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Lithium-Ion Battery Packs Market

Lithium-Ion Battery Packs Market

Lithium-Ion Battery Packs Market - Global Industry Assessment & Forecast

Number Of Pages # Pages:

170

Base Year:

2021

Date

Apr - 2022

Format:

PDF XLS PPT

Report Code:

VMR-1491

Segments Covered
  • By Product Type Lithium Cobalt Oxide Battery Pack, Lithium Magnesium Oxide Battery Pack, Lithium Iron Phosphate Battery Pack, Lithium Nickle Manganese Cobalt Oxide Battery Pack, Lithium Nickle Cobalt Aluminium Oxide Battery Pack, Lithium Titanate Battery Pack
  • By Cell Type Cylindrical Li-Ion Battery Pack, Prismatic Li-Ion Battery Pack, Pouch Li-Ion Battery Pack
  • By Nominal Voltage Less than 12V Li-Ion Battery Pack, 12V Li-Ion Battery Pack, 24V Li-Ion Battery Pack, More than 24V Li-Ion Battery Pack
  • By Battery Capacity >20 kWh Li-Ion Battery Pack, 30-60 kWh Li-Ion Battery Pack, 60-80 kWh Li-Ion Battery Pack, More than 80 kWh Li-Ion Battery Pack
  • By End Use Automotive Li-Ion Battery Pack, Consumer Electronics Li-Ion Battery Pack, Medical Devices Li-Ion Battery Pack, Industrial & Grid Energy Li-Ion Battery Pack
  • By Region North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Snapshot
Forecast YearsForecast Years: 2022 - 2028
Historical YearsHistorical Years: 2016 - 2021
Revenue 2021Revenue 2021: USD 57.8 Billon
Revenue 2028Revenue 2028: USD 68.6 Billon
Revenue CAGRRevenue CAGR (2022 - 2028): 2.9%
Fastest Growing Region Fastest Growing Region (2022 - 2028) Asia Pacific
Largest Region Largest Region (2021): Asia Pacific
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report
  • Go To Market Strategy
  • Region Specific Market Dynamics
  • Region Level Market Share
  • Import Export Analysis
  • Production Analysis
  • Others Request Customization Speak To Analyst
Lithium-Ion Battery Packs Market Share

Market Synopsis:

The Global Lithium-Ion Battery Packs Market is valued at USD 57.8 Billon in the year 2021 and is projected to reach a value of USD 68.6 Billon by the year 2028. The Global Market is projected to grow exhibiting a Compound Annual Growth Rate (CAGR) of 2.9% over the forecast period.

Lithium-Ion Battery Packs Market Size, 2021 To 2028 (USD )

Due to their recharge ability, lithium-ion batteries are becoming increasingly popular in the use of portable electronics and electric vehicles. They have recently been used in military and aerospace applications. Rising public awareness of renewable energy, combined with stringent government regulations, is driving increased investment in renewable energy sources. Because renewable energy sources do not provide continuous energy, there is a need to store the energy in order to provide a constant power supply. The Lithium-Ion Battery Packs Market is expected to grow globally due to technological advancements and increased demand for cost-effective solutions for renewable energy storage.

Furthermore, big props to advances in technology, today's Lithium-Ion Battery Packs are lightweight, small, and have a low stand-by rate while providing a high energy density. In comparison to other types of batteries, Lithium-Ion Battery Packs contain low levels of toxic heavy metals, making them an environmentally friendly way to store energy. During the forecast period, these factors are expected to drive the Lithium-Ion Battery Packs Market. The use of lithium-ion batteries has increased significantly in the automotive, marine, and consumer goods industries. When compared to alternatives, these batteries can provide higher energy density and voltage capacity. Lithium-Ion Battery Packs, on the other hand, can be much more expensive with a longer charge time. As a result, manufacturers must focus on improving battery capacities and lifespan, as well as reducing charging time and battery size to make them more cost-effective. Furthermore, because the cost of replacing lithium-ion batteries is high, and replacing them on a regular basis increases operational costs, manufacturers are now focusing on increasing the number of charging cycles of batteries.

Market Segmentation:

The Lithium-Ion Battery Packs Market is segmented on the basis of Product Type, Cell Type, Normal Voltage, Battery Capacity and End Use. On the basis of Product Type, the market is segmented into Lithium Cobalt Oxide Battery Pack, Lithium Magnesium Oxide Battery Pack, Lithium Iron Phosphate Battery Pack, Lithium Nickel Manganese Cobalt Oxide Battery Pack, Lithium Nickel Cobalt Aluminum Oxide Battery Pack and Lithium Titanate Battery Pack. On the basis of Cell Type, the market is segmented into Cylindrical Li-Ion Battery Pack, Prismatic Li-Ion Battery Pack and Pouch Li-Ion Battery Pack. On the basis of Normal Voltage, the market is segmented Less than 12V Li-Ion Battery Pack, 12V Li-Ion Battery Pack, 24V Li-Ion Battery Pack and More than 24V Li-Ion Battery Pack. On the basis of Battery Capacity, the market is segmented >20 kWh Li-Ion Battery Pack, 30-60 kWh Li-Ion Battery Pack, 60-80 kWh Li-Ion Battery Pack and More than 80 kWh Li-Ion Battery Pack. On the basis of End use, the market is segmented Automotive Li-Ion Battery Pack, Consumer Electronics Li-Ion Battery Pack, Medical Devices Li-Ion Battery Pack and Industrial & Grid Energy Li-Ion Battery Pack.

Below tree is interactive. You can click the nodes to get more information.

Based on Product Type:

On the basis of Product Type, the market is segmented into Lithium Cobalt Oxide Battery Pack, Lithium Magnesium Oxide Battery Pack, Lithium Iron Phosphate Battery Pack, Lithium Nickel Manganese Cobalt Oxide Battery Pack, Lithium Nickel Cobalt Aluminum Oxide Battery Pack and Lithium Titanate Battery Pack. By value, lithium nickel manganese cobalt oxide and lithium-ion phosphate account for nearly 70% of the lithium-ion battery market. The lithium nickel manganese cobalt oxide battery type leads the market due to its high specific energy characteristics, low internal resistance, and versatility to suit different power capacity configurations. The lithium-ion phosphate chemistry's inherent safety, high current rating, and long-life cycle are driving demand for this type in the lithium-ion battery market.

Based on End Use:

On the basis of End use, the market is segmented Automotive Li-Ion Battery Pack, Consumer Electronics Li-Ion Battery Pack, Medical Devices Li-Ion Battery Pack and Industrial & Grid Energy Li-Ion Battery Pack. During the forecast period, the automotive segment is expected to hold the largest share of the lithium-ion battery market. Lithium-ion batteries are used extensively in battery-powered vehicles such as electric vehicles, e-bikes, and automated guided vehicles. Battery electric vehicles (BEVs), hybrid electric vehicles (HEVs), and plug-in hybrid electric vehicles (PHEVs) are the three types of EVs based on their power source and application (PHEVs). Adoption and awareness of EVs are increasing, which aids market growth.

North America Dominates the Global Lithium-Ion Battery Packs Market

North America acquired the largest market share during the year 2021 with a share of 40.50%. The North American lithium-ion battery market share is expected to increase during the forecast period, owing to increased product use in the production of electric and hybrid vehicles. Furthermore, an increase in electronic product sales in the North America region is expected to drive regional market growth during the forecast period. Additionally, the electrification of delivery vehicles and pickup trucks is expected to increase demand for these batteries. Major commercial vehicle manufacturers are focusing on hybrid drive systems across multiple model lines. As a result, the growth of electric vehicles/plug-in hybrid vehicles is expected to drive the market for lithium-ion batteries.

Competitive Landscape:

Key players operating in the Global Lithium-Ion Battery Packs Market include- LG Chem Ltd., BYD Co. Ltd., Panasonic Corporation, Contemporary Amperex Technology Co. Ltd., Samsung SDI Co., EnerSys, Hefei Guoxuan High-Tech Power Energy Co. Ltd., Automotive Energy Supply Corporation, Tianjin Lishen Battery Joint-Stock Co. Ltd., CBAK Energy Technology Inc., Lithium Energy Japan Corporation. and others.

Segmentation of Global Lithium-Ion Battery Packs Market:

Parameter Details
Segments Covered
  • Product Type (Lithium Cobalt Oxide Battery Pack, Lithium Magnesium Oxide Battery Pack, Lithium Iron Phosphate Battery Pack, Lithium Nickle Manganese Cobalt Oxide Battery Pack, Lithium Nickle Cobalt Aluminium Oxide Battery Pack, Lithium Titanate Battery Pack)
  • Cell Type (Cylindrical Li-Ion Battery Pack, Prismatic Li-Ion Battery Pack, Pouch Li-Ion Battery Pack)
  • Nominal Voltage (Less than 12V Li-Ion Battery Pack, 12V Li-Ion Battery Pack, 24V Li-Ion Battery Pack, More than 24V Li-Ion Battery Pack)
  • Battery Capacity (>20 kWh Li-Ion Battery Pack, 30-60 kWh Li-Ion Battery Pack, 60-80 kWh Li-Ion Battery Pack, More than 80 kWh Li-Ion Battery Pack)
  • End Use (Automotive Li-Ion Battery Pack, Consumer Electronics Li-Ion Battery Pack, Medical Devices Li-Ion Battery Pack, Industrial & Grid Energy Li-Ion Battery Pack)
  • Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)
Regions & Countries Covered
  • North America - (U.S., Canada, Mexico)
  • Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
  • Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
  • Latin America - (Brazil, Argentina, Rest Of Latin America)
  • Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
Companies Covered
  • LG Chem Ltd.
  • BYD Co. Ltd.
  • Panasonic Corporation
  • Contemporary Amperex Technology Co. Ltd.
  • Samsung SDI Co.
  • EnerSys
  • Hefei Guoxuan High-Tech Power Energy Co. Ltd.
  • Automotive Energy Supply Corporation
  • Tianjin Lishen Battery Joint-Stock Co. Ltd.
  • CBAK Energy Technology Inc.
  • Lithium Energy Japan Corporation.
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis

Lithium-Ion Battery Packs Market to Reach Valuation of USD 68.6 Billon by 2028 - Increasing Demand for Lithium-Ion Battery Packs Market in automotive industry to Drive the Market Growth
From the period 2022 to 2028, the Global Lithium-Ion Battery Packs Market is expected to reach USD 68.6 Billon in terms of revenue, growing at a Compound Annual Growth Rate (CAGR) of 2.9%. Governments all over the world are focusing on reducing the pollutants emitted by conventional vehicles. Furth...
FAQ
Frequently Asked Question
  • The global Lithium-Ion Battery Packs valued at USD 57.8 Billon in 2020 and is expected to reach USD 68.6 Billon in 2028 growing at a CAGR of 2.9%.

  • The prominent players in the market are LG Chem Ltd., BYD Co. Ltd., Panasonic Corporation, Contemporary Amperex Technology Co. Ltd., Samsung SDI Co., EnerSys, Hefei Guoxuan High-Tech Power Energy Co. Ltd., Automotive Energy Supply Corporation, Tianjin Lishen Battery Joint-Stock Co. Ltd., CBAK Energy Technology Inc., Lithium Energy Japan Corporation..

  • The market is project to grow at a CAGR of 2.9% between 2021 and 2028.

  • The driving factors of the Lithium-Ion Battery Packs include

    • Increasing demand for electric vehicles

  • Asia Pacific was the leading regional segment of the Lithium-Ion Battery Packs in 2020.