Growth opportunities in the Lithium-Ion Battery Market look promising over the next six years. This is mainly due to the to the increasing adoption of consumer electronics, the increasing number of R&D activities by organizations, and the benefits offered by li-ion batteries. The augmenting demand for battery-operated material-handling equipment in industries is further uplifting the growth of the market.
Lithium-Ion Battery Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The key factors subjected to the growth of the lithium-ion battery market over the forecast period include the mounting adoption of consumer electronics, the emerging number of Research and Development activities by organizations and battery manufacturers, and the phenomenal assistance offered by li-ion batteries. The increasing demand for plug-in vehicles combined with the growing need to bring automation and battery-operated material-handling equipment in industries is further uplifting the market growth. These batteries are extensively used in electronic devices like smartphones, digital cameras, and power tools.
As per the lithium-ion battery market report, rapid globalization and digitalization, followed by the rising demand for industrial goods, are creating different opportunities for the growth of the lithium-ion battery market size over the forecast period.
The flourishing number of PV installations and nuclear power plants and the launch of wind energy projects, like the New Wind Energy Project, is further promoting the growth the lithium-ion battery market share. The increasing off-grid installations, especially in China, the U.S., Germany, and Global, are flourishing the demand for lithium-ion batteries.
Type Segment Drivers
On the basis of type, the Lithium Nickel Manganese Cobalt =is projected to expand at a faster CAGR over the forecast period. This is mainly because of widening application of these batteries in many industries due to their properties like excellent stability, high level of strength, good charge, and discharge cycle. Also, the lithium-ion battery market forecast reveals that the growing use of this type of battery in smartphones, laptops, tablets, automotive, electrical storage system and power tools is expected to prosper the growth of the market.
Regional Drivers
Based on the regional coverage, the North America is expected to dominate the market over the forecast period. China, the global hub for automotive manufacturing, is experiencing an upsurge in demand for lithium-ion batteries. The accelerating production of electric vehicles and lithium-ion batteries in vehicles is further surging the growth of the market.
Lithium-Ion Battery Market’s leading Manufacturers:
- Panasonic Corporation
- GS Yuasa Corporation
- Valence Technology, Inc
- LG Chem Ltd
- Johnson Controls
- Samsung SDI Co. Ltd
- Toshiba Corporation
- BAK Group
- Hitachi Ltd.
- BYD Company Ltd
Lithium-Ion Battery Market Segmentation:
Segmentation by Type:
- Lithium Nickel Manganese Cobalt (Li-NMC)
- Lithium Iron Phosphate (LFP)
- Lithium Cobalt Oxide (LCO)
- Lithium Titanate Oxide (LTO)
- Lithium Manganese Oxide (LMO)
- Lithium Nickel Cobalt Aluminum Oxide (NCA)
Segmentation by Products:
- Cell
- Battery Pac
Segmentation by Power Capacity:
- Less Than 3,000 mAH
- 3,000 TO 10,000 mAH
- 10,000 TO 60,000 mAH
- More Than 60,000 mAH
Segmentation by Voltage:
- Low (Below 12 V)
- Medium (12 V – 36 V)
- High (Above 36 V)
Segmentation by Industry:
- Consumer Electronics
- Smartphones
- UPS
- Laptops
- Others
- Automotive
- Battery Electric Vehicles
- Plug-In Hybrid Electric Vehicles
- Aerospace & Defence
- Commercial Aircrafts
- defence
- Marine
- Commercial
- Tourism
- defence
- Medical
- Industrial
- Mining equipment
- Construction equipment
- Forklifts, automated guided vehicles (AGV), and automated mobile robots (AMR)
- Power
- Telecommunication
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