NEW YORK, Feb. 8, 2017 /PRNewswire/ -- "Lithium ion battery market expected to exhibit significant growth potential between 2016 and 2022"
The lithium ion battery market is expected to grow at a CAGR of 16.6% between 2016 and 2022 to be valued at USD 68.97 billion by 2022. The key driving factors for the growth of the lithium ion battery market are increase in demand for electric vehicle, strict government mandates on fuel economy, growing demand for smart devices and other consumer electronics, and development toward enhancement of lithium ion batteries. However, the security concerns posed by overheating of lithium ion batteries and inadequate charging infrastructure are the major factors restraining the growth of this market.
"Lithium cobalt oxide battery type expected to hold a major share of the lithium ion battery market during the forecast period"
Lithium cobalt oxide battery type is expected to hold a major share of the market by 2022. The growing use of consumer electronics such as smartphones and laptops has resulted in the greater demand for energy-efficient batteries. Owing to a special attribute of high energy density of lithium cobalt oxide, it is mainly used as a power source for smartphones, tablets, laptops, and digital cameras, among others
"0 to 3000mAh power capacity expected to hold the largest size of the lithium ion battery market"
The 0 to 3000mAh power capacity batteries are expected to hold the largest size of the lithium ion battery market in 2016. 0 to 3000mAh power capacity is used in major industries such as consumer electronics which is considered one of the largest industries. Owing to high demand of these devices, the 0 to 3,000mAh power capacity batteries hold the largest size of the market in 2016.
"Market for automotive industry expected to grow at the highest rate between 2016 and 2022"
The automotive industry is expected to grow at the highest rate between 2016 and 2022. Semiconductors and electronic products require high accuracy and extreme precision, along with high output. The major factors contributing to the growth of the lithium ion battery market for automotive industry include rising demand for energy-efficient solutions, high power and energy density, and high-level safety; increased venture capital funding; and initiatives taken by government bodies to encourage adoption of lithium ion battery across the globe.
"Lithium ion battery market in APAC expected to grow at the highest rate during the forecast period"
The lithium ion battery market in the APAC region is expected to grow at the highest rate between 2016 and 2022. The demand for lithium ion battery systems is very high in APAC owing to the ever-increasing population and thus increasing need of these batteries for consumer electronics. Also, the market for electric vehicles has been rapidly developing in China towing to the significant government incentives for vehicle buyers and tightening emission regulations. The consumer electronics and automotive industries are the major contributors for the growth of the market in APAC.
Breakdown of the profiles of primary participants for the report has been given below:
- By Company Type: Tier 1 = 51%, Tier 2= 29%, and Tier 3 = 20%
- By Designation: C-Level Executives = 48%, Directors = 36%, and Others = 16%
- By Region: North America = 36%, Europe = 26%, APAC = 30%, and RoW = 8%
The key players in the lithium ion battery market include LG Chem Ltd. (South Korea), Panasonic Corporation (Japan), Samsung SDI Co., Ltd. (South Korea), BYD Co. Ltd. (China), BAK Group (China), A123 Systems, LLC. (U.S.), GS Yuasa Corporation (Japan), Hitachi, Ltd. (Japan), Johnson Controls Inc. (U.S.), Saft Groupe SA (France), Toshiba Corporation (Japan), and Valence Technology Inc. (U.S.).
The research report analyzes the lithium ion battery market based on the following segments—type, power capacity, industry, and geography. The market has been segmented on the basis of type into lithium nickel manganese cobalt (LI-NMC), lithium iron phosphate (LFP), lithium cobalt oxide (LCO), lithium titanate oxide (LTO), lithium manganese oxide (LMO), lithium nickel cobalt aluminum oxide (NCA). On the basis of power capacity, the lithium ion battery market has been classified into 0 to 3000mAh, 3000mAh to 10000mAh, 10000mAh to 60000mAh and more than 60000mAh. The report covers the market segmented on the basis of following industries—consumer electronics, automotive, aerospace and defense, marine, medical, industrial, and power. The report also covers the market segmented in four major regions, namely, North America, Europe, APAC, and RoW.
Key Benefits of Buying the Report:
Illustrative segmentation, analysis, and forecast for the market based on type, power capacity, industry, and geography have been conducted to give an overall view of the lithium ion battery market.Porter's five forces framework has been utilized along with the value chain analysis to provide an in-depth insight into the lithium ion battery market.The major drivers, restraints, opportunities, and challenges for the lithium ion battery market have been detailed in this report.The report includes a detailed competitive landscape along with key players and their revenue.
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