Market Outlook & Demand

Global lithium-ion battery market was valued at $30.1 million in 2017, and is projected to reach $100.4 million by 2025, growing at a compound annual growth rate of 17.1% from 2018 to 2025. The growing automotive industry in the region is also a significant factor contributing to the market growth. The growth is most likely to come from emerging markets, owing to the increasing population, rapid urbanization, and increasing purchasing power.

The lithium-ion battery market is highly fragmented with the presence of large number of domestic players that occupy around 60% market share of the overall figure. Among the different players, Panasonic Corporation dominated the market in 2017. However, the market share of Panasonic Corporation is expected to decrease in the coming years due to the intensifying competition among prominent players to acquire major portion of the market.

Market Demand

Some of the key players operating in the global lithium ion battery market include Automotive Energy Supply Corporation, Panasonic Corporation, Samsung SDI Co. Ltd., LG Chem Power (LGCPI), LITEC Co., Ltd., A123 Systems, LLC., Toshiba Corporation, Hitachi Chemical Co., Ltd., China BAK Battery Co. Ltd., and GS Yuasa International Ltd. The other players in the market (not included in the report) include Tesla, Johnson Controls International Plc., Saft Batteries, and BYD Company Ltd.