Lithium Ion Battery Market Analysis by ROI, Cash Flow,
Luton, Bedfordshire, UK, August 18, 2022 (GLOBE NEWSWIRE) — Accuracy Consultancy, the market research and consultancy wing of Improve Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Lithium-Ion Battery Market.
From 2020 to 2029, the global lithium-ion battery market is expected to grow at a CAGR of 11.5%. From 38 billion USD in 2020, it is expected to increase to more than 101 billion USD by 2029
Everything from smartphones to power tools, electric automobiles to aerospace parts are powered by lithium-ion batteries. Unlike disposable lithium primary batteries, which use metallic lithium as the electrode, lithium-ion batteries (LIB) use an intercalated lithium compound as the electrode. Compared to other technologies, lithium-ion technology now has a number of advantages, including high energy density and low self-discharge rate.
Some key factors are long battery life, low battery costs, high battery density, the growing adoption of consumer electronics, and the expansion of R&D efforts by many groups and battery manufacturers. Other significant driving forces include an increase in demand for plug-in vehicles, an increase in the need for automated and battery-powered material handling equipment in industries, an increase in demand for smart appliances and other industrial goods , and strong demand for lithium-ion batteries for industrial applications.
The lithium-ion battery is frequently used in consumer electronics including computers, PDAs, iPods, cell phones, as well as in the automotive, military, and aerospace industries. All electronic devices use the rechargeable battery called lithium-ion. The category of smartphones, tablets and PCs is expected to dominate the market for all electronic devices.
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Scope of the Lithium Ion Battery Market Report
|Report attributes and details|
|Forecast period||2020 to 2029|
|Historical data available for||2017 to 2021|
|Rate of growth||11.5%|
|Estimated market value||$38 billion in 2020|
|Expected market value||$101 billion by 2029|
|Analysis duration||9 years|
|Number of pages||128|
|Number of figures and tables||158 & 27|
|Company analysis||more than 10|
|Geographical areas covered||
|Country Scope||United States, Canada, Mexico, Japan, South Korea, India, Australia, ASEAN and rest of APAC, United Kingdom, Germany, France, Italy, Spain, Russia and rest of Europe, Brazil, Argentina and rest of South America, Turkey, United Arab Emirates, Saudi Arabia, South Africa and rest of MEA|
With a sales share of 47%, Asia-Pacific was the global leader in lithium-ion batteries in 2021. The Asia-Pacific region’s lithium-ion battery market is dominated by China. The production of lithium-ion batteries would be concentrated in China. Growing demand for smartphones and tablets in developing countries like China, Japan, and India is driving the lithium-ion battery market in the Asia-Pacific region. Rising disposable income and growing consumer awareness of lithium-ion batteries in the market throughout the projection period are two additional factors driving the region’s lithium-ion battery market.
Over the projection period, North America is expected to experience the fastest growth. In the North American region, the United States dominated the lithium-ion battery industry. The growth and development of the lithium-ion battery market in the North American region is fueled by factors such as increasing sales of cars and electric vehicles across the region along with the growing demand for lithium-ion batteries for mobile phones.
Read more lithium-ion battery market data – https://accuracyconsultancy.com/reports/2950/lithium-ion-battery-market
The market for these energy-efficient and pollution-reducing vehicles has grown due to the growing adoption of electric vehicles by consumers. Due to the benefits associated with them, such as less need for engine maintenance, less use of toxic oil waste and reduced pollution from combustion engines, as well as advancing a better battery technology, the number of electric vehicles is constantly increasing. The demand for lithium-ion batteries will gradually increase as more people choose to use electric vehicles, which are seen as the future of the automotive industry and transportation networks.
The increasing demand for renewable energy is another element favoring the growth of the lithium-ion battery market. The government continuously invests in energy and infrastructure development initiatives that support the expansion and development of the lithium-ion battery business. For the growth of the lithium-ion battery market, the majority of major industry players are partnering with government organizations.
Over the projected period, the lithium-ion battery market is expected to benefit from profitable and promising opportunities due to the increased focus of major manufacturers on increasing the production capacity of lithium-ion batteries. Exide Industries, a battery producer, and Leclanché, for example, announced the formation of a new joint venture in June 2018 to develop lithium-ion batteries and energy storage systems to fuel market expansion. Indian electric cars.
Main market players
- BYD Company
- LG Chemistry
- Contemporary Amperex Technology Co. Ltd. (CATL)
- Samsung SDI
- Panasonic Company
- BAK Group
- GS Yuasa Corporation (GS Yuasa)
- Toshiba Company
Key segments of the lithium-ion battery market
Lithium-ion Battery Market by Type, 2020-2029, (Million USD), (Thousand Units)
- Lithium cobalt oxide
- lithium iron phosphate
- Lithium Nickel Manganese Cobalt
- lithium manganese oxide
Lithium-ion Battery Market by Capacity, 2020-2029, (USD Million), (Thousand Units)
- 0 to 3000mah
- 3000mah to 10000mah
- 10000mah to 60000mah
- More than 60000mah
Lithium-ion Battery Market by Application, 2020-2029, (USD Million), (Thousand Units)
- Consumer electronics
Who will benefit from this report?
- Automotive industry players
- electronics company
- Government organization
- Investment Research Firms
Why should you invest in this report?
Helps you set a budget – You can change your budget to stay ahead of your competitors because our report contains an in-depth competitor study.
Enable scheduling – This report provides regional demand analysis, forecast overview and historical market performance to help you plan effectively.
Detailed Competitive Landscape – This report helps you understand your competitor by answering questions such as:
1) What competitors are doing that isn’t working
2) What to do that works
3) Where your competitors are engaged
4) Level of investment of your competitors and more.
Market Entry Strategies – Research will help you determine when to enter the market to minimize trade losses.
Management and customers – Learn how to manage and manage customers by gaining this expertise.
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