Categories: Energy and Power

global lithium ion battery market to grow at a CAGR of 10.9% during the period 2016-2024 – Planet Market Reports

Global Lithium Ion Battery Market
Market Overview
Lithium ion batteries has revolutionized the microelectronics and become the choice for portable electronic devices and highly efficient electric devices. The major advancement in the portable consumer electronics market is due to the higher and efficient energy density offered by these batteries compared to other rechargeable systems. Rapidly growing smartphones market has significantly driven the growth of lithium ion batteries in past few years, which is expected to grow considerably in coming years as the consumer electronic technology is getting more sophisticated which requires efficient battery backups.
Planet Market Reports analyst forecast the global lithium ion battery market to grow at a CAGR of 10.9% during the period 2016-2024. Further, the global lithium ion battery market is predicted to reach USD 41.3 billion by the end of forecast period.
Covered in this global lithium ion battery market report
The report covers the present ground scenario and the future growth prospects of the global lithium ion battery market for 2016-2024 along with the total sales of lithium ion battery products in every region. We calculated the market size and revenue share on the basis of revenue generated from the sales of lithium ion battery to various end user industries across the globe.
Global Lithium Ion Battery Market Segmentation
By Power Rating
5–25 Wh
48–95 Wh
18–28 KWh
100–250 KWh
More than 300 KWh
By End Users
Consumer Electronics
Automotive
Grid Energy & Industrial
Other Defense and Aerospace
By Geography

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North America US, Canada Lithium Ion Battery Market
Europe UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe Lithium Ion Battery Market
Middle East and Africa GCC Countries, North Africa, South Africa and Rest of Middle East & Africa Lithium Ion Battery Market
Latin America Brazil, Mexico and Rest of Latin America Lithium Ion Battery Market
Asia Pacific China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific Lithium Ion Battery Market
On the basis of end users consumer electronics industry accounted for the highest revenue share of 48% in global lithium ion battery. Moreover, the consumer electronics segment is anticipated to continue its dominance with a CAGR of 11.3% over the forecast period.
Global Lithium Ion Battery Market Outlook 2016-2024, has been prepared based on an in-depth market analysis from industry experts. The report covers the competitive landscape and current position of major players in the global lithium ion battery market. The report also includes porter’s five force model, SWOT analysis, company profiling, business strategies of market players and their business models. Global lithium ion battery market report also recognizes value chain analysis to understand the cost differentiation to provide competitive advantage to the existing and new entry players.
Our global lithium ion battery market report comprises of the following companies as the key players in the global lithium ion battery market: Panasonic Corporation, Hitachi Chemical Co. Ltd., BAK Group, Johnson Controls, Inc., Samsung SDI Co. Ltd., LG Chem Power Inc., Toshiba Corporation., A123 Systems LLC., Saft Groupe SA, GS Yuasa Corporation, Automotive Energy Supply

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Further, the report states that one challenge in global lithium ion battery market is high cost of lithium ion batteries. High cost of lithium ion batteries poses major challenge for the automotive industry as the battery cost comprise about 25% of the overall vehicle cost which is restraining the growth lithium ion batteries in automotive industry as the consumers are less tend to buy costly electric vehicles.

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Geographically, Asia Pacific region dominated the global lithium ion battery market, with more than 48% revenue share in global market owing to huge consumer electronics and electric vehicles market in the region. Asia Pacific region is closely followed by the North America with market size of USD 4.5 billion 2016, which is expected to grow at a CAGR of 9.1% over the forecast period.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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