Research Report on Global Lithium-Ion Battery Market Size & Share to Surpass $165.65 Billion by 2030: Growing research on improving overall battery efficiency to drive market demand by Facts & Factors

Lithium-Ion Battery Market: Overview

A lithium-ion battery, also known as a Li-ion battery is an energy storage method that works on the property of lithium-ions to reduce reversibly. It is a rechargeable battery making it more cost-effective. Li-ion batteries are used extensively in electric vehicles and consumer electronic products however the applications also extend to aerospace and grid-scale energy storage. Li-ion batteries are more popular because they have low self-discharge, energy densities, and zero to minimal memory effect also known as the lazy battery effect which is generally observed in nickel-cadmium rechargeable batteries resulting in a lesser hold on the charge. In the majority of lithium-ion batteries, the positive electrode is made of a metal oxide whereas the negative electrode is typically carbon-made graphite.

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Key Insights:

Facts and Factors published the latest report titled "Lithium-Ion Battery Market Size, Share, Growth Analysis Report By Application (Automotives, Consumer Electronics, Aerospace & Defense, Telecom, Medical, and Others), By Type (NCA, Li-NMC, LCO, LFP, and LMO), By Capacity (More than 60,000 mAh, 10,001 - 60,000 mAh, 3,001 - 10,000 mAh, and 0-3,000 mAh), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2030" into their research database.

Industry Dynamics:

Global Lithium-Ion Battery Market: Growth Drivers

The global lithium-ion battery market is projected to benefit from the rising research activities and growing investments in the development of technically enhanced batteries that can outperform all their predecessors and pave a way for a li-ion battery range that has a highly optimized performance outcome. Some of the advancements include research on changing the components used to manufacture anode or cathode.

For instance, Sila Nanotechnologies, a company working in the engineered material segment, is working toward soon replacing graphite anode, which causes the overall weight of the battery to increase by almost 15% and forms a significant amount of the bulk, with an in-house developed silicon. The company claims that this change will also assist in increasing battery efficiency from 20% to 40% while also making the charging process quicker. Furthermore, research directed toward improving safety concerns, extended lifetime, and cost-reduction is projected to act as growth-propelling factors. 

Global Lithium-Ion Battery Market: Restraints

Lithium-ion batteries can sometimes become a safety hazard which is generally introduced due to the error in the manufacturing process. Many cases of lithium-ion batteries exploding have been reported worldwide. It is caused due to an event called thermal runaway during which there is an excess of heat that is generated in the battery while the dispersion rate is really low. Factors like avoiding overcharging, storing them at high temperatures, or all lithium-ion powered products together are some of the ways that can protect li-ion batteries from exploding. The safety concerns around the batteries are expected to act as major lithium-ion battery industry growth restraints.

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Global Lithium-Ion Battery Market: Opportunities

The global lithium-ion battery market is projected to grow further during the forecast period owing to the rising population which means that there will be a larger consumer database during the growth period as demand for lithium-ion-powered products may increase. There are more expansion opportunities for the global market in the unexplored regions as well including underdeveloped nations that are currently moving toward economic growth. The rising emphasis on low-cost generation by integrating li-ion batteries with power grid structures by replacing diesel used in generators is a prime example of how developing economies could offer lucrative positive opportunities.

Global Lithium-Ion Battery Market: Challenges

Li-ion batteries are inherently sensitive to high temperatures making them highly flammable if not stored in the right condition. This means that products that use li-ion batteries as power sources cannot be placed under high temperatures or the makers of the products have to invest in high technologies that can help li-ion batteries better manage incidences where they are subjected to increased temperatures like power grids. It currently poses a major challenge for the lithium-ion battery industry players as not only is it a safety hazard but also adds to the overall cost of the product.

Global Lithium-Ion Battery Market: Segmentation

Based on application, the global market is divided into automotive, consumer electronics, aerospace & defense, telecom, medical, and others

Based on type, the global market is divided into NCA, Li-NMC, LCO, LFP, and LMO. Lithium Nickel-Cobalt-Aluminum Oxide (NCA), Lithium nickel manganese cobalt oxides (Li-NM), Lithium cobalt battery (LCO), Lithium iron phosphate battery (LFP), and Lithium-ion manganese oxide battery (LMO) are the various battery types that function using lithium ions.

Based on capacity, the global market is segmented into more than 60,000 mAh, 10,001 - 60,000 mAh, 3,001 - 10,000 mAh, and 0-3,000 mAh

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List of Key Players in Lithium-Ion Battery Market:

Key questions answered in this report:

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Recent Developments

Regional Dominance:

The global lithium-ion battery market is projected to witness the highest growth in Asia-Pacific. In 2021, the regional market dominated more than 41.1% of the global market share. The growth is expected to be led by countries like China and India which are registering a high population growth rate coupled with increasing disposable income leading to the expansion of the consumer goods sector further encouraged by the growing additions of new market players offering products across price range and accommodating the requirements of the population from every income segment.

Additionally, the rise in the number of players manufacturing or selling li-ion batteries has increased considerably in the last few years with China becoming the leading producer of lithium-ion batteries in 2021. The country's production capacity has increased tremendously allowing it to dominate not only the regional market but the global segment as well.

Global LITHIUM-ION BATTERY Market is segmented as follows:

Lithium-Ion Battery Market: By Application Outlook (2022-2030)

Lithium-Ion Battery Market: By Type Outlook (2022-2030)

Lithium-Ion Battery Market: By Capacity Outlook (2022-2030)

Lithium-Ion Battery Market: By Region Outlook (2022-2030)

North America

Europe

Asia Pacific

Latin America

Middle East & Africa

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