Global Lithium Ion Battery Market
Global Lithium Ion Battery Market was valued US$27 Bn in 2017 and is estimated to reach US$102 Bn by 2026 at a CAGR of about 18.07 % during a forecast.
The report on â€œLithium Ion Battery Marketâ€ is segmented by product, by power capacity, by end user and by region. In terms of end-use industry lithium ion battery market is fragmented into consumer electronics, automotive, and industrial. Lithium cobalt oxide, lithium iron phosphate, lithium nickel manganese cobalt are product segments of lithium ion battery market. Based on power capacity, lithium ion battery market is segmented into 0 to 3000mAh, 3000mAh to 10000mAh, 10000mAh to 60000mAh. Geographically lithium ion battery market is segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
Lithium-ion battery market is driven by the rising appetite for electric vehicle and portable consumer devices. High energy density and high safety level has resulted into increased usage of lithium-ion batteries in electric vehicles, portable consumer electronics and grid storage systems driving the lithium ion batteries market. Government norms toward the disposal of lead coupled with growing demand for electronic devices like smartphones, tablets/PCs, digital cameras, and power tools further accelerates the lithium ion battery market. Longer discharge cycles along with improved shelf life are some of the key underlying parameters which will further provide impetus to the business growth. Reduction in weight of batteries, cost and increase their power output are challenges before lithium ion battery market. Requirement protection circuit, storage temperature limitation, transportation restrictions and high manufacturing market are factors restraining the lithium ion battery market.
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