Lithium-Ion Batteries Industry Outlook, 2020-2030: Sales Witnessing a Boost due to Declining Prices

DUBLIN, April 1, 2020 /PRNewswire/ -- The "Lithium-Ion Batteries Global Market Report 2020" report has been added to's offering.

The global lithium-ion batteries market was worth $31.36 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 18.16% and reach $61.14 billion by 2023.

This report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider lithium-ion (li-ion) batteries market, and compares it with other markets.

Safety concerns towards lithium-ion batteries is the major challenge faced by the lithium-ion batteries market. Lithium-ion batteries generate large amounts of energy, associated with the risk of explosion or fire. The temperature in lithium-ion batteries should never rise above 130C which may lead to thermal runaway. Major causes of failure in lithium-ion batteries can be a puncture, overcharge, overheating, short circuit, internal cell failure, and deficiencies in the manufacturing process. For example, the United States Federal Aviation Administration (FAA) reported around 206 airport Li-ion battery explosion incidents between March 1991 and January 2018. Several Tesla Model S sedans caught fire after battery shield getting damaged by road debris in 2013. Therefore, inadequate safety in lithium-ion batteries hindering the lithium-ion batteries market's growth.

The growth of the lithium-ion batteries market is mainly driven due to the presence of high energy density features in lithium-ion batteries. High energy density helps the lithium-ion battery to run for a longer period. Most of the lithium-ion batteries used in portable devices are cobalt-based which offers the highest energy density. The energy density of the lithium-ion batteries is 100-265 Wh/kg or 250-670 Wh/L, which is one of the highest energy densities of any battery technology. High energy density in a lithium-ion battery made it the most preferred battery to be used in mobile phones, laptops, cameras and automobiles. Therefore, positively impacting the lithium-ion battery market's growth.

Declining lithium-ion battery prices boosts the sales of lithium-ion batteries. Change in materials technology, manufacturing processes, overhead costs, and huge investments in lithium-ion battery industry contributed to the reduction in lithium-ion battery prices. Lithium-ion battery prices with combined cost for cell and pack have dropped down by 73% from US$650 in 2013 to US$176 per KWh in 2018, and according to Navigant Consulting Research report, it is estimated to reach US$76 per kWh by 2030.

In February 2019, Royal Dutch Shell, a British-Dutch oil and gas company acquired Sonnen, a German home energy-storage startup for an undisclosed amount. The acquisition improves Sonnen's ability to compete with Tesla, Samsung and LG in Europe, US, Australia and all markets where rooftop solar installations are increasingly popular. Sonnen has installed over 40,000 battery packs in homes around the world. It uses lithium-iron-phosphate batteries, which are known to be cheaper and longer lasting than the nickel-cobalt-manganese batteries that Tesla uses for both electric cars and home energy-storage systems.

Major players in the market are A123 Systems, Automotive Energy Supply Corp, LG Chem, Panasonic, Samsung SDI, Toshiba, BYD, Automotive Energy Supply Corp, Contemporary Amperex Technology, and Johnson Controls.

Key Topics Covered

1. Executive Summary

2. Lithium-ion (Li-ion) Batteries Market Characteristics

3. Lithium-ion (Li-ion) Batteries Market Size and Growth
3.1. Global Lithium-ion (Li-ion) Batteries Historic Market, 2015 - 2019, $ Billion
3.1.1. Drivers of the Market
3.1.2. Restraints on the Market
3.2. Global Lithium-ion (Li-ion) Batteries Forecast Market, 2019 - 2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers of the Market
3.2.2. Restraints on the Market

4. Lithium-ion (Li-ion) Batteries Market Segmentation
4.1. Global Lithium-ion (Li-ion) Batteries Market, Segmentation by Power Capacity, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

    --  0 to 3000 Mah
    --  3000 to 10000mAH
    --  10000 to 60000 Mah
    --  Above 60000mAH

4.2. Global Lithium-ion (Li-ion) Batteries Market, Segmentation by Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

    --  Consumer Electronics
    --  Automotive
    --  Marine
    --  Aerospace & Defense
    --  Medical
    --  industrial
    --  Power
    --  Others

5. Lithium-ion (Li-ion) Batteries Market Regional and Country Analysis

Companies Mentioned

    --  A123 Systems
    --  Amperex Technology (ATL)
    --  Automotive Energy Supply Corp.
    --  Aviation Industry Corporation of China
    --  BAK Group
    --  Blue Energy
    --  BYD
    --  CBAK Energy Technology
    --  Comtemporary Amperex Technology

    --  and more...

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