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, Telecommunication, Forklifts, Mining, 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, 2020 – 2026

Published Date: May 2020  |  Report ID: GMI1135  |  Authors: Ankit Gupta, Nikhil Paranjape

Report Format: PDF   |   Pages: 510   |   Base Year: 2019

Summary Table of Contents Industry Coverage Methodology

Industry Trends

Global lithium ion battery market size surpassed USD 40 billion in 2019 and is anticipated to grow at over 15% through 2026. The surging demand for electric vehicles owing to the ongoing concerns toward increasing pollution levels will positively impact the lithium ion battery industry growth. The automotive segment accounted for the majority of the market share in 2019. 

Lithium Ion Battery Market

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Lithium iron phosphate, lithium cobalt oxide, and manganese oxide batteries are few of the prominent lithium ion battery chemistries that have witnessed significant adoption rates across a wide range of applications. Introduction of favorable policies to promote electric vehicles, increasing economies of scale and overcapacity in component manufacturing has significantly brought down the per kWh cost of batteries which will augment the lithium ion battery market outlook.

Currently, the lithium ion battery deployment is anticipated to witness subdued growth on account of ongoing COVID-19 pandemic. Governments across the globe have implemented social distancing measures of varying degrees to control the spread of disease. Large scale lockdown of manufacturing units, and shortage of manpower are few of the factors that will decrement the installation of lithium ion battery units.

However, if virus growth declines in upcoming months, the industry statistics will witness accelerated growth due to the positive outlook toward renewable energy generation technologies and clean energy-based mobility solutions.

The global lithium ion battery market report covers the detailed analysis of industry trends segmented on a regional & country basis across types of chemistries, component and application. Moreover, the market forecasts & estimates are in line with the data represented by state and federal authorities including the International Energy Agency, European Commission, The United Nations Conference on Trade and Development, The Asian Development Bank, International Monitory Fund, Battery Council International, Portable Rechargeable Battery Association, regulatory bodies and company annual reports.

Lithium Ion Battery Market Report Coverage
Report Coverage Details
Base Year:2019
Market Size in 2019:40.0 Billion (USD)
Forecast Period:2020 to 2026
Forecast Period 2020 to 2026 CAGR:15.4%
2026 Value Projection:76.0 Billion (USD)
Historical Data for:2015 to 2019
No. of Pages:510
Tables, Charts & Figures:752
Segments covered:Chemistry, Component, Application
Growth Drivers:
  • High energy density and longer shelf life
  • Increased spending on consumer electronics
  • Positive outlook toward hybrid and electric vehicles
  • Growth in renewable energy sector
Pitfalls & Challenges:
  • High production demand

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Ability of NMC battery chemistries to offer high energy density will drive the market outlook

Global Lithium Ion Battery Market By Chemistry

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Lithium ion battery market from NMC chemistry will register over 18% through 2026. Increasing penetration of EV’s and rising adoption of light electric vehicles will stimulate the demand for nickel manganese cobalt oxide (NMC) batteries. Nickel manganese cobalt is one of the most successful cathode combinations in Li-ion systems. Nickel and manganese are combined to enhance each other’s strengths which can be custom-made to work as power and energy cells.

NMC batteries have slowly occupied the position of LFP on account of their high energy density, complemented by economical price structure. These batteries have wide range of applications which include power tool, powertrains for electric vehicles due to low self-heating rate which will further augment the market opportunities. In addition, these battery units contain the most energy amount by volume and weight, thereby enhancing their adoption rates.

Growing demand for electronic products to surge the cathode-based component segment across lithium ion battery business

Global Lithium Ion Battery Market By Component

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Global lithium ion battery industry has undergone substantial improvement in terms of components over the recent past. Electrolytes, Aluminum foil, copper foil, anode, and cathode are some of the key lithium ion battery components. Global demand for cathode materials has experienced significant upsurge owing to decreasing raw material costs and increasing demand for NCA, LFP and LMO batteries.

These lithium ion battery units have high penetration across consumer electronics products which are witnessing significant demand. Substantial production capacity along with strong demand for batteries are few of the vital factors which will boost the demand for cathode materials.

However due to large scale breakout of COVID – 19, the lithium ion battery manufacturing companies are facing challenges linked with sustaining the continuity in supply chains & infrastructure operations. The surge in logistical and operational complexity of manufacturing lithium ion battery units due to the lockdown initiated by respective governments has subdued the deployment of the batteries.

Positive outlook towards electric vehicles to augment the market demand of lithium ion batteries from automotive sector

Lithium ion battery market from automotive sector will witness strong growth on account of rising focus toward zero emission vehicles along with growing focus toward increasing sustainability across transportation sector. Increasing demand for personal mobility coupled with ongoing technological advancements in lithium ion battery life cycle will boost market demand.

In addition, supportive legislations toward adoption of low emission vehicles has further created a positive market demand. For instance, as per the International Energy Agency, the global electric car fleet in 2018, surpassed 5.1 million, an increase of 2 million as compared to previous year.

Ongoing expansion of e-commerce sector to boost the industry statistics across Asia Pacific region

North America, Europe, and Asia Pacific regions account for over 90% of the global market share for lithium ion battery units in 2019. Rising demand for high energy density batteries along with growing penetration of consumer products have fueled the adoption of these units. The ongoing growth of the e-commerce industry have fueled the demand for consumer electronics on a global scale, thereby complementing the market demand of lithium ion battery units.

The market statistics of Asia Pacific region are witnessing an e-commerce revolution accounting for the largest share of world’s B2C e-commerce market. The e-commerce boom has enhanced the adoption of consumer electronics across the region thereby witnessing a cyclical demand for lithium-ion battery units.

In addition, adoption of stringent policies pertaining to carbon emissions, specially from transportation sector has propelled the demand for electric vehicles, thereby creating a steady market demand. For instance, in November 2019, BYD Co., Ltd. and Toyota Motor Corporation has declared to establish a joint corporation to perform R&D activities for batteries electric vehicles (BEV). The new R&D company is anticipated to be established in China in the year 2020.

The ongoing transition from traditional lead acid batteries toward the adoption of lithium ion battery systems to increase sustainability across the ecosystem will drive the global lithium ion battery market growth. Robust growth across key industries including refining, construction, and mining along with growing penetration of smart devices has further urged the demand for lithium ion batteries.

Mergers & acquisitions and strategic partnerships acting as the focal point for market leaders

The eminent market players operating across the lithium ion battery market are focusing on strategic alliances to achieve a competitive edge. The corporate strategy on partnerships is devised to significantly transform the lithium ion battery market trends by enhancing manufacturing efficiency and drive down the overall battery costs to consolidate a leading market share. The key market players include Samsung SDI Co. Ltd., Panasonic Corporation, Tesla Inc., GS Yuasa Corporation, Hitachi Chemical Co. Ltd. and LG Chem Ltd. amongst others

Global lithium ion battery market research report includes in-depth coverage of the industry with estimates & forecast in terms of “USD” from 2015 to 2026, for the following segments:

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
    • Telecommunication
    • Forklifts
    • Mining
    • 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

The above information has been provided for the following regions and states:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Italy
    • Spain
    • Austria
    • Netherlands
    • Sweden
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Malaysia
    • Thailand
    • Philippines
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Iran
    • Egypt
    • Turkey
    • Morocco
    • South Africa
    • Nigeria
    • Algeria
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Chile
    • Colombia

Frequently Asked Questions (FAQ) :

According to credible reports, lithium ion battery market would record a crcr of 15.4% over the anticipated time span.
Rising demand for efficient energy storage systems along with the introduction of favorable policies toward the deployment of renewable energy technologies will be key driving factors for the global market growth.
One of the major challenges likely to impact the global market growth includes high production demand.
Samsung SDI Co. Ltd., Panasonic Corporation, Tesla Inc., GS Yuasa Corporation, Hitachi Chemical Co. Ltd. and LG Chem Ltd. are the major players in the global market.
The global lithium-ion battery market is anticipated to grow to a valuation of more than USD 76 billion by 2026.

Premium Report Details

  • Published Date: May 2020
  • Pages: 510
  • Tables: 702
  • Charts / Figures: 50
  • Companies covered: 25
  • Countries covered: 34

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