Lithium
Ion Cell and Battery Pack Market Business Prospects and
Global Forecast by 2025
Global
Lithium Ion Cell and Battery Pack Market: Snapshot
The
lithium
ion cell and battery pack market is gaining momentum as
lithium-ion batteries offer advantages of higher efficiency and
longer lifespan over other batteries such as lead acid ones. The
rising demand for electronics with improved battery life and superior
performance is expected to stir demand for lithium-ion batteries
among manufacturers of consumer electronics. This is because
lithium-ion batteries satisfy the demand for high power density
needed by handheld devices for wireless data transmission and
brighter resolution.
The
increasing use of lithium ion batteries in barcode and RFID scanners
due to their high energy density is also influencing the growth of
lithium ion cell and battery packs market. Furthermore, the use of
these batteries is rapidly gaining momentum in automotive,
industrial, and energy sectors with the rising shift for sustainable
clean fuels.
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However,
factors such as high prices of lithium-ion batteries that make them
unsustainable for prolonged use such as in electric vehicles and
their lower thermal stability are restraining the market’s growth.
The
global lithium ion cell and battery pack market is expected to grow
at a CAGR of 12.0% between 2017 and 2025. The market stood at a
valuation of US$32.17 bn in 2016 and is expected to reach a valuation
of US$88.92 bn by 2025.
Consumer
Electronics Application Segment to Continue to Lead in Coming Years
In
terms of power capacity, the lithium ion cell and battery pack market
has been segmented into 5-25 Wh, 48-95 Wh, 18-28 KWh, 100-250 KWh,
more than 300 KWh. Among these, 100-250 KWh stood as the most
attractive segment in 2016 based on power capacity. The growth of
this segment is primarily driven by demand for high capacity
batteries for specific applications such as in high loading electric
vehicles. The 18-28 KWh and more than 300 KWh segments are also
expected to display considerable growth due to their applications in
grid energy production.
In
terms of pack type, series battery pack, parallel battery pack, and
others are the segments into which the lithium ion cell and battery
pack market is divided. The other battery pack stood as the leading
segment in 2016 commanding a share of 83.9% in the overall market.
The other battery pack segment is expected to lead throughout the
forecast period attributed to their extensive applications across
industry verticals. On the other hand, series and parallel battery
packs have lower market shares due to their specific applications.
On
the basis of shape, cylindrical, polygon, prismatic, and coin among
others are segments into which the lithium ion cell and battery pack
market is segmented.
By
application, the market has been segmented into consumer electronics,
medical, automotive, grid energy, and industrial among others.
Consumer electronics leads the lithium ion cell and battery pack
market with the segment holding 57.5% of the market in 2016. The
segment is expected to lead over the forecast period due to their
increasing application in consumer electronics.
Asia
Pacific Attracts Investments from Global Players
North
America, Asia Pacific, Europe, Latin America, and the Middle East and
Africa are the segments into which the lithium ion cell and battery
pack market is divided based on geography. In 2016, Asia Pacific
contributed the leading revenue of almost 72.3% to the overall market
in 2016. The expanding consumer electronics, automotive, and grid
energy supplies exhibit a substantial demand for lithium-ion
batteries is attracting investments from key market players.
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Some
of the top companies operating in the global lithium ion cell and
battery pack market are Panasonic Corporation, Samsung SDI Co. Ltd.,
Toshiba Corporation, Hitachi Chemical Co. Ltd., Automotive Energy
Supply Corporation, GS Yuasa International Ltd., Johnson Controls
Inc., Shenzhen BAK Battery Co. Ltd., Future Hi-Tech Batteries
Limited, Tianjin Lishen Battery Co. Ltd., Hunan Shanshan Toda
Advanced Materials Co. Ltd., LG Chem, Power Inc., Amperex Technology
Ltd., and Pulaed Technology Industry Co. Ltd. among others
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