In a recent published report, Kenneth Research has updated the market report for Lithium Battery Charger Ics Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Lithium Battery Charger Ics Market products.
The Lithium Battery Charger Ics Market is estimated to record a significant growth throughout the forecast period. The ICT sector constitutes 4.8% of the European economy. Europe’s organization ERDF i.e. European Regional Development Fund has allotted approximately USD 23 billion for investments related to ICT during the funding period 2014-2020. ICT refers to the communication technologies including the internet, wireless networks, social networking, cell phones, video-conferencing, computers, software, and other media applications and services enabling users to access, retrieve, and manipulate information in a digital form.
The capabilities of smart technology have paved the way for the adoption of portable and wearable electronic devices. The growing demand for smartphones, laptops, notebooks, and tablets requiring efficient chargers is driving the lithium battery charger IC market. Also, various medical products such as fitness bands, hearing aids, and diagnostic monitoring patches are being sold as wearable devices, which further fuels market growth. The increasing popularity of electric cars in countries such as China and Japan are also a key factor driving market growth in Asia-Pacific. Moreover, as the Internet of Things (IoT)-enabled devices become compact in size, the battery life becomes a key differentiator in IoT-powered devices.
The increasing demand for consumer electronic products using lithium-ion batteries as a primary power source also triggers the growth in the lithium battery charger IC market. Furthermore, lithium batteries are majorly used to power electronic devices such as power tools, remote controls, video game systems, smart appliances, smart TVs, and household devices.
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The increasing adoption of automated guided vehicles, collaborative robots, automated warehouse robots, welding robots, painting robots, assembly robots, palletizing robots, and product inspection robots using lithium batteries for their power source is fueling the growth in the lithium battery charger IC.The global lithium battery charger IC market, by type, has been sub-segmented into linear battery chargers, switching battery chargers, µModule battery chargers, pulse battery chargers, SMBus/I2C/SPI controlled battery chargers, buck/boost battery chargers. Switching battery chargers are likely to gain significant demand in the forthcoming years as they provide high efficiency and lower power dissipation over a wide range of input and battery voltage which allows the use of smaller and cheaper AC adapters.The growing demand for smart devices and other consumer electronics products and increasing demand of industrial robotics are some of the major factors driving the market growth in the coming years. Whereas, security concerns due to overheating of lithium-ion batteries is expected to hamper the market growth in the coming years.
In January 2018, TOREX Semiconductor Ltd launched the XC6806 series of charging ICs for single-cell lithium-ion/polymer secondary batteries. These ICs can control battery charging and control systems and has a shutdown function, which disables power sully from batteries to devices. Moreover, these ICs can suppress current leakage from batteries when devices are not in use.The global lithium battery charger ICs market was valued at USD 11.71 billion in the year 2017, which is expected to reach USD 34.45 billion by the end of the forecast period growing at ~21.11% CAGR.
The key players of the global lithium battery charger ICs market include Vishay Intertechnology, Inc., STMicroelectronics NV, Microchip Technology Inc., ROHM Company Ltd, TOREX Semiconductor Ltd, Future Technology Devices International (FTDI) Chip, Diodes Incorporated, ON Semiconductor Corporation, Intersil Corporation (Acquired by Renesas Electronics), Monolithic Power Systems, Inc., Active-Semi, Inc., Shanghai Nanxin Semiconductor Technology Co. Ltd, Richtek Technology Corporation, Texas Instruments Inc., Analog Devices Inc., NXP Semiconductors NV, Integrated Device Technologies Inc., Toshiba Corporation, New Japan Radio Co., Ltd, Maxim Integrated (MI), Silergy Corporation, and Holtek Semiconductors Inc.
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Global Lithium Battery Charger ICs Market Analysis & Forecast, from 2017 to 2023
• To provide detailed analysis of the market structure along with forecast for the next six years of the various segments and sub-segments included in global Lithium Battery Charger ICs market with analysis of its development and demand in the market
• Upcoming technologies, high growth geographies, and countries were identified
• Regional and country-specific demand and forecast for Lithium Battery Charger ICs were studied
• Key segments covered in the report are charger type, appliances, and end-user.
• Unit breakdown for all different classification was finalized and the same was referred for forecasting, keeping few assumptions into factor
• For all the regions, forecast demand for all applications was identified and then with historical figure, data collected through primary and annual reports were triangulated to derive the regional market size
• Historical trend is identified to forecast and estimate the future value data
• Raw material suppliers
• IC manufacturers
• Batteries manufacturers
• System integrators
• Technology investors
• Smartphone manufacturers
• Research Institutes
• Suppliers and Distributors
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- The global lithium battery charger ICs market is expected to reach USD 34.45 billion by 2023.
• By charger type, switching battery chargers segment accounted for the largest market share and is expected to register approximately 19.75% CAGR during the forecast period.
• By appliances, small appliances sub-segment holds the largest market, registering approximately 18.71% CAGR by the end of the forecast period.
• Geographically, Asia-Pacific has been projected to have the largest market share in global lithium battery charger ICs market followed by North America, while Europe has been projected to show positive growth in lithium battery charger ICs market.
Regional and Country Analysis of Lithium Battery Charger ICs Market Estimation and Forecast
The global Lithium Battery Charger ICs market is expected to grow at a considerable rate during the forecast period, 2016–2022. Asia-Pacific is expected to show the highest growth in the lithium battery charger IC market as big companies are investing in various projects and initiatives, for example, Tesla invested in South Australia renewable project, which uses the world biggest lithium battery. Such investments result in increasing demand for cost reliable and efficient lithium battery charger ICs. North America is the second largest contributor to the growth of lithium battery charger ICs market due to the presence of key players such as Microchip Technology Inc., ON Semiconductor Corporation, Analog Devices Inc., and Maxim Integrated Products Inc. These companies are innovating technologies to make cost-efficient and safe battery charger ICs. Whereas Europe is expected to show significant growth in the lithium battery charger IC market, as Germany is contributing significantly to the manufacturing of electric vehicles; also, Germany is investing in clean energy generation which uses lithium batteries to store generated energy due to which they are implementing technological advancements in lithium battery charger ICs for fast, efficient, and low input voltage charging from solar and wind power sources.
The reports also cover country-level analysis:
- North America
o Rest of Europe
o Rest of Asia-Pacific
• Rest of the World
o The Middle East & Africa
o Latin America
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