Research Reports
Sales of Li-Ion Battery Pack Market to Reach US$ 75.3 Bn Billion Revenues by 2031
Published by Wanda Rich
Posted on October 1, 2021
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The global Li-Ion battery pack market was valued at US$ 57.4 billion in 2020 and is expected to add value worth US$ 3.3 billion during the forecast period. The market is anticipated to expand at a CAGR of 2.7%. However, amid the COVID-19 pandemic, the market is poised to stagnate for the next couple of financial quarters. This is attributed to a significant drop in the demand for Li-ion battery packs globally. The adoption is expected to remain low as stringent lockdowns amid COVID-19 has created exceptional dormancy in end use industries such as consumer electronics, and automotive industry.
For detailed insights on enhancing your product footprint, request for a sample here – https://www.factmr.com/connectus/sample?flag=S&rep_id=3120
In addition, impact of COVID-19 on the mining industry has lowered the production of lithium. Consequently, companies in East Asia which have resumed operations post-lockdown are experiencing insufficient raw material supply, compelling companies to work at a significantly lower capacity. This in turn, is poised to disturb the business eco – system in the global li ion battery pack market. However, the market is projected to create significant opportunity in the second half of the forecast period, when impact of COVID-19 pandemic will be brought under control globally.
Key Takeaways of Li Ion Battery Pack Market
- Global Li-ion battery pack market is expected to grow at a volume CAGR of 2.6%, expanding 1.3X in terms of value from 2020 through 2030.
- Lithium cobalt oxide battery type will hold the maximum share in terms of value, at US$ 64.4 billion by the end of forecast period (2020 – 2030).
For critical insights on this market, request for methodology here – https://www.factmr.com/connectus/sample?flag=RM&rep_id=3120
- Pouch cells are set to grow at a value CAGR of 4.7% and are expected to gain 271 BPS on their market share by the end of forecast period.
- Nominal voltage less than 12V is expected to account for majority share in terms of value. It is projected to create absolute $ opportunity of more than US$ 8.9 billion during the forecast period.
- Batteries with capacity less than 20KWhr & 30-60KWhr are projected to grow at a value CAGR of 3.2% & 2.4% respectively and will collectively create absolute $ opportunity of more than US$ 14.6 billion by the end of the forecast period.
- Automotive end use sector is anticipated to hold more than 89% share, creating an absolute $ opportunity of more than US$ 15.2 billion during forecast period.
- APEJ is prophesied to hold maximum share in terms of value and will expand at CAGR of 3% by the end of the forecast period.
“The global outbreak of COVID-19 will hamper the expansion of li-ion battery pack market for next couple of financial quarters. As the key end use businesses start operating on maximum capacity, the market will regain traction through 2030,” says a Fact.MR analyst.
Key Segments of the Li-ion Battery Pack Market
Fact.MR’s study on the Li-ion battery pack market offers information divided into two key segments— product type, cell type, nominal voltage, battery capacity, end use across six major regions. This report offers comprehensive data and information about important market dynamics and growth parameters associated with these categories.
| Product Type | Cell Type | Nominal Voltage | Battery Capacity | End Use | Regions |
|
|
|
|
|
|
For in-depth competitive analysis, buy now – https://www.factmr.com/checkout/3120
Partnerships to Re-ignite Competition in Market Landscape
The lithium ion battery pack market is highly consolidated with few players serving the majority of the customer base. Manufacturers are forming partnerships with other players in order to introduce innovative solutions in the industry. For instance, In February 2020, Honeywell International Inc. partnered with Nexceris, LLC, to develop li-ion battery packs with enhanced safety systems. In September 2019, Eramet Group, BASF-LAWSUIT-95e84a04-e252-4d6e-a752-385822505523>BASF & SUEZ formed a partnership to develop recycling li-ion battery packs for electric vehicles.
Read More Trending and Similar Reports from Fact.MR – https://www.globenewswire.com/en/news-release/2019/04/29/1811106/0/en/Aircraft-Pumps-Market-Development-of-New-Airports-across-APEJ-Set-to-Bolster-Future-Demand-Reports-Fact-MR-study.html
Explore Fact.MR’s Comprehensive Coverage on Industrial Goods Landscape
Modern Day Refrigerant Recovery Machines to Dominate the Global Sales in Market for Refrigerant Recovery Machines during 2021-2031- https://www.factmr.com/report/3833/refrigerant-recovery-machine-market
Marine Transport Refrigeration Unit Market Insights on Assessment of Sales Opportunity by Product Type, Vessel Type and End-Use- https://www.factmr.com/report/4160/marine-transport-refrigeration-unit-market
Cold Trap Market Analysis on Assessment of Sales Opportunity Based on Functionality, Gas and End-Use Industry during 2021-2031- https://www.factmr.com/report/4228/cold-trap-market
About Us:
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.
Contact:
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
Corporate Headquarter:
Unit No: AU-01-H Gold Tower (AU),
Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers,
Dubai, United Arab Emirates
Email: sales@factmr.com
Visit Our Website: https://www.factmr.com
The post Sales of Li-Ion Battery Pack Market to Reach US$ 75.3 Bn Billion Revenues by 2031 appeared first on The Cloud Tribune.
The global Li-Ion battery pack market was valued at US$ 57.4 billion in 2020 and is expected to add value worth US$ 3.3 billion during the forecast period. The market is anticipated to expand at a CAGR of 2.7%. However, amid the COVID-19 pandemic, the market is poised to stagnate for the next couple of financial quarters. This is attributed to a significant drop in the demand for Li-ion battery packs globally. The adoption is expected to remain low as stringent lockdowns amid COVID-19 has created exceptional dormancy in end use industries such as consumer electronics, and automotive industry.
For detailed insights on enhancing your product footprint, request for a sample here – https://www.factmr.com/connectus/sample?flag=S&rep_id=3120
In addition, impact of COVID-19 on the mining industry has lowered the production of lithium. Consequently, companies in East Asia which have resumed operations post-lockdown are experiencing insufficient raw material supply, compelling companies to work at a significantly lower capacity. This in turn, is poised to disturb the business eco – system in the global li ion battery pack market. However, the market is projected to create significant opportunity in the second half of the forecast period, when impact of COVID-19 pandemic will be brought under control globally.
Key Takeaways of Li Ion Battery Pack Market
- Global Li-ion battery pack market is expected to grow at a volume CAGR of 2.6%, expanding 1.3X in terms of value from 2020 through 2030.
- Lithium cobalt oxide battery type will hold the maximum share in terms of value, at US$ 64.4 billion by the end of forecast period (2020 – 2030).
For critical insights on this market, request for methodology here – https://www.factmr.com/connectus/sample?flag=RM&rep_id=3120
- Pouch cells are set to grow at a value CAGR of 4.7% and are expected to gain 271 BPS on their market share by the end of forecast period.
- Nominal voltage less than 12V is expected to account for majority share in terms of value. It is projected to create absolute $ opportunity of more than US$ 8.9 billion during the forecast period.
- Batteries with capacity less than 20KWhr & 30-60KWhr are projected to grow at a value CAGR of 3.2% & 2.4% respectively and will collectively create absolute $ opportunity of more than US$ 14.6 billion by the end of the forecast period.
- Automotive end use sector is anticipated to hold more than 89% share, creating an absolute $ opportunity of more than US$ 15.2 billion during forecast period.
- APEJ is prophesied to hold maximum share in terms of value and will expand at CAGR of 3% by the end of the forecast period.
“The global outbreak of COVID-19 will hamper the expansion of li-ion battery pack market for next couple of financial quarters. As the key end use businesses start operating on maximum capacity, the market will regain traction through 2030,” says a Fact.MR analyst.
Key Segments of the Li-ion Battery Pack Market
Fact.MR’s study on the Li-ion battery pack market offers information divided into two key segments— product type, cell type, nominal voltage, battery capacity, end use across six major regions. This report offers comprehensive data and information about important market dynamics and growth parameters associated with these categories.
| Product Type | Cell Type | Nominal Voltage | Battery Capacity | End Use | Regions |
|
|
|
|
|
|
For in-depth competitive analysis, buy now – https://www.factmr.com/checkout/3120
Partnerships to Re-ignite Competition in Market Landscape
The lithium ion battery pack market is highly consolidated with few players serving the majority of the customer base. Manufacturers are forming partnerships with other players in order to introduce innovative solutions in the industry. For instance, In February 2020, Honeywell International Inc. partnered with Nexceris, LLC, to develop li-ion battery packs with enhanced safety systems. In September 2019, Eramet Group, BASF-LAWSUIT-95e84a04-e252-4d6e-a752-385822505523>BASF & SUEZ formed a partnership to develop recycling li-ion battery packs for electric vehicles.
Read More Trending and Similar Reports from Fact.MR – https://www.globenewswire.com/en/news-release/2019/04/29/1811106/0/en/Aircraft-Pumps-Market-Development-of-New-Airports-across-APEJ-Set-to-Bolster-Future-Demand-Reports-Fact-MR-study.html
Explore Fact.MR’s Comprehensive Coverage on Industrial Goods Landscape
Modern Day Refrigerant Recovery Machines to Dominate the Global Sales in Market for Refrigerant Recovery Machines during 2021-2031- https://www.factmr.com/report/3833/refrigerant-recovery-machine-market
Marine Transport Refrigeration Unit Market Insights on Assessment of Sales Opportunity by Product Type, Vessel Type and End-Use- https://www.factmr.com/report/4160/marine-transport-refrigeration-unit-market
Cold Trap Market Analysis on Assessment of Sales Opportunity Based on Functionality, Gas and End-Use Industry during 2021-2031- https://www.factmr.com/report/4228/cold-trap-market
About Us:
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.
Contact:
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
Corporate Headquarter:
Unit No: AU-01-H Gold Tower (AU),
Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers,
Dubai, United Arab Emirates
Email: sales@factmr.com
Visit Our Website: https://www.factmr.com
The post Sales of Li-Ion Battery Pack Market to Reach US$ 75.3 Bn Billion Revenues by 2031 appeared first on The Cloud Tribune.