A comprehensive report, titled, “Lithium Ion Battery Market by Component (Cathode, Anode, Electrolytic Solution, and Others) and End-Use Industry (Electrical & Electronics, Automotive, and Industrial): Global Opportunity Analysis and Industry Forecast, 2018 – 2025”, was recently released by Allied Market Research. The report states that the global lithium ion battery market was valued at $30.19 billion in 2017 and is anticipated to reach $100.43 billion by 2025, growing at a CAGR of 17.1% during the forecast period, 2018-2025.
The growth of the lithium ion battery market is driven by a surge in demand for electric & hybrid cars, strict government regulations to mitigate air pollution, and increased adoption of smartphones and tablets. However, the risk of fire in electronic devices associated with lithium-ion batteries and its overall high price restrict market growth. Nonetheless, higher energy requirements of new consumer gadgets are expected to create lucrative opportunities for emerging market players in the near future.
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Cathode segment to remain the largest contributor to the global market
By component, the cathode segment occupied around one-third of the global market shares in 2017 and is expected to continue its dominance through 2025. However, the electrolytic solution segment is projected to register the highest growth during the forecast period.
Automotive segment to continue its dominance in the near future
By end-use industry, the automotive segment generated more than half of the market revenue in 2017, due to lithium ion batteries being the primary constituents in electric & hybrid vehicles. The segment is also poised to grow at the fastest CAGR of 17.4% through 2025, as rapid technological advancements have fueled the demand for these batteries.
Asia-Pacific to retain its global dominance through 2025
Asia-Pacific occupied about two-fifths of the global market share in 2017 and is projected to continue its dominance through 2025, owing to the growing sales of automobiles in developing economies such as India and China. However, North America region would register the fastest CAGR of 17.7% during the forecast period, owing to surge in product consumption in the automotive sector in the region.
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Key market players
The key players analyzed in the report include Automotive Energy Supply Corporation, Samsung SDI Co. Ltd., LITEC Co., Toshiba Corporation, China BAK Battery Co. Ltd., Panasonic Corporation, LG Chem Power (LGCPI), A123 Systems, Hitachi Chemical Co., Ltd., and GS Yuasa International Ltd. They have adopted different strategies including collaborations, joint ventures, partnerships, expansions, mergers & acquisitions, and others to gain a strong position in the industry.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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