Battery Lug - Market: Size, Share, Growth, Analysis, Key Players, Revenue, Growth | Valuates Reports

Battery Lug - Market Size
The global Battery Lug market size is expected to reach US$ 1402.5 million by 2029, growing at a CAGR of 11.5% from 2023 to 2029.

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Battery Lug - Market
Battery Lug is a kind of raw material of lithium-ion polymer battery products that leads the positive and negative poles out of the cell
The market is mainly driven by the significant applications of Battery Lug in various end use industries. The expanding demands from the Consumer Use LIB, EV LIB and Energy Storage LIB,, are propelling Battery Lug market. Aluminum Lug, one of the segments analysed in this report, is projected to record % CAGR and reach US$ million by the end of the analysis period. Growth in the Nickel Lug segment is estimated at % CAGR for the next seven-year period.
China's policy on lithium-ion batteries mainly focuses on lithium-ion batteries. In 2015, in order to strengthen the management of lithium-ion battery industry and improve the development level of the industry, China formulated the Standard of Lithium-ion Battery Industry. the global sales of new energy vehicles reached 10.8 million units in 2022, with a year-on-year increase of 61.6%. In 2022, China new energy vehicle sales reached 6.8 million units, and the global share increased to 63.6%. In Q4 2022, sales penetration rate of China's new energy vehicle reached 27%, while the global average penetration rate was only 15%. Europe penetration was 19%, and North America penetration rate was only 6%. Lithium batteries will fully benefit from the high growth of downstream demand. According to the Ministry of Industry and Information Technology, China's lithium-ion battery production reached 750 GWh in 2022, up more than 130 percent year on year. Among them, the output of lithium energy storage battery exceeded 100 GWh, and the total output value of the industry exceeded 1.2 trillion yuan. The industrial application of lithium battery was also growing rapidly. In 2022, the loading capacity of new energy vehicle power battery was about 295 GWh, and the new energy vehicle power battery was about 295 GWh. According to our research, in 2022, the overall global lithium-ion battery shipments were 957GWh, a year-on-year increase of 70%. Global vehicle power battery (EV LIB) shipments were 684GWh, a year-on-year increase of 84%; Energy storage battery (ESS LIB) shipments were 159.3GWh, a year-on-year increase of 140%.

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Company Profiles:
• SUMITOMO ELECTRIC
• Shanghai Tokuen
• NEPES
• CLAVIS Corporation
• Zhejiang Tony Electronic
• Jiangsu Jiulan New Energy
• Soulbrain
• POLE
• ELCOM CO
• Dongguan Huachuang New Power
• SAMA
• Sichuan Enlaijidianzi
• MISUZU Holding
• Dongguan MIC New Mstar Technology
• Guangdong Zhengyee
• Nets Co., Ltd
• Gelonlib
• Shinhwa IT
• Futaba Corporation
• Hebei Litonghang

Segment by Type:
• Aluminum Lug
• Nickel Lug
• Nickel Plating on Copper
• Others

by Application
• Consumer Use LIB
• EV LIB
• Energy Storage LIB

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