12V Lithium-Ion Battery Market – Trends Forecast Till 2030

Market Snapshot

Market Overview

The Global 12V Lithium-Ion Battery Market size was estimated at USD 17.6 billion in 2023 and is projected to reach USD 40.3 billion in 2030 at a CAGR of 12.6% during the forecast period 2024-2030.

In comparison to their internal combustion engine counterparts, electric vehicles have demonstrated a reduced impact on the climate. This is a significant shift as both passenger and commercial electric vehicles are poised to redefine the trajectory of future transportation. In response to this trend, governments across the globe are progressively adopting greener, pollution-free mobility solutions. This transition is not only beneficial for the environment but is also expected to catalyze the growth of the lithium-ion battery industry.

These lithium-ion batteries are the power source of choice for electric vehicle manufacturers, including industry leaders like Tesla. The shift towards electric mobility is particularly noticeable in Europe, where stringent pollution standards and restrictions have been enacted. In addition, significant public transit projects focusing on electric mobility have been launched, further solidifying the continent's commitment to a greener future. This commitment to environmental sustainability and the adoption of electric vehicles is a clear indication of the direction in which global transportation trends are moving.

In the COVID-19 pandemic, the anticipated expansion of the lithium-ion battery market was experienced a downturn. This is primarily due to the pandemic's severe impact on the supply of batteries and other essential components, which has been brought about by significant disruptions in business operations and the global economy at large. The circumstances had notably affected the supply chain of the battery industry, causing a ripple effect that has further compounded the issue.

Delvens Industry Expert's Standpoint

The landscape of energy generation has undergone a substantial transformation in recent years, shifting away from traditional fossil fuels and moving towards more sustainable and renewable energy sources such as solar, wind, and hydroelectric power. This shift is being embraced by various economies worldwide, as they take proactive initiatives to transition towards cleaner, more environmentally friendly energy sources.

A prime example of this is the European Union, which is rapidly accelerating the implementation of solar photovoltaic (PV) and wind energy initiatives. This proactive approach is a strategic response to the looming threat of a potential energy crisis in the foreseeable future. In the year 2022 alone, the region saw a remarkable addition of over 50 GW of renewable energy in new capacity. This represents an impressive 45% increase compared to the previous year, indicating a strong commitment to renewable energy. The introduction of ambitious policies and targets, as outlined in the REPowerEU Plan and The Green Deal Industrial Plan, are expected to act as significant catalysts. These initiatives are anticipated to attract substantial investments in renewable energy projects throughout the European Union in the years to come. This strategic approach not only addresses the immediate energy needs but also ensures a sustainable and environmentally friendly future.

Market Portfolio

Key Findings

• Based on Type, The Lithium-Ion Battery Market is segmented into several categories, including lithium nickel manganese cobalt, lithium manganese oxide, lithium iron phosphate, lithium cobalt oxide, lithium nickel cobalt aluminum oxide, and lithium titanate oxide. Each of these segments represents a different type of lithium-ion battery, each with its own unique properties and applications. In 2021, the lithium cobalt oxide segment held the majority share, contributing to approximately 30% of the total Lithium-Ion Battery Market revenue. This significant share can be attributed to the high energy density and safety level of lithium cobalt oxide (LCO) batteries. These characteristics make them highly desirable for use in various electronic devices.

• Based on Industry, the worldwide industry for Lithium-Ion Batteries is diverse and expansive, with segmentation occurring across several sectors. These sectors include automotive, aerospace, consumer electronics, marine, industrial, power, telecommunication, and medical. Each of these sectors utilizes Lithium-Ion Batteries in various ways, reflecting the versatility and wide-ranging applicability of this technology. In the year 2021, the consumer electronics sector held the largest share of the Lithium-Ion Battery industry. This is largely due to the fact that consumer electronics items and portable devices have a significant need for portable batteries. These batteries provide the power necessary for these devices to function optimally and efficiently.

• The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. The Lithium-Ion Battery market in the Asia-Pacific region has been identified as holding the largest market share, a testament to its robust presence in the industry.

Regional Analysis

Asia pacific to Dominate the Market

• The Lithium-Ion Battery market in the Asia-Pacific region has been identified as holding the largest market share, a testament to its robust presence in the industry.
   
• Furthermore, it is projected to display a substantial Compound Annual Growth Rate (CAGR) throughout the duration of the study period. This anticipated growth can be largely attributed to escalating environmental concerns, which are increasingly influencing market trends and consumer behavior.

Competitive Landscape

• Panasonic Sanyo
• Automotive Energy Supply Corporation (AESC)
• LG Chem.
• SAMSUNG SDI Co.
• Li-Tec Battery GmbH
• Toshiba
• A123 Systems
• GS Yuasa
• Sony Corporation
• Beijing Pride Power
• BAK Group
• Toshiba Corporation
• Valence Technology
• Hitachi Chemical Co. Ltd.
• Johnson Controls
• TDK Corporation

Recent Developments

• In July 2023, Japanese researchers have developed lithium-ion batteries that don't rely on cobalt, a costly and resource-constrained material commonly found in commercial lithium-ion batteries. Their innovative approach uses a combination of elements in the electrodes, including lithium, nickel, manganese, silicon, and oxygen, resulting in batteries that are 60% more energy-dense and more powerful, with a voltage of 4.4 volts.
   
• In Oct 2023 Photoionisation detection (PID) sensors play a crucial role in identifying potential issues in the production and use of lithium-ion (Li-ion) batteries, which power various devices like electric vehicles, e-bikes, mobile phones, and laptops.

Reasons to Acquire

• Increase your understanding of the market for identifying the most suitable strategies and decisions based on sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors.
   
• Gain authentic and granular data access for the Lithium-Ion Battery Market to understand the trends and the factors involved in changing market situations.
   
• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future.
   
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.

Report Scope