Government initiative for EV mobility worldwide will positively impact of the global Advanced Lithium-Ion Battery market at a CAGR of 17.95% during the forecast period 2021 to 2030

Market Research Future (MRFR) has published a cooked research report on the “global Advanced Lithium-Ion Battery market” that contains the information from 2021 to 2030.

The Advanced Lithium-Ion Battery market is estimated to register a CAGR of 17.95% during the forecast period of 2021 to 2030.

MRFR recognizes the following companies as the key players in the global Advanced Lithium-Ion Battery market— LG Chem, Panasonic, Byd Motors Inc, Samsung SDI, Toshiba, Contemporary Amperex Technology Co., Limited, Broadbit Batteries Oy, 24m Technologies, NGK Insulators, Johnson Battery Technologies, Inc, Durapower Group, Tanktwo, Johnson Matthey, Voltaiq, Prieto Battery Inc, Cadenza Innovation Inc, SK Innovations.

Market Highlights

The global Advanced Lithium-Ion Battery market is accounted for to register a CAGR of 17.95% during the forecast period and is estimated to reach USD 1,72,401.19 million by 2030.

The sales of advanced lithium-ion batteries are likely to be propelled by customer preferences, business models, product technology, and regulatory framework development. Major players operating in the advanced lithium-ion battery market are using energy-efficient technology to introduce high-power output batteries, which can further tackle energy storage-related challenges. The advanced lithium-ion battery industry has become one of the most significant worldwide, not only at the economic level but also in R&D. More technological elements are being introduced into batteries to improve vehicle and environmental safety. Additionally, the market is affected by small- and medium-scale regional manufacturers who offer innovative advanced lithium-ion batteries at considerably low prices. These local players position themselves as regional experts in the product segment and excel in state and national sales. Furthermore, the successful track record of developing advanced lithium-ion batteries by major companies such as LG Chem, Toshiba Corporation, Durapower Group, Johnson Battery Technology, and Panasonic is driving the growth of the advanced lithium-ion battery market across the globe.

Good research helps manufacture advanced lithium-ion batteries of consistent, repeatable quality more efficiently, along with savings in material, time, and costs. The organized players are investing to increase their channel partners and widen their distribution networks, which will provide them a competitive edge and help them target the underpenetrated market. A significant factor contributing to the growth of the advanced lithium-ion battery market is the focus of key companies on enhancing their brand presence on the regional level. Moreover, the augmented demand for electric and hybrid vehicles on account of shifting consumer preferences towards affordable energy-efficient plug-in cars is expected to drive the global advanced lithium-ion battery market. Therefore, factors such as strategic investment in R&D and technological advancements in manufacturing will stimulate the global advanced lithium-ion battery market shortly.

The improvements in battery technology over the past few years have been impressive. The technologically advanced battery cells offer higher energy densities and are much less expensive per kWh basis. Lithium-ion cells enjoy the bulk of investment and remain the preferred technology for a significant battery manufacturer. Additionally, most battery manufacturers use lithium family batteries in their production process. The continuous reduction in lithium-ion cell prices would make advanced lithium-ion batteries much more affordable to the end user. Moreover, governments worldwide are accelerating the transition to electric mobility, which will boost the growth of the advanced lithium-ion battery market.

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Segment Analysis

The global Advanced Lithium-Ion Battery market has been segmented based on Material, Component Capacity End Use, and Region.

Based on material, the global advanced lithium-ion battery market has been segmented into Anode materials and Cathode materials. Among these, the Cathode materials is projected to dominate the global Advanced Lithium-Ion Battery market revenue through the projected period with the Anode materials holds the second-largest segment by type in the global Advanced Lithium-Ion Battery market, and its prominence can be attributed to its widespread adoption across a spectrum of industries and applications. Li-ion batteries' major component, cathode materials, control a cell's energy density through cell voltage and capacity. Lithium-ion batteries are frequently based on intercalation/deintercalation compounds. Lithium ions supplied by the cathode are injected into the host lattice (anode) during charge and withdrawn during discharge with a slight structural change in the host material. The selection of cathode material for specific chemistry is influenced by several variables, including the voltage, capacity, energy and power capabilities, cycle life, and operating temperature of the cell.

Based on component capacity, the global advanced lithium-ion battery market has been segmented into Separators, Current Collectors, Binders, Solvents, and Solid-State Electrolytes. Out of which the Solid-State Electrolytes segment held the maximum share in the base year market and is also expected to be holding a significant share in the forecasted period as well.  A solid-state electrolyte's key selling point is that it will not catch fire and can be used effectively in battery cells. Solid-state batteries exclusively use lithium-oxygen and nitrogen-based polymer thin film electrolytes.

Based on end-use, the global advanced lithium-ion battery market has been segmented into Consumer Electronics, Automotive, Industrial, and Others. Out of which the Consumer Electronics segment held the maximum share in the base year market and is also expected to be holding a significant share in the forecasted period as well. Consumer electronics is one of the most popular electronic, computing, and communication equipment types. This is attributed to the procurement of consumer electronic devices in China and the US.

Regional Analysis

By Region, the Advanced Lithium-Ion Battery market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. The Asia-Pacific Advanced Lithium-Ion Battery market holds the considerable market share and is also forecasted to hold the largest share during the forecast period. Asia-Pacific is expected to expand significantly during the forecast period due to increased demand for electric vehicles, primarily in developing countries such as China and India. The region dominated the market with a more than 40.0 percent revenue share in 2021. Due to the growing environmental concerns, China has banned traditional fossil fuel-powered scooters from all its main cities to cut pollution, which has increased the country's e-scooter sales. Using tools powered by lithium-ion batteries has expanded due to Asia-Pacific's growth as a central global manufacturing hub.

The region also has the most population in the entire world. As a result, consumer devices that rely on lithium-ion batteries for functioning, such as mobile phones, and laptops, see strong sales in Asia-Pacific. The growing electric vehicles market in Asia-Pacific countries, such as India and China, is a significant factor that positively influences the demand for lithium-ion batteries. These countries have substantial potential for several application areas for lithium-ion batteries. Also, large electronic manufacturers such as Sony Corp, Samsung SDI, and Panasonic fuel the market growth in this region.

Key Findings of the Study

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  The global Advanced Lithium-Ion Battery market is expected to reach 1,72,401.19 million by 2030, at a CAGR of 17.95% during the forecast period.

  
  


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  The Asia Pacific region accounted for the fastest-growing global market.

  
  


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  Based on Material, the Cathode materials segment was attributed to holding the largest market in the forecasted period.

  
  


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  Based on component capacity, the Solid-State Electrolytes segment held the maximum share in the base year market.

  
  


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  Based on End Use, the Consumer Electronics segment was attributed to holding the largest market in forecasted period.

  
  


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  LG Chem, Panasonic, Byd Motors Inc, Samsung SDI, Toshiba, Contemporary Amperex Technology Co., Limited, Broadbit Batteries Oy, 24m Technologies, NGK Insulators, Johnson Battery Technologies, Inc, Durapower Group, Tanktwo, Johnson Matthey, Voltaiq, Prieto Battery Inc, Cadenza Innovation Inc, SK Innovations are the key market players.