Global Li ion Battery Market for All Electric Vehicles 2015-2019
About Li-ion Battery for AEVs
Li-ion batteries are extensively used as a power source in AEVs. They are used as an alternative source of power in HEVs, and as a primary source of power in BEVs and PHEVs. BEVs and PHEVs use electric motors, powered by Li-ion batteries, for propulsion. The application base of Li-ion batteries is higher in BEVs and PHEVs because of their high energy density and long lifespan. HEVs use IC engines as well as electric motors for propulsion, which makes them expensive but efficient. Despite their high cost, they remain a preferred choice among end-users. Moreover, battery-operated vehicles help reduce carbon emissions and lower dependence on fossil fuels. The batteries used in HEVs are automatically charged during transportation through a regenerative braking mechanism. The batteries used for PHEVs and BEVs are charged at charging stations. The voltages required for charging typically range between 110 and 440 Volts.
Technavio's analysts forecast the global Li-ion battery market for AEVs to grow at a CAGR of 22.8% 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 AEVs over the period 2015-2019. The report also discusses the key geographies (US, Japan, Europe, and China) in terms of demand and future growth pattern of the market.
Technavio's report, Global Li-ion Battery market for AEVs 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the global Li-ion battery market landscape for AEVs and its growth prospects in the coming years. The report also 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 All Electric Vehicles 2015-2019
Technavio recognizes the following companies as the key players in the global li ion battery market for all electric vehicles: A123 Systems, Automotive Energy Supply (AESC), Blue Energy, BYD, Coslight, Hitachi, Johnson Matthey, LG Chem, Panasonic, SAFT, Sinopoly Battery, Tianjin Lishen Battery and Toshiba
Other Prominent Vendors in the market are: China BAK battery, Deutsche ACCUmotive, Johnson Controls, Samsung SDI and Sony
Commenting on the report, an analyst from Technavio’s team said: “Various types of Li-ion batteries are available in the market for different applications. End-users can opt for Li-ion batteries that suit their requirements. Lithium cobalt oxide batteries are ideal for cellphones, laptops, and cameras because of their high current densities. The control circuit prevents overcharging and ensures these batteries are safe for use. Similarly, LMO batteries provide high thermal stability and enhance power output at lower 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, the growing use of PHEVs worldwide is likely to drive market growth during the forecast period. Several auto manufacturers have started focusing on PHEVs because of tax-related benefits and government grants. Also, the price of Li-ion batteries is reducing YoY, thus encouraging manufacturers to invest more in PHEVs.
Further, the report states that the longer charging time of Li-ion batteries used in vehicles is one of the key hindrances affecting the market growth.
A123 Systems, Automotive Energy Supply (AESC), Blue Energy, BYD, Coslight, Hitachi, Johnson Matthey, LG Chem, Panasonic, SAFT, Sinopoly Battery, Tianjin Lishen Battery, Toshiba, China BAK battery, Deutsche ACCUmotive, Johnson Controls, Samsung SDI, Sony