Market Research Report
Global Lithium Battery Charger ICs Market Research Report Forecast to 2023
|Global Lithium Battery Charger ICs Market Research Report Forecast to 2023|
Published: April 30, 2019
Market Research Future
Content info: 146 Pages
Delivery time: 1-2 business days
The capabilities of smart technology have paved the way for the adoption of portable and wearable electronic devices. The growing demand for smartphones, laptops, notebooks, and tablets requiring efficient chargers is driving the lithium battery charger IC market. Also, various medical products such as fitness bands, hearing aids, and diagnostic monitoring patches are being sold as wearable devices, which further fuels market growth. The increasing popularity of electric cars in countries such as China and Japan are also a key factor driving market growth in Asia-Pacific. Moreover, as the Internet of Things (IoT)-enabled devices become compact in size, the battery life becomes a key differentiator in IoT-powered devices. The increasing demand for consumer electronic products using lithium-ion batteries as a primary power source also triggers the growth in the lithium battery charger IC market. Furthermore, lithium batteries are majorly used to power electronic devices such as power tools, remote controls, video game systems, smart appliances, smart TVs, and household devices. The increasing adoption of automated guided vehicles, collaborative robots, automated warehouse robots, welding robots, painting robots, assembly robots, palletizing robots, and product inspection robots using lithium batteries for their power source is fueling the growth in the lithium battery charger IC.
The global lithium battery charger IC market, by type, has been sub-segmented into linear battery chargers, switching battery chargers, µModule battery chargers, pulse battery chargers, SMBus/I2C/SPI controlled battery chargers, buck/boost battery chargers. Switching battery chargers are likely to gain significant demand in the forthcoming years as they provide high efficiency and lower power dissipation over a wide range of input and battery voltage which allows the use of smaller and cheaper AC adapters.
The growing demand for smart devices and other consumer electronics products and increasing demand of industrial robotics are some of the major factors driving the market growth in the coming years. Whereas, security concerns due to overheating of lithium-ion batteries is expected to hamper the market growth in the coming years.
In January 2018, TOREX Semiconductor Ltd launched the XC6806 series of charging ICs for single-cell lithium-ion/polymer secondary batteries. These ICs can control battery charging and control systems and has a shutdown function, which disables power sully from batteries to devices. Moreover, these ICs can suppress current leakage from batteries when devices are not in use.
The global lithium battery charger ICs market was valued at USD 11.71 billion in the year 2017, which is expected to reach USD 34.45 billion by the end of the forecast period growing at ~21.11% CAGR.
The key players of the global lithium battery charger ICs market include Vishay Intertechnology, Inc., STMicroelectronics NV, Microchip Technology Inc., ROHM Company Ltd, TOREX Semiconductor Ltd, Future Technology Devices International (FTDI) Chip, Diodes Incorporated, ON Semiconductor Corporation, Intersil Corporation (Acquired by Renesas Electronics), Monolithic Power Systems, Inc., Active-Semi, Inc., Shanghai Nanxin Semiconductor Technology Co. Ltd, Richtek Technology Corporation, Texas Instruments Inc., Analog Devices Inc., NXP Semiconductors NV, Integrated Device Technologies Inc., Toshiba Corporation, New Japan Radio Co., Ltd, Maxim Integrated (MI), Silergy Corporation, and Holtek Semiconductors Inc.
Global Lithium Battery Charger ICs Market Analysis & Forecast, from 2017 to 2023
The global Lithium Battery Charger ICs market is expected to grow at a considerable rate during the forecast period, 2016-2022. Asia-Pacific is expected to show the highest growth in the lithium battery charger IC market as big companies are investing in various projects and initiatives, for example, Tesla invested in South Australia renewable project, which uses the world biggest lithium battery. Such investments result in increasing demand for cost reliable and efficient lithium battery charger ICs. North America is the second largest contributor to the growth of lithium battery charger ICs market due to the presence of key players such as Microchip Technology Inc., ON Semiconductor Corporation, Analog Devices Inc., and Maxim Integrated Products Inc. These companies are innovating technologies to make cost-efficient and safe battery charger ICs. Whereas Europe is expected to show significant growth in the lithium battery charger IC market, as Germany is contributing significantly to the manufacturing of electric vehicles; also, Germany is investing in clean energy generation which uses lithium batteries to store generated energy due to which they are implementing technological advancements in lithium battery charger ICs for fast, efficient, and low input voltage charging from solar and wind power sources.