PUBLISHER: Market Research Future | PRODUCT CODE: 1684508
PUBLISHER: Market Research Future | PRODUCT CODE: 1684508
Global Advanced Lithium-Ion Battery Market Research Report Information By Type (Anode Materials, Cathode Materials) By Component Capacity (Separators, Current Collectors, Binders, Solvents, Solid-State Electrolytes) By End Use (Consumer Electronics, Automotive, Industrial, and Others) and By Region Forecast to 2030
In 2022, the advanced lithium-ion battery market was estimated to be worth USD 46,010.43 million. The market for advanced lithium-ion batteries is expected to expand at a compound annual growth rate (CAGR) of 17.95% from 2021 to 2030, from USD 55,392.36 million in 2023 to USD 1,72,401.19 million.
The government's global EV mobility push and lithium-ion battery manufacturers' strategic R&D investments are driving the rapid growth of the advanced lithium-ion battery market. Additionally, the implementation of lean manufacturing practices and improved battery technology are anticipated to offer potential prospects for the worldwide market's participants.
Key factors include government initiatives for EV mobility globally and lithium-ion battery manufacturers' significant investments in research and development are anticipated to propel the expansion of the advanced lithium-ion battery market. The expensive price of sophisticated lithium-ion batteries and the rising number of battery failures, however, are anticipated to limit market expansion. However, the globally advanced lithium-ion battery industry has a lot of prospects due to improved battery technology and the adoption of lean production practices.
Discounts, coupon reimbursement, interest subventions, road tax exemptions, income tax benefits, and scrapping incentives are only a few of the financial incentives that governments in different nations provide to lower the cost of electric vehicles. The National Electric Mobility Mission Plan 2020 has also been introduced by the Indian government. Two systems, FAME 1 and FAME 2, have been developed by this mission. Increasing electric mobility is the goal of the Faster Adoption and Manufacturing of Electric Vehicles (FAME India) program.
Perspectives on Market Segments
Anode and cathode materials are the two categories into which the advanced lithium-ion battery market has been divided based on material.
The Advanced Lithium-Ion Battery Market is divided into Solid-State Electrolytes, Binders, Solvents, Current Collectors, and Separators based on component capacity.
The Advanced Lithium-Ion Battery Market is divided into four segments based on end use: consumer electronics, automotive, industrial, and others.
Regional Perspectives
Geographically, the market for advanced lithium-ion batteries is divided into Latin America, Asia-Pacific, Europe, North America, and the Middle East and Africa. The market for advanced lithium-ion batteries in the Asia-Pacific region has the largest market share and is anticipated to generate a sizable revenue share throughout the course of the forecast period. As a global center for manufacturing, the Asia-Pacific area has become a major force in the advanced lithium-ion battery market. The growing demand for electric vehicles, particularly in developing nations like China and India, is anticipated to drive considerable expansion in the Asia-Pacific region throughout the forecast period.
The demand for lithium-ion batteries is positively impacted by the expanding market for electric vehicles in Asia-Pacific nations like China and India. These nations provide significant promise for a few lithium-ion battery application sectors. Additionally, major electronics producers like Panasonic, Samsung SDI, and Sony Corp. support the expansion of the market in this area.
The market's leading companies are Lum Chem, Panasonic, Byd Motors Inc., Samsung Sdi, Toshiba, Broadbit Batteries Oy, 24m Technologies, NGK Insulators, Johnson Battery Technologies, Inc., Durapower Group, Tanktwo, Johnson Matthey, Voltaiq, Prieto Battery Inc., Cadenza Innovation Inc., and SK Innovations.