Lithium-ion (Li-ion) batteries are rechargeable batteries with high energy density and are mainly used in portable equipment. The market for these batteries is expected to witness a significant growth owing to their increasing use in smartphones, tablets/PCs, digital cameras, and power tools. Moreover, the demand for Li-ion batteries in the automobile industry is expected to increase with the increasing demand for electric vehicles. These batteries have gained popularity among the automobile manufacturers as they offer an alternative to nickelmetal batteries used in electric vehicles, due to their small size and light weight. Thus, the increasing demand for electrical vehicle (EV), hybrid electric vehicle (HEV) and plug-in hybrid vehicle (PHV) would foster the adoption of Li-ion batteries. Furthermore, the growing demand for smartphones, tablet and other sleeker portable electronic devices would fuel the demand of these batteries. However, longer charging times of these batteries used in EV/PHV vehicles and their high price are the key factors, likely to restrict the market growth.
Increasing energy requirements by consumer gadgets due to continuous increase in the number of features are likely to create numerous growth opportunities for the players operating in the market. With technological advancements, prominent market players are manufacturing various lithium-ion batteries with higher capacity to cater to the increasing demands of the battery users.
The market is segmented on the basis of material type, industry vertical, and geography. The material type segment is bifurcated into cathode, anode, electrolytic solution, and others (foils, binders, and separators). The industry vertical segment is categorized into electronics, automotive, industrial, and others (medical, military, and textile). Based on geography, the lithium-ion market is segmented into North America, Europe, Asia-Pacific, and LAMEA based on geography.
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Some of the key players operating in this market includes Automotive Energy Supply Corporation, Panasonic Corporation, Samsung SDI Co. Ltd., LG Chem Power (LGCPI), LITEC Co., Ltd., A123 Systems, LLC., Toshiba Corporation, Hitachi Chemical Co., Ltd., China BAK Battery Co. Ltd., and GS Yuasa International Ltd.
LITHIUM-ION BATTERY MARKET KEY SEGMENTS:
The market is segmented on the basis of material type, industry vertical, and geography.
BY MATERIAL TYPE
BY INDUSTRY VERTICAL
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