PUBLISHER: The Business Research Company | PRODUCT CODE: 1274736
PUBLISHER: The Business Research Company | PRODUCT CODE: 1274736
“Automotive Lithium-ion Battery Cell Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on automotive lithium-ion battery cell market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for automotive lithium-ion battery cell? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The automotive lithium-ion battery cell market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Major players in the automotive lithium-ion battery cell market are Samsung SDI Co. Ltd., Toshiba Corporation, Contemporary Ampere Technology Co. Ltd, LG Chem Ltd., GS Yuasa International Ltd., Johnson Controls International Plc., Panasonic Corporation, East Penn Manufacturing Co., BYD Company Ltd., Automotive Energy Supply Corp. (AESC), Crown Battery Manufacturing, Duracell International Inc, Enersys Inc., Exide Industries Limited, Narada Power Source Co. Ltd, A123 Systems LLC, and Exicom Power Solutions.
The global automotive lithium-ion battery cell market is expected to grow from $63.10 billion in 2022 to $80.68 billion in 2023 at a compound annual growth rate (CAGR) of 27.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The automotive lithium-ion battery cell market is expected to reach $200.63 billion in 2027 at a CAGR of 25.6%.
The automotive lithium-ion battery cell market consists of nickel-metal hydride batteries and lead-acid batteries. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
An automobile lithium-ion (Li-ion) battery cell is a specialized battery technology that relies heavily on lithium ions in its electrochemistry. A lithium-ion battery comprises of numerous individual cells bundled together to provide the proper voltage, power, and energy, which are then stacked into various modules and then merged into the full battery pack.
Asia-Pacific was the largest region in the automotive lithium-ion battery cell market in 2022. The regions covered in automotive lithium-ion battery cell report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of automotive lithium-ion battery cells are lithium iron phosphate (LFP), lithium cobalt oxide (LCO), lithium manganese oxide (LMO) and lithium nickel manganese cobalt oxide (NMC). A lithium iron phosphate (LFP) battery is a form of lithium-ion battery that can charge and discharge at much faster rates than other types of batteries. The cell types involved are cylindrical, prismatic pouch cells which are used for battery electric vehicles (BEV), plug-in hybrid electric vehicles (PHEV) and fuel-cell electric vehicles.
The rising electrification of vehicles across the globe is expected to propel the growth of the automotive lithium-ion battery cell market going forward. Vehicle electrification is the process of using electricity to power a vehicle, replacing components that use a conventional energy source with components that use electricity. Lithium-ion batteries are commonly used in vehicle electrification due to their high energy density and ability to provide high power output as they can store large amounts of energy in a relatively small and lightweight package, self-discharge at a lower rate than other battery types making them ideal for vehicle electrification. For Instance, according to September 2022 published, Global EV Outlook 2022 report, published by International Energy Agency, a France-based autonomous intergovernmental organization, global electric vehicle (EV) sales had doubled from the previous year in 2021, reaching a new high of 6.6 million units sales. Additionally, the sales of electric car vehicles worldwide in 2021 have reached 6600000 units from 2980000 units. Therefore, the rising electrification of vehicles across the globe will drive the automotive lithium-ion battery cell market.
Technological advancements are a key trend gaining popularity in the automotive lithium-ion battery cell market. Major companies operating in the automotive lithium-ion battery cell market are focused on developing innovative solutions to strengthen their position in the market. For instance, in October 2022, Natrion Inc., a US-based automotive component and battery manufacturer revealed a patented solid-electrolyte separator, LISIC278, for use in Li-ion battery cells with graphite anodes for EV battery cells. The new material is a modified version of Natrion's proprietary Lithium Solid Ionic Composite (LISIC) electrolyte designed to replicate the precise specs of a regular polyolefin separator while using the substantially less liquid electrolyte. It does this by providing strong ion transport capabilities at ambient temperatures while having a thermal resistance of more than 200°C and being completely dense (zero porosity). LISIC batteries have a near-zero fire risk, and the likelihood of a thermal incident worsening or expanding is considerably decreased.
In February 2022, BorgWarner Inc., a US-based vendor of automotive engineering systems and components acquired AKASOL AG. for an undisclosed amount. This acquisition is intended to greatly boost the business's commercial vehicle and industrial electrification capabilities, putting BorgWarner in a strong position to benefit from what it perceives to be a rapidly rising battery system market. Akasol AG is a Germany-based producer of lithium-ion battery systems that provide safe, dependable, and compatible power on a large scale for worldwide electric transportation.
The countries covered in the automotive lithium-ion battery cell market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The automotive lithium-ion battery cell market research report is one of a series of new reports from The Business Research Company that provides automotive lithium-ion battery cell market statistics, including automotive lithium-ion battery cell industry global market size, regional shares, competitors with automotive lithium-ion battery cell market share, detailed automotive lithium-ion battery cell market segments, market trends, and opportunities, and any further data you may need to thrive in the automotive lithium-ion battery cell industry. This automotive lithium-ion battery cell market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.