Lithium-Ion Accumulator Market

The global lithium-ion accumulator market is projected to decrease in consumption volume by 2030, with China leading in both consumption and production. The market value is expected to contract slightly, while production and exports are set to see gradual growth. Learn about the trends in consumption, production, imports, and exports in this comprehensive article.

Market Forecast

The lithium-ion accumulator market is expected to start a downward consumption trend over the next eight-year period. The performance of the market is forecast to decrease slightly, with an anticipated CAGR of -1.2% for the eight-year period from 2022 to 2030, which is projected to depress the market volume to 4.9B units by the end of 2030.

In value terms, the market is forecast to contract with an anticipated CAGR of +1.8% for the period from 2022 to 2030, which is projected to bring the market value to $83.9B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Lithium-Ion Electric Accumulators (Excl. Spent)

Global lithium-ion accumulator consumption soared to 5.3B units in 2022, surging by 23% compared with the previous year's figure. The total consumption volume increased at an average annual rate of +2.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak volume and is likely to continue growth in the immediate term.

The global lithium-ion accumulator market revenue soared to $72.6B in 2022, increasing by 52% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption saw prominent growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Consumption By Country

The country with the largest volume of lithium-ion accumulator consumption was China (1.8B units), accounting for 33% of total volume. Moreover, lithium-ion accumulator consumption in China exceeded the figures recorded by the second-largest consumer, India (822M units), twofold. The third position in this ranking was taken by the United States (687M units), with a 13% share.

In China, lithium-ion accumulator consumption contracted by an average annual rate of -5.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: India (+54.7% per year) and the United States (+17.7% per year).

In value terms, the United States ($13.1B), Germany ($11.3B) and China ($5B) appeared to be the countries with the highest levels of market value in 2022, with a combined 40% share of the global market. Hungary, India, Hong Kong SAR and Turkey lagged somewhat behind, together comprising a further 11%.

Among the main consuming countries, Hungary, with a CAGR of +39.2%, saw the highest rates of growth with regard to market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of lithium-ion accumulator per capita consumption was registered in Hong Kong SAR (38 units per person), followed by Hungary (14 units per person), Germany (3.3 units per person) and the United States (2.1 units per person), while the world average per capita consumption of lithium-ion accumulator was estimated at 0.7 units per person.

From 2012 to 2022, the average annual rate of growth in terms of the lithium-ion accumulator per capita consumption in Hong Kong SAR amounted to +14.0%. In the other countries, the average annual rates were as follows: Hungary (+16.5% per year) and Germany (+34.7% per year).

Production

World Production of Lithium-Ion Electric Accumulators (Excl. Spent)

For the third year in a row, the global market recorded growth in production of lithium-ion accumulators, which increased by 34% to 6.8B units in 2022. Over the period under review, the total production indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of +7.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +82.8% against 2017 indices. As a result, production attained the peak volume and is likely to continue growth in the immediate term.

In value terms, lithium-ion accumulator production stood at $27.8B in 2022 estimated in export price. In general, production recorded a prominent expansion. The pace of growth appeared the most rapid in 2015 with an increase of 61% against the previous year. Over the period under review, global production reached the maximum level in 2022 and is likely to see gradual growth in the immediate term.

Production By Country

China (5.1B units) constituted the country with the largest volume of lithium-ion accumulator production, accounting for 75% of total volume. Moreover, lithium-ion accumulator production in China exceeded the figures recorded by the second-largest producer, Hong Kong SAR (396M units), more than tenfold. Singapore (362M units) ranked third in terms of total production with a 5.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China stood at +6.3%. The remaining producing countries recorded the following average annual rates of production growth: Hong Kong SAR (+36.8% per year) and Singapore (+11.9% per year).

Imports

World Imports of Lithium-Ion Electric Accumulators (Excl. Spent)

In 2022, overseas purchases of lithium-ion accumulators increased by 7.7% to 5.5B units, rising for the eighth consecutive year after two years of decline. In general, imports showed a remarkable increase. The most prominent rate of growth was recorded in 2021 when imports increased by 33% against the previous year. Over the period under review, global imports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

In value terms, lithium-ion accumulator imports skyrocketed to $90.8B in 2022. Overall, imports saw a significant expansion. The pace of growth appeared the most rapid in 2021 when imports increased by 53% against the previous year. Over the period under review, global imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports By Country

The countries with the highest levels of lithium-ion accumulator imports in 2022 were China (1,052M units), India (823M units), Hong Kong SAR (771M units) and the United States (710M units), together recording 61% of total import. It was distantly followed by Germany (346M units), making up a 6.3% share of total imports. Turkey (151M units), the Netherlands (150M units), the Czech Republic (140M units), South Korea (137M units) and Singapore (91M units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by India (with a CAGR of +54.8%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, Germany ($14.4B), the United States ($13.5B) and South Korea ($5.7B) constituted the countries with the highest levels of imports in 2022, with a combined 37% share of global imports. The Netherlands, Hong Kong SAR, the Czech Republic, China, India, Turkey and Singapore lagged somewhat behind, together comprising a further 20%.

Among the main importing countries, the Czech Republic, with a CAGR of +52.8%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average lithium-ion accumulator import price amounted to $16 per unit, picking up by 36% against the previous year. In general, the import price showed resilient growth. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Germany ($42 per unit), while China ($2.8 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+14.1%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Lithium-Ion Electric Accumulators (Excl. Spent)

In 2022, global lithium-ion accumulator exports soared to 7B units, rising by 19% against the previous year. In general, exports saw a prominent increase. The pace of growth was the most pronounced in 2021 with an increase of 41%. The global exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, lithium-ion accumulator exports surged to $102.3B in 2022. Over the period under review, exports saw significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 52% against the previous year. The global exports peaked in 2022 and are likely to continue growth in the near future.

Exports By Country

China represented the major exporting country with an export of around 4.4B units, which finished at 63% of total exports. It was distantly followed by Hong Kong SAR (877M units) and Singapore (395M units), together generating an 18% share of total exports. Poland (310M units), Thailand (235M units), South Korea (169M units) and Germany (112M units) followed a long way behind the leaders.

Exports from China increased at an average annual rate of +14.1% from 2012 to 2022. At the same time, Poland (+68.0%), Thailand (+44.3%), Germany (+36.7%), Singapore (+17.5%), South Korea (+15.8%) and Hong Kong SAR (+5.7%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing exporter exported in the world, with a CAGR of +68.0% from 2012-2022. While the share of Poland (+4.3 p.p.), Thailand (+3.1 p.p.), China (+1.6 p.p.) and Singapore (+1.6 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Hong Kong SAR (-13.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($50.9B) remains the largest lithium-ion accumulator supplier worldwide, comprising 50% of global exports. The second position in the ranking was held by Poland ($8.6B), with an 8.4% share of global exports. It was followed by South Korea, with a 7.2% share.

In China, lithium-ion accumulator exports expanded at an average annual rate of +27.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Poland (+65.3% per year) and South Korea (+13.5% per year).

Export Prices By Country

In 2022, the average lithium-ion accumulator export price amounted to $15 per unit, rising by 24% against the previous year. Over the period under review, the export price posted a prominent increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Germany ($50 per unit), while Thailand ($0.3 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+11.8%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform