Lithium Battery Market Updates by 2031
MARKET INTRODUCTION
A Li-ion battery, also called a LIB, is a rechargeable battery used in laptops, cell phones, and hybrid and electric vehicles. The use of Li-ion batteries in various applications is increasing due to their light weight and high energy density for extended battery life and charging capacity. The growing demand for lithium-ion batteries in smartphones is expected to boost the market due to their long durability and improved performance. In addition, demand for electric vehicles is expected to drive market growth due to increasing consumer awareness to reduce global CO2 emissions.
MARKET DYNAMICS
The growth of the lithium-ion battery market is driven by increasing demand for smartphones and other electronic devices, and the rise in electric vehicles are some of the key factors contributing to the growth of the global lithium-ion battery market. The implementation of stringent government regulations to control the increasing environmental pollution is expected to further boost the market growth. However, the high price of lithium-ion battery is expected to restrain the growth of the market. On the contrary, higher energy efficiency requirements in technologically updated consumer devices are expected to offer growing opportunities for the lithium-ion battery market to key players.
MARKET SCOPE
The “Global Lithium Battery Market Analysis to 2031” is a specialized and in-depth study of the lithium battery market with a special focus on the global market trend analysis. The report aims to provide an overview of the lithium battery market with detailed market segmentation by production, application, and geography. The global lithium battery market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading lithium battery market players and offers key trends and opportunities in the lithium battery market.
MARKET SEGMENTATION
The global lithium battery market is segmented based on product and application. Based on product, lithium battery market is segmented into LITHIUM COBALT OXIDE (LCO), LITHIUM IRON PHOSPHATE (LFP), LITHIUM NICKEL COBALT ALUMINUM OXIDE (NCA), LITHIUM MANGANESE OXIDE (LMO), LITHIUM TITANATE (LTO) and LITHIUM NICKEL MANGANESE COBALT (LMC). Based on application, lithium battery market is segmented into automobile, consumer electronics, industrial, energy storage systems, medical devices, and others.
IMPACT OF COVID-19 ON LITHIUM BATTERY MARKET
The COVID-19 pandemic has affected the growth of this market in 2021. The COVID-19 outbreak has limited battery supply. The main battery component is found mainly in the Asia-Pacific region, but the pandemic has highlighted the region's dependence on raw materials. Lithium and cobalt perform the main functions in battery cathodes and electrolytes. China dominates the production of components and controls about 80% of the global supply chain for these materials. Many countries around the world have imposed travel restrictions that have affected the flow of goods and many power plants around the world have been shut down, affecting the market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global Lithium Battery Market based on various segments. It also provides market size and forecast estimates from year 2017 to 2031 with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The Lithium Battery Market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting Lithium Battery Market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely, North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the lithium battery market in these regions.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global Lithium Battery Market based on various segments. It also provides market size and forecast estimates from year 2017 to 2031 with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The Lithium Battery Market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting Lithium Battery Market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely, North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the lithium battery market in these regions.
MARKET PLAYERS
The reports cover key developments in the lithium battery market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from lithium battery market are anticipated to lucrative growth opportunities in the future with the rising demand for lithium battery market. Below mentioned is the list of few companies engaged in the lithium battery market.
The report also includes the profiles of key lithium battery market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- BYD Company Ltd.
- Duracell Inc.
- Hitachi, Ltd.
- Johnson Controls
- LG Chem
- Panasonic Corporation
- Renault Group
- Samsung SDI Co., Ltd.
- Tesla
- TOSHIBA CORPORATION
The Insight Partner’s dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Lithium Battery Market - By Product
1.3.2 Lithium Battery Market - By Application
1.3.3 Lithium Battery Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. LITHIUM BATTERY MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. LITHIUM BATTERY MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. LITHIUM BATTERY MARKET - GLOBAL MARKET ANALYSIS
6.1. LITHIUM BATTERY - GLOBAL MARKET OVERVIEW
6.2. LITHIUM BATTERY - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. LITHIUM BATTERY MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
7.1. OVERVIEW
7.2. PRODUCT MARKET FORECASTS AND ANALYSIS
7.3. LITHIUM COBALT OXIDE (LCO)
7.3.1. Overview
7.3.2. Lithium cobalt oxide (LCO) Market Forecast and Analysis
7.4. LITHIUM IRON PHOSPHATE (LFP)
7.4.1. Overview
7.4.2. Lithium iron phosphate (LFP) Market Forecast and Analysis
7.5. LITHIUM NICKEL COBALT ALUMINUM OXIDE (NCA)
7.5.1. Overview
7.5.2. Lithium Nickel Cobalt Aluminum Oxide (NCA) Market Forecast and Analysis
7.6. LITHIUM MANGANESE OXIDE (LMO)
7.6.1. Overview
7.6.2. Lithium Manganese Oxide (LMO) Market Forecast and Analysis
7.7. LITHIUM TITANATE (LTO)
7.7.1. Overview
7.7.2. Lithium Titanate (LTO) Market Forecast and Analysis
7.8. LITHIUM NICKEL MANGANESE COBALT (LMC)
7.8.1. Overview
7.8.2. Lithium Nickel Manganese Cobalt (LMC) Market Forecast and Analysis
8. LITHIUM BATTERY MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. AUTOMOBILE
8.3.1. Overview
8.3.2. Automobile Market Forecast and Analysis
8.4. CONSUMER ELECTRONICS
8.4.1. Overview
8.4.2. Consumer Electronics Market Forecast and Analysis
8.5. INDUSTRIAL
8.5.1. Overview
8.5.2. Industrial Market Forecast and Analysis
8.6. ENERGY STORAGE SYSTEMS
8.6.1. Overview
8.6.2. Energy Storage Systems Market Forecast and Analysis
8.7. MEDICAL DEVICES
8.7.1. Overview
8.7.2. Medical Devices Market Forecast and Analysis
8.8. OTHERS
8.8.1. Overview
8.8.2. Others Market Forecast and Analysis
9. LITHIUM BATTERY MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Lithium Battery Market Overview
9.1.2 North America Lithium Battery Market Forecasts and Analysis
9.1.3 North America Lithium Battery Market Forecasts and Analysis - By Product
9.1.4 North America Lithium Battery Market Forecasts and Analysis - By Application
9.1.5 North America Lithium Battery Market Forecasts and Analysis - By Countries
9.1.5.1 United States Lithium Battery Market
9.1.5.1.1 United States Lithium Battery Market by Product
9.1.5.1.2 United States Lithium Battery Market by Application
9.1.5.2 Canada Lithium Battery Market
9.1.5.2.1 Canada Lithium Battery Market by Product
9.1.5.2.2 Canada Lithium Battery Market by Application
9.1.5.3 Mexico Lithium Battery Market
9.1.5.3.1 Mexico Lithium Battery Market by Product
9.1.5.3.2 Mexico Lithium Battery Market by Application
9.2. EUROPE
9.2.1 Europe Lithium Battery Market Overview
9.2.2 Europe Lithium Battery Market Forecasts and Analysis
9.2.3 Europe Lithium Battery Market Forecasts and Analysis - By Product
9.2.4 Europe Lithium Battery Market Forecasts and Analysis - By Application
9.2.5 Europe Lithium Battery Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Lithium Battery Market
9.2.5.1.1 Germany Lithium Battery Market by Product
9.2.5.1.2 Germany Lithium Battery Market by Application
9.2.5.2 France Lithium Battery Market
9.2.5.2.1 France Lithium Battery Market by Product
9.2.5.2.2 France Lithium Battery Market by Application
9.2.5.3 Italy Lithium Battery Market
9.2.5.3.1 Italy Lithium Battery Market by Product
9.2.5.3.2 Italy Lithium Battery Market by Application
9.2.5.4 United Kingdom Lithium Battery Market
9.2.5.4.1 United Kingdom Lithium Battery Market by Product
9.2.5.4.2 United Kingdom Lithium Battery Market by Application
9.2.5.5 Russia Lithium Battery Market
9.2.5.5.1 Russia Lithium Battery Market by Product
9.2.5.5.2 Russia Lithium Battery Market by Application
9.2.5.6 Rest of Europe Lithium Battery Market
9.2.5.6.1 Rest of Europe Lithium Battery Market by Product
9.2.5.6.2 Rest of Europe Lithium Battery Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Lithium Battery Market Overview
9.3.2 Asia-Pacific Lithium Battery Market Forecasts and Analysis
9.3.3 Asia-Pacific Lithium Battery Market Forecasts and Analysis - By Product
9.3.4 Asia-Pacific Lithium Battery Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Lithium Battery Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Lithium Battery Market
9.3.5.1.1 Australia Lithium Battery Market by Product
9.3.5.1.2 Australia Lithium Battery Market by Application
9.3.5.2 China Lithium Battery Market
9.3.5.2.1 China Lithium Battery Market by Product
9.3.5.2.2 China Lithium Battery Market by Application
9.3.5.3 India Lithium Battery Market
9.3.5.3.1 India Lithium Battery Market by Product
9.3.5.3.2 India Lithium Battery Market by Application
9.3.5.4 Japan Lithium Battery Market
9.3.5.4.1 Japan Lithium Battery Market by Product
9.3.5.4.2 Japan Lithium Battery Market by Application
9.3.5.5 South Korea Lithium Battery Market
9.3.5.5.1 South Korea Lithium Battery Market by Product
9.3.5.5.2 South Korea Lithium Battery Market by Application
9.3.5.6 Rest of Asia-Pacific Lithium Battery Market
9.3.5.6.1 Rest of Asia-Pacific Lithium Battery Market by Product
9.3.5.6.2 Rest of Asia-Pacific Lithium Battery Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Lithium Battery Market Overview
9.4.2 Middle East and Africa Lithium Battery Market Forecasts and Analysis
9.4.3 Middle East and Africa Lithium Battery Market Forecasts and Analysis - By Product
9.4.4 Middle East and Africa Lithium Battery Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Lithium Battery Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Lithium Battery Market
9.4.5.1.1 South Africa Lithium Battery Market by Product
9.4.5.1.2 South Africa Lithium Battery Market by Application
9.4.5.2 Saudi Arabia Lithium Battery Market
9.4.5.2.1 Saudi Arabia Lithium Battery Market by Product
9.4.5.2.2 Saudi Arabia Lithium Battery Market by Application
9.4.5.3 U.A.E Lithium Battery Market
9.4.5.3.1 U.A.E Lithium Battery Market by Product
9.4.5.3.2 U.A.E Lithium Battery Market by Application
9.4.5.4 Rest of Middle East and Africa Lithium Battery Market
9.4.5.4.1 Rest of Middle East and Africa Lithium Battery Market by Product
9.4.5.4.2 Rest of Middle East and Africa Lithium Battery Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Lithium Battery Market Overview
9.5.2 South and Central America Lithium Battery Market Forecasts and Analysis
9.5.3 South and Central America Lithium Battery Market Forecasts and Analysis - By Product
9.5.4 South and Central America Lithium Battery Market Forecasts and Analysis - By Application
9.5.5 South and Central America Lithium Battery Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Lithium Battery Market
9.5.5.1.1 Brazil Lithium Battery Market by Product
9.5.5.1.2 Brazil Lithium Battery Market by Application
9.5.5.2 Argentina Lithium Battery Market
9.5.5.2.1 Argentina Lithium Battery Market by Product
9.5.5.2.2 Argentina Lithium Battery Market by Application
9.5.5.3 Rest of South and Central America Lithium Battery Market
9.5.5.3.1 Rest of South and Central America Lithium Battery Market by Product
9.5.5.3.2 Rest of South and Central America Lithium Battery Market by Application
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. LITHIUM BATTERY MARKET, KEY COMPANY PROFILES
11.1. BYD COMPANY LTD.
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. DURACELL INC.
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. HITACHI, LTD.
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. JOHNSON CONTROLS
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. LG CHEM
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. PANASONIC CORPORATION
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. RENAULT GROUP
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. SAMSUNG SDI CO., LTD.
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. TESLA
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. TOSHIBA CORPORATION
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
The List Of Companies
- BYD Company Ltd.
- Duracell Inc.
- Hitachi, Ltd.
- Johnson Controls
- LG Chem
- Panasonic Corporation
- Renault Group
- Samsung SDI Co., Ltd.
- Tesla
- TOSHIBA CORPORATION
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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