Lithium-ion Battery Market Size and Growth Rate:
Lithium-ion Battery Market size is expected to grow at a CAGR of 11.6% between 2016 and 2024, with an estimated value of USD 29.68 billion in 2015 and is expected to reach USD 77.42 billion by the end of 2024.
The Lithium-ion Battery Market is expected to grow considerably during the forecast period, as these batteries offer advantages, for example, higher productivity and longer life compared to different batteries. It is expected that the rapid development in the consumer electronics sector and the growing trend towards clean renewable energies in the automotive sector will increase the market for lithium-ion battery in the coming years.
Lithium-ion Battery Market Drivers and Restraints:
The increasing popularity of lithium-ion battery in energy storage devices, such as solar panels in industrial and domestic applications, is expected to provide ample opportunities for market development. In any case, less awareness of the advantages of these batteries and the high cost of contrast compared to traditional lead-acid batteries can hinder the development of this market. Due to market saturation in some regions, interest in high-capacity vehicle batteries has increased.
Lithium-ion Battery Market Regional Analysis:
The lithium-ion battery market in Asia-Pacific is expected to expand substantially in the coming years due to the growing interest in consumer electronic devices for these batteries. China is expected to be the largest market for these batteries in Asia-Pacific and worldwide, which can be inferred from the sustained growth of the population and the country's financial development.
North America has a notable offer in the market with respect to capacity. The increased awareness of the benefits of lithium-ion battery in the region has increased the use of these batteries as an alternative fuel in transportation. The market in the Middle East, Africa, and Europe offer an inspiring vision for the automotive segment, as the consumer electronics segment in many regions will reach saturation.
Some of the Promising Companies leading the Lithium-ion Battery Market:
- CBAK Energy Technology, Inc
- GS Yuasa International Ltd
- Hitachi, Ltd.
- LG Chem
- Lithium Werks BV
- Panasonic Corporation
- Renault Group
- SAMSUNG SDI CO.,LTD.
- Toshiba Corporation
- Wanxiang Group Corporation
This research report includes following segmentation for the Lithium-ion Battery Market Size and forecast until 2024
Lithium-ion Battery Market – By Material:
- Electrolytic Solution
Lithium-ion Battery Market – By Industrial Sectors:
- Smart Grids
Lithium-ion Battery Market – By Automotive Sector:
- Electric bicycles and electric scooters
Lithium-ion Battery Market – By Application:
Lithium-ion Battery Market – By Consumer Sector:
- Uninterruptible power supplies (UPS)
- Mobile phones and tablets.
Lithium-ion Battery Market – By Geographical Segmentation:
- North America
- United Kingdom
- South Korea
- Latin America
- Middle-East & Africa
Key Takeaways from Lithium-ion Battery Market Report:
- For different Devices types, and applications offers calculated growth rates (CAGR %), Volume (Units), and Value ($M) in each region to estimate the Lithium-ion Battery Market potential.
- Identify various driving factors, constraints and untold opportunities that can impact the Lithium-ion Battery Marketplace
- Know the position of your competitor based on the market shares, financial performance, strategical approaches, SWOT, product benchmarking and so on.
- Increase overall revenue by understanding the geographical impact on sales and distribution channels.
- Evaluate the increase in values at each step of the industry supply chain to improve process efficacy and optimize the value.
- Understand the market dynamics of leading players like deals, partnerships, new products, mergers and acquisitions in the last four years.
- Estimate the gaps in supply-demand, statics involved in import-export, and regulatory framework of the worldwide Lithium-ion Battery Market in over 20 top nations.