The growth of the market is driven by the increasing demand for plug - in vehicles and increasing demand for automation and battery.

Market Size – USD 36.20 billion in 2018, Market Growth - CAGR of 13.4%, Market Trends – Increasingly being used as a hybrid and full - battery electric vehicle (BEV) power source

The Lithium Ion Battery Market is forecasted to grow from USD 36.20 billion in 2018 to USD 109.72 billion by 2026, at a CAGR of 13.4%, during the forecast period. Lithium - ion batteries are increasingly being used as a hybrid and full - battery electric vehicle (BEV) power source.

Over the past couple of years, China, the US, and the European region have accounted for maximum sales of electric vehicles, which are primarily high-end electric vehicles. Roughly 1.6 million electric cars are on the roads in China until 2018, followed by 810,000 in the United States.

Furthermore, the falling battery prices, coupled with rising global automakers commitments, are expected to bring price - competitive electric vehicles to all the major light - duty vehicle segments as well, which in turn is expected to further increase demand for EVs, resulting in increased demand for lithium - ion batteries.

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Regions Covered in This Report:

  • North America(the U.S., Mexico, and Canada)
  • Latin America(Brazil and Rest of Latin America)
  • Asia Pacific(China, Japan, India, and Rest of Asia Pacific)
  • Europe(the U.K., Germany, France, and Rest of Europe)
  • Middle East & Africa(GCC Countries and Rest of Middle East & Africa)

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Global Lithium Ion Battery Market Segmentation:

Product Type Outlook:

  • Lithium cobalt oxide (LCO)
  • Lithium iron phosphate (LFP)
  • Lithium Nickel Cobalt Aluminum Oxide (NCA)
  • Lithium Manganese Oxide (LMO
  • Lithium Titanate
  • Lithium Nickel Manganese Cobalt

Application Outlook:

  • Automotive
  • Consumer electronics
  • Industrial
  • Energy Storage Systems

Key companies profiled in the report:

  • Samsung (South Korea),
  • BYD (China),
  • Sony (Japan),
  • LG Chem (South Korea),
  • Sanyo (Japan),
  • ATLASBX Co. Ltd. (South Korea),
  • Johnson Controls (US),
  • Exide Technologies (US),
  • Saft (France) and East Penn Manufacturing Co. (US).

Further key findings from the report suggest

  • Automotive segment is expected to reach USD 20.53 Billion in 2026. Even if electric car sales for personal use remain silenced in the future, fleet operators running electric cars will require batteries. Moreover, in emerging countries with lower lead-acid batteries there are more than 8 million e-rickshaws operating. They have short cycles of replacement. There's a huge opportunity.
  • The market for Asia Pacific is expected to reach USD 44.99 Billion in 2026. As a global hub for automotive manufacturing, China has enormous potential for market growth. Increased electric vehicle production and lithium ion batteries used in vehicles are driving China's market. In addition, China is also one of the world's leading electronic device manufacturers. Multiple applications in China are expected to drive the lithium ion battery market.

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