Lithium-ion Battery Market Report l Market Potential l Competitive Analysis l Report Ratings
Due to the rising demand for electric vehicles and energy storage systems (ESS), for both commercial and residential applications, the falling prices of lithium-ion batteries, and the rising sales of consumer electronics, the global lithium-ion battery market is anticipated to reach over USD 75 billion by 2027.
Lithium-Ion batteries are rechargeable batteries with a high energy density that are commonly found in smartphones, digital cameras, and tablets. It is also used as an application for energy storage in smart grids.
Lithium-Ion batteries have a long lifespan and a high energy density, making them suitable for automobile energy storage technology. As investments in electric vehicles increase, so does the demand for lithium-ion batteries. Until recently, Lithium-Ion batteries were primarily used in portable electronics, but technological advancements have increased the demand for them in medium- and large-scale applications.
As they are increasingly used to replace standard batteries, lithium-ion batteries also contribute to environmental preservation.
The need for alternative energy, rising spending on consumer electronics, and the emergence of the electric and hybrid vehicle markets are among the growth drivers of the global Lithium-Ion battery market.
By Region, Global Lithium Ion Battery Market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America
Regionally, Asia Pacific Lithium Ion Battery Market holds the largest market share due to presence of large manufacturers like China. The increasing investments in automobile manufacturing units contributes to the growth of the Lithium Ion battery market
The key players inGlobal Lithium-ion Battery Market includes Samsung SDI Co. Ltd, TESLA Inc, Panasonic Corporation, GS Yuasa Corporation, LG Chem Ltd, Hitachi Chemical Co Ltd,BYD Co, A123 Systems, Toshiba Corporation, Envision (AESC), Hitachi Maxell Ltd.,Koninklijke Philips N.V., EnerDel, Saft Batteries,Johnson Controls, Inc., ProLogium Technology Co. Ltd., Roofer Technology Co. Ltd., Energus Power Solutions,AkkuTronics New Energy Technology Co., Duracell,EaglePicher Technologies, Padre Electronics Company Ltd., Ding Tai Battery Company Ltd.,LithiumWerks and other players.
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