The UK Lithium-Ion Battery

The UK Lithium-Ion Battery Market Research Report: Forecast (2021-2026)

By Type (Lithium Cobalt Oxide, Lithium Manganese Oxide, Lithium Iron Phosphate, Lithium Nickel Cobalt Aluminum Oxide, Lithium Titanate Oxide, Lithium Nickel Manganese Cobalt), By Application (Consumer Read more

  • Energy
  • Feb 2021
  • 92
  • EN44023

Market Definition

A Lithium-Ion (Li-Ion) battery is a kind of rechargeable battery in which lithium-ions travel from negatively charged to positively charged electrodes through the electrolyte and back when charging. The increasing inclination toward electrifying & decarbonizing the transportation sector of the UK and the mounting need to address rapid climate changes & build a clean-energy economy are driving the demand for lithium-ion batteries in the country.

Market insights

The UK Lithium-Ion Battery Market is anticipated to grow at around 15% CAGR during the forecast period, i.e., 2021-26The growth of the market is driven principally due to the various government initiatives toward electrification of the transportation sector to curb carbon emissions. The automotive industry is the primary end-user of Lithium-Ion batteries in the United Kingdom. Besides, the mounting demand for Plug-in Hybrid Electric Vehicles (PHEVs) and the surging number of EV charging points is another crucial aspect projected to boost the market during 2021-26.

Furthermore, the mounting penetration of electronic devices, including laptops, tablets, smartphones, etc., is another crucial factor propelling the market growth. Moreover, due to benefits like the ability to support high current applications and the long life span, numerous end-users are adopting lithium-ion batteries, which, in turn, is contributing to the overall market growth.

Report Coverage Details
Study Period Historical Data: 2016-19
Base Year: 2020
Forecast Period: 2021-26
CAGR 15%
Key Companies Profiled Murata Electronics, Samsung SDI Co. Ltd., Panasonic Industry Europe GmbH, Envision AESC Group Ltd., BYD Co. Ltd., Exide Technologies, GS Yuasa Battery Europe Ltd., Johnson Matthey Battery Systems, LG Chem Europe GmbH, Saft Groupe S.A., etc.
Unit Denominations USD Million/Billion

 

Impact of Covid-19 on the UK Lithium-Ion Battery Market

  • In 2020, the Covid-19 pandemic adversely impacted various industries of most countries.
  • However, the UK Lithium-Ion Market was reasonably affected, mainly due to the imposition of lockdown & movement restrictions.
  • Quarantines & stay-at-home orders resulted in the closure of manufacturing units, which, in turn, impacted the automobile production facilities and led to supply chain disruptions.
  • Further, the economic uncertainty and mass layoffs limited consumer spending only on essentials, which resulted in the declining demand for electronic devices like mobile phones and tablets.
  • These factors catastrophically threatened the UK Lithium-Ion Battery Industry amidst the crisis.
  • However, since lithium-ion batteries are used widely in many medical devices like ventilators that have been critical since the pandemic, the Li-ion market in the UK witnessed a steady hike.
  • Moreover, with the relaxation of lockdown restrictions, the production & sales of automobiles & consumer electronics have quickly rebounded.
  • As a result, based on these factors, the market is expecting significant expansion in the coming years.

The UK Lithium-Ion Battery Market Research Report: Forecast (2021-2026)

Market Segmentation

By Type:

  • Lithium Cobalt Oxide
  • Lithium Manganese Oxide
  • Lithium Iron Phosphate
  • Lithium Nickel Cobalt Aluminum Oxide
  • Lithium Titanate Oxide
  • Lithium Nickel Manganese Cobalt

Amongst all types of Lithium-Ion batteries, Lithium Cobalt Oxide (LCO) batteries are used most extensively due to their high specific energy delivered over a relatively long period under low-load applications. As a result, it makes them ideal for mobile phones, laptops, & digital cameras.

However, LCO batteries have low thermal stability, which causes several safety concerns. Moreover, since cobalt is highly expensive & toxic, these batteries are not cost-effective. Additionally, their low specific power restrains their performance in high-load applications. Hence, these aspects associated with LCO batteries are leading to their reducing popularity in the UK market.

On the other hand, the demand for Lithium Nickel Manganese Cobalt (NMC) batteries is expected to witness the fastest growth during the forecast period due to their significantly high demand among EV manufacturers for their lower costs, higher energy density, and longer cycle life. The rapidly increasing manufacturing of EVs to cater to the burgeoning requirements of customers is projected to further augment the procurement of Lithium Nickel Manganese Cobalt batteries in the UK over the forecast years.

By Application:

  • Consumer Electronics
  • Industrial
  • Automotive

Of them all, the automotive industry holds the largest share of the UK Lithium-Ion Battery Market, owing prominently to the rising penetration of electric vehicles in the UK, declining battery prices, and various technological advancements in batteries. Moreover, with the mounting need to reduce carbon emissions, the UK government is taking several initiatives toward electrifying the transportation sector, thereby promoting the adoption of electric automobiles.

Hence, the surging demand for electric vehicles will lead to a steady supply of lithium-ion batteries, which, as a result, would propel the overall market growth in the coming years. In 2018, the government of the United Kingdom launched the “Road to Zero” strategy. The prime reason behind this launch was to fuel the sales of electric vehicles that can drive a significant distance with no carbon emissions in the country. Such programs & initiatives are expected to fuel the sales of electric vehicles in the UK and encourage the demand for Lithium-Ion batteries over the forecast years.

On the other hand, Consumer Electronics is expected to hold a substantial market share during 2021-26. The increasing demand for devices with long-life batteries is the most prominent aspect fueling the market growth around the consumer electronics industry. In addition, rising competition among electronics manufacturers to offer superior products with high battery capacity is also providing lucrative growth opportunities to the market around the consumer electronics sector.

Moreover, with the introduction of new features in electronics items, more & more consumers are increasingly purchasing those products, thereby infusing the production & sales of lithium-ion batteries for them. Hence, with the growing demand for consumer electronics, the need for lithium-ion batteries is also expected to increase significantly in the coming years.

Key Trends in the UK Lithium-Ion Battery Market:

  • Declining Prices of Lithium-Ion Batteries

The prices of Lithium-Ion batteries used in phones, tablets, electric vehicles, and laptops have declined dramatically over the past three decades. It is majorly due to various R&D activities that led to the adoption of advanced technologies to increase the cell charge densities entwined with the rapid increase in their production at lower costs. Among all components of lithium-ion batteries, the cell accounts for the maximum costs of batteries. However, innovations by lithium-ion battery manufacturers and automotive companies cite that the prices of these batteries shall decline substantially in the coming years, which, in turn, would increase their adoption & drive the market.

  • Mounting Efforts to Commercialize Battery Recycling 

The battery recycling process is gaining a rapid pace in the UK's EV sector market. It is expected that a few EV battery components like lithium & cobalt will be under short supply after 2024. Since the demand for EVs is expected to surge significantly in the coming years, mainly due to the increasing inclination toward transitioning into a low-carbon future, the production & sales of battery materials would also soar dramatically. This projected boost in the demand for batteries presents a lucrative opportunity for the recycling industry to enter the lithium-ion battery supply chain.

Regional Landscape:

  • England
  • Scotland
  • Wales
  • Northern Ireland

Here, England captured the largest market share in the UK Lithium-Ion Battery Market, principally due to the surging adoption of Lithium-Ion batteries in automobiles since the transportation sector is the largest source of carbon emissions in England. The establishment of a new plant in England is expected to boost the EV industry in the country. A 235-acre Power Station site purchased in Blyth will produce Lithium-Ion batteries for EVs, i.e., expected to begin in 2023.

The new gigafactory will help meet the desired expectation of EV batteries and achieve the target of net-zero carbons by 2050. Further, substantial investments in making technologically advanced consumer electronics, including laptops & smartphones, is another crucial factor fueling the overall growth of the Lithium-Ion Battery Market in England.

Market Dynamics:

Key Driver: Burgeoning Adoption of Electric Vehicles

Lithium-Ion batteries are used widely as a power source for electric vehicles, the adoption of which is rapidly increasing to attain a long-term transition to a low-carbon economy in the country. EVs run on lithium-ion batteries that help reduce the Green House Gases (GHG) and air pollutants, which emit from road transportation. Hence, the increasing inclination toward EVs is expected to significantly increase the demand for Lithium-ion batteries and, in turn, would drive the overall market during 2021-26.

Possible Challenge: Safety Concerns Related to the Transportation & Storage of Lithium-Ion Batteries

Transportation, storage, & safety issues associated with used lithium-ion batteries are the major factors that can hamper the growth of the Lithium-Ion Battery Market in the UK. The battery includes hazardous chemicals & heavy metals, which is why they must be stored safely in water-tight containers and kept away from flammable materials to avoid any fire incidence. Lithium-Ion batteries pose excellent performance, owing to which they are used extensively in electronics items & Electric Vehicles (EVs). However, frequent explosions & fires limit their further applications.

Competitive Landscape

According to MarkNtel Advisors’, the leading players with a considerable share in the UK Lithium-Ion Battery Market are Murata Electronics, Samsung SDI Co. Ltd., Panasonic Industry Europe GmbH, Envision AESC Group Ltd., BYD Co. Ltd., Exide Technologies, GS Yuasa Battery Europe Ltd., Johnson Matthey Battery Systems, LG Chem Europe GmbH, Saft Groupe S.A., etc.

Key Questions Answered in the Market Research Report 

  1. What are the overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares) of the UK Lithium-Ion Battery Market?
  2. What is the region-wise industry size, growth drivers, and challenges?
  3. What are the key innovations, opportunities, current & future trends, and regulations in the UK Lithium-Ion Battery Market?
  4. Who are the key competitors, their key strengths & weaknesses, and how do they perform in the UK Lithium-Ion Battery Market based on a competitive benchmarking matrix?
  5. What are the key results derived from surveys conducted during the UK Lithium-Ion Battery Market study?

Market Outlook, Segmentation and Statistics 

  • Impact of COVID-19 on The UK Lithium-Ion Battery Market
  • Market Size & Analysis
    • By Revenues (USD Million)
  • Market Share & Analysis
    • By Type
      • Lithium Cobalt Oxide
      • Lithium Manganese Oxide
      • Lithium Iron Phosphate
      • Lithium Nickel Cobalt Aluminum Oxide,
      • Lithium Titanate Oxide
      • Lithium Nickel Manganese Cobalt
    • By Application
      • Consumer Electronics
      • Industrial
      • Automotive
    • By Voltage
      • Low (upto 12V)
      • Medium (13V to 35V)
      • High (More Than 35V)
    • By Power Capacity
      • Less Than 3,000 mAh
      • 3,000 to 10,000 mAh
      • 10,000 to 50,000 mAh
      • 50,000 mAh & Above
    • By Country
      • England
      • Scotland
      • Wales
      • Northern Ireland
    • By Company
      • Revenue Shares
      • Strategic Factorial Indexing
      • Competitor Placement in MarkNtel Quadrant
  • The United Kingdom Lithium-Ion Battery Market Trends & Developments
  • The United Kingdom Lithium-Ion Battery Value Chain Analysis
  • The UK Lithium-Ion Battery Market Policies, Regulations, Product Standard
  • The UK Lithium-Ion Battery Market Hotspots & Opportunities
  • The UK Lithium-Ion Battery Key Strategic Imperatives for Success & Growth
  • Competition Outlook
    • Competitor Wise Growth Strategies
    • Company Profiles

Frequently Asked Questions

A. The UK Lithium-Ion Battery Market is expected to grow at a CAGR of around 15% during 2021-26.

A. The rapidly increasing demand for Lithium Nickel Manganese Cobalt (NMC) batteries is expected to emerge as an area of lucrative opportunities for the leading players in the UK Lithium-Ion Battery Market during 2021-26.

A. The increasing demand for EVs, mounting investments in the EV infrastructure, and the surging adoption of smart devices in the UK are the prime factors projected to drive the Lithium-Ion Battery Market in the country during 2021-26.

A. In the coming years, the UK Lithium-Ion Battery Market is projected to grow astronomically owing to the resumption of manufacturing operations, ever-increasing sales of EVs, and surging usage of Lithium-Ion batteries in medical devices.

  1. Introduction
    1. Product Definition
    2. Research Process
    3. Assumptions
    4. Market Segmentation
  2. Preface
  3. Executive Summary
  4. Impact of COVID-19 on The UK Lithium-Ion Battery Market
  5. The United Kingdom Lithium-Ion Battery Market Outlook, 2016-2026F
    1. Market Size & Analysis
      1. Market Revenues
      2. Unit Sold
    2. Market Share & Analysis
      1. By Type
        1. Lithium Cobalt Oxide
        2. Lithium Manganese Oxide
        3. Lithium Iron Phosphate
        4. Lithium Nickel Cobalt Aluminum Oxide
        5. Lithium Titanate Oxide
        6. Lithium Nickel Manganese Cobalt
      2. By Application
        1. Consumer Electronics
        2. Industrial
        3. Automotive
      3. By Voltage
        1. Low (upto 12V)
        2. Medium (13V to 35V)
        3. High (More Than 35V)
      4. By Power Capacity
        1. Less Than 3,000 mAh
        2. 3,000 to 10,000 mAh
        3. 10,000 to 50,000 mAh
        4. 50,000 mAh & Above
      5. By Region
        1. England
        2. Scotland
        3. Wales
        4. Northern Ireland
      6. By Company
        1. Competition Characteristics
        2. Market Share & Analysis
        3. Competitive Metrix
  6. The United Kingdom Consumer Electronics Lithium-Ion Battery Market Outlook, 2016-2026F
    1. Market Size & Analysis
      1. Market Revenues
      2. Unit Sold
    2. Market Share & Analysis
      1. By Type
        1. Smartphones
        2. Laptops
        3. UPS
        4. Others (Gardening Tools, Games, etc.)
      2. By Voltage
      3. By Power Capacity
      4. By Region
  7. The United Kingdom Industrial Lithium-Ion Battery Market Analysis, 2016-2026F
    1. Market Size & Analysis
      1. Market Revenues
      2. Unit Sold
    2. Market Share & Analysis
      1. By Type
        1. Commercial Aircraft
        2. Mining Equipment
        3. Commercial Ships
        4. Construction Equipment
        5. Energy Storage
        6. Others (Automated Mobile Robots, etc.)
      2. By Voltage
      3. By Power Capacity
      4. By Region
  8. The United Kingdom Automotive Lithium-Ion Battery Market Outlook, 2016-2026F
    1. Market Size & Analysis
      1. Market Revenues
      2. Unit Sold
    2. Market Share & Analysis
      1. By Type
        1. Battery Electric Vehicles
        2. Plug-In Hybrid Electric Vehicles
      2. By Voltage
      3. By Power Capacity
      4. By Region
  9. The United Kingdom Lithium-Ion Battery Market Trends & Developments
  10. The United Kingdom Lithium-Ion Battery Value Chain Analysis
  11. The United Kingdom Lithium-Ion Battery Regulations and Policies
  12. The United Kingdom Lithium-Ion Battery Market Dynamics
    1. Impact Analysis
    2. Drivers
    3. Challenges
  13. Key Strategic Imperatives for Success and Growth
  14. The United Kingdom Lithium-Ion Battery Market Hotspots & Opportunities
  15. Competitive Benchmarking
    1. Competition Matrix
      1. Product Portfolio
      2. Target Markets
      3. Target End Users
      4. Research & Development
      5. Strategic Alliances
      6. Strategic Initiatives
    2. Company Profiles
      1. Murata Electronics
      2. Samsung SDI Co. Ltd.
      3. Panasonic Industry Europe GmbH
      4. Envision AESC Group Ltd.
      5. BYD Co. Ltd.
      6. Exide Technologies
      7. GS Yuasa Battery Europe Ltd
      8. Johnson Matthey Battery Systems
      9. LG Chem Europe GmbH
      10. Saft Groupe S.A.
  16. Disclaimer
The UK Lithium Ion Battery Market Segmentation