Lithium-Ion Battery Market Share to Hit $71.04 Billion, by 2025 | Rising Demand for Electric Vehicles – Global Report by The Insight Partners

New York, Nov. 24, 2022 (GLOBE NEWSWIRE) -- According to The Insight Partners' new study "Lithium-ion Battery Market Size, Share and Growth Forecasts to 2025 - Global Analysis and Forecasts Type (Lithium Cobalt Oxide, Lithium Iron Phosphate, Lithium Nickel Manganese Cobalt Oxide, Lithium Manganese Oxide, Lithium Titanate Oxide), by Power Capacity (0 - 3000mAh, 3000 - 10000mAh, 10000mAh - 60000mAh, and >60000mAh), by Application (Consumer Electronics, Automotive, Industrial, Energy Storage Systems, Aerospace & Defense, Medical Devices, and Others)", The global lithium-ion battery market growth is fuelled by increase in need and demand for electric vehicles, surge in volume of consumer electronic devices globally and continuous investment towards development of improved efficiencies of Li-ion batteries. The Asia-Pacific Lithium-ion battery market is expected to grow with a attractive CAGR growth rate of 14.6% from 2018 to 2025.

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Global Lithium-Ion Battery Market – Report Scope:

Global Lithium-ion Battery Market: Competitive Landscape and Key Developments

Tesla Motors Inc., Panasonic Corporation, Toshiba Corporation, Samsung SDI Co. Ltd., Automotive Energy Supply Corporation, Hitachi Chemical Co. Ltd., LG Chem Ltd., GS Yuasa Corporation, A123 Systems LLC, and Johnson Controls International Inc. are among the leading players profiled in the lithium-ion battery market report. Several other essential market players were analyzed for a holistic view of the market and its ecosystem. The report provides detailed market insights, which help the key players strategize their growth. A few developments under Lithium-ion battery market are mentioned below:

• In 2018, Toshiba Infrastructure Systems & Solutions Corporation and Companhia Brasileira de Metalurgia e Mineração signed joint research and development agreement on the development of anode material for lithium-ion batteries using Niobium Titanium Oxide (NTO).

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• In 2017, Samsung SDI Completed EV Battery Plant Construction in Hungary, which is involved in production of high-power and high-efficiency batteries designed using state-of-art technology.

Lithium-Ion Battery Market Growth Drivers:

Emergence of Novel Technologies to Upgrade Existing Materials in Li-Ion Batteries to Provide Lucrative Opportunities for Lithium-ion Battery Market Growth During (2019-2025).

The Lithium-ion Battery that is used for energy storage and power provisioning to various industry verticals is currently experiencing very high adoptions especially by the automotive and consumer electronics industry verticals. Advantages such as higher energy efficiency, and extended battery life provided by these batteries are leading to wider adoptions. In the current scenario almost all the computer electronics, smartphones, tablets, and other consumer electronic devices are powered by a Lithium-ion battery. The development of advanced energy storage technologies is a critical factor in the success of the decarbonization of modern economies. Over the last few years, they have played a major role in the growth and evolution of the energy, automotive and electronic appliances sectors. While multiple technologies exist encompassing pump-hydro, compressed air, flywheels and batteries; Li-ion technologies have provided the energy and power requirements to meet the technical demands of these three sectors.

Surge in volume of Consumer Electronic Devices Globally

A lithium-ion battery is a type of rechargeable battery with greater stability and safety along with more energy capacity compared to other commercially available batteries. The production on a lithium-ion battery is ramping up owing to the surging demand from electric vehicles, consumer electronics, and energy storage systems. It is extensively used in a wide range of electronic devices such as mobile phones, laptops, iPods, and PDA's including many others. Also, uses of lithium-ion battery comprise of radio-controlled hobby vehicles, notebooks, portable vaporizer, drones, and UAV. Currently, connected and smart consumer products are much in demand as compared to simple electronic products and purely mechanical devices. However, in such smart devices battery is the key power capacity taken into consideration while designing products. As a result, Li-ion batteries are the popular choice for consumer electronic products owing to their design flexibility, recharge ability, and ease of getting fit in a custom size. Thus, the Lithium-ion batteries is poised to provide numerous profitable business opportunities for the market players in the coming years.

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The Lithium-ion battery market growth in North America is mainly driven by increased developments in terms of modern technology adoption, the standard of living, infrastructure, and many others. Across North America, the technological advancements have led to highly competitive markets. With the rising demand from the customer for high-quality services and products, companies are constantly innovating to serve their customer in the best possible way. Being a technologically advanced country, coupled with high disposable incomes with individuals, the consumer electronics industry has blossomed in the region. The density of consumer electronic devices in the region is quite high. Smartphones, tablets, Personal Computers, music players, DVD players, Television sets, washing machines and other home based electronic devices have found a wider user base in North America. Lithium-ion batteries provide extended battery lives and higher energy efficiencies in these consumer electronic devices and hence, higher number of device manufacturers in the North American region are integrating Lithium-ion batteries. General Electric, Alpine Electronics, Apple, Inc., BBK Electronics, Harman International, and HP Inc. are some of the major consumer electronics manufacturers in North America.

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Lithium-ion battery Market: Industry Overview

The Lithium-ion battery market has been segmented on the basis of type, power capacity, application, and geography. Based on type, the Lithium-ion battery market is segmented into lithium cobalt oxide batteries, lithium iron phosphate batteries, lithium nickel manganese cobalt oxide batteries, lithium manganese batteries, lithium titanate oxide batteries and others. In terms of power capacity, the Lithium-ion battery market is segmented into 0 – 3000mAh, 3000mAh – 10000mAh, 10000 – 60000mAh, and >60000mAh. Based on application, the Lithium-ion battery market is segmented into consumer electronics, automotive, industrial, energy storage systems, aerospace & defense, medical & healthcare, and others. Based on geography, the Lithium-ion battery market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM).

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