Description
Lithium-Ion Battery Market Research Report Forecast to 2027
Market Forecast
Lithium-Ion battery alludes to a sort of battery-powered battery that is utilized in different businesses for different purposes. These batteries comprise an incredible life cycle with a high energy thickness. Over the last 10 years, the lithium-ion battery market has seen enormous development because of its popularity in the purchaser hardware and auto areas.
As new gadgets are coming into the market and run-on versatile power sources, the lithium-ion battery has turned into an extraordinary option. The worldwide lithium-ion battery market is supposed to arrive at USD 101.26 billion by 2027 and register a CAGR of 14.5% during the conjecture time of 2021 to 2027.
Lithium-ion batteries are utilized in a great many applications from life-saving clinical gear to extravagance yachts. The absolute most normal applications of lithium-ion batteries incorporate electric portability, energy capacity frameworks, power reinforcements/ups, versatility, workstations, and other ordinarily utilized purchaser electronic products. Lithium batteries offer dependable, consistent, enduring power.
In addition, lithium batteries are utilized in conjunction with sunlight-based chargers as these batteries charge rapidly, expanding the potential sun-oriented power capacity. Besides, they are the best decision for portability gear, for example, electric wheelchairs to stairlifts, as they are lightweight, offer a more drawn-out life length, quick charging, a low self-release rate, and stretched out run time when contrasted with lead-corrosive batteries.
Segment Overview
Global Lithium-Ion Battery Market is classified in terms of type, power capacity, voltage, and end user.
The Type segment includes Lithium Nickel Manganese Cobalt, Lithium Manganese Oxide, Lithium Titanate Oxide, Lithium Iron Phosphate, Lithium Cobalt Oxide, and Lithium Nickel Cobalt Aluminium Oxide. Based on Power Capacity the market is segregated among Up to 10,000 MAH-60,000 MAH, 3,000 MAH, 3,000 MAH-10,000 MAH, and Above 60,000 MAH. The Voltage segment is made up of three major categories namely Up to 12V, 12V-36V, and Above 36V.
The Global Lithium-Ion Battery Market has a wide range of End User industries such as Aerospace, Power Tools, Energy Storage, Motorcycles, Lawn and Garden, E-Bikes/Scooters, Small EVs (Golf carts, Forklifts, delivery vehicles), Mobility / Recreational, Marine, and Drone.
Regional Analysis
The North American lithium-ion battery market arrived at a worth of USD 9.78 Billion in 2020 and the market is supposed to develop at a CAGR of around 14.5% during 2021-2027. The region is encountering raising interest for electric and mixture vehicles that utilize lithium-ion batteries.
In addition, the rising deals of purchaser gadgets in the US and Canada have likewise sped up the interest for these batteries
The lithium-Ion Battery market in the Asia Pacific region is projected to develop at the most noteworthy CAGR of 15% over the period 2021−2027. Asian nations, for example, China and Japan are among the significant markets for electric vehicles.
In addition, constant advancements in the purchaser hardware and car industry have prompted an expansion in the interest of lithium-ion batteries as they offer a few benefits.
Major Players
The key players in the lithium-ion battery market are Hitachi, Ltd (Japan), Johnson Controls (Europe), Lithium Werks (Europe), Toshiba Corporation (Japan), GS Yuasa Lithium Power (Japan), Samsung SDI Co Ltd (South Korea), A123 Systems LLC (US), AESC (Automotive, Energy Supply Corporation) (Japan), BYD CO LTD (China), Sony Corporation (Japan), Panasonic Corporation (Japan), LG Chem (South Korea), Beijing Pride Power (BPP) (Japan), BAK Group (China), and Li-Tec Battery GmbH (Germany).
COVID 19 Impacts
We are continuously tracking the impact of the COVID-19 pandemic on various industries and verticals within all domains. Our research reports include the same and help you understand the drop and rise, owing to the impact of COVID-19 on the industries.
Also, we help you to identify the gap between the demand and supply of your interested market. Moreover, the report helps you with the analysis, amended government regulations, and many other useful insights.
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