Thursday, 15 November 2018

Trends of Lithium Ion Batteries- Market Growth factors by 2022

Factors that are driving the growth of the market include increase in demand for electric vehicle (EV), strict government mandates on fuel economy, growing demand for smart devices and other consumer electronics, and development toward enhancement of lithium ion batteries.

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 market 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 lithium ion battery 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”

“The market for 3000mAh to 10000mAh power capacity batteries expected to grow at the highest rate during the forecast period”

“Consumer electronics industry expected to hold the largest share of the lithium ion battery market”

“Europe expected to hold the second-largest share of the lithium ion battery market during the forecast period”

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