Lithium Ion Battery Market Value to Hit $73 Billion by 2025: Global Market Insights, Inc.
China Lithium Ion Battery Market is set to achieve 13% CAGR up to 2025, owing to strong economic growth along with ongoing expansion & development of automobile manufacturing centers.
SELBYVILLE, Del.: The size of the Europe lithium ion battery market is anticipated to witness growth over 11% by 2025. Supportive government policies coupled with a growing automotive industry will stimulate demand for these units. For instance, as per the International Energy Agency, in 2018, the total number of EVs on the road across Europe was over 1 million units.
The U.S. lithium ion battery market in 2018 was valued over USD 8 billion and is set to witness strong growth over the forecast timeframe. Increasing investments toward the development of EV charging infrastructure along with declining costs of electric vehicles will enhance the industry outlook. Growing focus toward environmental emissions coupled with tax incentives associated with adoption of renewable energy technologies will further boost the product penetration.
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The China lithium ion battery market will witness growth on account of rising concerns toward high emissions levels associated with the transportation sector coupled with rising demand for consumer electronics. In addition, increasing integration of ESS with renewable energy sources will further augment the business growth.
The global lithium ion battery market will surpass USD 73 billion by 2025, as reported in the latest study by Global Market Insights, Inc. Growing concerns toward environmental emissions coupled with increasing demand for EVs will stimulate market growth. In addition, shifting trends toward the application of renewable energy sources for power generation integrated with ESS will further enhance the industry landscape. For instance, in June 2019, U.S- based Duke Energy, announced 22 MW Li-ion storage projects to balance the demand/supply gap, improve energy security and manage costs associated with T & D infrastructure. The project will aid companies in meeting its target of installing 50 MW of battery energy storage systems by 2022.
The lithium cobalt oxide battery market will expand over 2% by 2025. High specific energy and long run time are some significant features that will favor the deployment of these batteries across consumer electronics including tablets, mobile phones, laptops and cameras. The growing demand of high-performance consumer electronic batteries offering longevity and rapid charging will further enhance growth of the industry.
Browse key industry insights spread across 470 pages with 690 market data tables & 45 figures & charts from the report, “Lithium Ion Battery Market By Chemistry (LFP, LCO, LTO, NMC, NCA, LMO), By Component (Cathode, Anode, Separators, Electrolytes, Aluminum Foil, Copper Foil, Others), By Application (Industrial {Military, Industrial Equipment, Medical, Marine, Others}, Automotive {Hybrid Electric Vehicles, Battery Electric Vehicles}, Consumer Electronics {Smartphones, Laptops, UPS Systems, Smart Cameras, Smart Watches, Smart Glasses, Smart Textiles, Activity Trackers, Others}, Energy Storage), Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France,Russia, Italy, Spain, Austria, Netherlands, Sweden, China, Japan, India, South Korea, Australia, Indonesia, Malaysia,Thailand, Philippines, Saudi Arabia, UAE, Iran, Egypt, Turkey, Morocco, South Africa, Nigeria, Algeria, Brazil,Argentina, Mexico, Chile, Colombia) , Competitive Market Analysis & Forecast, 2019 – 2025” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/lithium-ion-battery-market
Lithium manganese oxide (LMO) battery market will witness gains on account of strong thermal stability and high power. Enhanced safety and current handling will favor the distribution of these batteries across the transportation sector including electric cars, buses and two-wheelers.
A high adoption rate of activity trackers and smart watches owing to rising concerns toward health and fitness will drive the growth of the lithium ion battery market. Stringent waste disposal norms along with increasing demand for electronic devices will boost product penetration. In addition, a low rate of self-discharge along with high charge density are some of the prominent features favoring the installation of these batteries across the consumer electronics segment.
Significant industry participants operating across the lithium ion battery market include Hitachi Chemical, GS Yuasa, Samsung, LG Chem, Philips, A123 Systems, Sanyo, Toshiba, EnerDel, ProLogium, Saft, Roofer, Valence, Duracell, Energus Power, Tesla and Johnson Controls among others.
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Source: Global Market Insights, Inc.
