Lithium-ion Battery Market to Reach USD 193.13 Billion by 2028; Growing Trend of Electrification to Increase Growth: Fortune Business Insights™

Fortune Business Insights

Leading companies featured in lithium-ion battery market are BYD Company, LG Chem, Contemporary Amperex Technology Co. Ltd, Samsung SDI, Panasonic Corporation, BAK Power, Clarios, Toshiba Corporation, Hitachi, Automotive Energy Supply Corporation, A123 System, Saft Group S.A.

Pune, India, 21 Feb. 2022 (GLOBE NEWSWIRE) — The world lithium ion battery market the size was USD 36.90 billion in 2020. The global market size is expected to be USD 44.49 billion in 2021 and is expected to reach $193.13 billion by 2028displaying a CAGR of 23.3% during the forecast period, 2021 to 2028. This information is provided by Fortune Business Insights, in its report titled “Lithium-ion Battery Market, 2021-2028”.

According to our analysts, the incessant demand for electrical power for many applications, the increased demand for electric vehicles, the growing need for battery-operated equipment and machinery in automotive industries, and the use of lithium-ion batteries in Renewable energy applications are supporting the lithium-ion battery market growth.

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Global Key Players in Lithium-Ion Battery Market:

  • BYD Company (China)

  • LG Chem (South Korea)

  • Contemporary Amperex Technology Co. Ltd (CATL) (China)

  • Samsung SDI (South Korea)

  • Panasonic Corporation (Japan)

  • BAK Power (China)

  • Clarios (Germany)

  • Toshiba Corporation (Japan)

  • Hitachi (Japan)

  • Automotive Energy Supply Corporation (Japan)

  • A123 system (US)

  • Saft SA Group (France)

Report scope and segmentation

Report cover

Details

Forecast period

2021 to 2028

Forecast Period 2021 to 2028 CAGR

23.3%

2028 value projection

$193.13 billion

base year

2020

Lithium-ion battery market size in 2020

$75.03 billion

Historical data for

2017 to 2019

Number of pages

220

Segments Covered

Type, application and geography

Lithium-Ion Battery Market Growth Drivers

Increased use of batteries in power grids and energy storage systems to drive the market

Joint ventures initiated by key companies are poised to support market growth

Impacts of COVID-19:

The influence of COVID-19 on the global lithium-ion battery market is hampering growth

The COVID-19 outbreak has hampered the growth of the lithium-ion battery market. The new coronavirus has restricted the distribution of batteries. The vital battery component is mostly available in Asia-Pacific, but the pandemic has overexposed the reliability of raw materials in the region.

To learn more about the short and long term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/industry-reports/lithium-ion-battery-market-100123

segments:

The type, application and region are studied for the market

On the basis of type, the market is categorized into Lithium-Cobalt Oxide, Lithium-Iron Phosphate, Lithium-Cobalt-Aluminum Oxide, Lithium-Manganese Oxide, Lithium-Nickel-Manganese-Cobalt, and Titanium-Titanate Oxide. lithium. Lithium cobalt oxide held a major share in 2020, due to its wide implementation in modern electronic gadgets.

Based on applications, the market is categorized into automotive, consumer electronics, energy storage systems, industrial, and others.

Geographically, the market is divided into five major regions, including Europe, North America, Asia-Pacific, Middle East & Africa, and Latin America.

Report cover:

Our analysis is based on a wide-ranging review method that mainly focuses on presenting specific material. Our researchers have applied a data navigation technique, which further helps us present reliable approximations and accurately test overall market dynamics. In addition, our scholars have been admitted into various internationally and nationally funded files to offer up-to-date material for stakeholders and business experts to invest only in the core areas.

Drivers and Restrictions:

Increased use of batteries in power grids and energy storage systems to drive the market

The imposition of strict government guidelines to monitor the phases of increasing pollution forces industries to use lithium-ion batteries. The electricity industry strives to manufacture renewable energy and store it for future use. Moreover, low cost, low self-discharge rate and negligible installation space are some of the crucial factors driving the implementation of lithium-ion batteries in smart grids and energy storage systems. energy. Since the product is more resistant to high temperatures, it is perfect for use in remote areas and thermal control applications.

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Regional outlook:

Asia-Pacific is expected to hold the largest lithium-ion battery market share during the mentioned period. China and Japan have been measured as the world’s largest markets for e-vehicles.

North America is believed to be seeing robust growth, with the United States dominating the region’s industrial landscape.

The growing focus of government organizations on greenhouse gas emissions to the environment in Europe has supported the growth of the lithium-ion battery market.

Competitive Landscape:

Joint ventures initiated by key companies are poised to support market growth

The dominant market players are continuously trying to implement effective tactics to increase their brand value and sustain the growth of the global market by tackling the least imaginable obstacles. One of these operational strategies is to enter into joint ventures with other competing companies and further preserve a profit for both companies involved.

Industry developments:

September 2021: Toshiba Corporation, CBMM and Sojitz Corporation have launched a joint development agreement to commercially launch the next-generation lithium-ion battery using niobium titanium oxide as the anode material.

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Main table of contents:

  • introduction

  • Abstract

  • Market dynamics

  • key ideas

    • Main emerging trends

    • Main developments: mergers, acquisitions, partnerships, etc.

    • Latest technological advancement

    • Regulatory landscape

    • Analysis of the five forces of carriers

  • Qualitative Analysis – Impact of COVID-19

    • Impact of COVID-19 on the lithium-ion battery market

    • Measures taken by the government to overcome the impact

    • Key Industry Developments in Response to COVID-19

    • Potential Opportunities and Challenges Due to the COVID-19 Outbreak

  • Global Lithium-Ion Battery Market (USD Billion) (GWh) Analysis, Outlook and Forecast, 2017-2028

    • Main results/summary

    • Market Analysis, Outlook and Forecast – By Type

    • Market Analysis, Outlook and Forecast – By Application

    • Market Analysis, Outlook and Forecast – By Region

      • North America

      • Europe

      • Asia Pacific

      • Latin America

      • Middle East and Africa

  • North America Lithium-Ion Battery Market Analysis (USD Billion) (GWh), Outlook and Forecast, 2017-2028

    • Main results/summary

    • Market Analysis, Outlook and Forecast – By Type

    • Market Analysis, Outlook and Forecast – By Application

      • Consumer electronics

      • Automotive

      • Energy storage system

      • Industrial

      • Others

    • Market Analysis, Outlook and Forecast – by Country

      • US Market Analysis, Outlook and Forecast – By Application

        • Consumer electronics

        • Automotive

        • Energy storage system

        • Industrial

        • Others

      • Canada Market Analysis, Outlook and Forecast – By Application

        • Consumer electronics

        • Automotive

        • Energy storage system

        • Industrial

        • Others

  • Europe Lithium-Ion Battery Market Analysis (USD Billion) (GWh), Outlook and Forecast, 2017-2028

    • Main results/summary

    • Market Analysis, Outlook and Forecast – By Type

    • Market Analysis, Outlook and Forecast – By Application

      • Consumer electronics

      • Automotive

      • Energy storage system

      • Industrial

      • Others

TOC Continued…!

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