Huge Benefits- œLi-ion Batteries Market a Great Substitute to Nickel Cadmium Batteries Market”

Lithium ion batteries are rechargeable batteries in which charge flows as lithium ions move from the negative electrode towards the positive electrode when discharging and back when charging. The lithium compound used in li-ion batteries is in the intercalated form, as compared to metallic lithium in non-rechargeable lithium batteries.

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Due to features such as high energy density, small size and the slow dissipation of charge when not in use, li-ion batteries are considered the best candidate for portable electronic products. However, there are many more application of li-ion batteries beyond consumer electronics which include aerospace, military, and automobiles.

Li-ion batteries were commercialized in the 1991 by Sony as an effective substitute to nickel cadmium batteries, the most prevalent batteries of that time. Lithium being the lightest of all metals, it has always been considered an exciting choice for portable batteries. In fact, non-rechargeable batteries even started using lithium as their core material since the 1970s; batteries used in watches are a common example of such earlier batteries.

The Market of Global Lithium Ion Battery , which stood at US$11.7 bn in 2012, is expected to reach US$33.1 bn by 2019. If the estimates hold true, the global market for lithium ion batteries will exhibit a CAGR of 14.40% between 2013 and 2019. In the last few years, the demand for electric and hybrid electric vehicles (HEVs) has increased significantly owing to the rising crude oil prices. Since these vehicles are powered by lithium ion batteries, growth of the market for HEVs will subsequently boost the market for lithium ion batteries. Apart from the automotive industry, the report also cites lucrative prospects for lithium ion batteries in the consumer electronics sector. Lithium ion batteries are nowadays increasingly being used in devices such as tablets and smartphones, since they ensure slow battery discharge and high lifespan. This is expected to significantly propel the global market for lithium ion batteries.

Lithium-ion battery demand is expected to see a robust growth in the forecast period. This is due to its increasing demand across various application sectors such as automotive, wind, electronics, industrial and military. The market is currently driven by its usage in automotive sector in HEVs, trains and trams. Lithium-ion batteries can be differentiated primarily based on their functionality. The application of lithium-ion battery alongside other batteries is expected to increase, and lithium-ion batteries are expected to emerge as a replacement for lead acid batteries in the coming years.

The energy requirement of consumers in electronic devices has grown in the recent years. Heavy processors in cellphone and high graphic support in devices such as Tablet PCs has increased the consumption of battery in many devices. Moreover, number of applications in smartphone is increasing and there is a necessity of higher life cycle and slow battery discharge in these devices. The growing energy requirement offer potential opportunities to the market in the coming years.

Some of the major companies competing in the global lithium-ion battery market are Automotive Energy Supply Corporation (AESC), Toshiba Corporation, Panasonic Corporation, Hitachi Chemical Co. Ltd., China BAK Battery, Inc., GA Yuasa Corporation, LG Chem Power, Inc., Samsung SDI Co. Ltd., Johnson Controls, Inc., and A123 Systems LLC.

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