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Asia Pacific Lithium Ion Battery Market Research Report, Trends, Growth Analysis, By End Users, By Power Rating & by Region with Forecast 2017-2030
Asia Pacific Lithium Ion Battery Market Overview
Lithium ion battery technology is widely embraced and adopted for portable electronics, power tools and hybrid/electric vehicles across the globe. In recent years, electric vehicles industry has witnessed significant growth in its sales volume owing to government initiative to replace the majority of IC engine powered vehicles and boosted the demand for lithium ion batteries. Moreover, the high energy efficiency and power density of LI-ion batteries allowed their use in various electric grid applications and to improve quality of energy harvested from wind, solar and other renewable sources, thus contributing in building energy-sustainable environment which is one of the key factors driving the growth of Asia Pacific lithium ion battery.
Goldstein Market Intelligence analyst forecast the Asia Pacific lithium ion battery market to grow at a CAGR of 12.1% through the period 2017-2030.
Asia Pacific Lithium Ion Battery Market Segmentation
By Power Rating
More than 300 KWh
By End Users
Grid Energy & Industrial
Other ( Defense and Aerospace)
On the basis of end users, consumer electronics industry accounted for the highest revenue share of 52% in Asia Pacific lithium ion battery. Moreover, the consumer electronics segment is anticipated to dominate the market with a CAGR of 10.9% over the forecast period.
Geographically, China region dominated the Asia Pacific lithium ion battery market, with more than 48% revenue share in Asia Pacific market owing to huge consumer electronics and electric vehicles market in the country. China is expected to dominate the Lithium Ion Battery market over the forecast period followed by Japan and Korea due to large lithium ion battery production in these countries. India is showcasing huge growth opportunities for the market growth owing to government initiatives to rapid adopt of electric vehicles in coming years and huge market for consumer electronics.
Government Initiatives for faster Adoption and Deployment of EVs to Drive Li-ion Battery Market Growth in APAC
According to our Asia Pacific lithium ion battery market study on the basis of extensive primary and secondary research, one of the major trend that driving the growth of lithium ion battery market is the government initiatives for faster adoption and deployment of electric vehicles. For instance, Indian government is looking to give a major push to use of EVs and the main challenge would be in reducing the cost of lithium-ion battery used in electric vehicles, to overcome the challenge the government is planning to take initiatives in order to set up large lithium-ion batteries manufacturing plants in India.
According to the report, major driver in Asia Pacific lithium ion battery market is growing adoption of lithium ion battery powered electric vehicles across the globe. Electric vehicles are highly attractive for their potential to reduce greenhouse gas emissions and shrink the dependence on oil. By 2020, more than one third of new vehicle sales will likely consist of hybrid-electric, plug-in hybrid, and all-electric models, which is likely to drive the growth of Li-ion battery market.
High Cost of Li-ion Batteries- Major Challenge
Further, the report states that one challenge in Asia Pacific lithium ion battery market is high cost of lithium ion batteries. The exponential growth of lithium ion technology for the latter applications will depend largely on the cost, safety, life cycle and power density, which are the major challenges to develop cost efficient and high power density Li-ion batteries.
Covered in this Asia Pacific lithium ion battery market report
The report covers the present ground scenario and the future growth prospects of the Asia Pacific lithium ion battery market for 2017-2030 along with the total sales of lithium ion battery products in every region. We calculated the market size and revenue share on the basis of revenue generated from the sales of lithium ion battery to various end user industries across the region.
Asia Pacific Lithium Ion Battery Market Outlook 2017-2030, has been prepared based on an in-depth market analysis from industry experts. The report covers the competitive landscape and current position of major players in the Asia Pacific lithium ion battery market. The report also includes porter’s five force model, SWOT analysis, company profiling, business strategies of market players and their business models. Asia Pacific lithium ion battery market report also recognizes value chain analysis to understand the cost differentiation to provide competitive advantage to the existing and new entry players.
Key Market Players
Our Asia Pacific lithium ion battery market report comprises of the following companies as the key players in the Asia Pacific lithium ion battery market.
Hitachi Chemical Co. Ltd.
Johnson Controls, Inc.
Samsung SDI Co. Ltd.
LG Chem Power Inc.
A123 Systems LLC.
Saft Groupe SA
GS Yuasa Corporation
Automotive Energy Supply Corporation (AESC)
BYD Company Ltd.
Valence Technology Inc.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.