Lithium Polymer Battery Market
PUBLISHED: 2024 ID: SMRC27392
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Lithium Polymer Battery Market

Lithium Polymer Battery Market Forecasts to 2030 - Global Analysis by Type (Cylindrical, Prismatic, Pouch and Other Types), Capacity, Voltage Range, Industry Vertical, Application and By Geography

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Published: 2024 ID: SMRC27392

This report covers the impact of COVID-19 on this global market
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According to Stratistics MRC, the Global Lithium Polymer Battery Market is accounted for $66.0 billion in 2024 and is expected to reach $162.4 billion by 2030 growing at a CAGR of 16.2% during the forecast period. A Lithium Polymer Battery (LiPo) is a type of rechargeable battery that utilizes a polymer electrolyte instead of a liquid electrolyte found in traditional lithium-ion batteries. LiPo batteries are known for their high energy density, making them suitable for powering portable electronic devices, remote-controlled vehicles, and electric vehicles. However, they offer advantages such as faster charging times, lower self-discharge rates, and enhanced safety features. 

Market Dynamics: 

Driver: 

Increased demand for portable electronics

Increased demand for portable electronics like lithium polymer (LiPo) batteries offer a high energy density, flexible shapes, and enhanced safety features, making them ideal for smart phones, tablets, laptops, and wearables. As consumer electronics become more advanced and require longer battery life, manufacturers increasingly adopt LiPo batteries to meet these needs. The growth of the portable electronics market, fuelled by trends like 5G, smart devices, and IoT, directly boosts the demand for efficient and adaptable lithium polymer batteries, accelerating market expansion.

Restraint:

Limited recycling infrastructure

Limited recycling infrastructure, disposing of used batteries becomes challenging, leading to potential pollution and regulatory hurdles. The scarcity of recycling facilities also limits the recovery of valuable materials like lithium, cobalt, and nickel, driving up the cost of raw materials and increasing the overall cost of battery production. Additionally, inadequate recycling options discourage consumers and industries from adopting lithium polymer batteries due to concerns over end-of-life disposal, thereby slowing market growth and sustainability efforts.
Opportunity:

Expanding renewable energy sector

The expanding renewable energy sector such as solar and wind energy sources are intermittent, reliable batteries are essential to store excess energy and ensure consistent power supply. Lithium polymer batteries, known for their high energy density, lightweight design, and longer lifespan, are ideal for integrating with renewable energy systems. They support grid stabilization, improve energy efficiency, and facilitate the shift toward cleaner energy solutions. As global investment in renewable energy grows, the demand for lithium polymer batteries is expected to rise, driving market growth.

Threat:

Supply chain vulnerabilities

Supply chain vulnerabilities such as lithium, cobalt, and nickel, which are essential for battery production. Geopolitical tensions, trade restrictions, and limited mining capacities can lead to supply shortages, increasing costs and delaying manufacturing. Additionally, transportation challenges and the lack of localized production facilities exacerbate these issues. These disruptions can slow down innovation, reduce profit margins, and delay product launches, ultimately impacting the growth of industries reliant on lithium polymer batteries and renewable energy storage.

Covid-19 Impact

The COVID-19 pandemic significantly impacted the lithium polymer battery market, causing both challenges and opportunities. Supply chain disruptions led to delays in production and a shortage of raw materials, affecting the availability of batteries for consumer electronics and electric vehicles. However, the pandemic accelerated the shift towards remote work and digital solutions, increasing demand for portable devices and renewable energy systems. Additionally, government initiatives promoted electric vehicles as part of economic recovery plans boosted interest in lithium polymer batteries. Overall, while the pandemic posed obstacles, it also highlighted the importance of resilient and sustainable energy storage solutions.

The cylindrical segment is expected to be the largest during the forecast period

Over the estimation period, the cylindrical segment is likely to capture the largest market share, due to their superior energy density and efficiency. These battery designs facilitate better heat dissipation and structural integrity, making them ideal for high-performance applications such as drones, electric vehicles, and portable electronics. Their compact form factor allows for flexible design in various devices, enhancing usability and performance. Additionally, advancements in manufacturing technologies are lowering production costs, further driving adoption and boosting market growth. 

The industrial segment is expected to have the highest CAGR during the forecast period

The industrial segment is expected to register lucrative growth during the estimation period, due to the growing demand for energy-efficient and lightweight power sources. Industries such as automotive and consumer electronics are increasingly adopting lithium polymer batteries for their high energy density and improved safety features. Additionally, the shift toward electric vehicles and renewable energy storage solutions drives further innovation and investment in battery technologies. As industries prioritize sustainability and energy efficiency, the adoption of lithium polymer batteries is expected to accelerate, boosting market growth and driving advancements and applications.

Region with largest share:

During the projected timeframe, the Asia Pacific region is expected to hold the largest market share due to increased demand for lightweight and flexible energy storage solutions. However, the key factors driving this market include the rising adoption of EVs, advancements in battery technology, and a growing emphasis on sustainable energy sources. Countries like China, Japan and South Korea are leading in production, supported by significant investments in research. Furthermore, government initiatives promoting electric mobility, enhancing market prospects, making Asia Pacific a pivotal region for lithium polymer battery advancements.

Region with highest CAGR:

Over the forecasted timeframe, the North America region is anticipated to exhibit the highest CAGR, owing to the increasing demand for high-performance energy storage solutions. The region's strong technological advancements and investments in research and development are driving innovation in battery design and efficiency. Additionally, rising environmental concerns and government initiatives promoting electric mobility are further fuelling market expansion. Major players are focusing on enhancing energy density and safety features, making lithium polymer batteries a preferred choice for various applications, thus solidifying their market presence in North America.

Key players in the market

Some of the key players profiled in the Lithium Polymer Battery Market include A123 Systems LLC, ATL (Amperex Technology Limited), BYD Company Ltd., Contemporary Amperex Technology Co. Ltd. (CATL), EnerDel, Inc., EVE Energy Co., Ltd., GS Yuasa Corporation, Hitachi Chemical Co., Ltd., LG Chem Ltd., Lishen Battery, Lithium Werks B.V., Murata Manufacturing Co., Ltd., Panasonic Corporation, Saft Groupe S.A., Samsung SDI Co., Ltd., Sony Corporation, Tenergy Corporation, Toshiba Corporation, Ultralife Corporation and Varta AG.

Key Developments:

In September 2024, Panasonic connected projection technology to illuminate BLINK® Cincinnati; this collaboration underscores Panasonic Connect’s dedication to artistic endeavors that push the boundaries of traditional art forms.

In June 2024, Panasonic expanded AV Solution Suite at InfoComm to power innovative and engaging visual experiences across industries. This helped customers worry less about the technology setup, and more about how they can take their creativity and audience experience to the next level.

In May 2024, Panasonic launched new LUMIX S9 compact full-frame mirrorless camera. With this Panasonic aims to bring a new enjoyable shooting experience for creators, making the journey from capturing moments to sharing them with the world. 

Types Covered:
• Cylindrical
• Prismatic
• Pouch
• Other Types                    

Capacities Covered:
• 1 – 3000 mAh
• 3000 – 10,000 mAh
• 10,000 – 60,000 mAh
• Above 60,000 mAh

Voltage Ranges Covered:
• Below 3.7V
• 3.7V – 7.4V
• Above 7.4V

Industry Verticals Covered:
• Automotive
• Healthcare
• Industrial
• Consumer Electronics
• Aerospace & Defense
• Renewable Energy
• Other Industry Verticals

Applications Covered:
• Electric Vehicles
• Aerospace & Defense
• Medical Devices
• Power Tools
• Energy Storage Systems
• Other Applications

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings: 
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary         
           
2 Preface          
 2.1 Abstract         
 2.2 Stake Holders        
 2.3 Research Scope        
 2.4 Research Methodology       
  2.4.1 Data Mining       
  2.4.2 Data Analysis       
  2.4.3 Data Validation       
  2.4.4 Research Approach       
 2.5 Research Sources        
  2.5.1 Primary Research Sources      
  2.5.2 Secondary Research Sources      
  2.5.3 Assumptions       
           
3 Market Trend Analysis        
 3.1 Introduction        
 3.2 Drivers         
 3.3 Restraints        
 3.4 Opportunities        
 3.5 Threats         
 3.6 Application Analysis       
 3.7 Emerging Markets        
 3.8 Impact of Covid-19        
           
4 Porters Five Force Analysis        
 4.1 Bargaining power of suppliers       
 4.2 Bargaining power of buyers       
 4.3 Threat of substitutes       
 4.4 Threat of new entrants       
 4.5 Competitive rivalry        
           
5 Global Lithium Polymer Battery Market, By Type      
 5.1 Introduction        
 5.2 Cylindrical        
 5.3 Prismatic         
 5.4 Pouch         
 5.5 Other Types        
           
6 Global Lithium Polymer Battery Market, By Capacity     
 6.1 Introduction        
 6.2 1 – 3000 mAh        
 6.3 3000 – 10,000 mAh        
 6.4 10,000 – 60,000 mAh        
 6.5 Above 60,000 mAh        
           
7 Global Lithium Polymer Battery Market, By Voltage Range     
 7.1 Introduction        
 7.2 Below 3.7V        
 7.3 3.7V – 7.4V        
 7.4 Above 7.4V        
           
8 Global Lithium Polymer Battery Market, By Industry Vertical     
 8.1 Introduction        
 8.2 Automotive        
 8.3 Healthcare        
 8.4 Industrial         
 8.5 Consumer Electronics       
 8.6 Renewable Energy        
 8.7 Other Industry Verticals       
           
9 Global Lithium Polymer Battery Market, By Application     
 9.1 Introduction        
 9.3 Electric Vehicles        
 9.4 Aerospace & Defense       
 9.5 Medical Devices        
 9.6 Power Tools        
 9.7 Energy Storage Systems       
 9.8 Other Applications        
           
10 Global Lithium Polymer Battery Market, By Geography     
 10.1 Introduction        
 10.2 North America        
  10.2.1 US        
  10.2.2 Canada        
  10.2.3 Mexico        
 10.3 Europe         
  10.3.1 Germany        
  10.3.2 UK        
  10.3.3 Italy        
  10.3.4 France        
  10.3.5 Spain        
  10.3.6 Rest of Europe       
 10.4 Asia Pacific        
  10.4.1 Japan        
  10.4.2 China        
  10.4.3 India        
  10.4.4 Australia        
  10.4.5 New Zealand       
  10.4.6 South Korea       
  10.4.7 Rest of Asia Pacific       
 10.5 South America        
  10.5.1 Argentina       
  10.5.2 Brazil        
  10.5.3 Chile        
  10.5.4 Rest of South America      
 10.6 Middle East & Africa       
  10.6.1 Saudi Arabia       
  10.6.2 UAE        
  10.6.3 Qatar        
  10.6.4 South Africa       
  10.6.5 Rest of Middle East & Africa      
           
11 Key Developments         
 11.1 Agreements, Partnerships, Collaborations and Joint Ventures    
 11.2 Acquisitions & Mergers       
 11.3 New Product Launch       
 11.4 Expansions        
 11.5 Other Key Strategies       
           
12 Company Profiling         
 12.1 A123 Systems LLC        
 12.2 ATL (Amperex Technology Limited)      
 12.3 BYD Company Ltd.        
 12.4 Contemporary Amperex Technology Co. Ltd. (CATL)     
 12.5 EnerDel, Inc.        
 12.6 EVE Energy Co., Ltd.        
 12.7 GS Yuasa Corporation       
 12.8 Hitachi Chemical Co., Ltd.       
 12.9 LG Chem Ltd.        
 12.10 Lishen Battery        
 12.11 Lithium Werks B.V.        
 12.12 Murata Manufacturing Co., Ltd.      
 12.13 Panasonic Corporation       
 12.14 Saft Groupe S.A.        
 12.15 Samsung SDI Co., Ltd.       
 12.16 Sony Corporation        
 12.17 Tenergy Corporation       
 12.18 Toshiba Corporation       
 12.19 Ultralife Corporation       
 12.20 Varta AG         
           
List of Tables          
1 Global Lithium Polymer Battery Market Outlook, By Region (2022-2030) ($MN)   
2 Global Lithium Polymer Battery Market Outlook, By Type (2022-2030) ($MN)   
3 Global Lithium Polymer Battery Market Outlook, By Cylindrical (2022-2030) ($MN)   
4 Global Lithium Polymer Battery Market Outlook, By Prismatic (2022-2030) ($MN)   
5 Global Lithium Polymer Battery Market Outlook, By Pouch (2022-2030) ($MN)   
6 Global Lithium Polymer Battery Market Outlook, By Other Types (2022-2030) ($MN)  
7 Global Lithium Polymer Battery Market Outlook, By Capacity (2022-2030) ($MN)   
8 Global Lithium Polymer Battery Market Outlook, By 1 – 3000 mAh (2022-2030) ($MN)  
9 Global Lithium Polymer Battery Market Outlook, By 3000 – 10,000 mAh (2022-2030) ($MN)  
10 Global Lithium Polymer Battery Market Outlook, By 10,000 – 60,000 mAh (2022-2030) ($MN)  
11 Global Lithium Polymer Battery Market Outlook, By Above 60,000 mAh (2022-2030) ($MN)  
12 Global Lithium Polymer Battery Market Outlook, By Voltage Range (2022-2030) ($MN)  
13 Global Lithium Polymer Battery Market Outlook, By Below 3.7V (2022-2030) ($MN)   
14 Global Lithium Polymer Battery Market Outlook, By 3.7V – 7.4V (2022-2030) ($MN)   
15 Global Lithium Polymer Battery Market Outlook, By Above 7.4V (2022-2030) ($MN)   
16 Global Lithium Polymer Battery Market Outlook, By Industry Vertical (2022-2030) ($MN)  
17 Global Lithium Polymer Battery Market Outlook, By Automotive (2022-2030) ($MN)  
18 Global Lithium Polymer Battery Market Outlook, By Healthcare (2022-2030) ($MN)   
19 Global Lithium Polymer Battery Market Outlook, By Industrial (2022-2030) ($MN)   
20 Global Lithium Polymer Battery Market Outlook, By Consumer Electronics (2022-2030) ($MN)  
21 Global Lithium Polymer Battery Market Outlook, By Renewable Energy (2022-2030) ($MN)  
22 Global Lithium Polymer Battery Market Outlook, By Other Industry Verticals (2022-2030) ($MN) 
23 Global Lithium Polymer Battery Market Outlook, By Application (2022-2030) ($MN)   
24 Global Lithium Polymer Battery Market Outlook, By Electric Vehicles (2022-2030) ($MN)  
25 Global Lithium Polymer Battery Market Outlook, By Aerospace & Defense (2022-2030) ($MN)  
26 Global Lithium Polymer Battery Market Outlook, By Medical Devices (2022-2030) ($MN)  
27 Global Lithium Polymer Battery Market Outlook, By Power Tools (2022-2030) ($MN)  
28 Global Lithium Polymer Battery Market Outlook, By Energy Storage Systems (2022-2030) ($MN) 
29 Global Lithium Polymer Battery Market Outlook, By Other Applications (2022-2030) ($MN)  
           
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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