The global market for lithium-ion battery is projected to have a considerable CAGR of around 14.6% during the forecast period. Lithium-ion batteries are rechargeable batteries in which lithium ions move from cathode to anode during discharge and back through an electrolytic solution when recharged. Lithium-ion batteries gained popularity due to their usage in major applications which include automotive, consumer, and industrial owing to their additional features such as high-open circuit voltage, low self-discharge, and low maintenance, and longer shelf life. Lithium-ion batteries are majorly used in consumer electronics such as laptops, smartphones, smartwatches, activity trackers, and many more. The increasing demand for these applications augmented the growth of the market.

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The global lithium-ion battery market is segmented based on end-user into automotive applications, consumer electronics, industrial. The lithium-ion battery for consumer electronics holds the major market share owing to the increasing demand for these batteries in consumer appliances such as laptops, and mobiles due to portability, and high energy density.

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Moreover, the other application of these batteries gaining ground in recent years is their use in military, aerospace, and electric vehicles including BEVs, PHEVs, HEVs. The supportive government initiatives for the adoption of electric vehicles to curb the environmental pollution generated by ICE vehicles is the major factor that accelerates the growth of electric vehicles which, in turn, further increases the demand for lithium-ion batteries as its main component. However, the main concern associated with the production of lithium-ion batteries is its cost. The high cost of batteries is anticipated to restrain the market growth. The technology innovations to reduce the cost of these batteries with high power capacity can generate more opportunities in the lithium-ion battery market.

Global Lithium-ion Battery Market – Segmentation
By End-User
Automotive
Consumer Electronics
Industrial

Global Lithium-ion Battery Market – Segmentation by Region 
North America 
United States
Canada
Europe
Germany
United Kingdom
France
Spain
Italy
Rest of Europe
Asia-Pacific 
China
Japan
India
Rest of Asia-Pacific
Rest of the World

Company Profiles
BYD Company Ltd.
ENVISION AESC GROUP LTD (Envision Group)
BASF SE
Contemporary Amperex Technology Co., Ltd.
CALB Inc.
Energus Power Solutions, Ltd
Farasis Energy(GanZhou)Co.,Ltd.
GS Yuasa International Ltd.
Showa Denko Materials Co., Ltd. (Hitachi Chemical Co., Ltd)
Johnson Controls, Inc.
LG Chem.
LITHIUMWERKS
MaxPower, Inc.
Navitas System, LLC
Panasonic Corp.
ProLogium Technology Co., Ltd.
Solvay SA
SAMSUNG SDI CO.,LTD
Toshiba Corp.
VARTA AG
Umicore N.V.

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