Lithium-ion battery market worth $105.4 billion by 2026

BANGALORE, India - Sept. 24, 2020 - PRLog -- The lithium-ion battery is a lightweight battery with high energy density, which is rechargeable and is used across all electronic devices. Nowadays, the automobile industry has emerged to be the major consumer of these batteries in the manufacturing of electric vehicles. Further, these are also used in the consumer electronics market to manufacture smartphones and other smart devices. The growth of the lithium-ion battery market is impelled by the outstanding characteristics of Li-ion batteries, the rising deployment of consumer electronics, and increasing R&D initiatives by different firms & battery manufacturers.

The key factors accelerating the growth in the market is a growth in need for plug-in vehicles, the rising requirement of automatic and operating material-handling equipment by means of battery in industries creates demand for smart devices and other industrial goods, and also the high need of lithium-ion batteries for industrial applications.

The global lithium-ion battery market size is estimated to grow from $105.4 billion by 2026; growing at a CAGR of 16.8% during the forecast period.

Lithium-ion battery market research report titled "Lithium-Ion Battery Market by Battery types, By Application, By Power Capacity, By Geography." provides key insights regarding the Lithium-ion battery market, the major competitors in this field and various innovative technologies to overcome the forthcoming challenges in this market.

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The eminent market players operating across the lithium-ion battery market are focusing to make strategic alliances to achieve a competitive edge. The corporate research and developments will result in transforming the lithium-ion battery market trends by enhancing efficiency and driving down the overall battery costs market. Some leading key players of the global lithium-ion battery market include Automotive Energy Supply Corporation, Panasonic Corporation, LITEC Co., Ltd., Samsung SDI Co. Ltd., LG Chem Power (LGCPI), A123 Systems, LLC, China BAK Battery Co. Ltd among the others.

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Mr. Karthick Subramani

Infoholic Research LLP

Marketing & Communication

Karthick@Infoholicresearch.Com