Lithium Battery Charger ICS Market Estimations, Competitive Landscape, Business Revenue Forecast and Statistics | Impact of COVID-19

 Market Overview: 

The global lithium battery charger ICs market is estimated to garner nearly USD 34.45 billion by 2023, states Market Research Future (MRFR) in its latest report.  It can experience 21.11% CAGR over the forecast period (2018-2023) owing to the increasing need for Li-ion batteries in smartphones and other consumer electronic devices. Popularity of wearables, hearing aids, and health diagnostic products are likely to induce the need for charger ICs which can prolong battery life.

Developments in solar-enabled lithium chargers are likely to offer up new growth avenues for the market. The Lithium Battery Charger Ics Market will capitalize on the need for renewable energy sources on the back of policies denoting the reduced dependence of fossil fuels. The industrial 4.0 revolution which encompasses industrial internet of things and connected devices is expected to be a major disruptor of the market. Use of collaborative robots in factories and industries to expedite processes and workflows is likely to facilitate market growth.

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Key Players

Eminent names in the lithium battery charger ICs market are Integrated Device Technologies Inc. (U.S.), ON Semiconductor Corporation (U.S.), ROHM Company Ltd. (Japan), Toshiba Corporation (Japan), New Japan Radio Co., Ltd. (Japan), Texas Instruments Inc. (U.S.), Maxim Integrated (U.S.), Monolithic Power Systems, Inc. (U.S.), Future Technology Devices International (FTDI) Chip (U.K.), Microchip Technology Inc. (U.S.), Analog Devices Inc. (U.S.), Holtek Semiconductors Inc. (China), Richtek Technology Corporation (Taiwan), NXP Semiconductors N.V. (The Netherlands), Shanghai Nanxin Semiconductor Technology Co. Ltd. (China), Silergy Corporation (China), Vishay Intertechnology, Inc. (U.S.), TOREX Semiconductor Ltd. (Japan), Diodes Incorporated (U.S.), Active-Semi, Inc. (U.S.), STMicroelectronics N.V. (Switzerland), and Intersil Corporation (U.S.).

Global Lithium Battery Charger ICs Market – Segmentations

The lithium battery charger ICs market is segmented by charger type, appliance, and end-user.

By charger type, switching battery chargers dominated the market in 2017 with a value of USD 3.37 billion. They are well-known for their rapid charging capacity. The unique combination of switching frequency, circuit layout, and component selection can reduce electrical noise in these chargers. They are used in multi-cell and high-power batteries in smartphones, notebooks, and tablets. In 2015, Texas Instruments had designed a charger which can reduce the charging period by 60%. The segment can accrue USD 9,279.3 million for the market by 2023. On the other hand, SMBus/I2C/SPI controlled battery chargers can exhibit 25.66% CAGR over the forecast period to generate USD 3,168.7 million by 2023.

By appliances, small appliances dominated the market with USD 4.05 billion in 2017. The segment can generate revenue close to USD 10,550.8 million by 2023. This can be attributed to increasing use of battery chargers in mobile phones, power banks, and digital cameras. On the other hand, gardening tools can grow at 24.30% CAGR over the forecast period. Maintenance of lawns and gardens by consumers is likely to spur the segment growth.

By end-user, consumer electronics had dominated the lithium battery charger ICs market in 2017 with a value of USD 5.62 billion. Charger ICs which can work on DC and AC power sockets coupled with adoption of consumer electronic products can boost the segment value to USD 15,570.5 million by 2023. It is touted to exhibit 19.93% CAGR during the forecast period. Automotive, on the other hand, is likely to exhibit 23.72% CAGR. Emergence of electric, hybrid, and plug-in hybrid vehicles is expected to facilitate segment growth.

Global Lithium Battery Charger ICs Market – Regional Analysis

Region-wise segmentation of the lithium battery charger ICs market includes North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).

North America generated USD 4.10 billion in 2017 and expects to exhibit 21.32% CAGR over the forecast period to reach USD 12,225.9 million by 2023. This can be attributed to presence of noteworthy players and investments by companies to enhance the charging capacities of Li-ion batteries.

Europe generated USD 1.79 billion in 2017 and expects to exhibit 17.89% CAGR during the assessment period. The inclination towards clean energy generation and reducing the dependence on fossil fuels is likely to accelerate the development of electric and hybrid vehicles. Germany is expected to be the biggest driver of the Europe lithium battery charger ICs market owing to presence of various automotive behemoths. The region can accrue close to USD 978.87 million by 2023. APAC is projected to generate revenue at 23.11% CAGR. RoW can grow at 14.30% CAGR

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