No.2493
08/26/2020

Global Automotive Lithium-ion Battery Market: Key Research Findings 2020

Yano Research Institute (the President, Takashi Mizukoshi) carried out a survey on the automotive lithium ion batteries market and found out the trends by product segment, the trend of market players, and the future outlook. This press release discloses the transition and forecast of global automotive lithium ion batteries market.


Market Overview and Forecast

The estimated global automotive LiB (lithium ion batteries) market size for 2019, based on capacity, was estimated as 133.1GWh, 117.6% of that of the previous year. When observing the shipment capacity by xEV type, LiB for HEVs (hybrid EVs) expanded to 1.9GWh (185.7% on Y-o-Y), for PHEVs (plug-in electric vehicles) attained 9.3GWh (97.1% on Y-o-Y), and LiB for EVs (electric vehicles) grew to 121.8GWh (118.8% on Y-o-Y), indicating LiB for EVs occupying 90% of the whole automotive LiB market.

Although steadfast growth was observed in production of HEVs chiefly in Europe and prominent increase in mid-size-capacity EVs driven by Tesla’s Model 3, PHEVs and low-capacity EVs failed to reach the preceding-year results. In particular, demand in China became sluggish due to changes in the subsidies conditions. The global automotive LiB market had been stably on the rise, but it began slowing down due to decreased subsidies in China which had been the driving force of the market.

The growth forecasts were carried out from the two different viewpoints, i.e. governmental policies and market environment, taking account of industry-wise contraction of the global automobile market due to COVID-19 pandemics, and of the economic measures taken by each country at this point.

The government-policy based forecast foresees that xEV market especially in Europe maintains the growth in 2020, against the backdrop of global enhancement in environmental regulations, EV promotion policies by each country, and business shift to EVs at automobile manufacturers (OEMs). The global automotive LiB market size from the government-policy viewpoint based on the capacity is forecasted as 1,720.8GWh by 2030, 195.3% of the size in 2025.

On the other hand, the forecast from the market-environment viewpoint foresees the xEV market to decline from the previous year, as it views the market from the consumer standpoints (such as user-friendliness and affordability) which will be affected by economic downturn caused by COVID-19 pandemics. The global automotive LiB market size from the market-environment viewpoint based on the capacity is forecasted as 496GWh by 2030, 172.0% of the size in 2025. Of the market size in 2030, LiB for HEVs is expected to be 7.3GWh (171.1% of 2025, market share 1.5%), LiB for PHEVs 45.4GWh (166.0% of 2025, market share 9.2%), and that for EVs 443.2GWh (172.7% of 2025, market share 89.4%).

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