Lithium-Ion Battery Market To Flourish And Settle On USD 67.70 Billion by 2022
Some of the major players in the lithium-ion battery market comprise Hitachi Chemical Co. Ltd., Panasonic Corporation, Johnson Controls, Inc., BAK Group, LG Chem Power, Inc., Samsung SDI Co. Ltd., A123 Systems, LLC., Toshiba Corporation., GS Yuasa Corporation, Saft Groupe SA, BYD Company Ltd., Automotive Energy Supply Corporation (AESC), and Valence Technology, Inc. among others. These companies are set to bolster the development of lithium-ion battery market.
As per analysts at Zion Market Research, global lithium-ion battery market was capitalized at almost USD 31.17 Billion in 2016 and is likely to create income of USD 67.70 Billion by 2022, developing at a CAGR of slightly more than 13.70% from 2017 to 2022.
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Increasing Acceptance Of Li-Ion Battery In Various User Electronics To Bolster The Development Of Global Lithium-Ion Battery Market
As per analysts at Zion Market Research, the lithium-ion battery market grows at fastest rate owing to its acceptance in various user electronics such as tablets, smartphones, MP3 players, and digital cameras among others. Li-ion batteries are one of the most accepted batteries in the globe owing to the global employment of laptop computers and mobile phones. In addition to this, the requirement for Li-ion batteries in the automobile sector is more due to rising requirement for electric cars, thereby boosting the lithium-ion battery market.
In addition to this, various M&A by major market players is also set to bolster the development of lithium-ion battery market. For example, in December 2017, Panasonic Corporation joined hands with Toyota Motor Corp for the development of Li-ion prismatic cells. This deal is aimed to deal with the rising expectations and demand for electric cars.
Consumer Electronics To Lead The Lithium-Ion Battery Market With Biggest Share Of The Global Market In Future
The lithium-ion battery market is divided on the basis of its power capacity into 48–95 Wh, 5–25 Wh, 100–250 KWh, 18–28 KWh, and more than 300 KWh. 5-25 Wh section is one of the top divisions of lithium-ion battery market. The section added for more than 32% of the total lithium-ion battery market in terms of income. 18-28 KWh division is likely to develop at a noteworthy rate in the years to come.
A number of applications sections of lithium-ion battery market comprise aerospace, automotive, consumer electronics, defense, and industrial among others. Consumer electronics is the top section of lithium-ion battery market and added up for the biggest share of the global lithium-ion battery market. This division is likely to carry on its supremacy in the global lithium-ion battery market all over the forecast period owing to increasing demand tablet, smartphone, and laptop. Industrial and automotive are other major outlets of the lithium-ion battery market and are likely to show significant development in the lithium-ion battery market within the forecast period.
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- North America
- The U.S.
- Asia Pacific
- Latin America
- The Middle East and Africa
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