Lithium-Ion Battery Market Flourishes Due To Growing Need And Advancements In Smart Phones
Lithium-ion Battery are a part of rechargeable battery group.
Lithium-ion batteries offer high storage capacity, better efficiency
and long lifecycle than other batteries. The demand for these
batteries are increasing in various applications such as consumer
electronics products, automotive application such as EVs and HEVs and
energy storage systems in power plants and household electricity.
Growing Use of Low Power Capacity Lithium-ion Batteries in
Consumer Electronics
In terms of application, the lithium-ion battery market can be
segmented into consumer electronics, automotive, and grid energy and
industrial. Consumer electronics is projected to be the leading
segment of the global lithium-ion battery market during the forecast
period. This segment is anticipated to account for nearly half the
market by 2024, driven mainly by the rising demand for low power
capacity lithium-ion batteries to be used in smartphones.
However, owing to market saturation in several regions, the demand
for high power capacity batteries for automobiles has gained
precedence. The automotive segment will gain a significant share in
the lithium-ion battery market by the end of 2024. The rising usage
of these batteries in EVs, HEVs, and BEVs has primarily boosted this
segment and this surge can be attributed to the increasing level of
awareness among consumers and automobile manufacturers alike
regarding the benefits of clean fuel.
PDF Sample For Latest Innovation And Technological Breakthroughs @
http://bit.ly/2d5oN1Z
Based on power capacity, the lithium-ion battery market can be
segmented into 5–25 Wh, 48–95 Wh, 18–28 KWh, 100–250
KWh, and more than 300 KWh. In terms of value, 5–25 Wh lithium-ion
battery, which is primarily used in smartphones, is estimated to be
the leading segment of the lithium-ion battery market during the
forecast period, accounting for a share of more than 30% in 2015. The
18–28 KWh power capacity segment is projected to be a rapidly
growing segment through 2024, owing to the high demand for electrical
vehicles in the automotive sector.
Lithium-ion Battery Market: Snapshot
The lithium-ion battery market is expected to expand significantly
during the forecast period, as these batteries offer advantages such
as higher efficiency and longer lifespan vis-Ã -vis other batteries.
Rapid growth in the consumer electronics industry and a rising shift
toward sustainable clean fuels in the automotive sector are expected
to drive the lithium-ion battery market in the coming years. The
growing adoption of lithium-ion batteries in energy storage systems
such as solar grids in household and industrial applications is
anticipated to provide considerable growth opportunities to the
market. However, the lack of awareness regarding the benefits of
these batteries and the high cost compared to traditional lead acid
batteries may hamper the growth of this market.
The global lithium-ion battery market was valued at US$29.68 bn in
2015 and is projected to reach US$77.42 bn by 2024, expanding at a
CAGR of 11.6% therein.
Browse Full Press Release @
http://www.transparencymarketresearch.com/pressrelease/lithium-ion-battery-market.htm
Capacity-wise, North America to Hold Significant Share in
Lithium-ion Battery Market
The lithium-ion battery market in Asia Pacific is expected to expand
significantly during the forecast period due to the increased demand
for these batteries in portable consumer electronic devices. China is
anticipated to be the leading market for lithium-ion batteries in
Asia Pacific as well as across the globe owing to the ever-rising
population and high economic growth in the country. Major global
leaders of lithium-ion batteries are concentrated in China, Japan,
and South Korea.
North America holds a significant share in the lithium-ion battery
market in terms of capacity. Increasing awareness about the benefits
of lithium-ion batteries in the region has augmented the usage of
these batteries as an alternate fuel in transportation. Major global
players focus on the mass production of lithium-ion batteries in
order to achieve lower costs and increase their market penetration.
The lithium-ion battery market in Europe and the Middle East and
Africa offers a positive outlook for the automotive segment as the
consumer electronics segment in many regions is about to reach
saturation.
Major players operating in the lithium-ion battery market include GA
Yuasa Corporation, Automotive Energy Supply Corporation (AESC),
Panasonic Corporation, Hitachi Chemical Co. Ltd., Johnson Controls,
Inc., Samsung SDI Co. Ltd., LG Chem Power, Inc., and Toshiba
Corporation.
Lithium-ion Battery Market – Power Capacity Analysis
5–25 Wh
48–95 Wh
18–28 KWh
100–250 KWh
More than 300 KWh
Lithium-ion Battery Market – Application Analysis
Consumer Electronics
Automotive
Grid Energy & Industrial
No comments: