The Lithium Ion Battery market report also sheds light on the supply chains and the changes in the trends of upstream raw materials and downstream traders.
NEW YORK, NY, UNITED STATES, April 11, 2022 /EINPresswire.com/ — The globe Lithium Ion Battery Market According to the latest Reports and Data report, the size is expected to reach US$113.89 billion in 2030, registering a 12.0% revenue CAGR during the forecast period. Market revenue growth is expected to be driven by increasing demand for smartphones and other electronic devices and the advent of electric vehicles. Also, the implementation of strict government regulations to control the increasing environmental pollution is expected to propel the revenue growth of the market over the forecast period. Strict government regulations such as E.g. stricter fuel economy and CO2 standards are driving the transition from internal combustion engines to electric vehicles (EVs). The demand for lithium-ion battery technology is increasing as change continues. With the development of EV infrastructure and government incentives, purchasing an EV is becoming more affordable, leading to high adoption of lithium-ion batteries.
Lithium-ion batteries have high electrochemical potential, giving them higher energy densities, making them perfect for smartphones. They also have a long service life, require little maintenance and are versatile. Due to the numerous benefits it offers, it is the preferred choice for use in smartphones and consumer electronics products. In addition, the batteries are easily scalable, so they can be used in both large installations and small packages. Therefore, the rising usage and benefits will drive the revenue growth of Lithium Ion Battery market during the forecast period.
The companies featured in the market report are BYD Co. Ltd., Samsung SDI Co., Ltd., Contemporary Amperex Technology Co. Limited (CATL), Panasonic Corporation, GS Yuasa Corporation, Hitachi, Ltd., Exide Technologies, Saft, Wanxiang Group Corporation and Lithium Werks BV
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Some key highlights from the report
• The cathode segment accounted for the largest share of sales in 2020. This is because the cathode is widely used in the manufacture of lithium-ion batteries. It is also used to make the positive electrodes for battery cells. Lithium ion batteries consist of cathode materials such as lithium iron phosphate, lithium cobalt oxide, lithium manganese oxide batteries and lithium nickel manganese cobalt oxide.
• The Lithium Cobalt Oxide (LCO) segment is expected to account for the largest revenue share in the global lithium ion battery market during the forecast period due to its extensive application in tablets, mobile phones, cameras, laptops and other consumer electronics items.
• The 10,000-60,000 mAh segment is expected to witness a rapid revenue growth rate in the global lithium-ion battery market during the forecast period. 10,000-60,000mAh lithium-ion batteries are used in applications that require high capacity, including electric vehicles, e-motorcycles, plug-in hybrid electric vehicles, marine, industrial trucks, robots, industrial, electronic cash registers, telecommunications systems, and others.
• The high segment (above 36V) accounted for the largest share of sales in the global lithium-ion battery market in 2020 due to characteristics such as longer life and safety. The largest contribution is also attributed to the growing demand for this type of voltage in marine, electric cars, military, energy and telecommunications, among others.
• The automotive segment is expected to register a significant revenue growth rate during the forecast period. Lithium-ion batteries are commonly used in battery-powered vehicles such as electric vehicles, e-bikes, and automated guided vehicles. EVs are classified into three types based on their energy source and application: battery electric vehicles (BEVs), hybrid electric vehicles (HEVs), and plug-in hybrid electric vehicles (PHEVs). The increasing acceptance and awareness of electric vehicles supports the revenue growth of the market.
• The Asia-Pacific market is expected to register the highest revenue share in the global lithium-ion battery market during the forecast period. With the increasing use of electric vehicles in countries like India, China and Japan, as well as the demand for high-quality rechargeable battery technologies due to urbanization and rising electricity off-take parity, lithium-ion batteries are expected to grow significantly in the region.
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For the purpose of this report, Reports and Data has segmented the global Lithium Ion Battery market by Component, Product Type, Power Type, Voltage, Industry Branch and Region:
Components Outlook (Revenue, $Bn; 2018-2030)
• Electrolyte solution
Product Type Outlook (Revenue, $Bn; 2018-2030)
• Lithium Cobalt Oxide (LCO)
• Lithium iron phosphate (LFP)
• Lithium Nickel Cobalt Aluminum Oxide (NCA)
• Lithium Manganese Oxide (LMO)
• Lithium Titanate Oxide (LTO)
• Lithium Nickel Manganese Cobalt Oxide (LI-NMC)
Power Type Outlook (Revenue, USD bn; 2018-2030)
• 60,000mAh and above
Tension Outlook (Revenue, $Bn; 2018-2030)
• Low (below 12V)
• Medium (12V – 36V)
• High (above 36V)
Industry Outlook (Revenue, $Bn; 2018-2030)
• Consumer electronics
Market Segmentation by Regions:
North America (USA, Canada)
Europe (UK, Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East and Africa (Saudi Arabia, UAE, South Africa, Rest of MEA)
The segmentation section includes detailed market share analysis for each product and application along with an accurate forecast of market growth during the forecast period. The report also explains in detail the consumption rate of each product and application along with an expected growth rate over the forecast period.
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To sum up the above, the report provides key insights into the Lithium Ion Battery market to allow the reader to gain a complete understanding of the global Lithium Ion Battery market through accurate estimates, a panoramic view of the market scenario, the competitive landscape can. Factors influencing the growth of the market, driving factors, restraints, the regulatory framework, growth prospects and opportunities, factors driving the market. The research study provides an in-depth insight into the industry to give the reader a competitive edge and help them formulate beneficial investment plans. The report provides a comprehensive overview of the market with facts on the past, present and future of the global lithium-ion battery market.
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