Lithium-ion Battery Market Size, Share | Report 2023-2032
The global lithium-ion battery market was surpassed at USD 49.52 billion in 2022 and is expected to hit around USD 255.01 billion by 2032, growing at a CAGR of 17.81% from 2023 to 2032.
Key Pointers
Report Scope of the Lithium-ion Battery Market
| Report Coverage | Details |
| Market Size in 2022 | USD 49.52 billion |
| Revenue Forecast by 2032 | USD 255.01 billion |
| Growth rate from 2023 to 2032 | CAGR of 17.81% |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Companies Covered | GS Yuasa International Ltd.; BYD Company Ltd.; A123 Systems LLC; Hitachi, Ltd.; Johnson Controls; NEC Corporation; Panasonic Corporation; Duracell Inc.; Electrochemist; SK Innovation Co., Ltd; Energizer; CBAK Energy Technology; Tesla; Renault Group; Samsung SDI Co., Ltd.; Toshiba Corporation; LG Chem; Saft; Contemporary Ampere Technology Co., Limited |
The automobile sector is expected to witness significant growth owing to the rising adoption of electric vehicles. The worldwide registration of electric vehicles is anticipated to increase significantly over the forecast period. The U.S. emerged as the largest market in North America with a revenue share of over 75.0% in 2021. Increasing sales of electric vehicles in the U.S. owing to supportive federal policies, coupled with the presence of market players in the country, are expected to drive the demand for lithium-ion batteries in the U.S. over the forecast period.
The federal policies include the American Recovery and Reinvestment Act of 2009, which offer tax credits to consumers for purchasing electric vehicles. The new Corporate Average Fuel Economy standards (CAFE) mandate the fuel economy of passenger cars and light commercial vehicles plying on roads in the U.S., resulting in the surged adoption of electric vehicles in the country. Increasing demand for lithium-ion batteries in smartphones owing to their extended shelf life and enhanced efficiency is expected to drive the market. In addition, increasing demand for electric vehicles owing to growing consumer awareness regarding reducing global carbon emissions is expected to fuel market growth.
In addition, the decline in demand for lead-acid batteries owing to EPA regulations on lead contamination and resulting environmental hazards, coupled with the regulations on lead-acid battery storage, disposal, and recycling, has led to an increase in the demand for lithium-ion batteries in automobiles. Mexico has been the primary focus of the global automobile industry as companies worldwide are eyeing to invest in the country. It is the fourth-largest exporter in the automobile industry, after Germany, Japan, and South Korea. Growing automobile production in the country is anticipated to drive the demand for lithium-ion batteries.
COVID-19 has been a major restraint to the market growth owing to several factors including reducing operational costs by end-users, coupled with disruption in the availability of spare parts due to sluggish manufacturing activities and logistics issues. Battery providers have taken subsequent steps to ensure their services to end-users who have signed long-term contracts with them. Vendors are opting for digital tools and are following prescribed preventative measures including social distancing norms and the use of protective kits in case of on-site inspection and repair services required by end-users on a case-to-case basis.
Key Companies & Market Share Insights
The market is extremely competitive with key participants involved in R&D and constant product innovation. Several companies are engaged in new product development to improve their global market share. For instance, BYD and Panasonic hold a strong position on account of their increased manufacturing capacities and large distribution network. Some prominent players in the global lithium-ion battery market include:
Lithium-ion Battery Market Segmentations:
| By Product | By Application |
|
Lithium cobalt oxide (LCO) Lithium iron phosphate (LFP) Lithium Nickel Cobalt Aluminum Oxide (NCA) Lithium Manganese Oxide (LMO) Lithium Titanate (LTO) Lithium Nickel Manganese Cobalt (LMC) |
Automobile Consumer Electronics Industrial Energy Storage Systems Medical Devices |
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Lithium-ion Battery Market
5.1. COVID-19 Landscape: Lithium-ion Battery Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Lithium-ion Battery Market, By Product
8.1. Lithium-ion Battery Market, by Product, 2023-2032
8.1.1. Lithium cobalt oxide (LCO)
8.1.1.1. Market Revenue and Forecast (2020-2032)
8.1.2. Lithium iron phosphate (LFP)
8.1.2.1. Market Revenue and Forecast (2020-2032)
8.1.3. Lithium Nickel Cobalt Aluminum Oxide (NCA)
8.1.3.1. Market Revenue and Forecast (2020-2032)
8.1.4. Lithium Manganese Oxide (LMO)
8.1.4.1. Market Revenue and Forecast (2020-2032)
8.1.5. Lithium Titanate (LTO)
8.1.5.1. Market Revenue and Forecast (2020-2032)
8.1.6. Lithium Nickel Manganese Cobalt (LMC)
8.1.6.1. Market Revenue and Forecast (2020-2032)
Chapter 9. Global Lithium-ion Battery Market, By Application
9.1. Lithium-ion Battery Market, by Application, 2023-2032
9.1.1. Automobile
9.1.1.1. Market Revenue and Forecast (2020-2032)
9.1.2. Consumer Electronics
9.1.2.1. Market Revenue and Forecast (2020-2032)
9.1.3. Industrial
9.1.3.1. Market Revenue and Forecast (2020-2032)
9.1.3. Energy Storage Systems
9.1.3.1. Market Revenue and Forecast (2020-2032)
9.1.3. Medical Devices
9.1.3.1. Market Revenue and Forecast (2020-2032)
Chapter 10. Global Lithium-ion Battery Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Forecast, by Product (2020-2032)
10.1.2. Market Revenue and Forecast, by Application (2020-2032)
10.1.3. U.S.
10.1.3.1. Market Revenue and Forecast, by Product (2020-2032)
10.1.3.2. Market Revenue and Forecast, by Application (2020-2032)
10.1.4. Rest of North America
10.1.4.1. Market Revenue and Forecast, by Product (2020-2032)
10.1.4.2. Market Revenue and Forecast, by Application (2020-2032)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Product (2020-2032)
10.2.2. Market Revenue and Forecast, by Application (2020-2032)
10.2.3. UK
10.2.3.1. Market Revenue and Forecast, by Product (2020-2032)
10.2.3.2. Market Revenue and Forecast, by Application (2020-2032)
10.2.4. Germany
10.2.4.1. Market Revenue and Forecast, by Product (2020-2032)
10.2.4.2. Market Revenue and Forecast, by Application (2020-2032)
10.2.5. France
10.2.5.1. Market Revenue and Forecast, by Product (2020-2032)
10.2.5.2. Market Revenue and Forecast, by Application (2020-2032)
10.2.6. Rest of Europe
10.2.6.1. Market Revenue and Forecast, by Product (2020-2032)
10.2.6.2. Market Revenue and Forecast, by Application (2020-2032)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Product (2020-2032)
10.3.2. Market Revenue and Forecast, by Application (2020-2032)
10.3.3. India
10.3.3.1. Market Revenue and Forecast, by Product (2020-2032)
10.3.3.2. Market Revenue and Forecast, by Application (2020-2032)
10.3.4. China
10.3.4.1. Market Revenue and Forecast, by Product (2020-2032)
10.3.4.2. Market Revenue and Forecast, by Application (2020-2032)
10.3.5. Japan
10.3.5.1. Market Revenue and Forecast, by Product (2020-2032)
10.3.5.2. Market Revenue and Forecast, by Application (2020-2032)
10.3.6. Rest of APAC
10.3.6.1. Market Revenue and Forecast, by Product (2020-2032)
10.3.6.2. Market Revenue and Forecast, by Application (2020-2032)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Product (2020-2032)
10.4.2. Market Revenue and Forecast, by Application (2020-2032)
10.4.3. GCC
10.4.3.1. Market Revenue and Forecast, by Product (2020-2032)
10.4.3.2. Market Revenue and Forecast, by Application (2020-2032)
10.4.4. North Africa
10.4.4.1. Market Revenue and Forecast, by Product (2020-2032)
10.4.4.2. Market Revenue and Forecast, by Application (2020-2032)
10.4.5. South Africa
10.4.5.1. Market Revenue and Forecast, by Product (2020-2032)
10.4.5.2. Market Revenue and Forecast, by Application (2020-2032)
10.4.6. Rest of MEA
10.4.6.1. Market Revenue and Forecast, by Product (2020-2032)
10.4.6.2. Market Revenue and Forecast, by Application (2020-2032)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Product (2020-2032)
10.5.2. Market Revenue and Forecast, by Application (2020-2032)
10.5.3. Brazil
10.5.3.1. Market Revenue and Forecast, by Product (2020-2032)
10.5.3.2. Market Revenue and Forecast, by Application (2020-2032)
10.5.4. Rest of LATAM
10.5.4.1. Market Revenue and Forecast, by Product (2020-2032)
10.5.4.2. Market Revenue and Forecast, by Application (2020-2032)
Chapter 11. Company Profiles
11.1. BYD Company Ltd.
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. Duracell Inc.
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. Hitachi, Ltd.
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. Johnson Controls
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. LTE Scientific
11.5. LG Chem
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. Panasonic Corporation
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. Renault Group
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. Samsung SDI Co., Ltd.
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. Tesla
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. TOSHIBA CORPORATION
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers