Global Lithium-Ion Battery Market Study Analysis: Electric Vehicles Use Lithium-Ion Batteries As A Source Of Power

The Global Lithium-Ion Battery Market was estimated to be $ Billion in 2028 and is anticipated to grow at a CAGR of more than 6.87% from 2021 to 2028. A lithium-ion battery is a high-density lightweight battery that is commonly used in electronic devices including mobile phones, laptops, digital cameras, and power tools. This is a rechargeable battery with a long life span, high current transmission, and low maintenance. The other application using lithium-ion batteries are energy storage for solar power plants, military, railways, telecom, and others. The lithium-ion battery manufacturers are continuously working on research areas including extending lifetime, increasing energy density, improving safety, reducing cost, and increasing charging speed. The increasing market for electric vehicles and consumer electronics and grid storage systems are expected to drive the lithium-ion battery market growth. The growing demand for renewable energy sources, increasing awareness towards environmental health, and carbon emission is expected to further supplement lithium-ion battery market growth.

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Global Lithium-Ion Battery Drivers And Restrain:
The major factors that have impacted the growth of the lithium-ion battery market are increasing demand in the automotive industry for zero carbon emission solutions, increasing demand in industrial operations for better manufacturing and logistics activities, and others.

Increasing demand in the automotive industry:
The automotive industries are looking forward to the adaptation of technology with zero carbon emission. A lithium-ion battery is one such solution. Lithium batteries possess high stability even at a high temperature which makes them feasible to be deployed in automotive products. The growing electric vehicle market supported by various government reforms such as subsidiaries to electric vehicles will supplement the lithium-ion battery market growth. The automotive industries are investing huge funds for improving the life span of this battery and optimizing its performance. The government initiatives and automotive industry demand for robust batteries may contribute to the lithium-ion battery market growth.

Increasing demand in industrial operations:
The industries are looking forward to implementing automation and battery-operated material handling equipment which will surge the demand for lithium-ion batteries. The lithium-ion batteries come with longer battery life and warranty which will enhance the operational life of the battery-operated equipment. The long battery life will reduce a device’s downtime which in turn results in reducing downtime costs. The extensive investment in research and development activities for developing new equipment that can run on lithium-ion batteries is also being conducted by the key players. Furthermore, the increasing requirements for electro-mobility across the logistics and supply chain department of industries are expected to fuel the lithium-ion battery market.
The market may be hampered by concerns about the safety of storing and transporting expended batteries and COVID-19 has caused supply chain disruptions for batteries and related components.

Impact Of COVID-19 on the Lithium-Ion Battery Market:
• Impact on Market Size
• End-User Trend, Preferences, and Budget Impact
• Regulatory Framework/Government Policies
• Key Players Strategy to Tackle Negative Impact
• Opportunity Window

Global Lithium-Ion Battery Market Segments:
The global Lithium-Ion Battery market is further segmented into type, power capacity, application, and geography.
By Type: Lithium Nickel Manganese Cobalt, Lithium Cobalt Oxide, Lithium Iron Phosphate, Lithium Titanite Oxide, Lithium Manganese Oxide, and Lithium Nickel Cobalt Aluminium Oxide
By Power Capacity: 0-3,000 mAh, 3,000 mAh-10,000 mAh, 10,000 mAh-60,000 mAh, and above 60,000 mAh
By Application: Consumer Electronics, Medical, Automotive, Industrial, Energy Storage, and Others

Key Region/ Countries Covered
• North America (US, Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Rest of Europe)
• Asia-Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
• Rest of the World (the Middle East & Africa and South America)

North America is expected to witness a significant growth in the lithium-ion battery market owing to the strong consumer base for consumer electronics and the growing electric vehicle industry. Asia-Pacific is expected to dominate the lithium-ion battery market due to the increasing demand for smartphones and tablets due to the increasing population. The stringent government reforms for promoting the electric vehicle, implementation of high-power batteries in various industry verticals, and presence of strong semiconductor and electronics companies are expected to further supplement the lithium-ion battery market in this region.

Key Players of Global Lithium-Ion Battery Market:

• Toshiba Corporation
• Panasonic Corporation
• Lithium Werks
• Samsung SDI
• LG Chem Ltd
• Hitachi Chemical Company Ltd.
• GS Yuasa International Ltd
• BYD

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Key Questioned Answered Through The Report:
• The Impact of COVID-19 on the global market
• What are the potential opportunities for new entrants in the global market
• What is the market Size and Forecast from 2020 to 2028?
• Key Players associated with the global Lithium-Ion Battery Market
• Value Chain Analysis of Global Lithium-Ion Battery Market
• What is the CAGR of the Global Lithium-Ion Battery Market from 2021 to 2028
• Major Growth Factor, Challenges, Trends, and Opportunities in the global market
• Key outcomes of SWOT Analysis

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