According to the report published by IndustryARC 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),” the Lithium Ion Battery Market is forecast to surpass $80 billion by 2023, growing at a CAGR of around 15%.
Browse 49 Market Tables and 176 Figures spread through 115 Pages, and go through an in-depth TOC on the "Lithium-Ion Battery Market (2019 - 2025)"
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According to IndustryARC, the high growth of the Lithium Ion Battery Market is mainly due to the burgeoning demand in the automotive sector. UltraCharge Ltd, a Lithium Ion batteries manufacturer is currently in the process of commercializing high powered, cobalt-free lithium-ion batteries which would lower the cost of energy storage. Increasing instances of development activities in Lithium Ion batteries is anticipated to provide significant growth opportunities for the Lithium Ion Battery market. Additionally, these development activities by Lithium Ion Battery manufacturers are anticipated to provide cost-effective products without compromising on the performance, which in turn affects the Lithium Ion Battery Market growth.
Lithium Ion batteries are used across various end-user industries such as electronics, automotive, industrial, and others. Automotive remains the largest end-user industry for Lithium Ion batteries and is estimated to grow at a CAGR of around 22% from 2019 to 2025. The high growth of this segment is attributed to the growing emphasis on electric vehicles across the globe. Some of the key materials essential to manufacture a Lithium Ion battery are Cathode, anode, electrolytic solution, separator, binder and foils. Increasing R&D investments in material science, is anticipated to pave the way for smaller and cost effective products with better performance.
Asia-Pacific is the largest market for Lithium Ion batteries. Burgeoning trend to develop reliable battery which could deliver variable power ranges with low energy losses are anticipated to pave the way for significant opportunities for lithium ion battery market growth in the APAC region. In APAC, China, India, and Japan have a high demand for Lithium Ion batteries especially in automotive end-user industry. This demand is expected to propel the market growth in the APAC region. Additionally, increasing population coupled with growing disposable income in the APAC region is escalating the demand for the consumer electronics, which in turn affects the Lithium Ion battery market growth.
The major players in this market include
- BYD Co Ltd
- Panasonic Corp.
- Johnson Controls International plc
- Hitachi Chemical Co., Ltd.
- Samsung SDI Co
- GS Yuasa Corp.
- BAK Group
- Toshiba Corp.
- LG Chem Ltd.
Lithium Ion Battery manufacturers have launched new technologies and products launches as a strategy and enhanced core competencies through additions to product portfolio to gain a foothold in the emerging markets.
The various end-user industries covered in the Lithium Ion Battery Market report include:
- Others (Energy, Medical, & Military)
The overall Lithium Ion Battery Market is also presented from the perspective of different geographic regions and the key countries for this industry. Competitive landscape for each of the product types is highlighted and market players are profiled.
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A. Silicon anode batteries Market
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