Press release
Li-Ion Battery Pack Market: Which Regions Will Continue to Remain the Most Profitable Forecast 2020 to 2030
The global Li-Ion battery pack market was valued at US$ 57.4 billion in 2020 and is expected to add value worth US$ 3.3 billion during the forecast period. The market is anticipated to expand at a CAGR of 2.7%.Browse Full Report - https://www.factmr.com/report/3120/lithiumion-battery-pack-market
However, amid the COVID-19 pandemic, the market is poised to stagnate for the next couple of financial quarters. This is attributed to a significant drop in the demand for Li-ion battery packs globally. The adoption is expected to remain low as stringent lockdowns amid COVID-19 has created exceptional dormancy in end use industries such as consumer electronics, and automotive industry.
In addition, impact of COVID-19 on the mining industry has lowered the production of lithium. Consequently, companies in East Asia which have resumed operations post-lockdown are experiencing insufficient raw material supply, compelling companies to work at a significantly lower capacity.
This in turn, is poised to disturb the business eco – system in the global li ion battery pack market. However, the market is projected to create significant opportunity in the second half of the forecast period, when impact of COVID-19 pandemic will be brought under control globally.
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Key Takeaways of Li Ion Battery Pack Market
Global Li-ion battery pack market is expected to grow at a volume CAGR of 2.6%, expanding 1.3X in terms of value from 2020 through 2030.
Lithium cobalt oxide battery type will hold the maximum share in terms of value, at US$ 64.4 billion by the end of forecast period (2020 – 2030).
Pouch cells are set to grow at a value CAGR of 4.7% and are expected to gain 271 BPS on their market share by the end of forecast period.
Nominal voltage less than 12V is expected to account for majority share in terms of value. It is projected to create absolute $ opportunity of more than US$ 8.9 billion during the forecast period.
Batteries with capacity less than 20KWhr & 30-60KWhr are projected to grow at a value CAGR of 3.2% & 2.4% respectively and will collectively create absolute $ opportunity of more than US$ 14.6 billion by the end of the forecast period.
Automotive end use sector is anticipated to hold more than 89% share, creating an absolute $ opportunity of more than US$ 15.2 billion during forecast period.
APEJ is prophesied to hold maximum share in terms of value and will expand at CAGR of 3% by the end of the forecast period.
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The Li-Ion Battery Pack market report provides the readers with the below-mentioned insights:
• Key trends, including ecological conservation, patented solutions, and globalization.
• Consumption pattern of each segment of the market in every region.
• Detailed study of the factors (positive and negative) impacting the growth of the global Endobronchial Valves market.
• Critical analysis of R&D activities performed by market players to expand their production footprint across various industries.
• Thorough research of effect of the market across various end use industries.
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The Li-Ion Battery Pack market report gets rid of the following queries:
1. Which end use has the highest rate of consumption and why?
2. Which regions are the market players targeting to gain a competitive edge?
3. What is the growth forecast of the global market in region?
4. What is the Y-o-Y growth rate of the global market?
5. Which segment will have the maximum share of the global market by the end of year?
And so on…..
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