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Global Lithium-Ion Battery Market Will Reach USD 67.70 billion by 2022

Lithium material on the periodic table. Part of a series.

Zion Market Research has published a new report titled “Lithium-Ion Battery Market by Power Capacity Segment, Lithium-Ion Battery Market Has Been Segmented Into 5–25 WH, 48-95 WH, 18–28 KWH, 100–250 KWH And More Than 300 KWH for Include Automotive, Aerospace and Defense, Consumer Electronics, Industrial And Others Application – Global Industry Perspective, Comprehensive Analysis and Forecast, 2016 – 2022”. According to the report, global lithium-ion battery market was valued at around USD 31.17 billion in 2016 and is expected to generate revenue of USD 67.70 billion by end of 2022, growing at a CAGR of slightly above 13.70% between 2017 and 2022.

A lithium ion battery is an electric device capable of charging and discharging. They are broadly used as a power supply consumer electronics as well as hybrid and electric vehicle. The four materials are used in lithium ion batteries are cathode material, anode material, separators, and an electrolytic solution. Lithium ion batteries markets grow at fastest rate due to its adoption in numerous consumer electronics such as smartphones, tablets, digital cameras and MP3 players, among others. Lithium-ion (Li-ion) batteries are one of the most popular batteries in the world due to the worldwide use of mobile phones and laptop computers. Furthermore, the demands for Li-ion batteries in the automobile industry due to increasing demand for electric vehicles.

The lithium-ion battery market is segmented by its power capacity into 5–25 Wh, 48-95 Wh, 18–28 KWh, 100–250 KWh and More than 300 KWh. 5-25 Wh segment is one of the leading segments of lithium-ion battery market which is accounted for over 32% of the total market in terms of revenue. 18-28 KWh segment is anticipated to grow at a significant rate within the forecast period.

A range of applications segments of lithium-ion battery market includes automotive, aerospace and defense, consumer electronics, industrial and others. Consumer electronics is the leading segments of lithium-ion battery market and accounted for the largest market share of the total market. This segment is expected to continue its dominance in the global market throughout the forecast period due to growing demand smartphone, tablet, and laptop.  Automotive and industrial are other key outlets of the market and expected to exhibit significant growth within the forecast period.

North America is one of the largest regional markets in the global lithium-ion battery market. Lithium-ion battery market is mainly driven by the rising demand for smartphones and other consumer electronics devices. U.S. is the key region in North America and plays a major role in the development of the future lithium-ion battery. In 2016, U.S. accounted for over 72% share of the regional revenue in this market and is expected to witness significant growth owing to increasing electric vehicle demand with growing adoption of high-quality consumer electronics products.

Asia Pacific is one of the fastest growing regional markets for lithium-ion battery and accounted for over 45% share of the total market. Government organization provides funding supports to several research projects in this field. Asia Pacific is expected to have significant growth during the years to come owing to strong demand for smartphones, tablets, and other mobile devices in the region. The intense growth in the electronics industry and continuous development in the automotive sector has led to increased application of lithium ion batteries in this region. China, Japan, India, and South Korea are well positioned to enter the field of lithium ion battery.

Europe is expected to show moderate growth during the forecast period due to technological advancement, rising consumer goods industry and increased adoption of multi-core technology. The considerable economic growth of countries the such UK, Germany, and France is projected to drive the lithium-ion battery market in the years to come. Germany is expected to witness show robust growth due to the high adoption of electric vehicles coupled with increasing consumer awareness towards environmentally friendly technologies.

In Latin America and the Middle East & Africa, lithium-ion battery market is in a nascent stage and expected to potential growth over the forecast period. Increasing application of rechargeable battery in various devices such as wearable devices, consumer electronics, packaging and others are driving the growth of lithium-ion battery market in this region. Consequently, both these regions are expected considerable growth with many growth opportunities.