Global Lithium Ion Battery Market Growth Rate, Key Players, Demands, Size, Share, Capacity, Voltage, Application and Forecast to 2031

PUNE, India, September 13, 2022 /PRNewswire/ — ReportsnReports has added an in-depth analysis and forecast report of the global lithium-ion battery market to 2031 to its online research database. The size of the lithium-ion battery market is expected to grow from $44.5 billion in 2022 at $135.1 billion by 2031; it is expected to grow at a CAGR of 13.1% from 2022 to 2031. The major growth drivers of the lithium-ion battery market are the growing demand for lithium-ion batteries from rechargeable vehicles and the renewable energy sector and the progress seen in smart electronic devices that deploy lithium-ion batteries; and thus, provides various benefits to industries.

Some of the key players operating in the lithium-ion battery market include LG Chem (South Korea), SAMSUNG SDI CO. LTD. (South Korea), Contemporary Amperex Technology Co., Limited. (China), BYD Company Ltd. (China) and Panasonic Holdings Corporation (Japan), among others.

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“Lithium iron phosphate is expected to grow at a significant rate, followed by lithium nickel manganese cobalt oxide from 2022 to 2031”

Lithium Iron Phosphate battery type is expected to register the second highest growth rate over the forecast period. Due to its high power density, this technology is used in medium power traction applications (AGV, E-mobility) and heavy duty applications (marine traction, industrial vehicles, etc.). The long life of LFP batteries and the possibility of deep cycling make them suitable for energy storage applications (stand-alone applications, off-grid systems) or stationary use in general.

“0-3000 mAh to hold the second largest market share in 2021″

The capacity range of 0-3000mAh is the most popular and demanded in the market. Approximately 90% of consumer electronics applications deploy batteries with a capacity between 0 and 3000 mAh, as lower capacity batteries are potentially more durable power sources for consumer electronics and are light and laptops. O-3000mAh is the most popular type of lithium-ion battery in consumer electronics industry.

“Adoption of weak batteries (12 V) in small applications”

Sub-12V batteries are widely used in electric vehicles and solar power systems and in marine, military, telecommunications, trolling motor and deep cycle applications due to their various benefits. These batteries are preferred over other variants because they have the highest energy density with the lightest possible weight.

“The energy industry is estimated to hold the largest CAGR during the forecast period

The energy industry holds the largest CAGR of lithium ion battery market from 2022 to 2031. Electricity is one of the essential necessities and is crucial for the economic growth and well-being of a nation. Conventional energy sources are coal, natural gas, crude oil, etc., and unconventional sources are wind, solar, etc. Countries around the world are focused on achieving net zero carbon emissions. conventional energy sources. These energies require huge storage systems, and lithium-ion batteries offer the ideal solutions for storage. Lithium-ion battery energy storage systems allow grid operators to save electricity when there is a surplus of renewable energy.

Asia Pacific is expected to capture the highest growth rate in the market over the forecast period

The Asia Pacific The region is expected to hold the highest market growth rate in the lithium-ion battery market over the forecast period. The region is the main supplier of lithium-ion batteries to some of the fastest growing economies in the world. The countries in Asia Pacific are turning to green energy and therefore focus on developing an ecosystem to manufacture lithium-ion batteries in the respective countries. The region has become an attractive automotive market, emerging in recent years as a hub for automotive production. Recent infrastructure developments and industrialization activities in emerging countries have opened up new avenues and opportunities for OEMs. The increase in the purchasing power of the population has stimulated the demand for consumer electronics and automobiles, thus generating a demand for lithium-ion batteries.

The breakdown of the profiles of the main participants in the report is given below:

  • By business type: Level 1 = 52%, Level 2 = 31% and Level 3 = 17%
  • By designation: C-level executives = 47%, Directors = 31% and Others = 22%
  • By region: North America = 17%, Europe = 31%, Asia Pacific = 43% and Control = 09%

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Research Coverage:

The Global Lithium Ion Battery Market research report covers the market based on material, product type, type, capacity, voltage, industry, and region. Based on material, the market has been segmented into cathode material, anode material, electrolyte material, separator material, current collector material, and others. Based on product type, the market has been segmented into lithium-ion battery and portability components. Based on type, the market has been segmented into lithium nickel manganese cobalt oxide, lithium iron phosphate, lithium cobalt oxide, lithium titanate oxide, lithium manganese oxide, and lithium nickel cobalt aluminum oxide. Based on capacity, the market has been segmented into 0-3,000 MAH, 3,000-10,000 MAH, 10,000-60,000 MAH, and 60,000 MAH+. Based on voltage, the market has been segmented into low (below 12V), medium (12V-36V) and high (above 36V). Based on industry, the market has been segmented into consumer electronics, automotive, aerospace, marine, medical, industrial, energy, and telecommunications. The report covers four major regions, namely, North America, Europe, Asia Pacific (APAC) and Rest of the World (RoW).

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