About li-ion battery for EVs
Li-ion battery is used as a power source in EVs for transportation. It is used as an alternative source of power in PHEVs and a primary source of power in BEVs. A Li-ion battery powers the electric motor used for propulsion in a BEV. A PHEV uses both an IC engine and an electric motor for propulsion. The use of double fuel system makes PHEVs expensive, efficient, and a preferred choice among end-users. The use of battery-operated vehicles helps to reduce carbon emissions and the dependence on fossil fuels. The battery used in EVs is automatically charged during the transportation through regenerative braking mechanism and is completely refilled or recharged by a voltage ranging from 110 to 440 volts. The application of li-ion battery is higher in BEVs and PHEVs, because of its high energy density and long life span compared to other available rechargeable batteries in the market.
Technavio's analysts forecast the global li-ion battery market for EVs to grow at a CAGR of 31.1% over the period 2014-2019.
Covered in this report
The report covers the present scenario and the growth prospects of the global li-ion battery market for EVs for the period 2015-2019. Based on vehicle type, the market is segmented into two: BEVs and PHEVs.
Technavio's report, the Global Li-ion Battery Market for EVs 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the landscape of the global li-ion battery market for EVs landscape and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Global Li-ion Battery Market for EVs 2015-2019
Technavio recognizes the following companies as the key players in Global Li-ion Battery Market for EVs 2015-2019: A123, AESC, Blue Energy, Hitachi, LG Chem, Panasonic, Toshiba and Samsung SDI
Other Prominent Vendors in the market are: Deutsche ACCUmotive, Flux Power, Johnson Controls, Lithium Energy Japan, SK Innovation, Sony and Shenzhen BAK battery
Commenting on the report, an analyst from Technavio’s team said: “Various types of Li-ion batteries are available in the market depending on the application. End-users choose Li-ion batteries suitable for their own requirements. Lithium cobalt oxide batteries are ideal for cellphones, laptops, and cameras because of their high current densities. The mandatory control circuit prevents overcharging and ensures safe use of these batteries. Similarly, lithium manganese oxide batteries have high thermal stability and provide enhanced power output at low currents. They are ideal for power tools, e-bikes, EVs, and PHEVs. Lithium nickel cobalt aluminum oxide and lithium titanate batteries are used in electric power trains and grid storage systems. The availability of different types of Li-ion batteries is expected to boost market growth during the forecast period.”
According to the report, governments worldwide are promoting the use of EVs PHEVs/EVs as the growing number of passenger vehicles has resulted in increased pollution levels worldwide and depleting fossil reserves. In terms of energy output per weight, a battery produces only 1% energy compared to fossil fuels. However, the conversion efficiency of Li-ion batteries is much higher than that of gasoline-operated engines, which is expected to increase the market for Li-ion batteries in PHEVs and BEVs during the forecast period.
Further, the report states that the inconvenience caused to users because of long charging hours has made them reluctant to buy EVs.
A123, AESC, Blue Energy, Hitachi, LG Chem, Panasonic, Toshiba, Samsung SDI, Deutsche ACCUmotive, Flux Power, Johnson Controls, Lithium Energy Japan, SK Innovation, Sony, Shenzhen BAK battery