Worldwide Lithium-ion Battery Market Insights, 2019 & 2020-2027, Featuring CBAK Energy Technology, GS Yuasa International, Hitachi, LG Chem, Lithium Werks and Others
DUBLIN, July 22, 2020 /PRNewswire/ -- The "Lithium-ion Battery Market by Component, End-use Industry and Industrial: Global Opportunity Analysis and Industry Forecast, 2019-2027" report has been added to ResearchAndMarkets.com's offering.
According to the report, the lithium-ion battery market was valued $36.7 billion in 2019, and is projected to reach $129.3 billion by 2027, at a CAGR of 18% from 2020 to 2027.
Various components such as cathode, anode, electrolytic solution, and others (foils, binders, and separators) are covered within the scope of the report. The cathode segment was the highest contributor to the market, however, the electrolytic solution segment is predicted grow at the fastest rate during the forecast period.
The global lithium-ion battery market is segmented by end-use industry into electrical & electronics, automotive, and industrial, with others which include medical, military, and textile industries. The electrical & electronics segment was the highest contributor to the market. Electrical & electronics end-use industry is further segmented into smartphones, tablet/PC, UPS, and others. The automotive segment is estimated to grow with a CAGR of 19.1% in the near future. The automotive end-use segment is further segmented into cars, buses, trucks, scooters & bikes, and trains & aircrafts, cranes & forklift, mining equipment, and smart grid & renewable energy storage.
Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific is expected to dominate the lithium-ion battery market during the analysis period, owing to rise in demand from consumer electronics segment and increase in number of electric vehicles (EVs) in China, Japan, and India. Lithium-ion batteries are extensively used in the automotive sector in North America and Europe. However, Asia-Pacific and LAMEA regions are expected to grow rapidly, owing to surge in adoption of these batteries in smartphones, tablets, and laptops/PCs.
Some of the key players operating in the global lithium-ion battery industry include 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. among others.
Several key players operating in the global lithium-ion battery market are constantly adopting several strategic moves such as business agreements, expansion plans, company mergers & acquisitions, along with various joint ventures, to enhance their position in the market. For instance, in September 2017, Maruti Suzuki India Ltd. collaborated with Toshiba and Denso to starta lithium-ion battery production facility in India. Toshiba is responsible for cell modules in this collaboration.
For more information about this report visit https://www.researchandmarkets.com/r/94lske
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