Lithium Battery Charger IC market
Market Research Future (MRFR) claims that the Lithium Battery Charger IC market is predicted to garner 21.11 % CAGR during the forecast period (2018-2023). Lithium-ion (Li) battery chargers are known for their high charging capacity and low amount of discharge. Their facilities of getting recharged make them garner accolades from industries. The lithium battery charger ICs are anticipated to assist the Li batteries long lifespan. The object also ensures that the Li battery does not get overheated. It's market proliferation has increased in the recent past due to which it is likely to exceed USD 34.45 billion by the end of 2023.
Market Potential and Pitfalls
The Lithium Battery Charger IC market is expecting high growth due to the increasing uptakes of consumer electronics such as smartphone and other devices. But the lithium battery charger ICs industry is witnessing an outstanding growth due to the resurgence in the automotive sector owing to growing intake of electric vehicles (EVs) and hybrid electric vehicles (HEVs). Automation is another area that can impact the Lithium Battery Charger IC market in the coming years. The emergence of hybrid and electric vehicles are likely to induce demand for charger ICs which optimize charging. With the extensive adoption of robots across industrial sectors, the market for lithium battery charger ICs is predicted to propel worldwide. This can be further attributed to the extensive adoption of automated processes in order to expedite the production in manufacturing including other sectors.
On the contrary, the concerns associated with the thermal stability and overheating of Li-ion batteries are the top barriers estimated to vitiate the market growth during the review period.
Lithium Battery Charger IC market: Segmental Analysis
The global Lithium Battery Charger IC market has been segmented into types of charger, appliances, and end-users.
By types of chargers, the Lithium Battery Charger IC market can be segmented into pulse battery chargers, SMBus/I2C/SPI switching battery chargers, controlled battery chargers, buck/boost battery chargers, linear battery chargers, and µModule battery chargers. The switching battery chargers had better market penetration and in 2017, had more coverage than any others owing to being highly efficient in small and cheap AC adapters. The SMBus/I2C/SPI controlled battery chargers are expected to record the fastest CAGR during the forecast period.
By mode of appliances, the Lithium Battery Charger IC market includes power tools, gardening tools, vacuum cleaners, small appliances, and others. The small appliances segment comprises consumer electronic products and household items which rely on battery charges. Commercial and household changes are promoting small appliances segment due to which the market has substantial market dominance.
By mode of end-users, the Lithium Battery Charger IC market includes energy & power, automotive, consumer electronics, and others. The consumer electronics had the maximum market coverage in 2017 due to impacts from the entertainment and infotainment purposes in promoting the market. The automotive sector is deemed to emerge as one of the major segments due to the traction the manufacturing of EV and HEV is providing.
Regional Insights
The global Lithium Battery Charger IC market span across regions namely, North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
Considering the global scenario, North America dominated the market, and its dominance was well-proven in 2017. The market is banking sufficiently on the presence of prominent players such as Analog Devices and Maxim Integrated Products. High investment possibilities have further offered the region an upper-hand in terms of research and development which creates multiple opportunities for the regional market. The region is also gaining prominence from the technical capacity and superior infrastructure. Intensely-packed industrial pockets, along with a high intake of EV and HEV are going to promote the regional market.
The European region is considered to expand at a moderate growth and depends mostly on the high application of such batteries in eco-friendly cars. Germany, on the other hand, is one of the market giants which is substantially impacting the regional market with innovation and strategic build-ups. Regional policies of Europe are also backing up the system. In the Asia Pacific region, China is doing great business as the region is extensively adopting electric vehicles.
Industry Updates
In April 2019, Delta-Q Technologies launched a battery charging solution for electric drive vehicles and machines. The innovative model would have ICL Series of lithium battery chargers-the ICL 1200 and the ICL 1500 in 85V and 120V models.
Competitive Landscape
The prominent players operating in the global Lithium Battery Charger IC market comprises ON Semiconductor Corporation (U.S.), New Japan Radio Co., Ltd. (Japan), Silergy Corporation (China), Holtek Semiconductors Inc. (China), Richtek Technology Corporation (Taiwan), Texas Instruments Inc. (U.S.), Analog Devices Inc. (U.S.), Maxim Integrated (U.S.), Future Technology Devices International (FTDI) Chip (U.K.), NXP Semiconductors N.V. (The Netherlands), Toshiba Corporation (Japan), Diodes Incorporated (U.S.), Microchip Technology Inc. (U.S.), Shanghai Nanxin Semiconductor Technology Co. Ltd. (China), ROHM Company Ltd. (Japan), TOREX Semiconductor Ltd. (Japan), STMicroelectronics N.V. (Switzerland), Active-Semi, Inc. (U.S.), Monolithic Power Systems, Inc. (U.S.), Intersil Corporation (U.S.), Vishay Intertechnology, Inc. (U.S.), and Integrated Device Technologies Inc. (U.S.).
Browse Complete Report "Lithium Battery Charger IC market Research Report - Global Forecast to 2023" @ https://www.marketresearchfuture.com/reports/lithium-battery-charger-ics-market-7318
