Automotive Lithium-ion Battery Cell Global Market Report 2023: Sector to Reach $200.6 Billion by 2027 at a 25.6% CAGR
DUBLIN, May 18, 2023 /PRNewswire/ -- The "Automotive Lithium-ion Battery Cell Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global automotive lithium-ion battery cell market is expected to grow from $63.10 billion in 2022 to $80.68 billion in 2023 at a compound annual growth rate (CAGR) of 27.9%. The automotive lithium-ion battery cell market is expected to reach $200.63 billion in 2027 at a CAGR of 25.6%.
The rising electrification of vehicles across the globe is expected to propel the growth of the automotive lithium-ion battery cell market going forward. Vehicle electrification is the process of using electricity to power a vehicle, replacing components that use a conventional energy source with components that use electricity. Lithium-ion batteries are commonly used in vehicle electrification due to their high energy density and ability to provide high power output as they can store large amounts of energy in a relatively small and lightweight package, self-discharge at a lower rate than other battery types making them ideal for vehicle electrification.
For Instance, according to September 2022 published, Global EV Outlook 2022 report, published by International Energy Agency, a France-based autonomous intergovernmental organization, global electric vehicle (EV) sales had doubled from the previous year in 2021, reaching a new high of 6.6 million units sales. Additionally, the sales of electric car vehicles worldwide in 2021 have reached 6600000 units from 2980000 units. Therefore, the rising electrification of vehicles across the globe will drive the automotive lithium-ion battery cell market.
Technological advancements are a key trend gaining popularity in the automotive lithium-ion battery cell market. Major companies operating in the automotive lithium-ion battery cell market are focused on developing innovative solutions to strengthen their position in the market.
For instance, in October 2022, Natrion Inc., a US-based automotive component and battery manufacturer revealed a patented solid-electrolyte separator, LISIC278, for use in Li-ion battery cells with graphite anodes for EV battery cells. The new material is a modified version of Natrion's proprietary Lithium Solid Ionic Composite (LISIC) electrolyte designed to replicate the precise specs of a regular polyolefin separator while using the substantially less liquid electrolyte.
It does this by providing strong ion transport capabilities at ambient temperatures while having a thermal resistance of more than 200C and being completely dense (zero porosity). LISIC batteries have a near-zero fire risk, and the likelihood of a thermal incident worsening or expanding is considerably decreased.
In February 2022, BorgWarner Inc., a US-based vendor of automotive engineering systems and components acquired AKASOL AG. for an undisclosed amount. This acquisition is intended to greatly boost the business's commercial vehicle and industrial electrification capabilities, putting BorgWarner in a strong position to benefit from what it perceives to be a rapidly rising battery system market. Akasol AG is a Germany-based producer of lithium-ion battery systems that provide safe, dependable, and compatible power on a large scale for worldwide electric transportation.
Asia-Pacific was the largest region in the automotive lithium-ion battery cell market in 2022. The regions covered in automotive lithium-ion battery cell report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the automotive lithium-ion battery cell market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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Scope
Markets Covered:
1) By Type: Lithium Iron Phosphate (LFP); Lithium Cobalt Oxide (LCO); Lithium Manganese Oxide (LMO); Lithium Nickel Manganese Cobalt Oxide (NMC)
2) By Cell Type: Cylindrical; Prismatic; Pouch Cells
3) By Application: Battery Electric Vehicle (BEV); Plug-In Hybrid Electric Vehicle (PHEV); Fuel-Cell Electric Vehicle
Key Topics Covered:
1. Executive Summary
2. Automotive Lithium-ion Battery Cell Market Characteristics
3. Automotive Lithium-ion Battery Cell Market Trends And Strategies
4. Automotive Lithium-ion Battery Cell Market - Macro Economic Scenario
5. Automotive Lithium-ion Battery Cell Market Size And Growth
6. Automotive Lithium-ion Battery Cell Market Segmentation
7. Automotive Lithium-ion Battery Cell Market Regional And Country Analysis
7.1. Global Automotive Lithium-ion Battery Cell Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Automotive Lithium-ion Battery Cell Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
A selection of companies mentioned in this report includes
- Samsung SDI Co. Ltd.
- Toshiba Corporation
- Contemporary Ampere Technology Co. Ltd
- LG Chem Ltd.
- GS Yuasa International Ltd.
- Johnson Controls International Plc.
- Panasonic Corporation
- East Penn Manufacturing Co.
- BYD Company Ltd.
- Automotive Energy Supply Corp. (AESC)
- Crown Battery Manufacturing
- Duracell International Inc
- Enersys Inc.
- Exide Industries Limited
- Narada Power Source Co. Ltd
- A123 Systems LLC
- Exicom Power Solutions
For more information about this report visit https://www.researchandmarkets.com/r/dm1k5c
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