COVID-19 Impact: Lithium-Ion Battery Market Will Accelerate at a CAGR of Over 16% Through 2020-2024 | Increased Shipment of Smart Wearables to Boost Growth | Technavio
LONDON--(BUSINESS WIRE)--Aug 3, 2020--
Technavio has been monitoring the lithium-ion battery market and it is poised to grow by USD 47.81 billion during 2020-2024, progressing at a CAGR of over 16% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Technavio has announced its latest market research report titled Global Lithium-Ion Battery Market 2020-2024 (Graphic: Business Wire)
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19.Please request Free Sample Report on COVID-19 Impact
Frequently Asked Questions-
- What was the value of the lithium-ion battery market in 2019?
- Technavio says that the value of market was at USD 41.94 billion in 2019 and is projected to reach USD 89.75 billion by 2024.
- At what CAGR is the market projected to grow during the forecast period 2020-2024?
- Growing at a CAGR of over 16%, the market growth will accelerate during the forecast period of 2020-2024.
- What is the key factor driving the market?
- Increased shipment of smart wearables is one of the key factors driving the market growth.
- Who are the top players in the market?
- A123 Systems LLC, Amperex Technology Ltd., BYD Co. Ltd., Dalian CBAK Power Battery Co. Ltd., Envision Energy USA Ltd., Hitachi Ltd., LG Chem Ltd., Panasonic Corp., Samsung SDI Co. Ltd., and Toshiba International Corp. are some of the major market participants.
- Which region is expected to hold the highest market share in the market?
- What is the major trend of the market?
- Decline in lithium-ion battery price is a major growth factor for the market.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. A123 Systems LLC, Amperex Technology Ltd., BYD Co. Ltd., Dalian CBAK Power Battery Co. Ltd., Envision Energy USA Ltd., Hitachi Ltd., LG Chem Ltd., Panasonic Corp., Samsung SDI Co. Ltd., and Toshiba International Corp. are some of the major market participants. The increased shipments of smart wearables will offer immense growth opportunities. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
Increased shipments of smart wearables have been instrumental in driving the growth of the market.
Lithium-Ion Battery Market 2020-2024: Segmentation
Lithium-Ion Battery Market is segmented as below:
- Consumer Electronics
- Geographic Landscape
- North America
- South America
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Lithium-Ion Battery Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our lithium-ion battery market report covers the following areas:
- Lithium-Ion Battery Market size
- Lithium-Ion Battery Market trends
- Lithium-Ion Battery Market analysis
This study identifies decline in lithium-ion battery price as one of the prime reasons driving the lithium-ion battery market growth during the next few years.
Lithium-Ion Battery Market 2020-2024: Vendor Analysis
We provide a detailed analysis of vendors operating in the lithium-ion battery market, including some of the vendors such as A123 Systems LLC, Amperex Technology Ltd., BYD Co. Ltd., Dalian CBAK Power Battery Co. Ltd., Envision Energy USA Ltd., Hitachi Ltd., LG Chem Ltd., Panasonic Corp., Samsung SDI Co. Ltd., and Toshiba International Corp. Backed with competitive intelligence and benchmarking, our research reports on the lithium-ion battery market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.
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Lithium-Ion Battery Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist lithium-ion battery market growth during the next five years
- Estimation of the lithium-ion battery market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the lithium-ion battery market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of lithium-ion battery market vendors
Table of Contents:
- Market Overview
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Application
- Market segments
- Comparison by Application placement
- Consumer Electronics - Market size and forecast 2019-2024
- Utilities - Market size and forecast 2019-2024
- Automotive - Market size and forecast 2019-2024
- Others - Market size and forecast 2019-2024
- Market opportunity by Application
Market Segmentation by Type
- Market segments
- Comparison by Type placement
- Secondary - Market size and forecast 2019-2024
- Primary - Market size and forecast 2019-2024
- Market opportunity by Type
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Drivers, Challenges, and Trends
- Market drivers
- Volume driver - Demand led growth
- Volume driver - Supply led growth
- Volume driver - External factors
- Volume driver - Demand shift in adjacent markets
- Price driver - Inflation
- Price driver - Shift from lower to higher-priced units
- Market challenges
- Market trends
- Landscape disruption
- Vendor Analysis
- Market positioning of vendors
- A123 Systems LLC
- Amperex Technology Ltd.
- BYD Co. Ltd.
- Dalian CBAK Power Battery Co. Ltd.
- Envision Energy USA Ltd.
- Hitachi Ltd.
- LG Chem Ltd.
- Panasonic Corp.
- Samsung SDI Co. Ltd.
- Toshiba International Corp.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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PUB: 08/03/2020 06:00 PM/DISC: 08/03/2020 06:00 PM