Automotive Lithium-ion Battery Cell Market Competitive Landscape 2024-2033 – Major Players and Strategies

Overview and Scope

An automobile lithium-ion (Li-ion) battery cell is a specialized battery technology that relies heavily on lithium ions in its electrochemistry. A lithium-ion battery comprises of numerous individual cells bundled together to provide the proper voltage, power, and energy, which are then stacked into various modules and then merged into the full battery pack.

Sizing and Forecast

The automotive lithium-ion battery cell market size has grown exponentially in recent years. It will grow from $80.36 billion in 2023 to $102.11 billion in 2024 at a compound annual growth rate (CAGR) of 27.1%. The growth in the historic period can be attributed to rise of electric vehicles, government incentives, emission reduction targets, increasing consumer acceptance, scaling up production, collaborations and partnerships.

The automotive lithium-ion battery cell market size is expected to see exponential growth in the next few years. It will grow to $253.45 billion in 2028 at a compound annual growth rate (CAGR) of 25.5%. The growth in the forecast period can be attributed to ev market expansion, energy storage applications, government regulations, reduced battery costs, r&d investments. Major trends in the forecast period include increasing energy density, advancements in solid-state batteries, growth in electric vehicle (ev) adoption, supply chain diversification, recycling and sustainability initiatives, integration of battery management systems (bms).

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Segmentation & Regional Insights

The automotive lithium-ion battery cell market covered in this report is segmented –

1) By Type: Lithium Iron Phosphate (LFP), Lithium Cobalt Oxide (LCO), Lithium Manganese Oxide (LMO), Lithium Nickel Manganese Cobalt Oxide (NMC)
2) By Cell Type: Cylindrical, Prismatic, Pouch Cells
3) By Application: Battery Electric Vehicle (BEV), Plug-In Hybrid Electric Vehicle (PHEV), Fuel-Cell Electric Vehicle

Asia-Pacific was the largest region in the automotive lithium-ion battery cell market in 2023. The regions covered in the automotive lithium-ion battery cell market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth

The rising electrification of vehicles across the globe is expected to propel the growth of the automotive lithium-ion battery cell market going forward. Vehicle electrification is the process of using electricity to power a vehicle, replacing components that use a conventional energy source with components that use electricity. Lithium-ion batteries are commonly used in vehicle electrification due to their high energy density and ability to provide high power output as they can store large amounts of energy in a relatively small and lightweight package, self-discharge at a lower rate than other battery types making them ideal for vehicle electrification. For Instance, according to September 2022 published, Global EV Outlook 2022 report, published by International Energy Agency, a France-based autonomous intergovernmental organization, global electric vehicle (EV) sales had doubled from the previous year in 2021, reaching a new high of 6.6 million units sales. Additionally, the sales of electric car vehicles worldwide in 2021 have reached 6600000 units from 2980000 units. Therefore, the rising electrification of vehicles across the globe will drive the automotive lithium-ion battery cell market.

Key Industry Players

Major companies operating in the automotive lithium-ion battery cell market are focused on developing lithium iron phosphate battery or LFP battery to strengthen their position in the market. Lithium Iron Phosphate (LFP) battery is a type of rechargeable lithium-ion battery known for its high energy density, longer lifespan, and enhanced safety due to the use of iron phosphate as the cathode material. For instance, in May 2022, Natural Battery Technologies, an India-based company, announced the launch of automotive safe batteries through Lithium Iron Phosphate (LFP) for automotive applications, including electric vehicles (EVs), scooters, and motorcycles. The advantage of using LFP batteries is that they are leak-proof and last up to five times longer than standard lead-acid batteries The launch of LFP batteries for automotive applications is expected to contribute to the growth of the electric vehicle market, as LFP batteries are considered safer and more cost-effective than other types of batteries.

The automotive lithium-ion battery cell market report table of contents includes:

1. Executive Summary

 

2. Automotive Lithium-ion Battery Cell Market Characteristics

3. Automotive Lithium-ion Battery Cell Market Trends And Strategies

4. Automotive Lithium-ion Battery Cell Market – Macro Economic Scenario

5. Global Automotive Lithium-ion Battery Cell Market Size and Growth
…

31. Global Automotive Lithium-ion Battery Cell Market Competitive Benchmarking

32. Global Automotive Lithium-ion Battery Cell Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Automotive Lithium-ion Battery Cell Market

34. Automotive Lithium-ion Battery Cell Market Future Outlook and Potential Analysis

 

35. Appendix

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