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Global Lithium-Ion Battery Market: by Type (Lithium Nickel Manganese Cobalt, Lithium Iron Phosphate, Lithium Cobalt Oxide, Lithium Titanate Oxide, Lithium Manganese Oxide, and Lithium Nickel Cobalt Aluminum Oxide) Forecast till 2023
Lithium-ion Battery is a kind of rechargeable battery which is used in various industries for various purposes. These batteries consists great life cycle with the high energy density.
Lithium-ion Battery market has seen a tremendous growth in the past decade; which is expected to be continued during the forecasting period as well (2016 -2027) owing to the high demand from the consumer electronics and automotive sectors. Lithium-ion battery is serving as a great option for the new devices emerging in market, which run on a portable power source. Currently this market has been valued enormously with the significant rate of CAGR. It is further expected that this market will reach to even the greater market size of billions of USD with a heightened CAGR rate owing to the high demand from various industries, states the team Research Analyst while commenting upon this deep diving Market study report presented through more than 100 market data tables and figures spread over 145 pages.
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Lithium-ion Battery Market is segmented in to 3 Key Dynamics - for the forecasted period (2016 -2022)
Synopsis & Scenario:
The highly competitive Lithium-ion Battery Global Market is driven by various trends. One of the prominent trends is offering a competitive price.
In April 2016, BYD Company announced the plans of obtaining the lithium supply to cut down the cost of battery.
Product innovation is the master trend of all times. Market players keep introducing innovated products with increased efficiency like,
The highly competitive Lithium-ion Battery Market size is driven by the key players like - Panasonic Sanyo (Japan), Automotive Energy Supply Corporation (AESC) (Japan), LG Chem. (South Korea), SAMSUNG SDI Co., Ltd. (South Korea), Li-Tec Battery GmbH (Germany), and Toshiba (Japan).
Other prominent players of Lithium-ion Battery Market include A123 Systems (U.S.), GS Yuasa (Japan), SK Energy (South Korea), BYD (China), Sony Corporation (Japan) and Beijing Pride Power (BPP) (China) among others.
Asia-Pacific is dominating the market of Lithium-ion Batteries owning a greater market share. The main factors behind this growth are the growth of consumer electronics market in China, Japan and India. As Asia-Pacific accounts for more than 40% of global population and most of the countries of this region is in developing phase, high adoption rate of consumer electronic products and high consumption of automotive products making the Asia-Pacific a leader in this market.
Europe stands as the second biggest market of Lithium-ion Market followed by North America which accounts for a considerable market share.
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About Market Research Future:
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