Analysis of the Global Lithium-ion Battery Market: Growth Opportunities and Market Outlook
Demand for lithium-ion batteries is expected to continue to grow from 2013 to 2020.
Key end-users driving growth in demand for lithium-ion batteries include consumer device vendors, industrial goods manufacturers, the grid and renewable energy storage segment, and automobile manufacturers.
The automotive segment is slated to exhibit higher growth beyond 2015, largely because of the increase in electric vehicle (EV) production and the continuing demand for hybrid electric vehicles (HEVs) and plug-in hybrid vehicles (PHEVs).
The grid and renewable energy storage energy segment will likely provide lithium-ion battery manufacturers with solid revenue growth opportunities over the next to years.
Within the industrial segment, healthcare, power tools and equipment, and military applications constitute the leading user-base for lithium-ion batteries.
Regulatory factors such as a push toward alternative and green energy sources, increasing emphasis on boosting fuel efficiency, and emissions standards will likely stimulate market demand.
About this report
The lithium-ion battery market is considered a high growth market. Because demand for energy storage is increasing, the need for lithium-ion batteries is also increasing. The segments that will exhibit high growth rates for these batteries include automotive, grid and renewable energy storage, consumer, and industrial. With greater emphasis on green and clean energy, lithium-ion batteries will play a key role in making this a reality. The highlighted segments in this study are expected to exhibit strong growth during the forecast period. The current cost per kilowatt hour for lithium-ion batteries is high compared to other rechargeable technologies. As demand increases, however, the cost will likely stabilize and become competitive.
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