Lithium Ion Battery Market - Industry Analysis, Size, Share, Growth, Trends and Forecast to 2024

Lithium Ion Battery Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast to 2024
 
SEATTLE - May 22, 2017 - PRLog -- Lithium Ion batteries were introduced commercially in 1970, which offered high energy density with low maintenance. The energy density of lithium-ion is usually twice that of the standard nickel-cadmium. Some variants of lithium ion battery provide high current density and are an ideal choice for consumer mobile electronic equipment. Others provide higher current levels and are suitable for electric vehicles and power tools.

Lightweight lithium ion batteries are the best choice for mobility equipment, as they offer relatively long life span, allow for size customization, have extended run time when compared to lead acid, are fast charging and have a low self-discharge rate. Rechargeable lithium-ion batteries are also used for remote monitoring systems, owing to characteristics such as long life, small size, and relatively long stand-by time. Lithium batteries offer a self-discharge rate, which is 10 times lower as compared to lead acid batteries.

Get PDF Research Brochure for more Professional and Technical Insights: https://www.coherentmarketinsights.com/insight/request-sample/284

Lithium Ion Battery Market Outlook – Increasing Demand for Automotive Applications to be the Major Market Driver

Asia Pacific is expected to be the most potential market for lithium ion battery manufacturers. The market in the region is projected to witness relatively high growth in terms of value over the forecast period. Rapidly growing automotive industry coupled with increased demand of batteries for consumer and commercial goods has augmented the growth of lithium ion battery market in developing countries such as India and China. According to IBEF, in 2016, the Indian automotive industry was valued at US$ 31.84 billion. This is further complemented by 100% FDI permitted by the Indian government in the automotive sector. This has attracted investors such as Bosch, Continental Engines, ZF, Aisin Seiki Company, Delphi, FAG, Denso, Magneti Marelli, WABCO, TRW and Valeo. This trend is expected to be followed over the forecast period. India Brand Equity Foundation (IBEF) is a Trust established by the Ministry of Commerce and Industry, Department of Commerce in collaboration with the Government of India with the purpose of promoting and creating international awareness of goods manufactured in India.

Recharging capability and high energy density are fueling the demand for lithium ion battery, especially in Asia Pacific and Middle East regions. Highly fragmented market is expected to be one of the restraining factors for the growth of lithium ion battery market over the forecast period. Furthermore, instances of lithium-ion batteries randomly exploding, as was the case with Samsung Galaxy Note 7, which led to abrupt discontinuation and recall of the product, has dented customer confidence in lithium ion batteries. While, this might be considered to be a one-off incident, research is currently underway to develop safer alternative battery technologies, which would inhibit growth of the lithium-ion battery market. For instance, researchers at the Dallas University are working on a revolutionary lithium-air battery technology, wherein oxygen is used as the oxidizer, rather than the material. This makes the battery up to five times cheaper and as many times long lasting than conventional lithium-ion batteries. Product innovation and expansion in various geographies is a key strategy adopted by the major players in the lithium ion battery market. Toshiba Corp and Denso Corp are planning to manufacture automotive lithium ion battery packs. This initiative includes an investment of INR 1,184 crore and the manufacturing facility is expected to be set up in Gujarat, India. Some of the major companies operating in the global lithium-ion batteries market are LG Chem Ltd., Valence Technology Inc., Saft Groupe S.A., Panasonic Corporation, BYD Co. Ltd., Samsung SDI Co., Ltd., BAK Group, GS Yuasa Corporation, Johnson Controls Inc., Hitachi, Ltd., Toshiba Corporation, and A123 Systems, LLC. .

Lithium Ion Battery Market Taxonomy

On the basis of material type, the global market is segmented into:

·         Cathode

·         Anode

·         Binders

·         Foils

·         Electrolytic solution

·         Separators

On the basis of power capacity, the global market is classified into:

·         5–25 Wh

·         18–28 KWh

·         48–95 Wh

·         100–250 KWh

·         More than 300 KWh

On the basis of application, the global market is classified into:

·         UPS

·         Cars

·         Games

·         Aircraft

·         Mining equipment

·         Smart Grid

·         Smartphones

·         Trucks

·         Gardening tools

Get Exclusive Discount on this CMI Report: https://www.coherentmarketinsights.com/insight/request-discount/284

Lithium-ion batteries are used in marine motors, which offer easy handling and reduced weight as compared to conventional lead acid batteries. Rechargeable lithium-ion batteries are an excellent choice for solar panels due to fast recharging ability. Maximum utilization of potential solar power storage is possible with lithium ion batteries.

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

Contact
Mr. Shah
sales@coherentmarketinsights.com
12067016702
End
Source: » Follow
Email:***@coherentmarketinsights.com
Posted By:***@coherentmarketinsights.com Email Verified
Tags:Lithium-Ion Battery Market, Lithium Ion Battery Industry, Lithium Ion BatteryTrends
Industry:Business
Location:Seattle - Washington - United States
Account Email Address Verified     Account Phone Number Verified     Disclaimer     Report Abuse
Coherent Market Insights PRs
Trending News
Most Viewed
Top Daily News



Like PRLog?
9K2K1K
Click to Share