Use of Lithium Ion Cell and Battery Pack Promises High Performance and Prolonged Battery Life in Electronics

Lithium-ion batteries offer benefits such as longer lifespan and higher efficiency over their lead acid counterparts, which is a key reason why the market is gaining increased traction over the last few years. In response to the escalating demand for improved battery life and super performance in electronics, the global lithium ion cell and battery pack market is exhibiting strong growth. Handheld devices require high power density, a need that is effectively taken care of by lithium-ion batteries. Besides this, their use in RFID scanners and barcode is picking pace, which has paved way for the market’s growth in the coming years.

Q: What is the future of lithium ion cell and batteries in industrial sectors?

A: The use of lithium ion cell and batteries is increasingly gaining momentum in industrial application, automotive industry, and energy sectors. The paradigm shift toward sustainable and clean fuel across industries has therefore bode well for the global lithium ion cell and battery pack market. With significant advances on card, the use of lithium ion cells is expected to increase across the aforementioned sectors in the coming years. Besides this, the rising demand for wireless electronics and advancements in vehicles will bolster scope for market’s growth in the coming years.

On the downside, the high price at which lithium-ion batteries are available for is creating hindrances for the global. The lower thermal stability of lithium-ion batteries has made them unsustainable for long-term use in electric vehicles. Nevertheless, between 2017 and 2025, the market is expected to showcase an impressive CAGR of 12.0%. At this pace, the market’s valuation will reach US$88.92 bn by the end of 2025, from US$32.17 bn in 2016.

Q: How the competitive landscape in the global lithium ion cell and battery pack market is forecast to shape over the coming years?

A: While vendor landscape has remained highly fragmented, the dominance on the global lithium ion cell and battery pack market is held by six companies. These are Toshiba Corporation, Panasonic Corporation, BYD Co. Ltd., Samsung SDI Co. Ltd., LG Chem Power Inc., and GS Yuasa Corporation. Together these companies held nearly 45% of the overall market in 2016. Competition is rife in the market, as a result leading market players are investing on the research and development of energy-efficient and more cost-effective products.

For instance Tianjin Lishen Nattery Co. Ltd. has recently invested in the research of novel battery technology to upgrade its existing product profile. As per reports, the company plans to invest nearly US$0.22 bn over the next five years to boost its research and development initiatives. Besides this, several companies have undertaken merger and acquisition to keep pace with dynamic business environment. The acquisition of the battery pack department of Magna International, one of the leading manufacturers of automotive parts, by Samsung SDO Co. Ltd. can be a case in point in this regard.


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