NEW YORK, June 14, 2021 /PRNewswire/ -- Also termed as li-ion pouch cell battery packs, demand for li-ion pouch batteries is growing across various applications in automotive, medical, and consumer electronics industries. The automotive and consumer electronics industry has seen significant growth in the past few years, the same is expected in future. The global li-ion pouch battery market is estimated to expand at a CAGR of close to 10% over the forecast period of 2021-2031.
East Asia, Europe, and North America are major markets for the li-ion pouch batteries and hold high market shares. Being a consolidated market, manufacturers are highly focused on developing long-lasting and better energy storage batteries.
Key Takeaways from Market Study
- Strongest demand for lithium over the next few years is expected to come from li-ion batteries used in electric vehicles, including electronic bikes, as well as energy storage systems and consumer electronics.
- Li-ion battery chemistries have begun to scale, differentiate, and escalate with cell phones, laptops, and other consumer electronics. As the battery market continues to grow, the number of competitive use cases will also expand to other end uses.
- Leading players are looking to acquire new contracts through the development of new products, and the competition remains strong between them.
- Consumption of lithium ion pouch batteries, especially in Asia Pacific countries such as China, India, and South Korea, among others, is expected to grow at an above-average rate during the forecast period. Accordingly, in order to cater to increasing demand from a diverse set of industries, leading manufacturers are channelizing resources toward ramping up their existing production capacities.
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"Market players are expected to experience high demand from sectors such as EVs, consumer electronics, and storage systems," says a Persistence Market Research analyst.
Competitive Landscape
The global li-ion ion pouch battery market has been identified as a significantly consolidated market space, with prominent shares being occupied by major companies in the market.
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Some of the leading players included in the report, such as Panasonic Industrial Corporation, Toshiba Corporation, Gee Power, FDK Corporation, SK Innovation Co., Ltd., Bestgo B Vertical Partners West LLC, EPEC,LLC, Enertech International, Inc, A123 Systems LLC, FluxPower Battery Co., Ltd., SOLAREDGE e-MOBILITY SpA, CUSTOM CELLS ITZEHOE GMBH, Fruedenberg Group, Leclanché SA, Echion Technologies, YOK Energy, Servovision Co. Ltd., DNK Power Company Limited, Amperex Technology Limited, Shenzhen Ace Battery Co. Ltd., Energy Innovation Group Ltd., EVE Energy Co. Ltd., and other local and regional players across the globe, are anticipated to create a tough competitive environment at the global level.
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Conclusion
The global lithium ion pouch battery market is anticipated to rise substantially owing to the increment in chemical industries. Increasing use of li-ion pouch batteries is being seen in applications such as paints, coatings, inks, drilling fluids, industrial cleaning, etc.
Sales of li-ion pouch batteries are estimated to rise substantially over the forecast period, owing to increasing demand from semiconductor industries.
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