Lithium-ion Battery Packs Market Demand and Growth Research 2021-2031

Lithium-ion Battery Packs Market: Introduction

Transparency Market Research delivers key insights on the global lithium-ion battery packs market. In terms of revenue, the global lithium-ion battery packs market  is estimated to expand at a CAGR of ~11% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in its report on the global lithium-ion battery packs market.

The global lithium-ion battery packs market has been positively impacted by the rise in the production of electric vehicles, renewables, and electronics across the globe.

𝐆𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰: https://www.transparencymarketresearch.com/lithiumion-battery-pack-market.html

Lithium-ion Battery Packs Market: Dynamics

The demand for automobiles has increased significantly across the globe over the past few years, owing to the rise in total household income and changing buying patterns of consumers. Currently, vehicle production and operations are rising significantly in developed countries.

The demand for full and hybrid vehicles has been rising across the world, especially in North America, Europe, and Asia Pacific. This can be ascribed to increase in awareness about the environment, rise in investment in infrastructure development for electric vehicles, and supportive governmental policies for electric vehicles. Europe was the leading region in terms of EV sales in 2020. In 2020, 1,367,138 passenger plug-in electric cars were registered in Europe. Sales of passenger cars stood at approximately 1,272,000 in 2020 in China. The share of electric vehicles in the total global car fleet is estimated to reach 44% in 2040 and more than 50% in 2050.

Lithium-ion battery packs are primarily used in electric vehicles. Lithium-ion battery packs tend to have low maintenance and lower self-discharge rate than other batteries. Thus, rise in the demand for electric vehicles is projected to propel the lithium-ion battery packs market in the near future.

𝐆𝐞𝐭 𝐏𝐃𝐅 𝐬𝐚𝐦𝐩𝐥𝐞 𝐟𝐨𝐫 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐢𝐚𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐚𝐧𝐝 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐈𝐧𝐭𝐞𝐥𝐥𝐢𝐠𝐞𝐧𝐜𝐞: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=74919 

Lithium-ion Battery Packs Market: Prominent Regions

In terms of value, Asia Pacific dominated the global lithium-ion battery packs market in 2020. It has emerged as a highly lucrative region of the global lithium-ion battery packs market in terms of industrial as well as urban development over the past few decades.  China is a leading country in the region, as it is the manufacturing hub for lithium-ion battery packs. Furthermore, the country is a leading manufacturer of consumer electronics and electric vehicles. Sales of electric vehicles stood at more than 1.3 million in China in 2020. Furthermore, the Government of China has implemented stringent regulations to reduce carbon emission and greenhouse gases. Companies and end users are mandated to adopt battery-operated vehicles in the country. Thus, demand for lithium-ion battery packs is expected to remain high in China during the forecast period.

Europe was another lucrative region of the global lithium-ion battery packs market in 2020. It is a one of the leading regions in terms of use of renewable sources. The lithium-ion battery cell market in Europe is projected to expand at a rapid pace over the next few years, reaching 140 GWh by 2020 and 215 GWh by 2025. The automotive lithium-ion battery packs market is estimated to expand to nearly 76 GWh by 2020 and 121 GWh by 2025.

𝐒𝐚𝐯𝐞 𝐮𝐩 𝐭𝐨 𝟐𝟎% 𝐛𝐲 𝐩𝐮𝐫𝐜𝐡𝐚𝐬𝐢𝐧𝐠 𝐭𝐡𝐢𝐬 𝐏𝐫𝐞𝐦𝐢𝐮𝐦 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 | 𝐈𝐦𝐦𝐞𝐝𝐢𝐚𝐭𝐞 𝐃𝐞𝐥𝐢𝐯𝐞𝐫𝐲 𝐀𝐯𝐚𝐢𝐥𝐚𝐛𝐥𝐞: https://www.transparencymarketresearch.com/checkout.php?rep_id=74919

𝐀𝐛𝐨𝐮𝐭 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

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