Lithium-Ion (Li-Ion) Global Market Report 2022
Major players in the lithium-ion (Li-ion) batteries market are A123 Systems, Automotive Energy Supply Corp, LG Chem, Panasonic, Samsung SDI, Toshiba, BYD, Automotive Energy Supply Corp, Contemporary Amperex Technology, and Johnson Controls.
New York, March 24, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Lithium-Ion (Li-Ion) Global Market Report 2022" - https://www.reportlinker.com/p06247503/?utm_source=GNWThe global lithium-ion (li-ion) market is expected to grow from $41.93 billion in 2021 to $48.86billion in 2022 at a compound annual growth rate (CAGR) of 16.5%.The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $85.72 billion in 2026 at a CAGR of 15.1%.
The lithium-ion (Li-ion) batteries market consists of sales of lithium-ion batteries and related services that are used in electric vehicles, mobiles, laptops, power backups and other electronic devices.The lithium-ion battery is a type of rechargeable battery having high energy density that uses lithium ions as primary component of its electrolyte.
Lithium-ion batteries are commonly used in consumer electronic devices.
The main types of lithium-ion (Li-ion) batteries are Lithium Nickel Manganese Cobalt (LI-NMC), Lithium Iron Phosphate (LFP), Lithium Cobalt Oxide (LCO), Lithium Titanate Oxide (LTO), Lithium Manganese Oxide (LMO) and Lithium Nickel Cobalt Aluminum Oxide (NCA).The lithium iron phosphate battery is a type of lithium-ion battery with a cathode made of lithium iron phosphate and an anode made of graphitic carbon with a metallic backing.
The various component used are cathode, anode, separators, electrolytes, aluminum foil, copper foil, others and are available in different power capacities such as 0 to 3000 Mah, 3000 to 10000mAH, 10000 to 60000 Mah and above 60000mAH. The chemistries used in lithium-ion (Li-ion) batteries are consumer electronics, automotive, marine, aerospace and defense, medical, industrial, power and others.
Asia Pacific was the largest region in the lithium-ion (Li-ion) market in 2021.North America was the second-largest region in the lithium-ion (Li-ion) market.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The growth of the lithium-ion batteries market is mainly driven due to the presence of high energy density features in lithium-ion batteries.High energy density helps the lithium-ion battery to run for a longer period.
Most of the lithium-ion batteries used in portable devices are cobalt-based which offers the highest energy density.The energy density of the lithium-ion batteries is 100-265 Wh/kg or 250-670 Wh/L, which is one of the highest energy densities of any battery technology.
High energy density in a lithium-ion battery made it the most preferred battery to be used in mobile phones, laptops, cameras and automobiles. Therefore, positively impacting the lithium-ion battery market’s growth.
Safety concerns towards lithium-ion batteries is the major challenge faced by the lithium-ion batteries market.Lithium-ion batteries generate large amounts of energy, associated with the risk of explosion or fire.
The temperature in lithium-ion batteries should never rise above 130°C which may lead to thermal runaway.Major causes of failure in lithium-ion batteries can be a puncture, overcharge, overheating, short circuit, internal cell failure, and deficiencies in the manufacturing process.
For example, Several Tesla Model S sedans caught fire after battery shield getting damaged by road debris. Therefore, inadequate safety in lithium-ion batteries hindering the lithium-ion batteries market’s growth.
Declining lithium-ion battery prices boosts the sales of lithium-ion batteries.Change in materials technology, manufacturing processes, overhead costs, and huge investments in lithium-ion battery industry contributed to the reduction in lithium-ion battery prices.
Lithium-ion battery prices with combined cost for cell and pack will drop down to US$76 per kWh by 2030, and according to Navigant Consulting Research report.
In February 2019, Royal Dutch Shell, a British-Dutch oil and gas company acquired Sonnen, a German home energy-storage startup for an undisclosed amount.The acquisition improves Sonnen’s ability to compete with Tesla, Samsung and LG in Europe, US, Australia and all markets where rooftop solar installations are increasingly popular.
Sonnen has installed over 40,000 battery packs in homes around the world. It uses lithium-iron-phosphate batteries, which are known to be cheaper and longer lasting than the nickel-cobalt-manganese batteries that Tesla uses for both electric cars and home energy-storage systems.
The countries covered in the lithium-ion (Li-ion) batteries market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.Read the full report: https://www.reportlinker.com/p06247503/?utm_source=GNW
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