Lithium-ion Battery Market - Industry Dynamics, Market Size, And Opportunity Forecast To 2027

The global Lithium-ion Battery Market was valued at US$ 60,385.6 Mn in 2021 and is projected to reach US$ 1,85,040.3 Mn by 2027. The market is expected to register a CAGR of 20.5% during the forecast period 2022-2027. A lithium-ion battery is a rechargeable battery, which utilizes lithium ions as the essential component of its electrochemistry. Lithium-ion batteries have a wide range of applications right from heavy-duty vehicles to smartwatches and other daily used electronic gadgets. 

The market is driven by factors such as increasing demand for electric vehicles and the rising adoption of consumer electronics. The global appliance and consumer electronics (ACE) market is expected to grow at a CAGR of 12-15% during 2017-2027. Rising disposable income coupled with the need for internet usage has further boosted the demand for smart consumer electronics. Apart from the consumer electronics stream, the lithium-ion battery has major applications in the integration of renewable energy with grid technology, telecommunication, and even in aerospace. The increasing adoption of lithium-ion batteries is observed due to their capacity to hold significant power in small size and lightweight bodies.

However, lithium batteries have a risk of being outcompeted by other advanced technologies such as zinc batteries, flow batteries, and high-temperature batteries among others.

Report Summary

The study of the Global Lithium-ion Battery Market considers various market determinants, industry value chain analysis, and competitor analysis of the market. The report discusses the analysis of the lithium battery market for the period 2017-2027, where the base year is 2021 and the forecast period is 2022-2027. The report provides a detailed analysis of the Global Lithium-ion Battery Market across 15 Chapters and, 221 pages. The report includes data presentation across 45 tables and 111 statistical figures.

The report provides PESTLE analysis, which is a tool to examine the external market environment factors that have an impact on the industry. The PESTLE analysis examines the Political, Economic, Social, Technological, Environmental, and Legal factors in the external environment. Thus, sufficiently examining the threats and weaknesses of the industry. The research report also provides Porter’s five forces analysis wherein the threat of substitutes and bargaining power of buyers is high. Further, the report provides demand-supply gap analysis which includes consumer electronics sales, automotive sales, energy storage sales, and industry sales.

The subsequent section provides details of the market analysis based on different segments such as type, power capacity, application, form/ design, and region. The report includes a detailed study of manufacturing costs in the lithium-ion market. It includes a cost analysis of EV lithium-ion battery, cost analysis of consumer-grade lithium-ion battery, unit cost analysis of EV battery pack, and cell component cost analysis. The report also covers extensively the key competitors in the global lithium-ion battery market.

Key Takeaways from Global Lithium-ion Battery Market

• The global Lithium-ion Battery Market was valued at US$ 60,385.6 Mn in 2021 and is projected to reach US$ 1,85,040.3 Mn by 2027, registering a CAGR of 20.5% during the forecast period.
• Lithium Nickel Magnesium Cobalt (LI-NMC) batteries dominated the market in 2021. LI-NMC is one of the most successful cathode combinations. Also, this battery is the preferred candidate for electric vehicles such as Nissan Leaf, Chevy Volt, and BMW owing to its property of lowest self-heating rate.
• Among different capacities of lithium-ion batteries, the 3,000 – 10,000 mAH segment holds more than half of the market share as this range is majorly applicable in consumer electronics.
• The automotive OEMs segment holds the highest share in 2021 owing to the rising adoption of electric vehicles due to environmental concerns.
• The cylindrical design of lithium-ion batteries holds nearly 45% of the market share owing to ease in manufacturing and good mechanical stability. The design supports the battery to withstand high internal pressures without deforming.
• The Asia Pacific dominated the global lithium-ion battery market in 2021. Most of the market is held by players from countries like China and India, which have considerable potential for various applications of lithium-ion batteries. India Lithium-ion battery market is witnessing the highest growth in the APAC region at a CAGR of 21.8% during the forecast period.

Competitive Landscape

• BYD Lithium Battery Co. Ltd. is a part of BYD company, which is based in Shenzhen, China. The company controls about 7% of the world’s lithium mines and is the only company in the world that is linked from mines to batteries and further to electric vehicles.
• LG Chem was founded in 1947 with its headquarters in Seoul, Korea. The company’s businesses are categorized into basic materials & chemicals, life sciences, energy solutions, advanced materials, and IT & electronics materials.
• Panasonic Corporation was formerly known as Matsushita Electric Industrial co., Ltd. It is a Japan-based company that operates under four major business segments - appliance segment, eco-solutions segment, connected solutions segment, and automotive and industrial systems segment.
• Samsung SDI is a manufacturer of rechargeable batteries for the IT industry, automobiles, and energy storage systems (ESS), as well as cutting-edge materials used to produce semiconductors, displays, and solar panels.
• Hitachi Corporation was founded in 1962 and headquartered in Tokyo. The company provides business under system integration, system operation, monitoring, maintenance business, network service business, and sale and development of information-related equipment and software.
• Sony Corporation is a Japanese multinational corporation headquartered in Tokyo. The company operates as one of the world's largest manufacturers of consumer and professional electronic products, video game console company, video game publisher, record company, as well as one of the most comprehensive media companies

Segmentation Overview of the Global Lithium-ion Battery Market

Following are the different segments of the Global Lithium-ion Battery Market: - 

By Type Segment of the Global Lithium-ion Battery Market is Sub-Segmented into:

• Lithium Nickel Magnesium Cobalt (LI-NMC)
• Lithium Ferro Phosphate (LFP)
• Lithium Cobalt Oxide (LCO)
• Lithium Titanate Oxide (LTO)
• Lithium Manganese Oxide (LMO)
• Lithium Nickel Cobalt Aluminum Oxide (NCA)

By Power Capacity Segment of the Global Lithium-ion Battery Market is Sub-Segmented into:

• 0-300 mAH
• 3,000-10,000 mAH
• 10,000-60,000 mAH
• More than 60,000 mAH

By Application segment of the Global Lithium-ion Battery Market is Sub-Segmented into:

• Consumer Electronics OEMs
  • Smartphones
  • Laptops
  • UPS Systems
  • Smart Cameras
  • Smart Watches
  • Smart Glasses
  • Smart Textiles
  • Others
• Automotive OEMs
  • Hybrid Electric Vehicles (HEVs)
  • Battery Electric Vehicles (BEVs)
  • Others (Service Stations/Dealers)
• Energy Storage
  • Commercial
  • Industrial
  • Residential
  • Utilities
• Industrial OEMs
  • Military
  • Industrial Equipment
  • Medical
  • Marine
  • Telecommunication
  • Mining
  • Forklifts
  • Others
• Other OEMs
• Aftermarket

By Form/Design Segment of the Global Lithium-ion Battery Market is Sub-Segmented into:

• Pouch
• Cylindrical
• Elliptical
• Prismatic
• Custom Design

By Region Segment of the Global Lithium-ion Battery Market is Sub-Segmented into:

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • The UK
  • Germany
  • France
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia & New Zealand
  • Korea
  • ASEAN
  • Rest of Asia Pacific
• Middle East & Africa (MEA)
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA
• South America
  • Argentina
  • Brazil
  • Rest of South America