The market is expected to generate an incremental $ opportunity of US$ 74,600.0 Mn between 2022 and 2032
Category: Chemicals & Materials Published Date : October 2022 ID: CVC-00244 Format: PDF Pages: 350
Li-Ion Pouch Batteries Market Size Analysis
According to a research survey conducted by ChemView Consulting, in 2022, the Global Li-Ion Pouch Batteries Market was worth US$ 44,500.0 Mn and is expected to grow at a CAGR of 13.1% over the forecast period. The market is expected to hit US$ 1,52,400.0 Mn by 2032 end.
The lithium-ion batteries market is expanding due to the increased use of these batteries in plug-in automobiles in the field of renewable energy. In addition, improvements in lithium-ion batteries have raised the emphasis on R & D. Rising acceptance of lithium-ion batteries in various new applications due to price declines is also anticipated to fuel market expansion shortly.
INCREASING DEMAND FOR CLEAN FUEL IS PUSHING THE MARKET FOR LI-ION POUCH BATTERIES
Lithium-ion batteries power electric cars. Lithium-ion batteries have increased due to the growing use of electric and plug-in hybrid vehicles, which is predicted to continue. The market for these energy-efficient, pollution-reducing automobiles has grown due to customers’ increasing acceptance of electric cars. Additionally, more automakers are working on developing new, better electric vehicles.
SAFETY ISSUES RESTRICT THE MARKET EXPANSION
Li-ion batteries are increasingly being used in EVs and consumer gadgets. However, they are susceptible to degradation in hot environments, which can lower their performance. Heat-related operational issues are projected to continue as major obstacles for manufacturers, which might partially restrain market expansion.
In addition to being more expensive and dangerous to travel with than other batteries, lithium-ion batteries also require extra safety measures to prevent an explosion.
R&D ACTIVITIES CREATE OPPORTUNITIES FOR THE MARKET
Several firms do R&D to make lithium-ion batteries that are dependable and secure. To develop various battery chemistries, battery makers have significantly increased their R&D efforts as the globe transitions to sustainable energy.
The global economy has been impacted by COVID-19, which has led to a sharp fall in demand for goods and raw materials worldwide. China is the main producer and supplier of li-ion batteries and cells in the Asia Pacific. Major suppliers and manufacturers lowered their manufacturing capabilities due to government limitations. In 2020, the automobile industry’s demand also decreased.
Market Segments Covered in Report
By Rated Voltage:
By Region and Country:
Why are lithium iron phosphate Type Li-Ion Pouch Batteries projected to have a wider market?
Due to its excellent safety record, lithium iron phosphate (LiFePO4) currently accounts for more than 1/3 of the market. LiFePO4 batteries are more thermally stable than li-ion batteries created with other cathode materials and have exceptionally tough chemical properties, making them safer than those made with other cathode materials.
LiFePO4 batteries, which weigh less than half as much as conventional lead acid batteries, are used in most battery-powered off-road vehicles. They are very effective and allow for full battery utilization without affecting the battery’s capacity or longevity.
Which end-user segment is expected to create a profitable market for Li-Ion Pouch Batteries?
The most profitable end use is cell phones, which will account for approximately 23.0% of the demand for lithium-ion pouch batteries in 2020. The mobile phone industry and other accessories/end-use applications, such as portable electronic gadgets, drive the demand for these batteries.
The use of cell phones is growing daily as a result of urbanization and technological advancement. Nearly 55% to 60% of people worldwide use mobile phones and other portable electronics like iPods and MP3 players.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, the Middle East, and Africa.
The market is competitive, and major players are always developing new products. Several businesses are developing new products to increase their market share globally. For instance, BYD and Panasonic are in a great position because of their expanded production capabilities and extensive distribution networks.
Some of the key developments that have taken place in the Li-Ion Pouch Batteries Market include:
A list of some of the key suppliers present in the market are:
Global Li-Ion Pouch Batteries Market 2022-2032: Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2032|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Chemistry, Capacity, Thickness, Rated Voltage, End-User, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|