Summary

The Europe lithium-ion battery market is projected to grow from $12.55 billion in 2024 to $21.22 billion by 2031, with a CAGR of 7.80%. Renowned for their high energy density and lightweight characteristics, lithium-ion batteries (LIBs) are becoming the go-to solution across multiple industries, including consumer electronics, automotive, and industrial applications. This press release delves into the factors fueling the growth of the Europe lithium-ion battery market and identifies key areas of expansion.

Market Dynamics

Increasing Demand from Electric Vehicles

Europe has long been at the forefront of green technology initiatives and carbon emission reduction efforts. The shift towards electric vehicles is a major driver of the lithium-ion battery market’s growth in the region. The enforcement of strict regulations aimed at reducing greenhouse gas emissions, combined with government incentives for electric vehicle uptake, has led to a sharp rise in the demand for lithium-ion batteries. These batteries are becoming increasingly integral to both private vehicles and public transportation systems, positioning them as a cornerstone of Europe’s energy storage strategy.

Growing Applications in Energy Storage

In addition to automotive uses, lithium-ion batteries are gaining traction in energy storage systems. The rise of renewable energy sources such as solar and wind has underscored the need for efficient energy storage solutions, where lithium-ion batteries are playing a critical role. These batteries store surplus energy generated by renewables, ensuring a consistent and reliable energy supply. The expanding use of battery-powered uninterruptible power supplies (UPS) and off-grid energy storage systems is further fueling the demand for lithium-ion batteries.

Technological Progress and Innovation

European manufacturers are investing significantly in research and development to address the challenges associated with lithium-ion batteries, such as performance degradation at high temperatures. Cutting-edge approaches to battery design and material science are being explored to improve the durability and efficiency of lithium-ion batteries. These technological advancements are expected to spur market growth by overcoming the limitations of current battery technologies and broadening their range of applications.

Segment Insights

Lithium Iron Phosphate Batteries Leading the Market

Among the various types of lithium-ion batteries, lithium iron phosphate (LiFePO4) batteries are emerging as a preferred choice across multiple applications. Known for their high durability, thermal stability, and rapid charging capabilities, these batteries are increasingly being used in moderate to high-capacity energy storage systems. Their superior performance makes them a favored option for manufacturers aiming to enhance the lifespan and efficiency of their products.

Electric Vehicles: The Primary Growth Catalyst

The electric vehicle segment is anticipated to be the largest consumer of lithium-ion batteries in Europe. The region’s strong commitment to zero-emission transportation and the increasing awareness of carbon-neutral systems are major factors driving this trend. As more consumers and industries transition to electric vehicles, the demand for lithium-ion batteries is expected to experience substantial growth, cementing their role as a key component of Europe’s sustainable future.

Challenges and Opportunities

Emerging Alternatives and Market Limitations

Despite the promising growth outlook, the lithium-ion battery market faces challenges from emerging alternative technologies. New battery innovations that offer lighter and more cost-effective solutions could potentially limit the growth of lithium-ion batteries. Additionally, concerns regarding the performance of lithium-ion batteries in high-temperature environments persist, as heat-related issues can impact battery efficiency and longevity.

Price Trends and Future Prospects

A notable trend in the market is the ongoing decline in lithium-ion battery prices. European Commission initiatives to promote local sourcing of raw materials and policies encouraging the widespread adoption of lithium-ion batteries are driving this trend. As prices continue to decrease, the accessibility and affordability of lithium-ion batteries are expected to improve, further accelerating their adoption across various sectors.

Competitive Analysis

Expansion of Production Capacities

Leading manufacturers in the European lithium-ion battery market are scaling up their production capacities to meet the rising demand. The region is witnessing a surge in the establishment of gigafactories, with battery cell suppliers collaborating with original equipment manufacturers (OEMs) to develop customized solutions. This trend is likely to accelerate as more players enter the market and expand their operations.

Strategic Collaborations and Acquisitions

The competitive Analysis is also marked by strategic collaborations and acquisitions. Companies are forming alliances to strengthen their market position and capitalize on the growing demand for lithium-ion batteries. For instance, leading battery manufacturers are partnering with automotive companies to supply batteries for electric vehicles, while others are exploring new markets for energy storage solutions.

•Panasonic Corporation

•Samsung SDI Co., Ltd.

•LG Chem Ltd

•Enersys Inc.

•Saft Groupe S.A.

•CATL

•Ultralife Corporation

•Leclanché SA

•Energizer Holdings, Inc.

•Northvolt ABB

•Excell Battery Co.

•Triathlon Batteries Solutions, Inc.

•KAYO Battery (Shenzhen) Company Limited

•Lithium Werks B.V.

•Duracell Inc.

•Bestgo Battery Co., Ltd.

•Clayton Power

•Enerdel, Inc.

•Tadiran Batteries

Europe Lithium-Ion Battery market Segmentation

By Cell Type:

•Cylindrical

•Prismatic

•Pouch

By Chemistry:

•Lithium Cobalt Oxide

•Lithium Manganese Oxide

•Lithium Iron Phosphate

•Lithium Nickel Manganese Cobalt Oxide

•Lithium Nickel Cobalt Aluminium Oxide

•Lithium Titanate

By Voltage:

•Less than 4.5V

•4.6V to 12V

•13V to 18V

•19V to 24V

•25V to 36V

•37V to 48V

•Above 48V

By Application:

•Electric Bikes

•Electric Scooters

•Electric Vehicles

oPassenger Cars

oLight Commercial Vehicles

oHeavy Commercial Vehicles

•Energy Storage Systems

•Railway Systems

•Marine Systems

•Military

•Telecommunications

•Industrial Vehicles (klifts, etc.)

•Aerospace & Aviation

•Consumer Electronics

•Others

By Country:

•Germany

•France

•Italy

•Spain

•UK

•BENELUX

•Rest of Europe

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Table of Contents

1. Executive Summary
1.1. Europe Lithium-Ion Battery Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Volume and Value, 2023
1.5. Analyst Recommendations
2. Market Overview
2.1. Market Definitions and Segmentations
2.2. Market Dynamics
2.2.1. Drivers
2.2.2. Restraints
2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. Porter’s Five Forces Analysis
2.5. Covid-19 Impact Analysis
2.5.1. Supply
2.5.2. Demand
2.6. Impact Of Ukraine-Russia Conflict
2.7. Economic Overview
2.7.1. World Economic Projections
2.8. Pestle Analysis
3. Production Output and Trade Statistics, 2019-2023
3.1. Europe Lithium-Ion Battery Market Production Output, Value (US$ Bn) and Volume (Units),2019-2023
3.1.1. Europe
4. Price Analysis, 2019-2023
4.1. Average Price Analysis, by Cell Type, US$ Per Unit, 2019-2023
4.2. Prominent Factor Affecting Embedded Microprocessor Prices
4.3. Average Price Analysis, by Region, US$ Per Unit, 2019-2023
5. Europe Lithium-Ion Battery Market Outlook, 2019-2031
5.1. Europe Lithium-Ion Battery Market Outlook, by Cell Type, Value (US$ Bn) and Volume (Units), 2019-2031
5.1.1. Key Highlights
5.1.1.1. Cylindrical
5.1.1.2. Prismatic
5.1.1.3. Pouch
5.2. Europe Lithium-Ion Battery Market Outlook, by Chemistry, Value (US$ Bn) and Volume (Units), 2019-2031
5.2.1. Key Highlights
5.2.1.1. Lithium Cobalt Oxide
5.2.1.2. Lithium Manganese Oxide
5.2.1.3. Lithium Iron Phosphate
5.2.1.4. Lithium Nickel Manganese Cobalt Oxide
5.2.1.5. Lithium Nickel Cobalt Aluminium Oxide
5.2.1.6. Lithium Titanate
5.3. Europe Lithium-Ion Battery Market Outlook, by Voltage, Value (US$ Bn) and Volume (Units), 2019-2031
5.3.1. Key Highlights
5.3.1.1. Less than 4.5V
5.3.1.2. 4.6V to 12V
5.3.1.3. 13V to 18V
5.3.1.4. 19V to 24V
5.3.1.5. 25V to 36V
5.3.1.6. 37V to 48V
5.3.1.7. Above 48V
5.4. Europe Lithium-Ion Battery Market Outlook, by Application, Value (US$ Bn) and Volume (Units), 2019-2031
5.4.1. Key Highlights
5.4.1.1. Electric Bikes
5.4.1.2. Electric Scooters
5.4.1.3. Electric Vehicles
5.4.1.3.1. Passenger Cars
5.4.1.3.2. Light Commercial Vehicle
5.4.1.3.3. Heavy Commercial Vehicle
5.4.1.4. Energy Storage System
5.4.1.5. Railway Systems
5.4.1.6. Marine Systems
5.4.1.7. Military
5.4.1.8. Telecommunications
5.4.1.9. Industrial Vehicles (klifts, etc.)
5.4.1.10. Aerospace & Aviation
5.4.1.11. Consumer Electronics
5.4.1.12. Others
5.5. Europe Lithium-Ion Battery Market Outlook, by Country, Value (US$ Bn) and Volume (Units), 2019-2031
5.5.1. Key Highlights
5.5.1.1. Germany
5.5.1.2. France
5.5.1.3. Italy
5.5.1.4. Spain
5.5.1.5. UK
5.5.1.6. Benelux
5.5.1.7. Rest of Europe
6. Competitive Landscape
6.1. Voltage Vs Chemistry Heat Map
6.2. Manufacturer Vs by Chemistry Heatmap
6.3. Company Market Share Analysis, 2023
6.4. Competitive Dashboard
6.5. Company Profiles
6.5.1. Panasonic Corporation
6.5.1.1. Company Overview
6.5.1.2. Cell Type Portfolio
6.5.1.3. Financial Overview
6.5.1.4. Business Strategies and Development
6.5.2. Samsung SDI Co., Ltd.
6.5.2.1. Company Overview
6.5.2.2. Cell Type Portfolio
6.5.2.3. Financial Overview
6.5.2.4. Business Strategies and Development
6.5.3. LG Chem Ltd
6.5.3.1. Company Overview
6.5.3.2. Cell Type Portfolio
6.5.3.3. Financial Overview
6.5.3.4. Business Strategies and Development
6.5.4. Enersys Inc.
6.5.4.1. Company Overview
6.5.4.2. Cell Type Portfolio
6.5.4.3. Financial Overview
6.5.4.4. Business Strategies and Development
6.5.5. Saft Groupe S.A.
6.5.5.1. Company Overview
6.5.5.2. Cell Type Portfolio
6.5.5.3. Financial Overview
6.5.5.4. Business Strategies and Development
6.5.6. CATL
6.5.6.1. Company Overview
6.5.6.2. Cell Type Portfolio
6.5.6.3. Financial Overview
6.5.6.4. Business Strategies and Development
6.5.7. Ultralife Corporation
6.5.7.1. Company Overview
6.5.7.2. Cell Type Portfolio
6.5.7.3. Financial Overview
6.5.7.4. Business Strategies and Development
6.5.8. Leclanché SA
6.5.8.1. Company Overview
6.5.8.2. Cell Type Portfolio
6.5.8.3. Financial Overview
6.5.8.4. Business Strategies and Development
6.5.9. Energizer Holdings, Inc.
6.5.9.1. Company Overview
6.5.9.2. Cell Type Portfolio
6.5.9.3. Financial Overview
6.5.9.4. Business Strategies and Development
6.5.10. Northvolt ABB
6.5.10.1. Company Overview
6.5.10.2. Cell Type Portfolio
6.5.10.3. Financial Overview
6.5.10.4. Business Strategies and Development
6.5.11. Excell Battery Co.
6.5.11.1. Company Overview
6.5.11.2. Cell Type Portfolio
6.5.11.3. Financial Overview
6.5.11.4. Business Strategies and Development
6.5.12. Triathlon Batteries Solutions, Inc.
6.5.12.1. Company Overview
6.5.12.2. Cell Type Portfolio
6.5.12.3. Financial Overview
6.5.12.4. Business Strategies and Development
6.5.13. KAYO Battery (Shenzhen) Company Limited
6.5.13.1. Company Overview
6.5.13.2. Cell Type Portfolio
6.5.13.3. Financial Overview
6.5.13.4. Business Strategies and Development
6.5.14. Lithium Werks B.V.
6.5.14.1. Company Overview
6.5.14.2. Cell Type Portfolio
6.5.14.3. Financial Overview
6.5.14.4. Business Strategies and Development
6.5.15. Duracell Inc.
6.5.15.1. Company Overview
6.5.15.2. Cell Type Portfolio
6.5.15.3. Financial Overview
6.5.15.4. Business Strategies and Development
6.5.16. Bestgo Battery Co., Ltd.
6.5.16.1. Company Overview
6.5.16.2. Cell Type Portfolio
6.5.16.3. Financial Overview
6.5.16.4. Business Strategies and Development
6.5.17. Clayton Power
6.5.17.1. Company Overview
6.5.17.2. Cell Type Portfolio
6.5.17.3. Financial Overview
6.5.17.4. Business Strategies and Development
6.5.18. Enerdel, Inc.
6.5.18.1. Company Overview
6.5.18.2. Cell Type Portfolio
6.5.18.3. Financial Overview
6.5.18.4. Business Strategies and Development
6.5.19. Tadiran Batteries
6.5.19.1. Company Overview
6.5.19.2. Cell Type Portfolio
6.5.19.3. Financial Overview
6.5.19.4. Business Strategies and Development
7. Appendix
7.1. Research Methodology
7.2. Report Assumptions
7.3. Acronyms And Abbreviations