The global automotive lithium-ion battery market is expected to witness lucrative growth over the forecast period owing to the increasing passenger vehicles and CO2 emission targets; whereas the challenges faced by market are longer duration of charging time and high internal resistance.
Lithium ion (Li-ion) batteries are commonly used type of rechargeable batteries with twice the energy density of Nickel-Cadmium batteries and greater stability and safety. Lithium (Li) is the lightest of all metals, has the greatest electrochemical potential, and provides the largest energy density for weight.
As compared to traditional battery technology, lithium-ion batteries charge faster, last longer, and have a higher power density for more battery life in a lighter package. Lithium ion battery consists of three main components namely positive and negative electrode separated by an extractor dipped in electrolyte. Negative electrode is normally an electron donor group that is electropositive in nature like lithium metal. Positive electrode is normally an electron acceptor which is strongly electronegative.
The global automotive lithium-Ion battery market is segmented on the basis of power capacity, application, and region. On the basis of power capacity analysis, the global market is classified into 5-25 Wh, 48-95 Wh, 18-28 KWh, 100-250 KWh, More than 300 KWh.
The “low power lithium-ion battery (5-25 Wh)” segment seized the lead in the global market, accounting for maximum market share in 2015; whereas, the 18-28 KWh segment is expected to witness significant growth during the forecast period, registering a significant CAGR by value from 2014 to 2025. On the basis of application analysis, the global market is classified into consumer electronics, automotive, grid energy & industrial.
“Consumer electronics” segment accounted for the maximum market share in the lithium-ion battery market in terms of revenue. It is expected that saturation in several countries will allow the automotive segment to gain much energy; showing the fastest growth during the forecast period. Geographically, the global automotive lithium-ion battery market is segmented into North America (U.S., Canada), Europe (Germany, France, Italy, England, Spain), Asia Pacific (China, Japan, India, ASEAN), Latin America (Brazil, Mexico), Middle East & Africa (GCC, South Africa, Egypt).
North America is the largest automotive lithium-ion battery market, which is then followed by Europe and Asia Pacific. Asia Pacific, at present, leads the global market for lithium-ion batteries, accounting for maximum market share of overall market in 2015. This region is also estimated to expand at a significant pace in terms of demand and sales during the course of the forecast period. By value, the Asia Pacific’s lithium-ion battery market will register a significant CAGR from 2014 to 2025. The high growth rate is attributed to the emergence of China as a global hub for automobile industry and increasing demands of vehicles from some of the other Asian countries such as India, Indonesia, Malaysia, Thailand, and Philippines.
The key players of the global automotive lithium-ion battery market are A123 System LLC, Amperex Technology Ltd. (ATL), Blue Energy Co. Ltd., Johnson Controls Inc., Johnson Matthey, LG Chem Ltd., Panasonic Corp., SAFT, Toshiba Corp.
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The automotive & transportation industry is amongst the most exposed verticals to the ongoing COVID-19 outbreak and is currently amidst unprecedented uncertainty. COVID-19 is expected to have a significant impact on the supply chain and product demand in the automotive sector. The industry's concern has moved on from being centered on supply chain disruption from China to the overall slump in demand for automotive products. The demand for commercial vehicles is expected to plummet with the shutdown of all non-essential services. Furthermore, changes in consumer buying behavior owing to uncertainty surrounding the pandemic may have serious implications on the near future growth of the industry. Meanwhile, liquidity shortfall and cash crunch have already impacted the sales of fleet operators, which is further expected to widen over the next few months. We are continuously monitoring the COVID-19 pandemic, and assessing its impact on the growth of the automotive & transportation industry. The report will account for Covid19 as a key market contributor.