The increasing demand of energy-efficient, safe, and
low-cost batteries is the key factor driving the growth of the lithium
ion battery market. The market was valued at USD 23.51 Billion in 2015
and is expected to grow at a CAGR of 16.6% between 2016 and 2022. The
base year considered for the study is 2015 and the forecast period is
between 2016 and 2022.
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The objective of the report is to provide a
detailed analysis of the lithium ion battery on the basis of type, power
capacity, industry, and geography. The report provides detailed
information regarding the major factors influencing the growth of the
market. The report also provides a detailed overview of the value chain
in the market and analyzes the market trends with Porter’s five forces.
The lithium ion battery ecosystem comprises
manufacturing of component, manufacturing and assembly of cell, module
and pack manufacturing, system designing, and distribution. The players
involved in the development of lithium ion battery systems include BYD
Co. Ltd. (China), LG Chem Ltd. (South Korea), Panasonic Corporation
(Japan), Samsung SDI Co., Ltd. (South Korea), and BAK Group (China),
among others, as well as associations such as the International Battery
Association and Energy Storage Association.
“Lithium ion battery market for lithium
nickel manganese cobalt battery type expected to grow at the highest
rate between 2016 and 2022”
Lithium nickel manganese cobalt (Li-NMC) type
batteries are used in application areas like e-bikes, power tools,
medical equipment, and other electric powertrains. Use of cobalt in
1:1:1 ratio with a combination of nickel and manganese gives the optimum
result while keeping the cost low, in spite of cobalt being expensive,
owing to a low proportion of cobalt in the combination. The energy
density of Li-NMC batteries is its primary strength.
“The market for 3000mAh to 10000mAh power capacity batteries expected to grow at the highest rate during the forecast period”
The heavy power capacity of the batteries, ranging
from 3000mAh to 10000mAh, makes them suitable for the use in EVs and
industrial applications. The increasing market of consumer electronics
and smartphones has increased the need of batteries with higher power
capacity which can keep the device running for longer hours and at the
same time giving an optimum experience of the device due to large screen
and power backup service. All these factors would lead to the higher
adoption of lithium ion battery systems having 3000mAh to 10000mAh power
capacity.
“Consumer electronics industry expected to hold the largest share of the lithium ion battery market”
The consumer electronics industry is expected to hold
the largest share of the overall lithium ion battery market. Lithium
ion batteries are a preferred choice for consumer electronics products
as a portable power source because of the features such as high energy
density and less recharge time. These are low on maintenance and light
in weight compared to other rechargeable batteries; therefore, these are
widely adopted in consumer electronics products such as mobile phones,
tablets, and laptops.
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1-888-600-6441
Email: sales@marketsandmarkets.com
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