About Li-ion battery
A Li-ion battery is a rechargeable battery with the highest electrochemical potential. A positive terminal, a negative terminal, and an electrolyte between the terminals constitute the main parts of the battery. The basic principle of working of Li-ion batteries is to generate power when ions move from a negatively charged anode to the positively charged cathode. When the battery discharges, the movement of ions from the anode to the cathode releases energy. On the other hand, during charging, electricity from the adapter forces the ions to return to the anode in the battery. Once the adapter is removed, this cycle starts again. With time, the charge hold capacity of a Li-ion battery deteriorates because of lack of movement of ions, which are trapped in the anode. Some benefits of using Li-ion batteries include higher current density, low self-discharge rates, and minimal maintenance costs. Li-ion batteries are widely used in the consumer electronics, automotive, industrial, and power grid and renewable energy sectors.
TechNavio's analysts forecast the Li-ion battery market in South Korea to grow at a CAGR of 10.4 percent over the period 2014-2019.
Covered in this report
The Li-ion battery market in South Korea has been segmented into consumer electronics, automotive, industrial, energy storage, and others.
TechNavio's report, Li-ion Battery Market in South Korea 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 also includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Li-ion Battery Market in South Korea 2015-2019
Technavio recognizes the following companies as the key players in Li-ion Battery Market in South Korea 2015-2019: Kokam, LG Chem, Samsung SDI and SK Innovation.
Other Prominent Vendors in the market are: Enertech International and Vitzrocell.
Commenting on the report, an analyst from Technavio’s team said: “Many South Korean firms such as LG Chem and Samsung SDI are becoming supply focal points for end-users, mainly for consumer electronics products because of their impressive cost competitiveness. Currently, Japanese automotive companies have lead in terms of technological development and commercialization. It is likely that companies from other regions may enter because of the immature nature of the market. There is a growing presence of many companies from SouthKorea in the Li-ion battery segment in EVs, which will lead to an increase in market share for South Korea in the global market.”
According to the report, the growth of the Li-ion battery market in South Korea is driven by several factors, one of which is the growing number of Li-ion battery patents and R&D in the country. These are used for measuring the competitiveness of a country in the Li-ion battery industry.
Further, the report states that the lack of charging infrastructure for EVs is curtailing the growth of the Li-ion battery market in South Korea.
Kokam, LG Chem, Samsung SDI, SK Innovation., Enertech International, Vitzrocell
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