Set to register a stellar Compound Annual Growth Rate of 12%, theGlobal Lithium Ion and Battery Pack Market is looking at a positivemarket landscape for the forecast period of 2017 to 2025. This means that themarket would be worth USD 88.92 billion by the end of 2025.
A major factor to this growth would be owed to an increase in demand inhybrid and electric cars (plug-in vehicles), growing automation in mostindustries, and a rise in the use of electrically operated equipment. Asapplications in these cars and demand in smart devices is expected to rise, sois the demand for Lithium Ion Cell and Battery Pack. Due to this, a largenumber of competitors are seen entering the market, making it more dynamic thanever. The already fairly fragmented market, is therefore expected to be morecompetitive.
The market has few prominent players holding a big slice of the market.Key players are Toshiba Corporation, GS Yuasa Corporation, Samsung SDI, BYD Co.Ltd and Panasonic Corporation. Most of these companies, survive increasingcompetition through mergers and expansions in both product portfolios andgeographical outreach.
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APAC will create untapped opportunities in the Global Lithium Ion Cell andBattery Pack Market:
Asia Pacific (APAC), which accounted for 72% of the overall market in2016, will take up the lion’s share from the global lithium ion cell batterypack market, from 2017 to 2025. This can largely be attributed to rising demandfor smart cars, consumer electronic devices and grid energy in the region.Also, the presence of some of the biggest players such as Panasonic in Japanand Samsung in South Korea make the region much promising.
Nation-wise, India and China are ready to lead the way with the latterbeing a hotspot for global automotive manufacturing and leading the world interms of electronics manufacturing. Currently, the Chinese market is productionof electric vehicles is driving the market in China, making it more lucrativethan ever. India is brimming with industries that have varied application forthese cells and batteries.
Market Snapshot – Growth Trends
· Applicationin high stacking electric vehicles is the key factor, is raking up demand forlithium ion cells and battery packs. This trend is expected to stay strong overthe forecasted period with the rise in need for sustainable and clean fuel
· Seen asoffering higher efficiency and longer shelf-life as compared to itscounterparts, the lithium ion cell and battery packs market is gainingmomentum. The increase in demand for electronics providing superior performanceand proper lifespan seem to be a major contributor to a rosy outlook.
· Handhelddevices need high power density for wireless transmission and a workableresolution and lithium ion batteries hit the mark, providing consumers with amuch needed solution. Also, there can be observed an increase in use of thesebatteries in barcode and RFID scanners, pointing a positive growth chart
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Concern of the Global Lithium Ion Cell and BatteryPack Market:
· It isdifficult to maintain voltage and current within safe limits and has a lowthermal stability; requires protection circuit to do the same
· There aretransportation restrictions; shipment of larger quantities may be subject toregulatory control
· Highmanufacturing cost – it is approximately 40 percent higher than nickel-cadmium;it is therefore unsustainable to use lithium ion batteries for prolonged use.This is currently in a declining slope
Despite the above mentioned restraints, the market is looking at anupward growth trajectory.
This analysis of the global lithium ion cell and battery packmarket is based on a recent market research report by Transparency MarketResearch, titled “Lithium Ion Cell and Battery Pack Market (PowerCapacity - 5-25 Wh, 48-95 Wh, 18-28 KWh, 100-250 KWh, and More than 300 KWh;Pack Type - Series Battery Pack and Parallel Battery Pack; Battery Shape -Cylindrical, Prismatic, Polygon, and Coin; Application - Consumer Electronics(Laptop,Digital Camera, Smartphone, and Automatic Identification and Data Capture(Barcode Scanner, Handheld Scanner, RFID Scanner, and Mobile Computers)),Automotive, Medical, Grid Energy, and Industrial) - Global Industry AnalysisSize Share Growth Trends and Forecast 2017–2025.”
