The global lithium-ion battery market will exceed $100 billion by 2025

Adroit Market Research, an international market research institution, recently released a report that "the global lithium-ion battery market is expected to grow
at a compound annual growth rate of 14.
3% during the forecast period 2018-2025.
" ”

Driven by the growing demand for electric vehicles, consumer electronics, and energy storage solutions, the global lithium-ion battery market is estimated to exceed $100 billion
by 2025.
Ease of availability, high energy density, low discharge rate, and long life cycle are some of the key features that make lithium-ion batteries superior to similar products and are expected to boost the global market revenue
.

At the same time, increasing investments in energy-saving technologies such as renewable energy are among the
key factors driving the growth of the market.
In the Netherlands, for example, the Energy Investment Subsidy (EIA) program encourages investors by providing benefits such as tax breaks on the amount invested
.

According to the International Renewable Energy Agency (IRENA), battery storage in stationary applications is expected to grow at least 17-fold
by 2030.
Increasing stationary energy storage applications as well as stimulating demand for electric vehicles (EVs), especially in developing countries such as China, are expected to provide the main power
for lithium-ion battery devices in the coming years.

In 2017, consumer electronics accounted for more than
40% of the global lithium-ion battery revenue market share.
According to a recent survey, global consumer electronics user penetration was 26.
4% in 2018 and is expected to grow to 34.
1%
by 2022.
The consumer electronics market is constantly evolving
due to continuous technological advancements among players across the globe.

In addition, manufacturers are constantly inventing and introducing innovations in these categories to increase sales and increase profit margins
.
This has led to a growing increase in sales of established products such as LCDs, TVs, and laptops for digital consumers, thus becoming a key factor
driving the growth of the consumer electronics segment.

From the perspective of battery type, lithium-cobalt oxide battery sales dominated the global market in 2017, accounting for 34.
4%
of the overall market revenue.
Lithium-ion batteries are widely used in automotive, consumer electronics, grid energy storage, and other fields, including aerospace, medical, defense, and marine industries
.
Lithium-ion battery consumption in consumer electronics exceeded $15.
5 billion in 2017, thus dominating the global market
.

Growing interest in consumer electronics such as smartphones, laptops, and digital cameras due to government support to raise awareness of the benefits of digitalization and policy support to improve lifestyles, especially in developing regions, are among the key factors stimulating the growth of
lithium batteries worldwide.

In addition, the emergence of the Internet of Things (IoT) has led to breakthrough innovations
in wearable electronic devices such as fitness bands and smart watches.
Changing consumer preferences and shift towards smart wearables complement the demand for lithium-ion batteries during the
forecast period.
Coupled with growing concerns about carbon emissions and deteriorating environmental standards, governments around the world are being forced to take necessary action
.
This has led to increased government subsidies, coupled with innovative tax policies
in both developed and developing countries.

The increasing number of solar PV installations in the United States, China, and Germany will surge overall product installations and surge overall market revenue
.
For example, in August 2016, Samsung SDI announced plans to build a lithium-ion battery factory
in Hungary.
It aims to produce batteries
for 50,000 pure electric vehicles.
This will help the company have a competitive advantage
over other players in the automotive battery industry.

Regionally, in 2017, the Asia-Pacific region was the largest market for lithium-ion batteries, accounting for about 48%
of the global industry.
The growing popularity of electric vehicles and grid energy storage, driven by falling prices and supportive government policies, is one of
the factors for the growth.
Despite currently leading the global market, the Asia-Pacific region is likely to grow at a CAGR of more than 15%
over the next seven years due to the untapped potential and high penetration of lithium-ion batteries over the next seven years.