SAN FRANCISCO, July 21, 2017 (GLOBE NEWSWIRE) -- Global Lithium-Ion Battery Market Report, published by Variant Market Research, forecast that the global market is expected to reach $56 billion by 2024 from $25 billion in 2016; growing at a CAGR of 10.6% from 2016 to 2024. By geography, Asia-Pacific and Rest of the World (RoW) are expected to grow at a CAGR of 12.3% and 11.8%, respectively, during the forecast period.

The Global Lithium-Ion Battery Market is expected to witness lucrative demand and opportunities in coming years. The market is driven by rising demand for electric vehicles, stringent rules and regulations to curb pollution level and high penetration of electronic devices. Additionally, expansion of automobile industry would provide several opportunities for lithium-ion battery in forecasted period. Though, transportation restriction, risk of catching fire and high manufacturing costs may limit the adoption among end-users.

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Th lithium-ion battery market is bifurcated into 3 major segments such as material type, industrial vertical and geography. By material type, the market is segmented into cathode, electrolytic solution, anode and others. Among which, cathode accounted for the largest market share in 2016, owing to increased use of cathode to make positive electrodes for battery cells. Furthermore, industrial vertical is segmented into electronics, automotive, industrial and others. In terms of industrial vertical, electronics held the major share of the market in 2016, owing to high penetration of electronic devices such as smartphones, laptops and others. Whereas, automotive segment is expected to witness fastest CAGR during the forecast period.

North America, Europe, Asia-Pacific and RoW are the key segments by geography of global lithium-ion battery market. Asia-Pacific held the major chuck of market share in 2016 and is anticipated to continue the dominance with fastest CAGR during the forecast period 2016-2024, driven by presence of prominent manufacturers, expansion of automotive sectors in countries like China, North Korea and India. Furthermore, North America accounted for the second largest market share in 2016, owing to high demand for renewable and ecofriendly energy resources, stringent government regulations and heavy investments in R&D in cities like New York, and Chicago.

Market players have used various strategies such as mergers & acquisition, partnerships & agreements and product launch to increase their market share. The key players include Samsung SDI Co. Ltd., LG Chem Power (LGCPI), LITEC Co., Ltd., A123 Systems, LLC., Automotive Energy Supply Corporation, Panasonic Corporation, Toshiba Corporation, Hitachi Chemical Co., Ltd., China BAK Battery Co. Ltd., and GS Yuasa International Ltd. In May 2017, GS Yuasa launched PT1000L automobile engine start assistance power supply, equipped with 12V lead-acid battery. Similarly, in May 2016, Hitachi Chemical Co., Ltd., launched its new next-generation lead-acid battery “Tuflong G3” for vehicles equipped with idling stop systems.

Scope of Lithium-Ion Battery Market

Material Type Segments

• Cathode
• Electrolytic solution
• Anode
• Others

Industry Vertical Segments

• Electronics
• Automotive
• Industrial
• Others

Geographical Segments

• North America
  -- US
  -- Canada
  -- Mexico
• Europe
  -- UK
  -- France
  -- Germany
  -- Others
• Asia-Pacific
  -- China
  -- India
  -- Japan
  -- Others
• RoW
  -- South America
  -- Middle East
  -- Africa

About Variant Market Research

Variant Market Research offers syndicated and customized reports to fulfill clients' objectives. We also provide customized data pack proposing market sizing in an Excel/PDF/PowerPoint or Word format as per the requirement of clients. We cover several industry domains, namely Semiconductor & Electronics, Consumer Electronics, Information and Communication Technology, Automotive, Consumer Goods, Food & Beverages, Pharmaceuticals, Medical Devices, Chemicals, Industrial, Mining Equipment, Automation, Manufacturing, Construction, Energy & Power, Defense & Aerospace and Banking, Financial services and Insurance (BFSI). Our expertise are data triangulation, competitor benchmarking, parent market benchmarking, estimating market size and forecast of the market from 2016 to 2024.

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Kailas Disale
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