Lithium Air Battery Market Development, Growth, Trends, Demand Analysis and Forecast to 2023

The major restraint identified in the lithium air battery market is the high price of these batteries. Since the production technology of this battery is nascent and expensive, the overall cost of production of these batteries also rises which is acting as a major restraint in the grid scale battery market. Lithium Air batteries are one such energy storage solutions which have high capacity to store power. 

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On the basis of type, the lithium air battery market is categorized into aprotic battery, aqueous battery, mixed battery, and solid-state battery. Solid state batteries are not combustible and, in this manner, avoid the chances of any explosion. Based on application, the lithium air battery market is segmented into industrial, consumer electronics, automotive, and others.

Lithium air battery market is also expected to witness a considerable boost from the growing adoption of electric vehicles. A large number of European and North American nations are emphasizing on the sales of electric vehicles instead of petrol or diesel-based vehicles as electric vehicles are highly ecofriendly. 

Major opportunities identified in the lithium air battery market is the rising demand for these batteries from advanced nations, particularly in the U.S and European nations. Advanced nations are environmentally conscious countries which have strict environmental norms.

Europe is expected to remain as a lucrative region for the growth of lithium air battery market owing to large scale capacity addition of renewable power projects such as solar power plants, rising demand for electric vehicles, and a well-developed consumer electronics market in many of the European countries including Germany, France, Italy, Spain.

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Some of the major players operating in the global lithium air battery market are PolyPlus Battery Company, Lithium Air Industries Inc., and Mullen Technologies Inc.

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