Global Lithium-ion Battery Market 2017-2021
About Lithium-ion Battery
Lithium-ion batteries are rechargeable batteries in which carbon serves as an anode and Lithium-ion acts as a cathode. The advantage of using these batteries is that they increase the thermal stability, have higher current density, and have a longer shelf life than other battery technologies available in the market. Lithium-ion batteries are used in high power applications such as hybrid electric vehicles (HEVs), electric vehicles (EVs), and consumer electronics devices. One of the key reasons for this significant growth is the increased adoption of EVs and HEVs worldwide. In 2016, APAC dominated the Li-ion battery market, followed by the Americas and EMEA.
Technavio’s analysts forecast the global lithium-ion battery market to grow at a CAGR of 11.34% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global lithium-ion battery market for 2017-2021. To calculate the market size, the report considers the cumulative sales in the market and exclude aftermarket.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Lithium-ion Battery Market 2017-2021
Technavio recognizes the following companies as the key players in the global lithium-ion battery market: A123 Systems, Automotive Energy Supply, LG Chem, Panasonic, SAMSUNG SDI, and Toshiba
Other Prominent Vendors in the market are: Amperex Technology (ATL), BAK Group, Blue Energy, BYD, CBAK Battery, Coslight India Telecom, E-One Moli Energy, GS Yuasa, Hitachi Chemical, Johnson Controls, Kokam, Li-Tec Battery, MANZ, Maxell, NEC Energy Solutions, Saft, SK innovation, SONY, Tianjin Lishen Battery, and Valence Technology.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Legislative support for battery recycling. Lithium-ion batteries are the most commonly used battery type globally for many applications. Globally, governments worldwide are formulating regulations to recycle batteries that have harmful materials, such as lithium-ion cells to prevent groundwater and environmental contamination. Recycling can help extract useful metals from battery scrap, which also helps manufacturers overcome cost issues in the production of new batteries. Since 2006, Umicore of Belgium has been one of the few companies recycling lithium-ion batteries, using a combination process of smelting and leaching with chemicals to recover the metals. Similarly, other companies in different parts of the world like Stiftung GRS Batterien, Li-Cycle, and others are focusing on lithium-ion battery recycling.”
According to the report, one of the major drivers for this market is Augmented demand from consumer electronics market due to enhanced consumer spending. Urbanization and increase in the number of people earning in a family have led to an upsurge in disposable incomes worldwide. Consumer spending is an important economic factor since it generally reflects the overall consumer confidence in a country. Therefore, high consumer confidence obviously points to higher levels of consumer spending in the market.
Further, the report states that one of the major factors hindering the growth of this market is Growing popularity of fuel cell solutions. Lithium-ion battery end-users such as the automotive and material handling equipment industries face a major challenge with the increasing replacement of standard lithium-ion batteries with fuel cells. For instance, forklifts are used in warehouses where the operations can extend for three or more shifts in a day. If lithium-ion batteries are used, they need to be replaced or charged more than once in a day, which leads to issues in logistics management. Conventional batteries such as lead-acid batteries and lithium-ion batteries require a long recharging period, hold less energy with each charge, and have to be replaced every 2-3 years. To overcome such difficulties, more of these end-users are opting for fuel cell systems.
A123 Systems, Automotive Energy Supply, LG Chem, Panasonic, SAMSUNG SDI, Toshiba, Amperex Technology (ATL), BAK Group, Blue Energy, BYD, CBAK Battery, Coslight India Telecom, E-One Moli Energy, GS Yuasa, Hitachi Chemical, Johnson Controls, Kokam, Li-Tec Battery, MANZ, Maxell, NEC Energy Solutions, Saft, SK innovation, SONY, Tianjin Lishen Battery, and Valence Technology.
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