive is the leading application segment growing with a CAGR of 20% - 24% through to end period. After an acute analysis of the lithium ion battery regional markets, APAC is positioned as the leading marketplace due to the growth of automotive and electronics with a global market share ranging between 35%-40% as of 2018.

In LIB, lithium ion is discharged from negative to positive electrode and back when charging. LIB is a type of rechargeable batteries, requires low maintenance and have relatively low self-discharge property which makes LIB fastest growing and most capable battery even with powerful tools and software. Lithium cobalt is one of the most common Li-ions, and exhibits high specific energy, becomes a popular choice for electronics like mobile phones, laptops, and digital cameras.

View Full Table of Contents of Lithium Ion Battery Market:

https://www.industryarc.com/Report/15433/lithium-ion-battery-market.html

Report Price (Single User): US $3850

Global Lithium Ion Battery Market: Growth Drivers

Increasing demand for smartphones and other portable devices will automatically increase the demand for LIB. Aqueous lithium-ion batteries are less heavy, durable, and can be manufactured in different shapes hence these batteries have been a great interest for military use. LIB batteries are less flammable in nature that make them engaging for industries who prioritize safety over energy density, such as airplanes and submarines. The increased focus of the governments towards reducing greenhouse gas (GHG) emissions, the rise in the number of power outages, and the availability of manufacturers who provide lithium iron phosphate batteries at comparatively lower prices, are major factors that will drive LIB market growth.

Global Lithium Ion Battery Market: Disruptive Trends

Manufacturers are constantly improving lithium-ion with new enhanced chemical combinations to increase the battery aging life. Increasing demand for wearable devices can boost LIB market performance.

Global Lithium Ion Battery Market: Companies Innovation

Some of the major key players in the market are BYD Company, LG Chem, Panasonic, Samsung SDI, BAK Group, GS Yuasa, Hitachi, Johnson Controls, Toshiba, Lithium Werks, CALB, SaftGroupe, VARTA Storage, Farasis Energy, and Sila Nanotechnologies

BYD Company is always known for developing electric vehicles that are intelligent and connected. Recently BYD has created a broad range of internal combustion (IC), hybrid and a battery-electric passenger vehicle.

On June 2018 BYD Company inaugurated their largest 24GWhpower factory in a lithium-rich Chinese province. This will increase their total production capacity to 60GWh by 2020.

With an effort to accelerate the move to electric cars, Panasonic and Toyota paired up to produce prismatic lithium ion batteries. This initiative is expected to provide improved safety with less cost for smart cars.

Hitachi, Ltd. along with the Institute of Multidisciplinary Research for Advanced Materials of Tohoku University indicated successful development of a high safety prototype lithium-ion secondary battery (LIB). This product is capable of resisting increased capacity and energy density of LIB for consumer product and vehicles.

Sila Nanotechnologies find innovative chemistry to boost the LIB capacity by up to 70% using silicon. This material allows reducing anode thickness that in turn permit the battery to be charged as much as nine times as fast.
Lithium ion batteries are less heavy and rechargeable than any other batteries and therefore find its application in almost all industries mostly in smart watches, cellphones. Increased focus of the governments towards reducing greenhouse gas (GHG) emissions is one of the driving factors in LIB market. APAC is a developing region with high growth in automation electronics that makes this high market share holder for LIB market.

Talk to one of our sales representative about the full report by providing your details in the link below:

https://www.industryarc.com/support.php?id=15433

Related Reports:

A. Lithium Iron Phosphate (LFP) Batteries Market

https://www.industryarc.com/Report/15769/lithium-iron-phosphate-lfp-batteries-market.html

B. Automotive Battery Market

https://www.industryarc.com/Report/15291/automotive-battery-market.html

About IndustryARC:

IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to [email protected] to discuss more about our consulting services.

Media Contact:

Mr. Venkat Reddy

Sales Manager

Email: [email protected]

Contact Sales: +1-614-588-8538

collect
0
avatar
Vaishali Reddy
guide
Zupyak is the world’s largest content marketing community, with over 400 000 members and 3 million articles. Explore and get your content discovered.
Read more