DUBLIN--(BUSINESS WIRE)--The "Global Advanced Lithium-Ion Batteries Market, By Component, By End User, By Material - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2027" report has been added to ResearchAndMarkets.com's offering.
Global Advanced Lithium-Ion Batteries Market
The Global Advanced Lithium-Ion Batteries market was valued at US$ 71,320.00 Mn in 2021, and is estimated to reach US$ 137,380.00 Mn in 2027, with a CAGR of 8.41% from 2022-2027.
Advanced lithium-ion batteries are defined as modern batteries with an extended lifespan designed for portable battery stations, electric vehicles, and electronic devices. Cost, safety, performance, and cycle life are parameters used for assessing the performance of batteries.
As advanced lithium-ion batteries are increasingly used in high power applications, the safety & reliability of these cells and batteries are of utmost importance. The most important parameters in advanced lithium-ion batteries in utility storage & transportation are cost, performance, cycle life, and safety to increase the credibility of these batteries to fulfill the growing demand.
Market Drivers
The rising use of electric devices is the primary driver of the advanced lithium-ion battery industry. Furthermore, the expanding energy storage industry is expected to increase the use of sophisticated lithium-ion batteries in a variety of industries. Furthermore, the increased production of wearable electronics, implanted medical devices, and flexible electronics is likely to boost the expansion of the advanced lithium-ion battery market.
Similarly, modern lithium-ion batteries offer a significantly better energy storage density that demands a smaller size, opening up new applications for these batteries in a variety of industries. These reasons will very certainly increase demand for improved lithium-ion batteries. Higher energy storage density, on the other hand, may raise the risk of battery fire.
Market Restraints
Hazardous compounds found in used batteries include acids and heavy metals like mercury and lead. More than 132,000 liters of chemicals were burned in a fire incident brought on by lithium-based batteries in July 2007, which forced the closure of two significant roads in the UK.
Spent batteries must be stored away from other flammable and combustible materials in watertight containers. A Class D extinguisher and sand should also be kept nearby as a safety precaution in case of a fire. There is a risk of unintended discharge with expended batteries since they retain some charge, which could injure people and property.
Key Developments
In Oct 2021, Battrixx introduced its 4 kWh Dual Power smart batteries for electric vehicles. According to the company, the smart battery packs are extremely dependable, secure, and tough for driving conditions in India.
In July 2022, the development of a service to diagnose the degradation state remotely for on-board automobile lithium-ion batteries was disclosed by Hitachi High-Tech Corporation. For the deployment of electric vehicles, achieving steady and efficient battery operation is becoming increasingly crucial ("EVs"). By resolving customer difficulties, Hitachi High-Tech will begin to offer this service to clients on a global scale via various networks.
Market Taxonomy
By Component
- Separators
- Current Collectors
- Binders
- Solvents
- Solid State Electrolytes
By End User
- Consumer Electronics
- Smartphones
- Uninterruptible Power Supply (UPS) Systems
- Laptops
- Others (Games, Gardening Tools, and Drilling)
- Automotive
- Battery Electric Vehicle (BEV)
- Plug-in Hybrid Electric vehicle (PHEV)
- Hybrid Electric Vehicle (HEV)
- Aerospace and Defense
- Medical
- Telecom
- Industrial
By Material
- Cathode Material
- Anode Material
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Global Advanced Lithium-Ion Batteries Market Outlook
5 Global Advanced Lithium-Ion Batteries Market, By Component
6 Global Advanced Lithium-Ion Batteries Market, By End User
7 Global Advanced Lithium-Ion Batteries Market, By Material
8 Global Advanced Lithium-Ion Batteries Market, By Region
9 North America Advanced Lithium-Ion Batteries Market Analysis and Forecast (2022-2027)
10 Europe Advanced Lithium-Ion Batteries Market Analysis and Forecast (2022-2027)
11 Asia Pacific Advanced Lithium-Ion Batteries Market Analysis and Forecast (2022-2027)
12 Latin America Advanced Lithium-Ion Batteries Market Analysis and Forecast (2022-2027)
13 Middle East Advanced Lithium-Ion Batteries Market Analysis and Forecast (2022-2027)
14 Competitive Analysis
15 Company Profiles
Companies Mentioned
- LG Chem Limited
- Panasonic Corporation
- Samsung SDI Corporation Limited
- Toshiba Corporation
- Amperex Technology Limited (ATL)
- BAK Group
- Blue Energy Co. Ltd.
- BYD Company Limited
- CBAK Energy Technology Inc.
- Tianjin Lishen Battery Joint-Stock Corporation Limited
- Lithion Battery (Valence Technology Inc.)
- SK Innovation Corporation Limited
- Hitachi Limited
- Battrix
For more information about this report visit https://www.researchandmarkets.com/r/i6ickc
