The global automotive lithium ion battery pack market is expected to
represent a value of over US$ 32,300 Mn to reflect a CAGR of 12.5% over
the forecast period, 2017-2026.
This report provides in depth study of “Automotive Lithium Ion Battery Pack Market” using SWOT analysis i.e. Strength, Weakness, Opportunities and Threat to the
organization. The Automotive Lithium Ion Battery Pack Market report also
provides an in-depth survey of key players in the market which is based
on the various objectives of an organization such as profiling, the
product outline, the quantity of production, required raw material, and
the financial health of the organization.
Preference for cost-effective and environment-friendly options in the automotive
industry has led to an upsurge in demand of hybrid and plug-in hybrid
vehicles. In addition, imposition of various government regulations is
projected to impact the global market growth positively. Persistence
Market Research states that the global market of automotive lithium ion
battery pack is projected to reflect a CAGR of 12.5% over the forecast
period, 2017-2026.
Factors Fuelling Global Market Growth
Growth of the global automotive lithium ion battery pack market is mainly
bound to various macro-economic and micro-economic factors. As the need
for rechargeable batteries with the high energy density continue to
increase, demand for the lithium ion batteries is projected to remain
high. Adoption of the lithium ion batteries is mainly bound to
increasing production of the digital cameras, smartphones, tablets/PC
and power tools. With the increasing registration of vehicles, sales of
the automotive lithium ion battery packs is projected to increase
significantly in the automobile industry.
Governing authorities in several countries are encouraging the automotive
manufacturers to opt for environment-friendly options. Government in
several countries are further promoting the adoption of various plug-in
hybrid and hybrid vehicles in the global market. In order to lower the
level of pollution, the automotive manufacturers are increasingly
focusing on utilization of the sustainable energy. Adoption of plug-in
hybrid and hybrid vehicles for public transportation purposes is further
expected to contribute towards the global market growth significantly.
Sales of the lithium ion batteries will also continue to remain high
attributed to increasing demand for smartphones with enhanced battery
capacity. Speedy draining of the battery life will continue to become a
major concern among the manufacturers of smartphone. In order to offer
enhanced battery life and capacity, manufacturers are significantly
opting for lithium ion batteries during the production of various
smartphones. On the other hand, the level of performance of the lithium
ion batteries can also degrade and decay the battery in hot temperature
conditions. This factors could pose a major challenge towards the global
market growth of automotive lithium ion battery packs over the forecast
period.
Sales to Remain High for the Hybrid Electric Vehicles
Increasing adoption of hybrid vehicles as a public transport is projected to fuel
demand for a battery capacity of less than 20 kwh. In terms of revenues,
the less than 20 kwh battery capacity segment is projected to witness
the highest growth, recording for more than US$ 5,100 Mn by 2026-end. On
the other hand, the more than 41 battery capacity segment is projected
to reflect a significant CAGR over the forecast period.
By 2017-end, the hybrid electric vehicle (HEV) vehicle segment is
projected to represent a significant revenue growth, accounting for more
than US$ 2,000 Mn. In contrary, the full battery electric vehicle (BEV)
vehicle segment is projected to reflect a robust CAGR throughout the
forecast period.
Based on vehicle type, the others vehicle type segment is projected to
reflect a healthy CAGR over the forecast period. However, the passenger
vehicle type segment is projected to generate significant revnues,
recording for more than US$ 8,100 Mn by 2026-end.
Market Players
Major players in the global market of automotive lithium ion batteries pack
are Panasonic Corporation, Automotive Energy Supply Corporation, GS
Yuasa Corporation, BYD Company Limited, Samsung SDI Co., Ltd., LG Chem
Ltd., Hitachi Chemical Company, Ltd., Tesla Motors, Inc., Johnson
Controls International Plc., Narada Power Source Co. Ltd., Tianneng
Power International Co., Ltd., Johnson Controls International Plc.,
Furukawa Electric Co., Ltd., Crown Battery Corporation, Wanxiang Group
Corporation, EnerSys, Hoppecke Batterien GmbH & Co. KG., Leoch
International Technology Ltd., East Penn Manufacturing Co., Toshiba
Corporation and Coslight Technology International Group Co., Ltd.
