Lithium-ion Battery Market - Growth, Trends, and Forecasts (2020 - 2025)

The market is segmented by Application (Electronic Devices, Automobile, Industrial, and Other Applications) and Geography (North America (United States, Canada, and Rest of North America), Europe (Germany, Netherlands, Italy, and Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, and Rest of South America), and Middle East & Africa (United Arab Emirates, Saudi Arabia, Zimbabwe, South Africa, and Rest of Middle East & Africa))

Market Snapshot

Study Period:

2018-2025

Base Year:

2019

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

CAGR:

22.58 %

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Market Overview

The market for lithium-ion batteries is expected to register a CAGR of 22.58%, during the forecast period (2020-2025). Major factors driving the market studied are the emergence of new and exciting markets, via electric vehicle and energy storage systems (ESS), for both commercial and residential applications, declining lithium-ion battery prices, and the increasing sale of consumer electronics. However, the increasing demand-supply mismatch of raw materials is likely to hinder the growth of the market studied.

  • The industrial application dominated the market in 2019 and is expected to grow during the forecast period, due to its high energy density, fast recharge capability, and high discharge power, owing to which, the lithium-ion batteries are the only available technology that is capable of meeting OEM requirements.
  • Recycling of Li-ion batteries is expected to secure the supply of raw materials, such as lithium and cobalt, and reduce the reliance on extracting and refining materials from mineral resources. Recycling lithium-ion batteries currently being used in electric vehicles offer an excellent opportunity for companies to utilize the refined constituent materials for manufacturing lithium-ion batteries that are to be used for Energy Storage Systems (ESS).
  • Asia-Pacific dominated the market across the world, with the largest contribution coming from countries such as China and India.

Scope of the Report

The scope of the lithium-ion battery market report includes:

Application
Electronic Devices
Automobile
Industrial
Other Applications
Geography
North America
United States
Canada
Rest of North America
Asia-Pacific
India
China
Japan
South Korea
Rest of Asia-Pacific
Europe
Germany
Netherlands
Italy
Rest of Europe
Middle East & Africa
United Arab Emirates
Saudi Arabia
Zimbabwe
South Africa
Rest of Middle-East and Africa
South America
Brazil
Argentina
Chile
Rest of South America

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Key Market Trends

Industrial Segment is Expected to Dominate the Market

  • The penetration of lithium-ion batteries is growing in the industrial sector, globally, on account of expansion in industrial infrastructure, increasing economic viability of energy storage deployment, and growing need to reduce grid dependency for power supply.
  • Although pumped hydro storage dominates the total installed storage power capacity, battery-based electricity storage systems are developing rapidly, decreasing costs and improving performance.
  • Encouraging incentives are taken by the governments, such as net metering, have encouraged the installation of rooftop solar PV systems. Battery storage is an important part of the rooftop solar PV power generation process, as solar energy is intermittent and unavailable during the night.
  • The usage of lithium-ion battery-based solar home systems, off-grid solar lighting and charging products, and solar PV mini-grids have increased in the Asia-Pacific and African regions.
  • Massive investments, predominantly in lithium-ion batteries, are driving down costs, while project developers are continuously getting better at designing and building customized storage systems, which is expected further to supplement the usage of battery-based energy storage systems.

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Asia-Pacific Region to Dominate the Market

  • The Asia-Pacific region dominated the global market share in 2018. With the increasing deployment of electric vehicles in countries, such as China and India, and the high demand for electronics with urbanization and increasing power purchase parity, the usage of lithium-ion batteries is expected to witness significant growth in the region.
  • China is one of the largest markets for electric vehicles, and the increasing adoption of electric vehicles in the country has been in line with the clean energy policy. Moreover, the Government of China has been providing both financial and non-financial incentives to promote the adoption of electric vehicles.
  • Despite lack of prominent reserves or production of raw material, such as lithium and cobalt, India, in line with its aspiration to achieve 100% electric vehicle (EV) sales by 2030, is expected to emerge as a regional hotspot for global lithium-ion battery players, during the forecast period.
  • Favorable policies, such as the energy efficiency standards, and increasing peak demand charges and technological advances, have led to the commercial and industrial (C&I) sector receiving more attention from project developers, primarily driven by strong growth in China and India, which, in turn, is expected to drive the demand for lithium-ion-based energy storage systems in the region.

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Competitive Landscape

The lithium-ion battery market is fragmented, with several global and regional players contesting for attention in a fairly-contested market space. The major companies include Panasonic Corporation, Tesla Inc., Samsung SDI, LG Chem Ltd, and Contemporary Amperex Technology Co. Ltd (CATL).

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Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Scope of Study

    2. 1.2 Market Definition

    3. 1.3 Study Assumptions

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET OVERVIEW

    1. 4.1 Introduction

    2. 4.2 Lithium-ion Price Trend Analysis, till 2025

    3. 4.3 Market Size and Demand Forecast in USD billion, till 2025

    4. 4.4 Recent Trends and Developments

    5. 4.5 Government Policies and Regulations

    6. 4.6 Market Dynamics

      1. 4.6.1 Drivers

      2. 4.6.2 Restraints

    7. 4.7 Supply Chain Analysis

    8. 4.8 Porter's Five Forces Analysis

      1. 4.8.1 Bargaining Power of Suppliers

      2. 4.8.2 Bargaining Power of Consumers

      3. 4.8.3 Threat of New Entrants

      4. 4.8.4 Threat of Substitute Products and Services

      5. 4.8.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Application

      1. 5.1.1 Electronic Devices

      2. 5.1.2 Automobile

      3. 5.1.3 Industrial

      4. 5.1.4 Other Applications

    2. 5.2 Geography

      1. 5.2.1 North America

        1. 5.2.1.1 United States

        2. 5.2.1.2 Canada

        3. 5.2.1.3 Rest of North America

      2. 5.2.2 Asia-Pacific

        1. 5.2.2.1 India

        2. 5.2.2.2 China

        3. 5.2.2.3 Japan

        4. 5.2.2.4 South Korea

        5. 5.2.2.5 Rest of Asia-Pacific

      3. 5.2.3 Europe

        1. 5.2.3.1 Germany

        2. 5.2.3.2 Netherlands

        3. 5.2.3.3 Italy

        4. 5.2.3.4 Rest of Europe

      4. 5.2.4 Middle East & Africa

        1. 5.2.4.1 United Arab Emirates

        2. 5.2.4.2 Saudi Arabia

        3. 5.2.4.3 Zimbabwe

        4. 5.2.4.4 South Africa

        5. 5.2.4.5 Rest of Middle-East and Africa

      5. 5.2.5 South America

        1. 5.2.5.1 Brazil

        2. 5.2.5.2 Argentina

        3. 5.2.5.3 Chile

        4. 5.2.5.4 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Strategies Adopted by Leading Players

    3. 6.3 Company Profiles

      1. 6.3.1 BYD Company Limited

      2. 6.3.2 Contemporary Amperex Technology Co. Limited

      3. 6.3.3 LG Chem Ltd

      4. 6.3.4 Panasonic Corporation

      5. 6.3.5 Samsung SDI

      6. 6.3.6 Sony Corporation

      7. 6.3.7 Tesla Inc.

      8. 6.3.8 Tianjin Lishen Battery Joint-Stock Co. Ltd

  7. *List Not Exhaustive
  8. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

** Subject to Availability

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