The growth of the market is driven by the increasing demand for plug - in vehicles and increasing demand for automation and battery.
Market Size – USD 36.20 billion in 2018, Market Growth - CAGR of 13.4%, Market Trends – Increasingly being used as a hybrid and full - battery electric vehicle (BEV) power source
The Lithium Ion Battery Market is forecasted to grow from USD 36.20 billion in 2018 to USD 109.72 billion by 2026, at a CAGR of 13.4%, during the forecast period. Lithium - ion batteries are increasingly being used as a hybrid and full - battery electric vehicle (BEV) power source.
Over the past couple of years, China, the US, and the European region have accounted for maximum sales of electric vehicles, which are primarily high-end electric vehicles. Roughly 1.6 million electric cars are on the roads in China until 2018, followed by 810,000 in the United States.
Furthermore, the falling battery prices, coupled with rising global automakers commitments, are expected to bring price - competitive electric vehicles to all the major light - duty vehicle segments as well, which in turn is expected to further increase demand for EVs, resulting in increased demand for lithium - ion batteries.
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Regions Covered in This Report:
- North America(the U.S., Mexico, and Canada)
- Latin America(Brazil and Rest of Latin America)
- Asia Pacific(China, Japan, India, and Rest of Asia Pacific)
- Europe(the U.K., Germany, France, and Rest of Europe)
- Middle East Africa(GCC Countries and Rest of Middle East Africa)
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Global Lithium Ion Battery Market Segmentation:
Product Type Outlook:
- Lithium cobalt oxide (LCO)
- Lithium iron phosphate (LFP)
- Lithium Nickel Cobalt Aluminum Oxide (NCA)
- Lithium Manganese Oxide (LMO
- Lithium Titanate
- Lithium Nickel Manganese Cobalt
Application Outlook:
- Automotive
- Consumer electronics
- Industrial
- Energy Storage Systems
Key companies profiled in the report:
- Samsung (South Korea),
- BYD (China),
- Sony (Japan),
- LG Chem (South Korea),
- Sanyo (Japan),
- ATLASBX Co. Ltd. (South Korea),
- Johnson Controls (US),
- Exide Technologies (US),
- Saft (France) and East Penn Manufacturing Co. (US).
Further key findings from the report suggest
- The Lithium Ion Battery Market is forecasted to grow from USD 36.20 billion in 2018 to USD 109.72 billion by 2026, at a CAGR of 13.4%, during the forecast period. Lithium ion batteries are increasingly used as a source of power for hybrid and full battery electric vehicles (BEV).
- The market for Lithium Nickel Manganese Cobalt (NMC) is expected reach USD 39.01 Billion in 2026. NMC is used in laptops, mobile phones, tablets and electrical storage systems for batteries. It is expected that the batteries of notebooks, mobile phones and tablets will gradually replace LCO and NCA cathode materials.
- The market for 0 to 3000 mAh is expected to reach USD 29.28 Billion in 2026. The growing market for consumer electronics and smartphones has increased the need for high - powered batteries to keep the device running for long hours.
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