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?GR 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.
The expansion of the lithium battery charger ICs market can be accredited to the mounting demand for smart devices, and additional consumer electronic products are likely to drive the market volume until 2023. Even the fast charging speed and low self-discharge are also the key driving factors for the adoption of lithium battery charger ICs solution at present. Li-ion battery charger ICs are known for programming to control the voltage and ensures the safety of the device by preventing it from surpassing the expected threshold voltage. Therefore, the emergence of electric and hybrid electric vehicles is the rising trend, which can influence the demand for charger ICs.
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The eminent names in the lithium battery charger ICs market are listed as Holtek Semiconductors Inc. (China), Analog Devices Inc. (U.S.), Maxim Integrated (U.S.), Future Technology Devices International (FTDI) Chip (U.K.), Shanghai Nanxin Semiconductor Technology Co. Ltd. (China), Richtek Technology Corporation (Taiwan), Monolithic Power Systems, Inc. (U.S.), NXP Semiconductors N.V. (The Netherlands), Microchip Technology Inc. (U.S.).
Other names such as Toshiba Corporation (Japan), ON Semiconductor Corporation (U.S.), ROHM Company Ltd. (Japan), New Japan Radio Co., Ltd. (Japan), Integrated Device Technologies Inc. (U.S.), Texas Instruments Inc. (U.S.) have also contributed to the market’s growth.
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?GR 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?GR 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?GR during the forecast period. Automotive, on the other hand, is likely to exhibit 23.72?GR. Emergence of electric, hybrid, and plug-in hybrid vehicles is expected to facilitate segment growth.
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?GR 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?GR 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?GR. RoW can grow at 14.30?GR
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