Global Lithium-Ion Battery Market 2022-2028

Global Lithium-ion Battery Market Size, Share & Trends Analysis Report by Type (Lithium Cobalt Oxide (LCO), Lithium Manganese Oxide (LMO), Lithium Nickel Manganese Cobalt Oxide (LI-NMC), Lithium Iron Phosphate (LFP), and Other), By End-User (Automotive, Consumer Electronics, Industrial, and Others) Forecast Period (2022-2028)

The global lithium-ion battery market is anticipated to grow at a significant CAGR of 14.6%during the forecast period. The factor contributing to the growth of the market includes growing partnerships among major market players to further expand the production of lithium-ion batteries. For instance, In 2021, Green Evolve Private Ltd. (Grevol) announced the launch of cutting-edge lithium battery packs in partnership with Contemporary Amperex Technology Co. Ltd. (CATL) which is a global leader in lithium-ion battery development and manufacturing, for long-term cell procurement. The company will be using CATL cells for their upcoming cargo 3-wheeler (L5N) vehicles. Thus, Business expansion of major players by partnership collaboration among them has a positive impact on the market. However, the main concern associated with the production of lithium-ion batteries is its cost. The high cost of batteries is anticipated to restrain the market growth. The technology innovations to reduce the cost of these batteries with high power capacity can generate more opportunities in the lithium-ion battery market.

The global lithium-ion battery market is segmented based on the type, and end user. Based on the type, the market is segmented into lithium cobalt oxide (LCO), lithium manganese oxide (LMO), lithium nickel manganese cobalt oxide (LI-NMC), lithium iron phosphate (LFP), and other. Based on, the end-user the market is sub-segmented into the automotive, consumer electronics, industrial, and others. The above-mentioned segments can be customized as per the requirements. On the basis of end user, the industrial segment is anticipated to grow at a considerable growth rate owing to the increasing demand for lithium-ion batteries in industrial sector including power tools, cordless tools, marine equipment and machinery, agricultural machinery, industrial automation systems, aviation and others. For instance, in 2021, Johnson Controls announced the launch of its Lithium-Ion Risk Prevention System. The system is engineered to provide early-warning detection of battery failure in Lithium-Ion Energy Storage Systems (ESS) and other applications using Lithium-Ion batteries such as UPS systems in data centers and manufacturing facilities.

Geographically market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. Among these, North America is anticipated to grow at significant CAGR during the forecast period due to the growing demand for consumer electronics and the automotive industry. The presence of automotive market players, heavy investment for R&D activities for battery production, a large number of automotive sectors, are propelling the growth of the market in the region.

The major companies serving the global lithium-ion battery market include BYD Company Ltd., Contemporary Amperex Technology Co., Ltd., Solvay Group, Toshiba Corp., Umicore N.V., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, In 2022, Toshiba Corporation expanded its SCiB product offering with the launch of a 20Ah-HP rechargeable lithium-ion battery cell. The new cell delivers high energy and high power at the same time and is suited for heavy-load applications where high power input and output are essential, and for situations where battery cells must suppress heat and operate continuously

Research Methodology

The market study of the global lithium-ion battery market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives as possible, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research papers, and news blogs.
• Company websites and their product catalog.

The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. Global Lithium-ion Battery Market Research and Analysis by Type.
2. Global Lithium-ion Battery Market Research and Analysis by End-User.

The Report Covers

• Comprehensive research methodology of the global lithium-ion battery market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the global lithium-ion battery market.
• Insights about market determinants that are stimulating the global lithium-ion battery market.
• Detailed and extensive market segments with the regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.