The Worldwide Lithium-Ion Battery Industry is Expected to Reach $160.2 Billion by 2026 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--The "Worldwide Lithium-Ion Battery Industry" report has been added to ResearchAndMarkets.com's offering.
The Global Lithium-ion Battery Market stood at $42.30 billion in 2020 and is expected to grow at a CAGR of around 26.04% to reach a value of around $160.21 billion by 2026.
Growing environmental concerns, the declining price of lithium-ion batteries, and the rise in the number of market players investing a significant amount to launch batteries with advanced capacity are the primary factors driving the growth of the Global Lithium-ion Battery Market in the predicted period.
Growing awareness about the amount of carbon emissions released into the environment from automobiles and the imposition of strict emission norms by leading authorities by several countries are driving the adoption of electric vehicles around the globe. The entry of new market players and the launch of new variants of existing versions of electric vehicles by investing heavily in research and development activities to lower the production costs of lithium-ion batteries is expected to spur market growth.
The government of several developing countries provides incentives and subsidies on the purchase and manufacturing of electric vehicles and promotes the construction of public charging infrastructure to accelerate the sales of electric vehicles all around the globe. Manufacturers are focusing on manufacturing electric vehicles running on lithium-ion batteries instead of adopting other battery alternatives due to their lightweight nature, high energy density, and low cost. Lithium-ion battery finds applications in military applications, robots, solar PV backup power material handling equipment, telecommunication industry, microelectronic devices, aviation industry, smart grid, electric vehicles, passenger cars, and others, which is expected to boost the market growth.
The Global Lithium-ion Battery Market is segmented on the basis of type, shape, application, competitional landscape, and regional distribution. Based on application, the market is divided into consumer electronics, medical devices, utilities & ESS, telecom towers, manufacturing, automotive & traction, and others. The automotive & traction segment is expected to hold the largest market share in the forecast period, 2022-2026. The booming automotive industry, high production, and sales of electric vehicles supporting lithium-ion batteries and rise in the market players are the major driving factors supporting the high demand for lithium-ion batteries all around the globe.
Years considered for this report:
- Historical Years: 2016-2019
- Base Year: 2020
- Estimated Year: 2021E
- Forecast Period: 2022F-2026F
Objective of the Study:
- To analyze the historical growth in the market size of the Global Lithium-ion Battery Market from 2016 to 2020.
- To estimate and forecast the market size of the Global Lithium-ion Battery Market from 2021 to 2026F and growth rate until 2026F.
- To classify and forecast the Global Lithium-ion Battery Market based on type, shape, application, regional distribution and competitional landscape.
- To identify drivers and challenges for the Global Lithium-ion Battery Market.
- To examine competitive developments such as expansions, new product launches, mergers, and acquisitions, etc., in the Global Lithium-ion Battery Market.
- To conduct pricing analysis for the Global Lithium-ion Battery Market.
- To identify and analyze the profile of leading players operating in the Global Lithium-ion Battery Market.
In this report, the Global Lithium-ion Battery Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Global Lithium-Ion Battery Market, By Type:
- Lithium Nickel Manganese Cobalt Oxide
- Lithium Iron Phosphate
- Lithium Cobalt Oxide
- Lithium Manganese Oxide
Global Lithium-Ion Battery Market, By Shape:
- Pouch Cell
- Cylindrical Cell
- Prismatic cell
- Button Cell
Global Lithium-Ion Battery Market, By Application:
- Automotive & Traction
- Consumer Electronics
- Utilities & ESS
- Medical Devices
- Telecom Towers
Global Lithium-Ion Battery Market, By Region:
- South Korea
- New Zealand
- United Kingdom
- North America
- United States
- South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- LG Chem Ltd.
- Contemporary Amperex Technology Co. Limited (CATL)
- Samsung SDI Co Ltd
- Panasonic Corporation
- BYD Co. Ltd.
- SK Innovation Co., Ltd.
- Envision AESC Group Ltd.
- A123 Systems LLC
- Toshiba Corporation
- Vehicle Energy Japan Inc.
For more information about this report visit https://www.researchandmarkets.com/r/kiv24a
Laura Wood, Senior Press Manager
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