Lithium-ion Batteries Market Size and Outlook Report by Type, by Applications, by Raw Materials, by Capacity, and by Demand (2018-2028)
Electric vehicles have not just been revolutionising the automotive sector, but it is also reshaping the energy and materials sectors. One of the key components of the smooth running of electric vehicles is the rechargeable battery. So far, lithium-ion battery has emerged the main beneficiary from this new trend. Li-ion batteries have been in use for decades in numerous applications such as consumer electronics, aerospace, defence healthcare, and industrial applications. However, its growth has been stepping up since the adoption of electric vehicles and other major disruptors such green energy and the upcoming autonomous vehicle technology.
There is a huge potential for demand growth for lithium-ion batteries in the coming years on the back of disruptive technologies and renewed growth in the existing sectors. Commodity Inside anticipates that the lithium-ion batteries market is set to increase from $25 billion in 2017 to $78 billion in 2028, at a compound annual growth rate (CAGR) of 10.7% from 2017 to 2028.
However, the market can also to be hindered by volatility in battery raw material prices. Lithium prices remained elevated recently followed by a price hike in transition metal- cobalt. Commodity Inside understands that R&D and innovations will indeed help the Li-ion batteries to become more safe and efficient for end users. However, there is also a threat of emergence of alternative battery chemistry which can cannibalise the market.
Some highlights from the research:
- Lithium-ion batteries market is set to increase from $25 billion in 2017 to $78 billion in 2028.
- Lithium-ion battery market is on the rise and will see massive growth in major markets, particularly in Asia on both demand and supply sides.
- The market will be underpinned by disruptive technologies such as electric vehicles, smart grid storage, data centres etc
- Raw materials and government support will play a key role in determining the future growth of lithium-ion batteries.
- Lithium-ion battery market is consolidated, but some companies need to optimise their business or will face the exit. The supply chain will be further tightened, while research and innovations to be synergised between battery producers and end users.
- The average cost of a lithium-ion battery pack is to decline from $185/kWh in 2017 to around $80/kWh in 2028.
The scope of the report
‘A Strategic Outlook for the Global Lithium-ion Batteries Market to 2028’ report from Commodity Inside provides the reader with a detailed analysis of the Lithium-ion battery industry, about battery market size, regional analysis, Lithium-ion batteries in key end users and projection in the changing application paradigm. It also provides insight on major trends and developments with impact assessment. It profiles key players with analysis of their strengths and strategies.
The report covers the following:
- Analysis of lithium-ion batteries and materials markets
- Critical dissection of major market trends and developments in the next ten years
- Threats and growth opportunities the market will present
- Market assessment and ten years projections for lithium-ion batteries in value and energy terms
- Market assessment and projection by lithium battery types
- Market size and forecasts key end-use sectors: automotive, grid storage, industrial applications and others
- Market assessment and forecasts of raw materials for Lithium-ion batteries: cathodes, anodes, electrolytes and separators
- Market structure and profiles of major players in the industry
- Market analysis by regions and countries
Key questions the report answered:
- How is the lithium-ion battery market evolving by segment and region?
- What will the market size be in 2018, and at what rate will it grow in the next ten years?
- What trends, challenges and barriers are influencing the market growth?
- What opportunities will the market face going forward?
- How will the market shape for various end-use sectors?
- How big is the opportunity in the electric vehicles market?
- How will the raw materials market impact the battery market?
- Who are the key producers in the market, what are their rankings and what are their strategies?
- What strategies should lithium-ion batteries producers adapt to remain competitive?
- Which end-user sector will perform better and how will the change evolve their market share going forward?
- Battery types
- Battery materials
- Regions and countries
- End users