Lithium Ion Battery Market By Chemistry (LFP, LCO, LTO, NMC, NCA, LMO), By Component (Cathode, Anode, Separators, Electrolytes, Aluminum Foil, Copper Foil, Others), By Application (Industrial {Military, Industrial Equipment, Medical, Marine, Others}, Automotive {Hybrid Electric Vehicles, Battery Electric Vehicles}, Consumer Electronics {Smartphones, Laptops, UPS Systems, Smart Cameras, Smart Watches, Smart Glasses, Smart Textiles, Activity Trackers, Others}, Energy Storage), Analysis Report, Regional Outlook, Competitive Market Analysis & Forecast, 2019 – 2025

Published Date: Jun 2019  |  Report ID: GMI1135  |  Authors: Ankit Gupta, Aditya Singh Bais

Report Format: PDF   |   Pages: 470   |   Base Year: 2018

Summary Table of Contents Industry Coverage Methodology

Industry Trends

Lithium Ion Battery Market was valued over USD 33 billion in 2018 and is anticipated to expand over 11% by 2025.

Lithium Ion Battery Market

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Increasing purchasing power of consumers coupled with continuous decline in the price of electrical vehicles will propel the market growth. In addition, implementation of stringent regulations to limit carbon emissions across transportation sector will positively impact the industry growth. For instance, in 2019 European Union has revised the Clean Vehicles Directive under which the national procurement target for green buses is set between 24% to 45% depending on the population and GDP of the respective countries.

Increasing adoption of clean energy technologies along with growing demand for energy storage systems (ESS) will boost the lithium ion battery market growth. ESS mitigates concerns toward energy security and provides a cost effective & sustainable solution to meet the increasing energy demand. Multiple countries across the globe have announced targets aimed toward curbing carbon emissions and promote clean energy technologies which in turn will drive the product penetration.

Lithium Ion Battery Market Report Coverage
Report Coverage Details
Base Year: 2018 Market Size in 2018: 33 Billion (USD)
Historical Data for: 2014 to 2018 Forecast Period: 2019 to 2025
Forecast Period 2019 to 2025 CAGR: 11% 2025 Value Projection: 73 Billion (USD)
Pages: 470 Tables, Charts & Figures: 735
Geographies covered (34): U.S., Canada, Germany, UK, France, Russia, Italy, Spain, Austria, Netherlands, Sweden, China, Japan, India, South Korea, Australia, Indonesia, Malaysia, Thailand, Philippines, Saudi Arabia, UAE, Iran, Egypt, Turkey, Morocco, South Africa, Nigeria, Algeria, Brazil, Argentina, Mexico, Chile, Colombia
Segments covered: Chemistry, Component, Application, and Region
Companies covered (24): Samsung SDI Co. Ltd, Panasonic Corporation, TESLA Inc, GS Yuasa Corporation, Hitachi Chemical Co Ltd, LG Chem Ltd, BYD Co, Ltd., Toshiba Corporation, A123 Systems, LLC, Envision (AESC), Koninklijke Philips N.V., Hitachi Maxell Ltd., EnerDel, Johnson Controls, Inc., Saft Batteries, ProLogium Technology Co. Ltd., Energus Power Solutions, Ltd., Roofer Technology Co. Ltd., Duracell, Inc., Akku Tronics New Energy Technology Co., EaglePicher Technologies, LLC, Ding Tai Battery Company Ltd., Padre Electronics Company Ltd., Lithium Werks,
Growth Drivers:
  • High energy density and longer shelf life
  • Increased spending on consumer electronics
  • Positive outlook towards hybrid and electric vehicles industry
  • Growth in renewable energy sector
Pitfalls & Challenges:
  • High production demand

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Lithium Ion Battery Market, By Components

Cathode in lithium ion battery market is anticipated to exceed USD 20 billion by 2025. Short discharge time, low maintenance and long service life are some of the key features that will drive the demand for new chemistries including NMC, LTO and LMO when compared to available counterparts.

Separator segment will witness growth on account of growing demand for new battery technologies across industrial and mobility applications. Separators are key component of the battery as they prevent electrical short-circuits by isolating the electrodes. It also used for electrolyte reservoir, which act as a medium for transfer of ions during the charge and discharge cycles.

Lithium Ion Battery Market, By Chemistry

China Lithium Ion Battery Market Size By Chemistry

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Lithium Iron Phosphate (LFP) battery market will grow on account of its strong electrochemical performance, low resistance, and high current rating. Enhanced life cycle, and high thermal stability are some of the other key characteristics favoring product adoption over available alternatives. These units are prominently used across portable and stationary applications where high load currents and endurance are prime considerations.

Nickel manganese cobalt (NMC) battery market is anticipated to witness growth over 14% by 2025. The combination of Nickel, Manganese and Cobalt offers a distinctive blend that lowers the material cost on account of low Cobalt content in the battery. Its wide raging applications across E-bikes, medical devices, and EVs along with competitive pricing when compared with other lithium ion chemistries will positively impact the product demand.

Lithium Ion Battery Market, By Application

Industrial application segment was valued over USD 2 billion in 2018. Growing concerns toward worker safety coupled with long cycle life are some of the indispensable factors favoring the deployment of these units. Longer warranty periods along with enhanced operational life will boost the installation of these systems. In addition, increasing demand for electro mobility across the logistics and supply chain industry will enhance the industry landscape.

Lithium ion battery market from automotive applications is set to witness robust growth on account of growing focus toward zero emission vehicles coupled with introduction of extensive subsidy schemes & incentives toward EV adoption. Ongoing technological advancements toward enhancing the battery life & optimizing performance along with increasing demand for personal mobility will boost product penetration. In addition, rising investments toward the development of EV charging infrastructure will further enhance the industry growth.

Lithium Ion Battery Market, By Region

Europe Lithium Ion Battery Market By Country

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China market will witness robust gain of over 13% by 2025. Strong economic growth along with ongoing expansion & development of automobile manufacturing centers will enhance the business outlook. For instance, as per IEA, in 2018, number of electric cars in China reached 2.3 million which was around 45% of the global electric passenger cars fleet.

The U.S. lithium ion battery market is anticipated to witness growth on account of positive outlook toward utilization of ESS coupled with shifting trends toward the deployment of clean energy technologies. The country is one the early adopter of battery storage systems and as per EIA, by 2018, nearly 80% of the nation’s large-scale operational battery storage capacity was provided by li-ion technology. Increasing demand for EVs on account of changing consumer preference toward energy efficient vehicles will further augment the industry growth.

Competitive Market Share

Key market participants across the global lithium ion battery industry include Panasonic, Hitachi Chemical, Tesla, GS Yuasa, Samsung, Philips, LG Chem, Sanyo, A123 Systems, Toshiba, Valence, EnerDel, Saft, ProLogium, Roofer, Duracell, Energus Power, and Johnson Controls.

The industry players are involved in focused R&D activities along with product innovations to sustain a competitive edge over other industry participants. For instance, in June 2016, Hitachi Maxell, Ltd. invested at the reinforcement of production capacity of cylindrical battery. The investment was aimed toward expansion of company’s business portfolio.

 Lithium Ion Battery Industry Background  

Lithium ion battery are available in an extensive range of chemistries including lithium iron phosphate, lithium titanate, lithium cobalt oxide, lithium manganese oxide, nickel manganese cobalt oxide and nickel cobalt aluminum oxide. Lithium is highly reactive element, which can store lot of energy in its atomic bonds resulting in very high energy density. In addition, ongoing R & D investments aimed at reducing the material costs and negative environmental impact of these batteries will support the industry growth.

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