Lithium Battery Manufacturing Equipment Market Size, Share, Growth, and Industry Analysis, By Type (Pretreatment, Cell Assembly, Post Processing and others), By Application (Consumer Electronics, Power and Others), Regional Insights, and Forecast From 2024 To 2031

Updated On: 08 April 2024

Lithium Battery Manufacturing Equipment Market Report Overview

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The global lithium battery manufacturing equipment market size was USD 6695.2 million in 2022 and is projected to touch USD 38069.16 million by 2031, exhibiting a CAGR of 21.3% during the forecasting period.

It follows that in order to keep up with the rapidly expanding demand for lithium batteries, manufacturing equipments for the production for these batteries will be required. To construct a lithium battery manufacturing equipment is necessary to mix slurries, manufacture electrodes, and assemble the battery's cells. Only a few businesses in Europe specialise in battery cell manufacturing equipment, which is used for slurry mixing, electrode fabrication, cell assembly, and cell finishing; the majority are in China, Japan, and South Korea. EV OEMs and battery cell manufacturers will require manufacturing equipment to quickly scale up output and maintain high factory production performance. Companies are making purchasing decisions for manufacturing equipment supply now, as the bulk of stated new gigafactories expect to begin production before 2025.

COVID-19 Impact: The Lockdown Caused to Downfall the Market Growth

The global COVID-19 pandemic has been unprecedented, staggering, as the lithium battery manufacturing equipment market are experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributed to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Because of the pandemic, the worldwide capacity utilisation rate of lithium-ion batteries reached its lowest point in 2020, pulled down by industrial shutdowns. COVID-19 has been a major limitation on market growth due to many factors, including end-users cutting operational expenses, as well as disruptions in spare part availability due to sluggish production activity and logistics concerns. Battery providers have taken further precautions to ensure that their services are available to end users who have signed long-term contracts with them. Vendors are choosing for digital tools and implementing specified preventative measures such as social distancing norms and the usage of protective kits in the event that end-users require on-site inspection and repair services on a case-by-case basis.

LATEST TRENDS

"The Growing Demand for Electrical Vehicles Ramped Up the Market Share"

The majority of portable consumer electronics use lithium-ion batteries due to their high power-to-weight ratio, performance at high temperatures, and low self-discharge. Compared to other types of energy storage systems, lithium-ion batteries provide more energy per unit of mass. Although they differ chemically from their smaller relatives in consumer devices, lithium-ion batteries are nonetheless often used in today's majority of EVs and hybrids for the same reasons. The demand for lithium-ion batteries is expected to increase as the global market for automobiles expands. The electric vehicle boom is a major factor behind the enormous expansion of the battery and lithium battery manufacturing equipment market share.

Lithium Battery Manufacturing Equipment Market Segmentation

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• By Type Analysis

Based on type, the lithium battery manufacturing equipment market is subdivided into pretreatment, cell assembly, post processing and others.

• By Application Analysis

Based on the applications, the lithium battery manufacturing equipment market is subdivided into consumer electronics, power and others.

DRIVING FACTORS

"Numerous Industrial Application of the Battery to Increase the Market for the Equipments"

Commercial structures, data centres, and universities can also use lithium-ion batteries to provide a backup power supply. For energy storage in residential solar PV systems, lithium-ion batteries are recommended as well. These elements will accelerate the development of the application segment for energy storage systems within the anticipated time frame. Power tools, cordless tools, agricultural machinery, marine equipment and machinery, industrial automation systems, electronics, civil infrastructure, oil and gas, and aviation and just a few examples of the numerous industrial applications for lithium-ion batteries.

"Increased Demand from Electronic Devices Market to Drive Growth of the Equipments"

Mobile phones, laptops, desktops, tablets, torches or lanterns, LED lighting, vacuum cleaners, digital cameras, wristwatches, calculators, hearing aids, and other wearable gadgets are just a few of the things that can use portable batteries. Over the projection period, the market for electric and hybrid vehicles is expected to grow profitably. The expansion of lithium battery manufacturing equipment market is anticipated to be aided by rising fossil fuel prices and increased consumer knowledge of the advantages of battery-powered vehicles, notably in North America, Europe, and Asia-Pacific.

RESTRAINING FACTORS

"Disdain with the Higher Cost of the Equipments to Restrain the Market Growth"

Because these batteries are more expensive, researchers are still working to increase their life-cycles and eliminate overheating safety issues. Furthermore, the majority of the parts found inside lithium-ion batteries are recyclable. The cost of recovery is still a problem for the sector. The higher cost of some equipments, however, can impede the lithium battery manufacturing equipment market growth.

Lithium Battery Manufacturing Equipment Market Regional Insights

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"Asia Pacific to Lead Market Share as Production Demand Fuels Up"

With a market revenue share of more than quarter in 2021, the Asia Pacific region held the top spot. Due to the growing environmental concerns, China has banned traditional fossil fuel-powered scooters from all of its main cities in an effort to cut pollution, which has increased the country's e-scooter sales. The usage of tools powered by lithium-ion batteries has expanded as a result of Asia Pacific's ascent to prominence as a hub for global manufacturing. The region also has the most population in the entire world. As a result, consumer devices that rely on lithium-ion batteries for functioning, such mobile phones and laptops, see strong sales in the Asia Pacific region for lithium battery manufacturing equipment market.

One of the key aspects that is positively affecting the demand for lithium-ion batteries is the expanding market for electric vehicles in Asia Pacific nations like China and India. Due to the growing use of lithium-ion batteries in consumer electronics, electric vehicles, and energy storage systems, the market is anticipated to develop moderately over the projected period.

KEY INDUSTRY PLAYERS

"Key Prominent Players to Drive the Market"

The report analyzes different market players in the industry. The information is published after proper research, analysis of trends, key developments, the introduction of new initiatives, and technological developments and innovations.

List of Market Players Profiled

• Wuxi Lead (China)
• Yinghe Technology (China)
• PNT (UAE)
• CHR (Ireland)
• Hirano Tecseed (Japan)
• CIS (U.S.A)
• PNE (British Coumbia)
• Blue Key (U.S.A)
• Manz (Germany)
• Putailai (China)
• mPlus (Italy)
• Naura Technology (China)
• Haoneng Technology (China)
• Shenzhen Geesun (China)
• Toray (Japan)
• CKD (Japan)
• Hitachi High-Technologies (U.S.A)
• Fuji (Japan).

REPORT COVERAGE

The report examines elements affecting the demand and supply sides and estimates dynamic market forces for the forecast period. The report offers drivers, restraints, and future trends. After evaluating governmental, financial, and technical market factors, the report provides exhaustive PEST and SWOT analysis for regions. The research is subject to alteration if the key players and probable analysis of market dynamics change. The information is an approximate estimate of the factors mentioned, taken into consideration after thorough research.