Global Lithium Ion Battery Market Report 2022: Requirement
Dublin, Sept. 30, 2022 (GLOBE NEWSWIRE) — The “Lithium Ion Battery Market by Type (Lithium Nickel Manganese Cobalt Oxide (LI-NMC), Lithium Iron Phosphate (LFP), Lithium Cobalt Oxide (LCO)) , Capacity, Voltage, Industry (Consumer Electronics, Automotive, Aerospace) – Global Forecast to 2031 report” has been added to from ResearchAndMarkets.com offer.
The lithium-ion battery market size is expected to grow from USD 44.5 billion in 2022 to USD 135.1 billion by 2031; it is expected to grow at a CAGR of 13.1% from 2022 to 2031. The major growth factors of the lithium-ion battery market are the growing demand for lithium-ion batteries from rechargeable vehicles and the renewable energy sector and the progress observed in smart electronic devices that deploy lithium-ion batteries; and thus provides various benefits to industries.
Lithium iron phosphate is expected to grow at a significant rate, followed by lithium nickel manganese cobalt oxide from 2022 to 2031.
Lithium Iron Phosphate battery type is expected to register the second highest growth rate over the forecast period. Due to its high power density, this technology is used in medium power traction applications (AGV, E-mobility) and heavy duty applications (marine traction, industrial vehicles, etc.). The long life of LFP batteries and the possibility of deep cycling make them suitable for energy storage applications (stand-alone applications, off-grid systems) or stationary use in general.
0-3000 mAh to hold the second largest market share in 2021.
The 0-3000mAh capacity range is the most popular and demanded in the market. Approximately 90% of consumer electronics applications deploy batteries with a capacity between 0 and 3000 mAh, as lower capacity batteries are potentially more durable power sources for consumer electronics and are light and laptops. O-3000 mAh is the most popular. type of lithium-ion battery in the consumer electronics industry.
Adoption of weak batteries (12 V) in small applications.
Sub-12V batteries are widely used in electric vehicles and solar power systems and in marine, military, telecommunications, trolling motor and deep cycle applications due to their various benefits. These batteries are preferred over other variants because they have the highest energy density with the lightest possible weight.
The energy sector is estimated to hold the largest CAGR during the forecast period.
Energy industry holds the largest CAGR in lithium-ion battery market from 2022 to 2031. Energy is one of the major necessities and is crucial for the economic growth and well-being of a nation . Conventional energy sources are coal, natural gas, crude oil, etc., and unconventional sources are wind, solar, etc. Countries around the world are focused on achieving net zero carbon emissions. conventional energy sources. These energies require huge storage systems, and lithium-ion batteries offer the ideal solutions for storage. Lithium-ion battery energy storage systems allow grid operators to save electricity when there is a surplus of renewable energy.
- Growing adoption of plug-in vehicles
- Requirements for battery-powered material handling equipment
- Advances in smart electronic devices
- Adoption in the renewable energy sector
- Growing concerns about the transportation and storage of used batteries
- Adoption in new applications due to falling prices
- Increase R&D for progress
- Excessive battery heating
- Rising cost of battery-powered industrial vehicles
- Aging lithium-ion batteries
Main topics covered:
2 Research methodology
3 Executive summary
4 premium previews
5 Market Overview
6 Lithium Ion Battery Market, By Material
7 Lithium-Ion Battery Market, By Product Type
8 Lithium-Ion Battery Market, by Type
9 Lithium Ion Battery Market, By Capacity
10 Lithium-Ion Battery Market, By Voltage
11 Lithium-Ion Battery Market, By Industry
12 Lithium-Ion Battery Market, by Region
13 Competitive landscape
14 company profiles
15 adjacent and related markets
- Limited Amperex Technology
- BAK Power Battery Co., Ltd.
- BYD Company Ltd.
- Contemporary Amperex Technology Co., Limited.
- Enerdel, Inc.
- Envision Groupe Aesc Ltée
- Farasis Energy (Ganzhou) Co., Ltd.
- GS Yuasa International Ltd.
- Guoxuan High Tech Co., Ltd.
- Hitachi Ltd.
- Ipower Batteries Pvt Ltd
- LG Chemistry
- Lithium Energy Japan
- Nextera Energy, Inc.
- Other players
- Panasonic Holdings Corporation
- Samsung Sdi Co.Ltd
- Sila Nanotechnologies Inc.
- Tesla, Inc.
- Toshiba Company
- Varta AG
For more information on this report visit https://www.researchandmarkets.com/r/nopamm
Global lithium-ion battery market