Growing Electric Vehicle Production and Demand Driving Automotive Lithium-Ion Battery Market

In 2018, the global automotive lithium-ion battery market reached a value of $24.2 billion and is predicted to attain $74.3 billion in 2024, advancing at a 15.9% CAGR during the forecast period (2019–2024). The market is growing due to the falling cost of battery and its components and rising electric vehicle production and demand. A rechargeable battery which comprises a positive and negative electrode that are contacted by a chemical called the electrolyte is referred to as lithium-ion battery. Lithium-ion is allowed to exchange between electrodes because they are separated by a separator.

In terms of battery type, the automotive lithium-ion battery market is divided into lithium iron phosphate (LFP), lithium nickel cobalt aluminum oxide (NCA), lithium titanate oxide (LTO), lithium manganese oxide (LMO), and lithium nickel manganese cobalt (NMC).  Among these, the LFP battery type contributed the largest revenue share to the market during the historical period (2014–2018), as these batteries are safer than other type of electric vehicles batteries and have a higher lifespan. The NCA battery type is projected to grow at the fastest pace during the forecast period.

The rising usage of NMC batteries in electric cars is a key trend that is being observed in the automotive lithium-ion battery market. While before a large number of electric vehicle manufacturers made use of LFP batteries, in the recent years, the usage of NMC batteries has increased significantly. This shift from LFP to NMC batteries is due to the rising requirement for higher range in passenger cars from a single charge. In addition to this, these batteries are lighter than LFP batteries and occupy lesser space in the vehicle.

When vehicle type is taken into consideration, the automotive lithium-ion battery market is categorized into commercial vehicle, two-wheeler, and passenger car. Out of these, the passenger car category accounted for the largest share of the market in 2018 and is expected to dominate the market during the forecast period as well, in terms of value. This is because the governments in major automobile selling countries, including the U.S. and China, are focusing on producing new energy cars and increasing requirement for fully electric passenger cars with high-range per charge feature.

The surging electric vehicle demand and production is a key driving factor of the automotive lithium-ion battery market. As per the International Energy Agency, the global electric car fleet exceeded 5.1 million in 2018, rising from 2 million in the previous year. Factors such as the rising concerns regarding the environment and fluctuating oil prices are driving the consumers toward alternative to internal combustible engine-powered automobiles. Furthermore, lithium-ion batteries are being considered the standard for modern battery electric vehicles at the present time, as they have excellent specific capacity and energy density.

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Another factor resulting in the growth of the automotive lithium-ion battery market is the falling cost of battery and its components. The prices of lithium-ion battery components, including battery management system, internal wiring, pack housing, internal wing, and pack housing, are reduced considerably and are further projected to decrease in the coming years, thereby making lithium-batteries more suitable and affordable. In addition to this, several automobile companies are investing heavily into pack assembly, which is further making the battery makers to offer lower prices in order to increase their sales.

Hence, the market is witnessing growth due to the rising demand and production of electric vehicles and the falling prices of lithium-ion battery and its components.

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Asia-Pacific (APAC) Low-Speed Electric Vehicle Market Growing Steadily

Automobiles emit heavy amounts of greenhouse gases, which leads to air pollution. This, in turn, raises the overall temperature and results in climate change. In addition, the toxins in vehicle exhaust are also harmful to humans, as these cause severe diseases, such as lung cancer and chronic obstructive pulmonary disease (COPD). Therefore, to limit carbon emissions and make the world greener, governments across the world are banning fossil fuel-run vehicles and offering incentives and other forms of financial support for the manufacturing and purchase of electric automobiles, including those classified as low-speed electric vehicles (LSEV). As the need to reduce air pollution is especially dire in Asia-Pacific (APAC), the region is witnessing rapid adoption of LSEVs.

APAC LSEV Market

By 2025, the APAC LSEV Market is expected to witness a sale of 71.8 million units, which would be an increase at a CAGR of 6.6% from 2018. Among two-, three-, and four-wheelers, two-wheelers have been the most popular LSEVs up till now, and the situation is expected to be the same through 2018–2025. The major factor responsible for this is their affordability, compared to larger automobiles. Battery costs account for a major portion of electric two-wheelers’ purchase price, and as the component, specifically lithium-ion (Li-ion) battery, is becoming cheaper, the sale of such vehicles is also rising. Technological advancements and a rapid shift to Li-ion batteries from sealed lead–acid (SLA) variants are also helping in this regard.

Similarly, electricity-driven four-wheelers, primarily micro-cars, are also gaining rapid popularity across the region. China and India are witnessing swift urbanization, which is bringing more vehicles on the roads. This is leading to traffic congestion, which often takes the form of 2–3-mile long traffic jams. As per the World Bank, already 57% of the Chinese population was living in urban areas in 2016. In order to reduce traffic congestion as well as pollution levels, e-micro-cars are being promoted by regional governments, as they are quite compact and lead to no emissions.

Three-wheelers are also quite significant in India, China, and Thailand, from the point of mass transit. As not everyone can afford a scooter, motorcycle or car in these countries, a large number of people still commute by auto-rickshaws, which also leads to air pollution and traffic congestion. As electric three-wheelers are more expensive than conventional models, the government as well as manufacturers are increasing their investments to make them cheaper. For instance, subsidies in the range of $370 (INR 25,000)–$910 (INR 61,000) is offered in India under the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME) scheme.

Within APAC, China witnessed the highest adoption of LSEVs in 2017, due to the earliest introduction of the concept in the country and government support. During the forecast period, the APAC LSEV market growth in India would be quite significant. This would be primarily due to the swiftly rising prices of gasoline, which would help shift the inclination of a large number of people toward electric vehicles, primarily three- and two-wheelers. Additionally, as e-rickshaws are faster and can carry more people, compared to pedal rickshaws, short-distance mobility service providers are rapidly replacing their conventional vehicles with electric variants. Further, these can be driven for considerable distances with a single full charge.

Therefore, as an increasing number of people realize the dangers of fossil fuel-based vehicles to the environment and themselves, the sale of low-speed electric vehicles would continue surging in APAC.

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Cleanroom Technology Market Progressing at a 5.7% CAGR During the Forecast Period

The favorable healthcare regulations, rapid developments in technology, and surging prevalence of infectious diseases are some of the key factors responsible for the growth of the cleanroom technology market. In 2016, the market attained a size of $3.4 billion, and it is expected to generate a revenue of $5.0 billion by 2023, progressing at a 5.7% CAGR during the forecast period (2017–2023).

The atmosphere in pharmaceutical laboratories is quite sensitive to contamination by airborne particles, so it is important to keep the place pollutant-free, therefore there is a need for cleanroom technology. Geographically, in 2016, North America registered the dominating revenue share of more than 35.0% in the cleanroom technology market, followed by Europe, Asia-Pacific, and rest of the world. On the country level, the U.S., Germany, and Japan are the top three nations that are together predicted to contribute the highest revenue to the market during the 2017–2023 period.

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This is ascribed to the presence of a huge number of research laboratories, which is further leading to the high production of drugs. Further, infectious diseases, such as Lyme disease, tuberculosis, and salmonella disease, are caused by pathogenic microorganisms, including viruses, bacteria, fungi, and parasites, which spread indirectly or directly from one person to another or can be passed through animals to humans. As per the World Health Organization, in 2015, nearly 10.4 million people suffered from tuberculosis and around 1.8 million died from it.

HEPA filters absorb nano-sized toxic compounds and improve the filtration process, which reduces the time taken for purifying the area. Additionally, the presence of modular cleanrooms, which are enclosed structures equipped with all devices, is expected to surge the production of cleanrooms, globally. In addition, customized cleanrooms are rapidly gaining popularity in the cleanroom technology market. Pressure, temperature, electrostatic charge, humidity, and magnetic flux can be modified as per customers’ need in a customized cleanroom. These cleanrooms are essential for research and development activities in the medical device, pharmaceutical, and biotechnology sectors.
  
Hence, the surging incidence of infectious diseases, technological advancements, and growing demand for customized cleanrooms are driving the growth of the market.

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Fibrin Glue Market is Projected to Grow During the Forecast Period

The fibrin glue market is projected to grow during the forecast period, at a CAGR of 10.9% owing to the surging number of burn cases and surgical procedures and increasing healthcare expenditure. In addition, the growing prevalence of chronic diseases, increasing geriatric population, and rising road accidents are supporting to market advance. Fibrin glue is a kind of tissue adhesive extracted from a human or animal source, which is primarily used for healing wounds, coagulating the blood, tackling hemorrhage, and sealing tissues.

On the basis of application, the fibrin glue market is broadly categorized into general, vascular, cardiac, and pulmonary surgery. Out of these, during the historical period (2013–2016), the cardiac surgery category dominated the market in terms of revenue, and it is predicted to maintain its dominance during the forecast period. This is attributed to the rising incidence of cardiovascular diseases across the globe, which is further leading to the increasing number of cardiovascular surgical procedures. Cardiac surgery includes surgical treatment for different heart diseases.

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As per the American Heart Association, in the U.S., nearly 85.6 million people are suffering from cardiovascular diseases. Further, the growing healthcare spending is being witnessed as the key factor driving the growth of the fibrin glue market. The healthcare expenditure includes the public and private spending on medical goods and services, public health and prevention programs, and administration. As per the Centers for Disease Control and Prevention (CDC), in the U.S., in 2014, the total health expenditure was $3.0 trillion and the per capita national health expenditure was $9,523.

According to a report of the U.K. Office for National Statistics (ONS), in 2014, the total healthcare expenditure stood at $297.8 billion. Owing to the changing lifestyle and poor availability of care, the prevalence of chronic diseases and lifestyle-associated diseases, such as respiratory diseases, cancer, and heart diseases, is rising, leading to the surging volume of surgeries, which, in turn, is resulting in the growth of the fibrin glue market. As per the CDC, in 2012, around 117.0 million people in the U.S. were diagnosed with one or more chronic health conditions.

Similarly, as per the International Agency for Research on Cancer, in 2008, approximately 12.7 million new patients were diagnosed with cancer, and the number is predicted to reach 21.4 million by 2030. Fibrin glue is consumed in many surgeries, such as wound closure, bronchial fistulas, corneal transplantation, laparoscopic liver biopsies, spine surgery, and pterygium surgery. As per the World Bank, in 2012, 30,537 surgeries were performed per 100,000 population in the U.S. Further in 2015, in Australia, the total number of surgical procedures performed was 28,907 per 100,000 population.

Hence, the growing number of surgical procedures and increasing healthcare expenditure are among the significant factors boosting the growth of the market.

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India Automotive HMI Market Will Generate Massive Revenue in Future

The major factors behind the India automotive human machine interface (HMI) market growth are rising sales of passenger car, increasing in-vehicle connectivity, and growing demand for comfort and in-vehicle safety features. The market generated a revenue of $466.9 million in 2017, and it is predicted to reach $1.0 billion by 2023, witnessing a CAGR of 14.1% during the forecast period 2018–2023, according to P&S Intelligence. Automotive HMI includes multiple system that permits drivers to interact with their vehicles. It works with the human touch, voice commands, and body language.

Based on product, the Indian automotive HMI market is classified into touch screen display, instrument clusters, head-up display (HUD), rear seat entertainment display (RSE) units, steering mounted controls, and multifunction switches. Out of these, during the historical period (2013–2017) the steering mounted controls classification held the largest sales volume share in the market and it is expected to continue leading in terms of sales volume during 2018-2023. However, the HUD classification is predicted to register fastest growth in terms of revenue in the market, owing to its increasing usage in premium cars.

On the basis of access, the automotive HMI market in India is bifurcated into standard and multimodal HMI. Of two, standard HMI access dominated the market in terms of sales volume and is anticipated to further continue do so during the forecast period, owing to the cost-efficiency factor of these HMIs over the multimodal ones. However, multimodal HMI access is predicted to witness faster growth in terms of revenue, due to surging demand for comfort and premium features in passenger cars.

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Benefits associated with multimodal HMI, such as better recognition and faster interaction, are expected to increase their penetration in passenger cars. Further based on end-use, the Indian automotive HMI market is categorized into economy, medium, and premium cars. Due to the rising HMI deployment in medium car category, these cars held the largest sales volume share in the market and is forecasted to maintain its lead during 2018–2023. However, the premium car category is anticipated to register fastest growth in terms of both value and sales volume, owing to their growing sales.

Nowadays, people want to be in touch with the world even while travelling. In the near future, automobiles with the cloud services would majorly connect with the outer world. With the changing customer preferences, automotive makers through collaborations with consumer electronic or IT vendors are installing in-vehicle connectivity features in the infotainment systems. For instance, Reliance Jio Infocom Ltd, a telecom company in India, tendered a contract to the U.S. based AirWire Technologies, for the production of connected car device to integrate in the passenger cars.

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Also, Reliance Jio Infocom Ltd is having a discussing with Maruti Suzuki India Ltd and Hyundai Motor India, the leading car manufacturers, to install this device in their passenger cars. Passenger cars equipped with these devices will offer services such as entertainment, Wifi hotspot, telematics, location-based apps, and other security and safety services to the user. Surging in-vehicle connectivity would head to the escalated adoption of HMIs to provide the information, and help in easier users’ interaction with the system, thereby gaining the Indian automotive HMI market.
Hence, the growing use of in-vehicle connectivity and the increasing sale of passenger cars are supporting the market progress.

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Molecular Biology Kits & Reagents and Enzymes Market to Display Significant Growth During Forecast Period

The molecular biology kits and reagents and enzymes market is growing due to increasing geriatric population, increasing prevalence of infectious diseases, and growing cases with genetic disorders. In addition, increasing healthcare expenditure resulting in improvement in research activities is further driving the market growth.

On the basis of application, the molecular biology kits & reagents and enzymes market is broadly categorized into cloning, epigenetic, sequencing, and PCR. Out of these, during 2012–2015, the PCR category led the market in terms of value, and it is expected to continue leading it during the forecast period, owing to the massive endowments for stem cell research and rising prevalence of infectious diseases in the elderly. PCR offers millions of copies of a particular part of DNA, thus, helping escalate the amount of useful DNA data for research.

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Increasing life expectancy is one of the major causes of the rising geriatric population. The elderly need extensive care, owing to their longer recovery time, low immunity level, and susceptibility to chronic diseases, including cancer, neurological disorders, diabetes mellitus, and atherosclerosis. Due to the increasing prevalence of such diseases, the demand for therapies and diagnosis is rising, thereby leading to the growth of the molecular biology kits & reagents and enzymes market. According to the United Nations Department of Economic and Social Affairs, the number people aged 60 years or above is escalating at a significant rate.

This population is predicted to surge by 56.0% globally, i.e. from 901 million in 2015 to 1.4 billion by 2030 and more than double after 2015 to reach 2.1 billion by 2050. The surging elderly population in Germany, the U.S., China, and India is projected to create a high demand for molecular biology enzymes, kits and reagents, which, in turn, would result in the growth of the molecular biology kits and reagents and enzymes market.

Furthermore, due to the rapid growth in the number of people suffering from cancer and infectious diseases, the demand for such products is on the rise. The prevalence of acquired immune deficiency syndrome, hepatitis C, and healthcare-associated infections is expected to grow during the forecast period owing to poor lifestyle and lack of access to preventive care. In 2014, in the U.S., as per the American Cancer Society, nearly 484,340 new cases of cancer were registered in people aged 65 years and above.

Thus, the rising incidence of cancer and infectious diseases and surging geriatric population are contributing to the growth of the market.

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Automotive Fuel Injection System Market - Industry Development, Growth and Demand Forecast

An automotive fuel injection system is an integration of different components including the fuel pump, injectors, fuel rail, regulators, computers, sensors and others. The function of a fuel injection system is to spray fuel as fine droplets depending on the airflow inside the engine. The system helps optimum utilization of fuel by the engine. Increasing automotive sales, surging vehicle electrification, upsurge in the implementation of environmental regulations and growing adoption of advance automotive technologies such as automatic transmission and gasoline direct injection are expected to positively contribute to the growth of the global automotive fuel injection system market.

Stringent emission control norms are expected to drive demand for automotive fuel injection system over the forecast period. Due to government regulations in Europe, the average emission level of new cars reduced by 160 gram per kilometer (g/km) during 2006-2012. The regulation also requires reducing the emission levels from new cars to 95 g/km till 2020. Such stringent regulation has resulted in extensive use of fuel injection system by automobile manufacturers.

Among the various components of automotive fuel injection system, the engine control unit (ECU) held the largest share in the global automotive fuel injection system market in 2015 in terms of value. The consumption of automotive fuel injection system was the largest in passenger car segment in 2015, compared to other vehicle types. Based on fuel type, the market of automotive fuel injection system in diesel vehicles has been larger than gasoline vehicles in terms of volume. Whereas in terms of value, the market of automotive fuel injection system in gasoline vehicles has been larger than diesel vehicles.

The global automotive fuel injection system market was valued at $59,588.3 million in 2015, and it is expected to grow at a CAGR of 7.9% during the forecast period. Asia-Pacific has been the largest market for automotive fuel injection system market, accounting 48.7% of the global market in terms of value in 2015. The major reason behind the growth of the market in the Asia-Pacific is the increased vehicle production and strict emission norms. The production volume for passenger car and light commercial vehicles (LCV) in Asia-Pacific accounted for more than 50% of the global production.

In 2015, Europe was the second largest market for automotive fuel injection systems in terms of value. Improving economic conditions, coupled with the increasing emission standards, is expected to boost the fuel injection system market in Europe.

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North America is expected to be the third largest automotive fuel injection system market during the forecast period, owing to its increasing customer base and high disposable income of people in the region. This has resulted in increased manufacturing activities by local automotive OEMs in the region, and supporting the growth of the automotive fuel injection system market.


Some of the major players operating in the global automotive fuel injection system market include Continental AG, Robert Bosch GmbH, Denso Corporation, Delphi Automotive PLC, Hitachi, Ltd., Magna International Inc., Mikuni Corporation, Johnson Electric, and SHW AG.

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