Lithium-Ion Battery Market Worth $93.1 Billion by 2025 | CAGR: 17.0%: Grand View Research, Inc.
SAN FRANCISCO, September 20, 2017 /PRNewswire/ --
The global lithium-ion battery market [http://www.grandviewresearch.com/industry-analysis/lithium-ion-battery-market?utm_source=Paid_PR&utm_medium=Referral&utm_campaign=PRNewswire_20sep&utm_term=RD&utm_content=RD ] is expected to reach USD 93.1 billion by 2025, growing at a CAGR of 17.0%, according to a new report by Grand View Research, Inc. Increased usage of lithium-ion batteries in electric vehicles, portable consumer electronics and grid storage systems owing to its high energy density and high safety level is expected to drive market demand.
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Lithium-ion batteries are used in applications that require lightweight and high-energy density solutions. These batteries provide the highest energy density per weight and are mostly used in cellular phones, notebook computers, and hybrid automobiles.
Technological advancements to reduce the weight of batteries, cost and increase their power output, is expected to augment industry expansion. In addition, competent distribution channels are likely to be an important way to gain a competitive advantage.
Energy storage system is expected to witness the fastest growth over the forecast period at a CAGR of 21% from 2017 to 2025 owing to the developments in wind and solar PV in countries including Germany, China and U.S.
Asia Pacific was the dominant market and accounted for 48.3% of the global share in 2016. The region is expected to show substantial rise on account of implementation of government policies to promote electric vehicles in India & China.
Moreover, presence of key energy generation companies in China including China Guangdong Nuclear Power Group, China National Nuclear Corporation, Shenergy Group, and Shenhua Group is expected to propel industry growth.
Browse full research report with TOC on "Lithium-Ion Battery Market Analysis By Product (Lithium Cobalt Oxide, Lithium Iron Phosphate, NCA, LMO, LTO, Lithium Nickel Manganese Cobalt (NMC)), By Application, And Segment Forecasts, 2014 - 2025" at: http://www.grandviewresearch.com/industry-analysis/lithium-ion-battery-market [http://www.grandviewresearch.com/industry-analysis/lithium-ion-battery-market?utm_source=Paid_PR&utm_medium=Referral&utm_campaign=PRNewswire_20sep&utm_term=RD&utm_content=RD ]
Further key findings from the report suggest:
- Lithium cobalt oxide (LCO) was the dominant product segment and was valued at USD
7.15 billion in 2016 on account of its high usage in mobile phones, tablets, laptops,
cameras as it offers high energy density and high safety level. However, its
relatively short life span, low thermal stability and limited load capabilities is
likely to act as restrain to demand.
- Growing adoption of solar power systems and e-bikes in UK, Germany, and Netherlands
will stimulate industry growth. Growing lithium-ion battery demand in Germany, Spain,
Italy, France and the UK is expected to have a positive impact over the forecast
period.
- Consumer electronics was the largest application segment and accounted for 52.3% of
the overall share in 2016. The increasing demand for portable devices including
mobiles, and tablets in China and India is expected to drive demand.
- North America was the second largest market and accounted for 25.9% of the overall
revenue in 2016 and is anticipated to show substantial growth considering increasing
sales of electric vehicles and smart phones.
- The industry is highly competitive with the presence of major players including
Panasonic Corporation, Hitachi Chemical Co., Ltd., GS Yuasa International Ltd.,
Samsung SDI Co., Ltd., LG Chem, and BYD.
- In March 2016, Daimler AG invested USD 586.7 million to install second lithium-ion
batteries facility in Germany for electric vehicles and hybrids under the
Mercedes-Benz brand
- In January 2016, Nissan invested USD 31.0 million to manufacture future-generation
electric vehicle batteries at its advanced lithium-ion battery plant in Sunderland
Browse related reports by Grand View Research:
- Battery Raw Material Market -
http://www.grandviewresearch.com/industry-analysis/battery-raw-material-market
- Energy Storage Market -
http://www.grandviewresearch.com/industry-analysis/energy-storage-market
- Gasification Market -
http://www.grandviewresearch.com/industry-analysis/gasification-market
- Penstock Market -
http://www.grandviewresearch.com/industry-analysis/penstock-market
Grand View Research has segmented the global lithium-ion battery market on the basis of product, application, and region:
- Product Outlook (Revenue, USD Million, 2014 - 2025)
- 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
- Application Outlook (Revenue, USD Million, 2014 - 2025)
- Automotive
- Consumer Electronics
- Industrial
- Energy Storage Systems
- Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- U.S.
- Europe
- Germany
- UK
- Asia Pacific
- China
- India
- Central & South America
- Brazil
- Middle East & Africa
Read Our Blog By Grand View Research: http://www.grandviewresearch.com/blogs/energy-and-power
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: +1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Web: http://www.grandviewresearch.com
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SOURCE Grand View Research, Inc.
