Global Lithium-Ion Battery Market is estimated to reach $66 billion by 2025; growing at a CAGR of 11.3% from 2017 to 2025. Lithium-Ion batteries play a vital role in the global consumer electronics and automotive market. It has gained prominence due to its rechargeable characteristics along with its portable size. The global lithium-ion battery market is expected to experience robust growth during the forecast period. Lithium-ion batteries are portable solutions to all the electronic items playing a core role in the present scenario.
Increasing usage of lithium-ion batteries in electric vehicles, portable consumer electronics and grid storage systems owing to its high energy density and high safety level is expected to initiate market demand. Extensively used in hybrid automobiles, notebook computers and cell phones, Lithium-ion batteries are very lightweight and high-energy density solutions. Lithium-ion batteries are now widely implemented as the power or energy source for different gadgets from portable electronics to electric vehicles. Rise in the usage and adoption of digital cameras, smartphones, and tablets, among individuals, has resulted in an enhanced demand for lithium-ion batteries.
Based on geography, the global lithium-ion battery market has been segmented into Europe, North America, Asia-Pacific and Rest of the World (RoW). The U.S., Mexico and Canada are covered under North America wherein Europe covers the UK, France, Germany, and others. Asia-Pacific covers China, India, Japan, and others. RoW covers South America, Middle East and Africa. The growing demand for solar power systems and e-bikes in the UK, as well as e-rickshaws in India, has brought lithium-ion battery on a platform where it has created a market for every continent.
The major players of the Lithium-ion industry are Panasonic Corporation, GS Yuasa International Ltd., Hitachi Chemical Co., Ltd., Samsung SDI Co. Ltd., LG Chem, and BYD among others.
–Lithium-Ion Battery Market 2017-2025 |By Analysis and Forecast till 2025 Report
Accurize Market Research