Global Li-ion Battery Market for HEVs 2015-2019
About li-ion battery for HEVs
HEVs use duel source of energy for propulsion, one is gasoline (ICE) and the other is battery power source; li-ion battery is used as an alternative power source in HEVs. The combination of the dual mode of power sources helps achieve better fuel economy and performance and makes HEVs expensive, efficient, and preferred choice among end-users. HEVs use both IC engine and electric motor for propulsion. The use of battery-operated vehicles helps reduce carbon emissions and dependence on other fossil fuels. The battery used in HEVs is automatically charged during transportation through a regenerative braking mechanism. Many leading HEVs manufacturers such as Toyota, Honda, Nissan, and Mitsubishi are introducing advanced HEVs.
Technavio's analysts forecast the global li-ion battery market for HEVs to grow at a CAGR of 15.08% 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 HEVs for the period 2015-2019. In terms of demand type, the market is segmented into two: new demand and replacement demand.
Technavio's report, the Global Li-ion Battery Market for HEVs 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market 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 HEVs 2015-2019
Technavio recognizes the following companies as the key players in Global Li-ion Battery Market for HEVs 2015-2019: A123 Systems, AESC, Blue Energy, Hitachi, Johnson Controls, LG Chem, Panasonic and Toshiba
Other Prominent Vendors in the market are: Deutsche ACCUmotive, Samsung SDI, Sony and Shenzhen BAK battery
Commenting on the report, an analyst from Technavio’s team said: “Various types of Li-ion battery are available in the market depending on application. End-users choose these batteries as per their requirements. Lithium cobalt oxide batteries are ideal for cellphones, laptops, and cameras because they possess high current densities. The mandatory control circuit prevents overcharging and ensures the safety of people using these batteries. Similarly, lithium manganese oxide batteries provide high thermal stability and 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 powertrains and grid storage systems. The availability of different types of Li-ion battery bodes well for overall market growth during the forecast period.”
According to the report, with the increase in pollution and decreased fossil fuel reserves, the US government is promoting the adoption of electric cars. In terms of output by weight, a battery produces only 1% of the energy as compared to fossil fuels. However, the conversion efficiency of a Li-ion battery is much higher than that of gasoline vehicles. This higher conversion efficiency is expected to increase the market for Li-ion batteries in PHEVs and BEVs during the forecast period.
Further, the report states that power crisis issue in the country is likely to have a significant impact on global demand for Li-ion batteries for HEVs.
A123 Systems, AESC, Blue Energy, Hitachi, Johnson Controls, LG Chem, Panasonic, Toshiba, Deutsche ACCUmotive, Samsung SDI, Sony, Shenzhen BAK battery