Analyzing the Future Landscape: UK Lithium-Ion Battery Market By 2026, With a Striking CAGR of 15% - MarkNtel Advisors

How big is the UK Lithium-Ion Battery market?

According to MarkNtel Advisors’ research report, “The UK Lithium-Ion Battery Market is anticipated to grow at around 15% CAGR during the forecast period, i.e., 2021-26.

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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.

Leading Companies in the UK Lithium-Ion Battery market:

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.

UK Lithium-Ion Battery 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.

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

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Regional/ Countries Insight:

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.

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About MarkNtel Advisors:

MarkNtel Advisors is a leading consulting, data analytics, and market research company that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.

We have our existence across the market for many years and have conducted multi-industry research across 80+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East & Africa, etc., and many countries across the regional scale, namely, the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others.