The global li-ion battery packs market is projected to expand at a sluggish 2.7% CAGR during the assessment period between 2020 and 2030. According to the report, the coronavirus outbreak has negatively impacted the li-ion battery pack market, owing to raw material shortages with restrictions on transport and logistics, particularly those associated with mining operations. The massive impact of the outbreak on China, a major li-ion battery pack manufacturer is also expected to hurt short-term market prospects.
"Lithium-ion battery packs are increasingly finding key roles in the renewable energy sector for power storage purposes. Demand is expected to surge in the near future, supported by tech advancements in wind and solar energy sectors, and the implementation of favorable government policies," says the FACT.MR study.
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Li-ion Battery Packs Market- Key Takeaways
- Lithium, nickel, manganese, cobalt batteries are highly sought after owing to superior energy density, affordability, and longer life.
- Applications in consumer electronics is a major contributor to revenue, owing to high penetration of smartphone and laptop devices in multiple regions.
- Asia Pacific is a major, fast-growing market for li-ion battery packs, owing to large production share of companies operating in China.
Li-ion Battery Packs Market- Driving Factors
- Rising demand for electric automobiles and grid storage infrastructure are key growth factors.
- Declining costs of li-ion battery packs are critical to increasing adoption rates.
- Rising installation of off-grid and nuclear power facility installations generates demand for li-ion battery packs.
- Environment concerns associated with other battery types including cadmium and lead acid variants to bolster market prospects.
Li-ion Battery Packs Market- Key Restraints
- Performance issues from under- or overcharging li-ion batteries hurt adoption.
- Air transport of li-ion batteries are highly restricted, increasing transport and logistics costs.
COVID-19 Impact on Li-ion Battery Packs Market
China is one of the largest li-ion battery pack producers. Consequently, the impact of the outbreak on the country has had a major impact on supply chains. End user businesses and industries are seeking to diversify and create alternative sources. The temporary suspension on renewable energy projects and electric automobile production will hamper sales of li-ion batteries in the near term. Recovery is likely to be gradual with global economic uncertainties.
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Competitive Landscape
Market participants in the Li-ion battery packs market are pushing for strategic acquisitions, and collaborations to consolidate market presence. For example, Tesla has acquired SilLion for EV lithium ion battery packs for EV applications. Lithium Energy Japan Corp., LG Chem Ltd., Panasonic Corporation, and Samsung SDI are some of the major li-ion battery pack manufacturers.
About the Report
This study offers readers a comprehensive market forecast of the Li-ion battery packs market. Global, regional and country-level analysis of the latest industry trends impacting the Li-ion battery packs market is covered in this FACT.MR study. The report offers insights on the Li-ion battery packs market on the basis of product type (lithium cobalt oxide, lithium magnesium oxide, lithium iron phosphate, lithium nickel manganese cobalt oxide, lithium nickel cobalt aluminum oxide, and lithium titanate), cell type (cylindrical, prismatic, and pouch), nominal voltage (less than 12V, 12V, 24V, and more than 24V), battery capacity (>20 KWhr, 30 -60 KWhr, 60 - 80 KWhr, and more than 80 KWhr) and end use (automotive, consumer electronics, medical devices, and industrial & grid energy) across six regions (North America, Latin America, Europe, Japan, APEJ, and MEA).
Press Release: https://www.factmr.com/media-release/1512/lithiumion-battery-pack-market-trends
According to a new study of Fact.MR, sales of lithium-ion battery pack will exceed 151 Mn units in 2019, up from 131 Mn units in 2018.
Development of safe and reliable battery packs, in line with the surging power requirements from multiple applications is for to complement growth of lithium-ion battery pack market.The study states that, growing palpability of disruptive technologies, smart grid storage, electric vehicles, data centers, and others, is providing an impetus to growth of the lithium-ion battery pack market.
Additionally, rising dependency on electrochemical energy storage is fuelling investments in lithium-ion battery packs, as lithium ion battery is emerging as the ideal choice for electrochemical energy-storage.“Soaring sales of plug-in and electric vehicles is one among the key factors spurring adoption of lithium-ion battery packs, as lithium-ion batteries have become the ‘battery of choice’ among automakers worldwide.
Multiple advantages of a lithium-ion battery pack, such as high energy & power density, is making it outsell the conventional lead-acid variants”, says the Fact.MR report.Request For Sample Report- https://www.factmr.com/connectus/sample?flag=S_id=3120The battery industry is undergoing a sea change in line with increasing demand for battery technologies with superior capabilities.
As per the report, changes in cell-technologies and innovations in smart electronics are creating favorable grounds for adoption of li-on technology, driving growth of lithium-ion battery pack market.Lithium cobalt oxide to continue as the ‘top-selling’ lithium-ion battery pack variant, with global sales estimated to surpass 67 Mn units.
Skyrocketing demand for portable electronic devices is foreseen to fuel demand for lithium cobalt oxide types, as most of the lithium-ion battery packs used in portable applications are cobalt-based.The report opines that, the cylindrical cell type continues to be highly favored as compared to prismatic or pouch types, with global demand estimated to surpass 51 Mn units in 2019.
The global Lithium-Ion Battery Pack Market study presents an all in all compilation of the historical, current and future outlook of the Market as well as the factors responsible for such a growth.
With SWOT analysis, the business study highlights the strengths, weaknesses, opportunities and threats of each Lithium-Ion Battery Pack Market player in a comprehensive way.
Further, the Lithium-Ion Battery Pack Market report emphasizes the adoption pattern of the Lithium-Ion Battery Pack across various industries.
The lithium-ion battery pack market is likely to witness impressive growth at a value CAGR of over 12% during the assessment period.In this Lithium-Ion Battery Pack market study, the following years are considered to project the market footprint:History Year: 2014 - 2018Base Year: 2014Estimated Year: 2019Forecast Year: 2019 – 2028After reading the Lithium-Ion Battery Pack market report, readers can:Understand the drivers, restraints, opportunities and trends affecting the growth of the global Lithium-Ion Battery Pack market.Analyze key regions holding significant share of the total Lithium-Ion Battery Pack market revenue.Study the growth outlook of the global Lithium-Ion Battery Pack market scenario, including production, consumption, history and forecast.Learn consumption pattern and impact of each end use on the Lithium-Ion Battery Pack market growth.Investigate the recent R projects performed by each Lithium-Ion Battery Pack market player.Request for Sample Report with Statistical Info @ https://www.factmr.com/connectus/sample?flag=S_id=3120 The Lithium-Ion Battery Pack market report covers the following regions:North America (U.S., Canada)Latin America (Brazil, Mexico, Argentina, Rest of Latin America)Europe (Germany, Italy, France, U.K., Spain, Benelux, Russia, Rest of Europe)JapanAPEJ (China, India, Indonesia, Thailand, Singapore, Australia & New Zealand, Rest of Asia Pacific)MEA (GCC Countries, Turkey, Northern Africa, South Africa, Rest of Middle East & Africa)Global Lithium-Ion Battery Pack Market Segmentation Analysis:On the basis of product type, Lithium Cobalt OxideLithium Magnesium OxideLithium Iron PhosphateLithium Nickel Manganese Cobalt OxideLithium Nickel Cobalt Aluminium OxideLithium TitanateOn the basis of Cell Type,CylindricalPrismaticPouchBy Nominal Voltage,Less than 12V12V24VMore than 24VBy Battery Capacity,Less than 30 kWh30-60 kWh60-80 kWhMore than 80 kWhBy End Use Application, AutomotiveConsumer ElectronicsMedical DevicesIndustrial & Grid EnergyProminent Lithium-Ion Battery Pack market players covered in the report contain:BYD, Automotive Energy Supply Corporation (AESC), Contemporary Amperex Technology Co. Limited, (CATL), East Penn Manufacturing Co., Guoxuan High-Tech, Lishen Battery, Hoppecke Batterien GmbH & Co.
KG., Leoch International Technology Ltd., China Aviation Lithium Battery Co., Ltd (CALB), CBAK Energy Technology, Inc., Lithium Energy Japan, Wanxiang Import & Export Co., Ltd., Tianneng Power International Co., Ltd., Coslight Technology International Group Co., Ltd., EnerSys, Toshiba Corporation, and others.The behavior pattern of each player – new product launches, partnerships, and acquisitions – has been analyzed in the Lithium-Ion Battery Pack market report comprehensively.
In addition, the research encompasses the strengths, weaknesses, opportunities and threats of each Lithium-Ion Battery Pack market vendor in an in-depth manner.The Lithium-Ion Battery Pack market report answers important questions which include:What does the status of the Lithium-Ion Battery Pack market look like after the forecast period?Which region has the highest contribution to the global Lithium-Ion Battery Pack market and why?Which players remain at the top of the global Lithium-Ion Battery Pack market?What opportunities are available for the Lithium-Ion Battery Pack market players to expand their production footprint?Which segment has the maximum impact on the global Lithium-Ion Battery Pack market?What are COVID-19 implication on Lithium-Ion Battery Pack market and learn how businesses can respond, manage and mitigate the risks?Need more Information about Report Methodology @ https://www.factmr.com/connectus/sample?flag=RM_id=3120 Why Opt For Fact.MR?
The new report on the Lithium-Ion Battery Pack market provides estimations of the size of the global market and share and size of key regional markets during the historical period of 2013 – 2018.
According to the Fact.MR report, the lithium-ion battery pack market is likely to witness impressive growth at a value CAGR of over 12% during the assessment period.
The business intelligence study offers readers a granular assessment of key growth dynamics, promising avenues, and the competitive landscape of the Lithium-Ion Battery Pack market.
2013 is considered as the base year and 2028 as the estimation year.Request to View Sample of Report @ https://www.factmr.com/connectus/sample?flag=S_id=3120To offer a comprehensive assessment of opportunities, the study makes a scrutiny of growth prospects in various regions.
The key regions comprise the following geographical segments:North AmericaLatin AmericaEuropeJapanAPEJMEAThe detailed assessments focus on, inter alia, on the regulatory and macroeconomic frameworks, prevailing pricing structure, imminent investment pockets, and emerging application areas.
Taking the analysis further, the study helps readers get a better understanding of the trends characteristics of the emerging markets, including government regulations crucial to growth of such markets.
The new market report on Li-Ion Battery Pack is a comprehensive study providing analysis on factors trend and drivers contributing to growth of the Automotive Battery.
The report is prepared with reference to historic data .Estimation of contribution of segment is expressed in terms of volume and revenue for the forecast period.
Market analysis and future prospect is segmented in various sections.
Each sections focus on distinct features of the products that are anticipated to shape the market over the forecast period.Some of the common segments mentioned in the report include market overview, tends, drivers, opportunities, restraints, regional segment, end-use application, and competitive landscape.
The global revenues in Li-Ion Battery Pack market are projected to scale at a CAGR of 2.7% between 2020 and 2030 .Many stakeholders are consistently adopting new methodologies to boost growth of the market.
Few investors are investing on research and development of new products, on the other hand, various companies are innovating the existing products.Request to View Sample of Research Report @ https://www.factmr.com/connectus/sample?flag=S_id=3120In the wake of lockdown across various regions due to outbreak of COVID-19 pandemic, vendors in Li-Ion Battery Pack are focusing to enhance their customer reach using e-commerce channels.Some of the insights and market estimations that make this study unique in approach and effective in guiding stakeholders in understanding the growth dynamics.
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