Market Overview
Lithium-ion batteries are rechargeable and have a good life
cycle with features like high energy density, better performance and higher
reliability. The lithium-ion battery is a great option for advanced devices
that enhance the market. Lithium-ion batteries are highly used in various
appliances and electronics industries such as energy and power, automotive, and
other sectors. The higher demand from the consumer electronics and automotive
sectors are propelling the share value of the Lithium
Battery Charger ICs Market for a significant growth rate.
The COVID-19 pandemic has resulted in the shutdown of IC
charger lithium battery manufacturing facilities worldwide. The huge revenue
losses in end-use industries such as consumer electronics, energy & power,
automotive, and others have resulted in a decreased growth rate. The
coronavirus- lockdown halted the production of raw materials in the global
market, which affected the production of lithium battery charger ICs.
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However, the Lithium Battery Charger ICs Market is
expected to recover from the loss in the coming years due to players actively
looking for increasing application areas of lithium battery charger ICs.
Lithium Battery Charger ICs Market is expected to reach a
valuation of USD 36 Billion by 2030, registering a 22.2% CAGR over the forecast
period (2020-2030).
Market Segmentation
The Lithium Battery Charger ICs Market is
fragmented into major segments: Charger Type, Appliance, and End-User.
The charger type is segmented into switching battery chargers,
pulse battery chargers, SMBus/I2C/SPI controlled battery chargers, linear
battery chargers, µModule battery chargers, buck/boost battery chargers. The
switching battery chargers segment is the dominating segment in terms of share.
The appliance segment is divided into major segments such as
power tools, gardening tools, vacuum cleaners, small appliances, and others.
The small appliances segment is the leading segment with a good market share.
The end-user segment of the Lithium Battery Charger ICs Market is
divided into consumer electronics, energy and power, automotive, and others.
Consumer electronics is the largest segment among the end-users. The automotive
segment is also showing a significant growth rate.
Regional Analysis
North America was the market leader in past years and will
maintain its growth during the forecast period. The regional market is emerging
due to the demand for Li-ion batteries for smartphones and other consumer
electronic devices, which increased the consumption and sales of lithium-ion
battery charger ICs.
Europe is the second-largest share of the global market due to
the rise in clean energy generation and core focus on reducing the usage of
fossil fuels which will accelerate the lithium battery charger ICs market share
in the region.
The APAC region is occupying a considerable share in the
global market due to the inclination towards renewable energy projects
development. The presence of chief industrial players will propel the lithium
battery charger ICs market growth in the region. Moreover, the growing
investments by semiconductor industries will enhance the demand for Li-ion
batteries increase the size of the regional market.
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Industry News
On November 18, 2020 – Maxim Integrated Products, Inc.
introduced Industry's First Li+ Fuel Gauge IC - MAX17320 with continuous
internal self-discharge monitoring and protection. MAX17320 extends run-time on
multi-cell battery-powered products and also monitors against self-discharge
hazards. MAX17320 2 to 4 series cell Li-ion fuel gauge IC is the first for
monitoring self-discharge during operation while extending battery life with
the highest accuracy and lowest quiescent current.
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