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Rack Mounted Lithium Battery Pack

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Global Lithium-ion Battery Market: Trends and Opportunities

  • Rise in the demand for electric vehicles, including electric bikes and energy storage applications, is increasing the demand for lithium-ion batteries.
  • The market share of lithium-ion batteries in the overall lithium market increased from 25% in 2007 to 35.0% in 2015.
  • Governments across the world are promoting the use of electric vehicles. For example, in China, the government has mandated that automotive players having a production capacity of more than 50,000 units per year must ensure that electric vehicle sales account for 8.0% of their overall sales in 2018.
  • Across the world, rise in the demand for smartphone is increasing the demand for lithium-ion batteries.
  • It is expected that, the demand for lithium-ion batteries in consumer electronics products such as smartphones, laptops, and other digital devices will rise from 26 GWh in 2015 to 37 GWH in 2020, and to 54 GWh in 2025.
  • In FY2018, according to Japan-based global lithium-ion battery manufacturer Murata Manufacturing Co., Ltd., the number of smartphones, desktops, notebooks, and tablets having installed lithium-ion batteries was 1,360 million, 100 million, 160 million, and 150 million, respectively. Thus, increase in the sales of consumer electronics products is increasing the demand for lithium-ion batteries.
  • A trend observed in the global lithium-ion battery market is the continuous decrease in the prices of lithium-ion batteries.
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