The lithium-ion battery market is classified on the basis of power capacity, application, and region. The power capacity segment is further classified into 0 to 3,000 mAh, 3,000 mAh to 10,000 mAh, 10,000 mAh to 60,000 mAh, and more than 60,000 mAh. The application segment is further classified into consumer electronics, automotive, industrial, and others.
The lithium-ion battery market is expected to grow at a CAGR of 15.5% from 2018 to 2025 and is projected to reach USD 90.23 billion by 2025.
The factors that primarily drive of the lithium-ion battery market are the increase in adoption of lithium-Ion batteries in consumer electronics and electric vehicles. Increase in government policies and regulations to reduce the use of ICE vehicles are also expected to contribute to the growth of the lithium-ion battery market.
Key market players such as Panasonic Corporation, CATL, BYD, LG Chemicals, and Samsung are profiled to provide an insight into the competitive scenario of the global lithium-ion battery market.
Asia-Pacific is the largest and fastest growing region in the lithium-ion battery market. Countries such as China and Japan are the major industry players. This region experiences an increase in adoption of lithium-ion batteries in consumer electronics, electric vehicles, and industrial applications. The region hosts major battery manufacturing companies such as Panasonic, Samsung, and others. In addition, the presence of huge lithium reserves in China and Australia is expected to drive the Asia-Pacific lithium-ion battery market.
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On the basis of power capacity, the market for 10000 mAh to 60000mAh power capacity batteries is estimated to grow at the highest growth rate during the forecast period. The use of such batteries in electric vehicles and industrial application is on increase significantly, which is expected to drive the growth of this segment.
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On the basis of application, the automotive segment is estimated to grow at the highest growth rate during the forecast period. Growth in regulations to encourage the use of electric vehicles, from countries such as Germany and France is expected to increase the demand for Li-Ion batteries for the automotive segment.