Automotive Lithium-Ion Battery Market Overview and Segmented Products Forecast To 2025
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<strong>Automotive</strong> <strong>Lithium</strong>-<strong>Ion</strong> <strong>Battery</strong> <strong>Market</strong> <strong>Overview</strong> <strong>and</strong><br />
<strong>Segmented</strong> <strong>Products</strong> | <strong>Forecast</strong> <strong>To</strong> <strong>2025</strong><br />
“Global <strong>Automotive</strong> <strong>Lithium</strong>-<strong>Ion</strong> <strong>Battery</strong> <strong>Market</strong> report includes in-depth<br />
analysis of industry by recent technologies, trends, opportunities, challenges,<br />
key players <strong>and</strong> business strategies considering types, segment <strong>and</strong> future<br />
outlook.”<br />
Increasing awareness regarding the advantages of Electric Vehicles (EVs) backed by favorable<br />
government initiatives is anticipated to drive the global automotive lithium-ion battery market<br />
over the forecast period. Rising need for high power <strong>and</strong> high energy density along with<br />
excellent safety performance along with minimum self-discharge <strong>and</strong> low maintenance<br />
capabilities are stimulating growth in industry.<br />
Escalated adoption of Li-ion batteries in hybrid electric vehicles is driving industry growth.<br />
<strong>Automotive</strong> Li-ion batteries provide higher efficiency than traditional Lead batteries.<br />
Additionally, Li-ion batteries are perceived as green alternatives to lead <strong>and</strong> Absorbed Glass Mat<br />
(AGM) batteries. High endurance feature makes these batteries apt for high drain devices <strong>and</strong><br />
automobiles.<br />
Li-ion batteries are relatively lighter in weight <strong>and</strong> more compact than conventional batteries.<br />
Employing the battery with slim laminated structure <strong>and</strong> fewer parts has amplified its flexibility,<br />
making its installation easier than its counterparts. Automobile industry is increasingly adopting<br />
Li-ion batteries as it is the most promising <strong>and</strong> fastest growing battery chemistry.<br />
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Light weight <strong>and</strong> high electrochemical potential of <strong>Lithium</strong> metal can be attributed as a major<br />
reason for increased adoption of Li-ion batteries in automobiles <strong>Automotive</strong> Li-ion batteries are<br />
experiencing an upsurge in dem<strong>and</strong> owing to capabilities such as prolonged battery life, low<br />
maintenance <strong>and</strong> low self-discharge rate than the usual nickel-cadmium car batteries. Li-ion<br />
batteries are swiftly replacing lead-acid batteries as these batteries are well suited for<br />
contemporary fuel gauge applications. Additionally, Li-ion batteries offer greater safety to<br />
automobile users than the potentially hazardous lead-acid batteries.<br />
The global automotive Li-ion batteries market can be segmented on the basis of applications<br />
into Starting Lighting Ignition (SLI), Idle Stop, <strong>and</strong> Hybrid & electric vehicles. The Hybrid <strong>and</strong><br />
electric vehicles segment is anticipated to witness high growth owing to escalating dem<strong>and</strong> for<br />
Li-ion batteries in <strong>Battery</strong> Electric Vehicles (BEVs), Plug-in Hybrid Electric Vehicles (PHEVs) <strong>and</strong><br />
Hybrid Electric Vehicles (HEVs). <strong>Lithium</strong>-ion batteries are relatively expensive; however, with<br />
appropriate price modeling the SLI segment is projected to witness high growth.<br />
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https://www.millioninsights.com/industry-reports/automotive-lithium-ion-battery-market<br />
Enhanced battery performance <strong>and</strong> dynamics are anticipated to propel the dem<strong>and</strong> in Idle Stop<br />
segment. <strong>Automotive</strong> batteries are a common source of problems for users in cold regions.<br />
Automobile failures owing to frozen electrolyte have created a high dem<strong>and</strong> for Li-ion batteries.<br />
These batteries are designed to operate well in freezing temperatures as low as -40°F. Low<br />
temperature operability has made these batteries highly desirable in cold regions of North<br />
America <strong>and</strong> Europe.<br />
Countries from the European Union have stressed on the need of creating a sustainable<br />
environment <strong>and</strong> are formulating <strong>and</strong> implementing strategies to minimizing the carbon<br />
footprint. Stringent rules <strong>and</strong> regulations in countries such as Germany <strong>and</strong> the UK are<br />
instrumental in increasing the dem<strong>and</strong> for automotive Li-ion batteries. Strong presence of<br />
automobile manufacturers, focusing on safe <strong>and</strong> environment friendly batteries are expected<br />
to impel growth in the industry. Robust upstream supply chain for Li-ion battery production <strong>and</strong><br />
commercialization is driving the industry growth in Asia Pacific regional market. Governments<br />
in Japan, China <strong>and</strong> Korea are supporting market vendors to meet the aggressive goals for<br />
domestic production of Li-ion batteries through tax rebates <strong>and</strong> other investment incentives to<br />
encourage the adoption of EVs amongst consumers.
Japan’s <strong>Lithium</strong>-ion cluster is projected to grow owing to sustained investments in Li-ion<br />
technology. The Japanese government is undertaking initiatives to boost private sector<br />
investments with R&D funding <strong>and</strong> low cost capital for establishing manufacturing plants.<br />
However, lack of awareness among underdeveloped countries may hinder the industry growth.<br />
Operational issues such as voltage drop <strong>and</strong> shorter shelf life are further anticipated to drive<br />
down the growth opportunities.<br />
Moreover, recycling of these batteries is highly complicated owing to <strong>Lithium</strong>’s property of being<br />
inherently unstable. Thermal runaway <strong>and</strong> venting may cause fires, making them less desirable.<br />
Key recharged vendors dominating the automotive lithium-ion battery market are A123 Systems<br />
LLC, <strong>Automotive</strong> Energy Supply Corporation, Boston-Power Inc., BYD Auto Co Ltd., E-One Moli<br />
Energy Corp., Johnson Controls Inc., LG Chem Ltd., <strong>Lithium</strong> Energy Japan Corporation, Panasonic<br />
Corporation, Robert Bosch GmbH, <strong>and</strong> Samsung SDI Co.<br />
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