DUBLIN, The “Lithium-ion Battery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” report has been added to ResearchAndMarkets.com’s offering.
The global lithium-ion battery market reached a value of US$ 39.41 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 83.62 Billion by 2027, exhibiting a CAGR of 13.62% during 2022-2027. Keeping in mind the uncertainties of COVID-19, they are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor
A lithium-ion battery (LIB) is a rechargeable battery that utilizes an intercalated lithium compound as its electrode. Consisting of the anode, cathode and electrolyte, it is an electrochemical storage device that does not require complete discharge prior to recharging. It is characterized by higher energy density, minimal maintenance and lower self-discharge rates when compared with its counterparts, such as nickel-cadmium batteries. It also offers a good energy-to-weight ratio and high open-circuit voltage. Additionally, it does not require scheduled cycling to improve its service life. As a result, LIB finds extensive application across numerous industry verticals, such as consumer electronics and automotive
A significant increase in the uptake of consumer electronics on the global level represents the primary factor driving the growth of the market. In line with this, the increasing penetration of portable variants, such as smartphones, laptops, digital cameras, gaming consoles and torches, along with high-speed internet connectivity, is significantly contributing to the market growth. The increasing usage of these electronics has created an incessant demand for high-quality rechargeable batteries, which is expected to provide a thrust to the market growth.
Along with this, LIB forms an indispensable component of electric vehicles (EVs). Enhanced focus on sustainable development and the growing awareness regarding the adverse effects of using traditional automobiles have provided an impetus to the market growth. Additionally, governments of numerous countries are offering subsidies and implementing favorable initiatives to promote the sales of EVs, which is anticipated to create a positive outlook for the market. Furthermore, LIBs are widely employed as a crucial component in grid energy storage, such as solar grids. The rising demand for an uninterrupted supply of electricity is acting as another major growth-inducing factor
Competitive Landscape:
The competitive landscape of the industry has also been examined with some of the lithium ion battery manufacturers being A123 Systems LLC, AESC SDI CO.,LTD., LG Chem Ltd., Panasonic Corporation, SAMSUNG SDI CO.,LTD., Toshiba Corporation, Amperex Technology Limited, BAK Group, Blue Energy Limited, BYD Company Ltd., CBAK Energy Technology, Inc., Tianjin Lishen Battery Joint-Stock CO.,LTD., Valence Technology, Inc., SK innovation Co., Ltd, and Hitachi, Ltd
Key Questions Answered in This Report:
How has the global lithium-ion battery market performed so far and how will it perform in the coming years? What has been the impact of COVID-19 on the global lithium-ion battery market? What are the key regional markets? What is the breakup of the market on the basis of the product type? What is the breakup of the market on the basis of the power capacity? What is the breakup of the market on the basis of the application? What are the price trends of lithium-ion batteries? What are the various stages in the value chain of the industry? How are lithium-ion batteries manufactured? What are the key driving factors and challenges in the market? What is the structure of the global lithium-ion battery market and who are the key players? What is the degree of competition in the market?
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