Lithium Batteries: Market is expected to grow at a CAGR of 15.8%

The global market for lithium batteries should grow from $22.7 billion in 2018 to $47.4 billion by 2023 with a compound annual growth rate (CAGR) of 15.8% for the period of 2018-2023.

Scope of Report:

This report begins with a discussion of primary and secondary lithium battery technologies and markets.

Lithium markets and technology are analyzed associated with the following product categories –
– Portable products
– Computing, smartphones, tablets.
– Others.
– Wearables (Non-Medical Related/Portable) – Consumer segment only.
Medical products
– Implantable.
– Not implantable.
– Wearables (Medical Related) – Consumer segment only.
Stationary applications
– Computer memory preservation.
– Uninterruptible power supplies.
– Load leveling and alternative energy storage.
– Residential energy storage.
Military/aerospace
– Primary batteries.
– Secondary batteries.
– Developmental.
Automotive and motive power
– Industrial electric vehicles (traction).
– Plug-ins and hybrid vehicle motive power (EVs, HEVs and BEVs).
– Automotive security.
– Fleet operations (primarily electric buses).

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The report focuses on these areas associated with battery materials:

Electrode materials and active elements
– Aluminum.
– Cobalt compounds.
– Conductive polymers.
– Copper compounds.
– Electrolytic manganese dioxide.
– Halogens.
– Fullerenes.
– Inorganic carbon.
– Lithium metal and compounds.
– Nickel metal and compounds.
– Rare earth compounds.
– Sulfur compounds.
– Vanadium compounds.
Lithium battery electrolytes.
– Battery separators.

Market segments are defined, leading global companies are identified, and the markets analyzed (including a five-year market projection). Additional chapters provide projection breakdowns by end-use sector, application and region. Chapter 8 provides a broad overview of patent activity and developments, while Chapter 9 provides an overview of market segmentation, a concise overview of key driving factors influencing markets, and additional forecasts associated with individual products.

Lithium battery companies are identified and profiled. Each profile includes points of contact and a discussion of structure, description and activity. These profiles are found in Chapter 10.

Report Includes:

– 87 data tables and 66 additional tables
– A detailed overview and an industry analysis of the lithium batteries in terms of markets and materials
– Analyses of global market trends, with data from 2017, 2018, and projections compound annual growth rates (CAGRs) through 2023
– Characterization and quantification of market potential for lithium batteries by major types of batteries, technologies, regions, applications and end-users
– Details pertaining to continuing evolution of electrification of transportation, the increasing use of energy storage systems both institutionally (electric utilities) and within the household (residential) sector, and the impact of innovations in wearable technologies on this market
– Profiles of major market players within the industry, including SAFT, A123 Systems, BASF Battery Materials, Sony Energy Devices Corp., Toshiba and 3M

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Summary

The global lithium battery market should be valued at $REDACTED billion at the wholesale level in 2018, upfrom $REDACTED billion in 2017. The global market is expected to grow rapidly over the next several years,and a significant contribution to this growth will come from both the transportation (primarily electricvehicles) and consumer sectors (primarily mature industries such as computing and smartphones). Total global market value in 2023 based on the forecast horizon is expected to top $REDACTED billion, equating to a REDACTED% CAGR from 2018 to 2023.

The market for nonrechargeable (primary) lithium batteries will be valued at $REDACTED billion in 2018, with the global market projected to grow to slightly less than $REDACTED billion by 2023. While a few product segments are expected to register small declines from their 2018 base, growth is expected to continue in established battery segments such as medical, military, auto security and computer memory preservation.

Several new segments are assessed in the current edition of this report, which explains some of the large increases over the previously released estimate for 2015 of $REDACTED billion. These additional segments include: wearable products, encompassing six categories: smartwatches; smart eyewear; smart clothing; other infotainment devices (including Bluetooth headsets and head-up displays); andtwo categories within the medical product segment – fitness trackers and medical devices. Two other segments added to this edition are residential energy storage (driven by PV solar/battery applications), and electric buses – a segment driven primarily by China and expected to grow rapidly and command a
fair share of manufacturer revenue.

These additional segments explain in part the large difference in total (primary and secondary) global market value between the previously released report ($REDACTED billion, 2015) and this current edition ($REDACTED billion, 2017). Assuming similarity in the assessed segments between the two versions, this difference of $REDACTED billion is reduced to $REDACTED billion. A significant portion of that growth is attributable to the increase in the production of electric vehicles (EVs) over the past few years, as numerous automobile manufacturers have committed to releasing new EV models. For example, as of 2014 there were a handful of EV models encompassing sales of a few hundred thousand units. As of the end of 2017, this number had increased to roughly REDACTED million and encompassed more than 150 models worldwide.

The rechargeable (secondary) lithium battery market stood at $REDACTED billion in 2018, up from $REDACTED billion in 2017, and is projected to grow to $REDACTED billion in 2023, representing a CAGR of REDACTED% over that forecast horizon. While growth in EVs had been characterized as disappointing in the previous version ofthis report, that sentiment seems to have been replaced by a more bullish attitude towards EV growth, to the point of provoking investor discussions and speculation of this growth impacting raw material supplies. While well-established segment categories such as portable product batteries will continue to hold a substantial share of market value, the transportation sector is expected to dominate growth insecondary lithium batteries – particularly in Asia, where regulatory regimes focused on emissions andrestrictions on internal combustion engines have combined to drive growth. An additional segmentcontributing to growth is the continued pace of energy storage development to su pport increased use ofrenewable energy.

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