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The automotive Li-ion battery market share is expected to increase by USD 38.96 billion from 2021 to 2026, at a CAGR of 27.48%.
The market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by vehicle type (BEV and PHEV) and geography (APAC, Europe, North America, South America, and MEA). The market report also offers information on several market vendors, including Brookfield Business Partners LP, BYD Co. Ltd., China Aviation Lithium Battery Technology Co. Ltd., Contemporary Amperex Technology Co. Ltd., GS Yuasa Corp., Hitachi Ltd., LG Chem Ltd., Panasonic Corp., Samsung SDI Co. Ltd., and Toshiba Corp. among others.
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The favorable government policies is notably driving the market growth, although factors such as development of high-energy-density batteries such as lithium-sulfur batteries may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the automotive Li-ion battery industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Automotive Li-ion Battery Market Driver
One of the key factors driving growth in the market is favorable government policies. Governments of various countries are collaborating with automotive manufacturers to address the growing concerns related to environmental safety and clean energy mix. For instance, several countries, such as France and the UK, have announced that they would ban the sale of diesel vehicles in their countries, which will aid in driving the sales of EVs. Furthermore, incentives and tax credits are being offered by governments to promote the use of EVs, which will increase the demand for automotive Li-ion batteries. The changing climatic and atmospheric conditions caused due to rapid urbanization and the growing population have led the European Commission (EC) to implement stringent fuel efficiency and emission norms to address these issues. This is encouraging governments and public operators in Europe to switch to the use of EVs. This rise in the adoption of EVs will lead to increased use of automotive li-ion batteries.
Key Automotive Li-ion Battery Market Trend
The increase in the global automotive li-ion battery production capacity is another factor supporting the market share growth. The increase in automotive li-ion battery production can be attributed to a 41% increase in global electric car registrations in 2020 as compared to 2019. Automotive battery production is dominated by countries such as China, which accounts for around 70% of global automotive battery production capacity. Furthermore, the prices of automotive batteries have declined in recent years. Automotive battery manufacturers are increasingly focusing on offering batteries at lower prices to increase their purchase volumes. These manufacturers are increasing their automotive battery production capacity by constructing new manufacturing facilities. The manufacturers of automotive Li-ion batteries are collaborating with leading automotive manufacturers to increase the Li-ion battery production capacity. Such automotive li-ion battery capacity expansion plans of market vendors will have a favorable impact on the growth of the global market.
Key Automotive Li-ion Battery Market Challenge
The development of high-energy-density batteries such as lithium-sulfur batteries will be a major challenge for the market during the forecast period. With the fast-growing global population, the global demand for clean energy has substantially increased. Traditional automotive li-ion batteries play a limited role in meeting these demands due to their limited capacity and energy density. Other energy storage systems such as lithium-sulfur (Li-S) batteries offer higher energy density in comparison with li-ion batteries. Sulfur delivers a high theoretical capacity in comparison with cathode materials used in Li-ion batteries. However, the commercialization process of Li-S batteries developed at a slow rate. They are not as widely used for EVs. The limitations of Li-ion batteries in the field of energy storage have led researchers to study the possible use of Li-S batteries in EVs as they can theoretically hold a charge capacity of six times that of Li-ion batteries. Another advantage of Li-S batteries is that they are cost-effective in comparison with Li-ion batteries, as sulfur is a more abundant material than cobalt. The availability of such alternatives can negatively impact the growth of the global automotive li-ion battery market.
The market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global market as a part of the global renewable electricity market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the industry encompasses successful business strategies deployed by the key vendors. The market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
Panasonic Corp. - The company offers advanced lithium-ion battery technology that is designed to provide improved energy density, lower costs, and improved driving range.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the renewable electricity market includes the following core components:
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
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45% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for automotive Li-ion batteries in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The significant demand for EVs, along with the manufacturing and industrial boom in China will facilitate the market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the COVID-19 pandemic had a negative impact on the regional automotive li-ion batteries market. The governments of countries such as China, Japan, South Korea, and India imposed COVID-19-related restrictions and nationwide lockdowns to curb the spread of the disease. In H2 2020, the initiation of vaccination drives carried out by the governments in the region led to a decline in the number of COVID-19 cases. This led to the lifting of COVID-19-related restrictions and the resumption of manufacturing operations of regional automotive li-ion batteries manufacturers. Furthermore, in 2021, the regional automotive industry recovered from the negative impacts of the pandemic as the regional sales of EVs increased.
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The market share growth by the BEV segment will be significant during the forecast period. Due to factors such as technological advancements, and governmental subsidies, the demand for BEVs has increased in recent years. The market share of BEVs is increasing globally as they are the most viable way for a clean and efficient transport system. BEVs have a reduced climate impact compared to internal combustion engine (ICE) vehicles, which has contributed to the increased demand for BEVs. Thus, the increasing global demand for BEVs will drive the market segment's growth during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the market size and actionable market insights on post COVID-19 impact on each segment.
Lithium-ion Battery market - The market has the potential to grow by USD 58.05 billion during 2020-2025, and the market's growth momentum will accelerate at a CAGR of 32.65%.
Cylindrical Lithium-ion Battery market - The market share is expected to increase to USD 11.88 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 7.42%.
Flat Lithium-ion (Li-ion) Battery market - The market share is expected to increase by USD 15.44 billion from 2021 to 2026, at an accelerating CAGR of 11.44%.
US Li-ion Battery Energy Storage market - The market share will grow by USD 1355.55 million during 2018-2022.
Automotive Li-ion Battery Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Decelerate at a CAGR of 27.48% |
Market growth 2022-2026 |
USD 38.96 billion |
Market structure |
Fragmented |
YoY growth (%) |
29.95 |
Regional analysis |
APAC, Europe, North America, South America, and MEA |
Performing market contribution |
APAC at 45% |
Key consumer countries |
China, US, Norway, Germany, and Japan |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Brookfield Business Partners LP, BYD Co. Ltd., China Aviation Lithium Battery Technology Co. Ltd., Contemporary Amperex Technology Co. Ltd., GS Yuasa Corp., Hitachi Ltd., LG Chem Ltd., Panasonic Corp., Samsung SDI Co. Ltd., and Toshiba Corp. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
***1. Executive Summary
**1.1 Market Overview
*Exhibit 01: Key Finding 1
*Exhibit 02: Key Finding 2
*Exhibit 03: Key Finding 3
*Exhibit 04: Key Finding 5
*Exhibit 05: Key Finding 6
*Exhibit 06: Key Finding 7
*Exhibit 07: Key Finding 8
***2. Market Landscape
**2.1 Market ecosystem
*Exhibit 08: Parent market
*Exhibit 09: Market Characteristics
**2.2 Value chain analysis
*Exhibit 10: Value chain analysis: Renewable electricity
*2.2.1 Inputs
*2.2.2 Operations
*2.2.3 Distribution and logistics
*2.2.4 Marketing and sales
*2.2.5 Aftermarket and service
*2.2.6 Industry innovations
***3. Market Sizing
**3.1 Market definition
*Exhibit 11: Offerings of vendors included in the market definition
**3.2 Market segment analysis
*Exhibit 12: Market segments
**3.3 Market size 2021
**3.4 Market outlook: Forecast for 2021 - 2026
*3.4.1 Estimating growth rates for emerging and high-growth markets
*3.4.2 Estimating growth rates for mature markets
*Exhibit 13: Global - Market size and forecast 2021 - 2026 ($ billion)
*Exhibit 14: Global market: Year-over-year growth 2021 - 2026 (%)
***4. Five Forces Analysis
**4.1 Five Forces Summary
*Exhibit 15: Five forces analysis 2021 & 2026
**4.2 Bargaining power of buyers
*Exhibit 16: Bargaining power of buyers
**4.3 Bargaining power of suppliers
*Exhibit 17: Bargaining power of suppliers
**4.4 Threat of new entrants
*Exhibit 18: Threat of new entrants
**4.5 Threat of substitutes
*Exhibit 19: Threat of substitutes
**4.6 Threat of rivalry
*Exhibit 20: Threat of rivalry
**4.7 Market condition
*Exhibit 21: Market condition - Five forces 2021
***5. Market Segmentation by Vehicle type
**5.1 Market segments
*The segments covered in this chapter are:
*Exhibit 22: Vehicle type - Market share 2021-2026 (%)
**5.2 Comparison by Vehicle type
*Exhibit 23: Comparison by Vehicle type
**5.3 BEV - Market size and forecast 2021-2026
*Exhibit 24: BEV - Market size and forecast 2021-2026 ($ billion)
*Exhibit 25: BEV - Year-over-year growth 2021-2026 (%)
**5.4 PHEV - Market size and forecast 2021-2026
*Exhibit 26: PHEV - Market size and forecast 2021-2026 ($ billion)
*Exhibit 27: PHEV - Year-over-year growth 2021-2026 (%)
**5.5 Market opportunity by Vehicle type
*Exhibit 28: Market opportunity by Vehicle type
***6. Customer landscape
**6.1 Overview
*Exhibit 29: Customer landscape
***7. Geographic Landscape
**7.1 Geographic segmentation
*The regions covered in the report are:
*Exhibit 30: Market share by geography 2021-2026 (%)
**7.2 Geographic comparison
*Exhibit 31: Geographic comparison
**7.3 APAC - Market size and forecast 2021-2026
*Exhibit 32: APAC - Market size and forecast 2021-2026 ($ billion)
*Exhibit 33: APAC - Year-over-year growth 2021-2026 (%)
**7.4 Europe - Market size and forecast 2021-2026
*Exhibit 34: Europe - Market size and forecast 2021-2026 ($ billion)
*Exhibit 35: Europe - Year-over-year growth 2021-2026 (%)
**7.5 North America - Market size and forecast 2021-2026
*Exhibit 36: North America - Market size and forecast 2021-2026 ($ billion)
*Exhibit 37: North America - Year-over-year growth 2021-2026 (%)
**7.6 South America - Market size and forecast 2021-2026
*Exhibit 38: South America - Market size and forecast 2021-2026 ($ billion)
*Exhibit 39: South America - Year-over-year growth 2021-2026 (%)
**7.7 MEA - Market size and forecast 2021-2026
*Exhibit 40: MEA - Market size and forecast 2021-2026 ($ billion)
*Exhibit 41: MEA - Year-over-year growth 2021-2026 (%)
**7.8 Key leading countries
*Exhibit 42: Key leading countries
**7.9 Market opportunity by geography
*Exhibit 43: Market opportunity by geography ($ billion)
***8. Drivers, Challenges, and Trends
**8.1 Market drivers
*8.1.1 Favorable government policies
*8.1.2 Preference for li-ion batteries over lead-acid and nickel-metal hydride batteries
*8.1.3 Increasing number of partnerships and collaborations
**8.2 Market challenges
*8.2.1 Development of high-energy-density batteries such as lithium-sulfur batteries
*8.2.2 Concerns over sustainable supply of li-ion battery raw materials
*8.2.3 High cost of recycling of li-ion batteries
*Exhibit 44: Impact of drivers and challenges
**8.3 Market trends
*8.3.1 Increase in the global automotive li-ion battery production capacity
*8.3.2 Increasing focus on reduction of prices of li-ion batteries
*8.3.3 Growing consumer demand for BEVs and PHEVs over conventional automobiles
***9. Vendor Landscape
**9.1 Overview
*Exhibit 45: Vendor landscape
**9.2 Landscape disruption
*Exhibit 46: Landscape disruption
*Exhibit 47: Industry risks
***10. Vendor Analysis
**10.1 Vendors covered
*Exhibit 48: Vendors covered
**10.2 Market positioning of vendors
*Exhibit 49: Market positioning of vendors
**10.3 Brookfield Business Partners LP
*Exhibit 50: Brookfield Business Partners LP - Overview
*Exhibit 51: Brookfield Business Partners LP - Business segments
*Exhibit 52: Brookfield Business Partners LP - Key offerings
*Exhibit 53: Brookfield Business Partners LP – Segment focus
**10.4 BYD Co. Ltd.
*Exhibit 54: BYD Co. Ltd. - Overview
*Exhibit 55: BYD Co. Ltd. - Business segments
*Exhibit 56: BYD Co. Ltd. - Key offerings
*Exhibit 57: BYD Co. Ltd. - Segment focus
**10.5 China Aviation Lithium Battery Technology Co. Ltd.
*Exhibit 58: China Aviation Lithium Battery Technology Co. Ltd. - Overview
*Exhibit 59: China Aviation Lithium Battery Technology Co. Ltd. - Product and service
*Exhibit 60: China Aviation Lithium Battery Technology Co. Ltd. - Key offerings
**10.6 Contemporary Amperex Technology Co. Ltd.
*Exhibit 61: Contemporary Amperex Technology Co. Ltd. - Overview
*Exhibit 62: Contemporary Amperex Technology Co. Ltd. - Business segments
*Exhibit 63: Contemporary Amperex Technology Co. Ltd. - Key offerings
*Exhibit 64: Contemporary Amperex Technology Co. Ltd. - Segment focus
**10.7 GS Yuasa Corp.
*Exhibit 65: GS Yuasa Corp. - Overview
*Exhibit 66: GS Yuasa Corp. - Business segments
*Exhibit 67: GS Yuasa Corp. - Key offerings
*Exhibit 68: GS Yuasa Corp. - Segment focus
**10.8 Hitachi Ltd.
*Exhibit 69: Hitachi Ltd. - Overview
*Exhibit 70: Hitachi Ltd. - Business segments
*Exhibit 71: Hitachi Ltd. - Key offerings
*Exhibit 72: Hitachi Ltd. - Segment focus
**10.9 LG Chem Ltd.
*Exhibit 73: LG Chem Ltd. - Overview
*Exhibit 74: LG Chem Ltd. - Business segments
*Exhibit 75: LG Chem Ltd. - Key offerings
*Exhibit 76: LG Chem Ltd. - Segment focus
**10.10 Panasonic Corp.
*Exhibit 77: Panasonic Corp. - Overview
*Exhibit 78: Panasonic Corp. - Business segments
*Exhibit 79: Panasonic Corp. - Key News
*Exhibit 80: Panasonic Corp. - Key offerings
*Exhibit 81: Panasonic Corp. - Segment focus
**10.11 Samsung SDI Co. Ltd.
*Exhibit 82: Samsung SDI Co. Ltd. - Overview
*Exhibit 83: Samsung SDI Co. Ltd. - Business segments
*Exhibit 84: Samsung SDI Co. Ltd. - Key offerings
*Exhibit 85: Samsung SDI Co. Ltd. - Segment focus
**10.12 Toshiba Corp.
*Exhibit 86: Toshiba Corp. - Overview
*Exhibit 87: Toshiba Corp. - Business segments
*Exhibit 88: Toshiba Corp. - Key offerings
*Exhibit 89: Toshiba Corp. - Segment focus
***11. Appendix
**11.1 Scope of the report
*11.1.1 ????Market definition
*11.1.2 Objective
*11.1.3 Notes and caveats
**11.2 Currency conversion rates for US$
*Exhibit 90: Currency conversion rates for US$
**11.3 Research Methodology
*Exhibit 91: Research Methodology
*Exhibit 92: Validation techniques employed for market sizing
*Exhibit 93: Information sources
**11.4 List of abbreviations
*Exhibit 94: List of abbreviations
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