|Study Period:||2019- 2026|
|Fastest Growing Market:||Asia-Pacific|
Need a report that reflects how COVID-19 has impacted this market and its growth?
The Global Lithium-Ion Battery market is expected to grow at a CAGR of around 15% during the forecast period. With the COVID-19 outbreak in Q1 of 2020, the Global Lithium-Ion Battery market was moderately impacted, and the collapse of raw material prices due to oversupply and weak demand resulted from COVID-19. Though there was an impact on the supply chain during H1 of 2020, however, the market across the globe is managed to grow in 2020, with an increase in electric vehicles sales in most of the regions of the world. Factors such as increasing demand for electric vehicles and electronic devices are expected to drive the market. However, increasing adoption of alternate batteries like lead-acid, lithium-air, sodium nickel chloride, and flow batteries are expected to hinder the market growth during the study period.
• On account of increasing sales of electric vehicles in 2020, it is expected to act as a significant segment for the market studied during the forecast period.
• With the target of reducing carbon emission across the globe, the demand for energy-efficient solutions like lithium-ion batteries is expected to increase the opportunity for lithium-ion battery companies to install batteries in numerous end use applications. Moreover, the plans to reduce dependency upon foreign fossil fuel like crude oil and would opt for batteries like lithium-ion battery to reduce the expenses related to imported oil.
• With a significant demand for automobile and electronic devices in 2020, Asia-Pacific is expected to dominate the market during the study period.
Scope of the Report
The lithium-ion battery market report includes:
|Middle East & Africa|
Key Market Trends
Electric Vehicle Segment as a Significant Sector
• Asia-Pacific is becoming one of the fastest-growing lithium-ion battery markets and one of the most promising regions in the global expansion of the automotive industry.
• As per Global EV Outlook 2021, Global electric car registrations have recorded a high mark. Battery electric vehicle (BEVs) 2007 thousand units and 967thousand Plug-in electric vehicles (PHEVs).
• In 2020, BEVs accounted for two-thirds of new electric car registrations across the globe. With the overall new car registrations tumbling, the global electric car sales share rose 70% to a record of 4.6%.
• As per Global EV Outlook 2021, the automotive lithium-ion battery production was around 160 gigawatt-hours (GWh) in 2020 and registered a year-on-year growth of 33% compared to 2019.
• Electric car registrations have been recorded over a 41% increase in 2020 and a constant average battery capacity of 55 kilowatt-hours (kWh) for BEVs and 14 kWh for PHEVs.
• The increasing demand and growing awareness about the aids of battery-operated vehicles and increasing fossil fuel prices, particularly in the emerging Asia Pacific, Europe, and North American regions, are projected to favor the growth of the application segment.
• In addition, policymakers across different countries in the region have been intensifying their efforts to ensure a secure, affordable, and sustainable pathway for electric vehicles, which includes activities to facilitate investment in establishing manufacturing plants and supportive infrastructure facilities.
• Hence, considering all the factors and upcoming investments in the automobile industry, research and development are expected to act as a significant segment during the study period.
To understand key trends, Download Sample Report
Asia-Pacific to Dominate the Market
• Asia-Pacific region is expected to dominate the global lithium-ion battery market. With the increasing implementation of electric vehicles in countries such as China, India, and Japan and the demand for high-quality rechargeable battery technologies with urbanization and increasing power purchase parity, lithium-ion batteries are expected to witness significant growth in the region.
• As per Global EV Outlook 2021, Battery production continues to be dominated by China, which accounts for over 70% of global battery cell production capacity. China has accounted for the largest share of battery demand at almost 80 GWh in 2020.
• China is one of the largest markets for the production and sales of electric vehicles. The increasing adoption of electric cars in the country has been increased significantly with the clean energy policy. Moreover, the Government of China has been providing financial and non-financial incentives to promote the adoption of electric vehicles.
• In 2020, the Government of India has introduced the Production-Linked Incentive (PLI) Scheme in the automobile and auto components sectors for enhancing India’s manufacturing capabilities and enhancing exports. The scheme helps companies to start local manufacturing of lithium-ion cells in the next couple of years.
• Despite lack of prominent reserves or production of raw material, such as lithium and cobalt, India, in line with its aspiration to achieve 100% electric vehicle (EV) sales by 2030, is expected to emerge as a regional hotspot for global lithium-ion battery players, during the forecast period.
• Favorable policies, such as the energy efficiency standards, and increasing peak demand charges and technological advances, have led to the commercial and industrial (C&I) sector receiving more attention from project developers, primarily driven by solid growth in China and India, which, in turn, is expected to drive the demand for lithium-ion-based energy storage systems in the region.
• Further, the countries like China, India, Japan, and others have substantial demand from major end-use applications that is likely to boost the sector in the region during the study period.
To understand geography trends, Download Sample Report
The lithium-ion battery market is moderately fragmented. Some of the major players include LG Chem Ltd., Panasonic Corporation, Sony Corporation, Samsung SDI, and Johnson Controls among others.
- In March 2021, Ola Electric has announced a plan to set up a cell manufacturing plant to power its lithium-ion (Li-ion) battery. The battery manufacturing plant will be made in the upcoming integrated plant near Bengaluru, India, where the e-scooter will also be manufactured.
- In June 2021, the European Commission and the Batteries European Partnership Association (BEPA) have signed the Memorandum of Understanding (MoU), officially launching BATT4EU. The MoU is a part of the lithium-ion battery investment project, aiming for Europe to become the world’s second-largest lithium-ion battery cell production by 2025.
- In September 2021, Exide Industries has announced plans to set up a multi-gigawatt lithium-ion cell manufacturing plant in India. It also plans to apply for and participate in the Production-Linked Incentive Scheme for National Programme on Advanced Chemistry Cell(ACC) battery Storage, issued by the Ministry of Heavy Industries.
Table of Contents
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2. EXECUTIVE SUMMARY
3. RESEARCH METHODOLOGY
4. MARKET OVERVIEW
4.2 Market Size and Demand Forecast in USD billion, till 2026
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.6 Supply Chain Analysis
4.7 Porter's Analysis
4.7.1 Bargaining Power of Suppliers
4.7.2 Bargaining Power of Consumers
4.7.3 Threat of New Entrants
4.7.4 Threat of Substitutes Products and Services
4.7.5 Intensity of Competitive Rivalry
4.8 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1.1 Electronic Devices
5.1.4 Other Applications
5.2.1 North America
5.2.2 South America
5.2.4 Middle East & Africa
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 LG Chem Ltd
6.3.2 Panasonic Corporation
6.3.3 Sony Corporation
6.3.4 Samsung SDI
6.3.5 Johnson Controls
6.3.6 BYD Company Limited
6.3.7 Tianjin Lishen Battery Joint-Stock Co. Ltd
6.3.8 Hitachi Chemical Co., Ltd.
6.3.9 GS Yuasa International Ltd.
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
You can also purchase parts of this report. Do you want to check out a section wise price list?
Frequently Asked Questions
What is the study period of this market?
The Lithium-ion Battery Market market is studied from 2019 - 2026.
What is the growth rate of Lithium-ion Battery Market?
The Lithium-ion Battery Market is growing at a CAGR of >15% over the next 5 years.
Which region has highest growth rate in Lithium-ion Battery Market?
Asia-Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Lithium-ion Battery Market?
Asia-Pacific holds highest share in 2021.
Who are the key players in Lithium-ion Battery Market?
Panasonic Corporation, Tesla Inc., Samsung SDI, Sony Corporation, LG Chem Ltd are the major companies operating in Lithium-ion Battery Market.