The latest report on Lithium-ion Battery Market by Infinium Global Research gives complete coverage of the Lithium-ion Battery Market by types (manganese oxide, nickel manganese, nickel cobalt aluminum oxide, iron phosphate, titanate), power capacity (3000mAH to 10000mAH, 10000mAH to 60000mAH), application (consumer electronics, automotive, energy storage, industrial) in terms of key trends, market size, forecast and CAGR growth over the period of 2017 to 2023. In addition, the study covers deep dive into key product and applications trends in the regional markets of Lithium-ion Battery such as North America, Europe, Asia-Pacific and Latin America over the short run and long run.
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The Rapidly Growing Use of Lithium-Ion Batteries in the Consumer Electronics Drives the Growth of Lithium-Ion Batteries Industry
The lithium-ion battery is also known as Li-On batteries is a form of rechargeable batteries with high energy density mostly used in the consumer electronics and automotive applications. In this, the Lithium-ion battery, during the discharge, the lithium ions flows from the negative electrode to the positive electrode and vice versa. The lithium-ion battery is the most adopted form of rechargeable batteries for portable electronic devices as they offer, lightweight, high energy density, low self-discharge and miniscule memory affected as compared to the other tradition batteries that have the same size.
The rapidly growing use of lithium-ion batteries in the consumer electronics drives the growth of Lithium-ion batteries market. The benefits of the lithium-ion battery over the other tradition batteries include high energy density, Low self-discharge level and longer shelf life so they are vastly used in the consumer electronics. In addition, the adoption of the lithium-ion battery for the automotive sector in hybrid and electric vehicle are rising with the faster rate that is likely to boost the demand of the lithium-ion battery market. Furthermore, the factors such as the growing renewable energy sector and favorable government policies are expected to contribute to the growth of lithium-ion battery in upcoming years.
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The Growing Demand for the Efficient Battery Storage System
Furthermore, the use of lithium-ion batteries in the aerospace and the defense sectors is rising very rapidly than anticipated to escalate the growth of lithium-ion battery market. The properties offered by the lithium-ion battery such as low weight, high efficiency, and high energy density and others they are vastly replacing the led ion batteries in the aerospace and defense sectors. However, the problem associated with battery overheating is expected to restrain the growth of the lithium-ion battery market.
Moreover, rapidly growing technological innovations in the lithium-ion battery technologies are projected to create several opportunities in the lithium-ion batteries market in upcoming years. The declining prices and the offered advantages of lithium-ion batteries are increasing consumer inclination towards the adoption of lithium-ion battery in the new applications that are anticipated to serve the tremendous prospects for the lithium-ion battery market over the forecast period.
Among the geographies, Asia Pacific is the largest and the fastest growing region in the lithium-ion battery market. The rapidly growing consumer and the automotive sectors are driving the growth of the lithium-ion battery market in the Asia Pacific. In addition, the growing demand for the efficient battery storage system in the Asia Pacific region owing to the growing industrialization and urbanization is likely to boost the growth of the lithium-ion battery market in this region.
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- Comprehensive analysis of global as well as regional markets of the Lithium-ion Battery.
- Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2023.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.