Lithium Ion Battery Market to Grow at CAGR 17% till 2021
Booming consumer electronics market, growing demand for uninterrupted
power & grid stability and increasing demand for electric vehicles to drive
demand for global Lithium Ion Battery Market
According to a recently published TechSci Research report “Global Lithium ion Battery
Market By Type, By End User, By Region, Competition Forecast and
Opportunities, 2011 – 2021”, the global Lithium Ion Battery Market is
projected to grow at a CAGR of more than 17% during 2016 - 2021, on account of
surging demand for portable and stationary energy storage, increasing environmental
concerns and escalating number of solar & wind projects. Lithium ion
batteries are being increasingly preferred over traditional lead acid batteries
for power storage purposes in renewable power projects as well as residential
and commercial set-ups, globally. Demand for energy is forecast to increase
from 12,928.4 Million Ton Oil Equivalent (MTOE) in 2014 to 17,000 MTOE by 2020.
Anticipated growth in global energy demand is expected to boost adoption of
lithium ion batteries over the course of next five years.
Electric vehicles running on lithium ion batteries constitute one of the
fastest growing clean energy segments across the globe. As of 2015, around 95%
of hybrid electric vehicles plying on the roads, globally, were using lithium ion
batteries. It is estimated that more than 350,000 electric cars were sold
worldwide in the same year, and most of these cars run on lithium ion
batteries. Moreover, continuing surge in sales of smartphones is another major
factor driving demand for lithium-ion batteries. Globally, smartphone sales are
forecast to increase from an estimated 1.89 billion units in 2015 to 2.61
billion units by 2019.
Electric Vehicle Sales, By Country,
By Number of Units Sold and Percentage Share in Total Automobile Sales, 2015-Q1
Source:
Global EV Outlook
Browse 5 market data Tables and 120
Figures spread through 240 Pages and an in-depth TOC on
"Global Lithium Ion Battery Market"
https://www.techsciresearch.com/report/global-lithium-ion-battery-market-by-type-lithium-nickel-manganese-cobalt-li-nmc-lithium-iron-phosphate-li-ip-lithium-cobalt-oxide-li-co-etc-by-end-user-by-region-competition-forecast-and-opportunities-2011-2021/715.html
Lithium Nickel
Manganese Cobalt (Li-NMC) dominated the global Lithium Ion Battery Market in
2015, and the segment is anticipated to maintain its dominance over the next
five years as well. Consumer electronics is the largest end user of lithium-ion
batteries across the globe as Lithium-ion batteries are one of the most popular
types of rechargeable batteries for portable electronics, with a high energy
density, negligible memory effect and low self-discharge. In 2015, Asia-Pacific
dominated the global Lithium Ion Battery Market, followed by North America,
Europe, Middle East & Africa and South America.
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“Governments across
various countries have adopted policy measures to support adoption of electric
vehicles integrated with lithium ion batteries. These measures include
provision of incentives, tax rebates, subsidies, etc., which help in the
reduction of total cost of ownership of electric vehicles in their entire
lifecycle. Backed by anticipated rise in sales of electric vehicles, the global
Lithium Ion Battery Market is expected to register healthy growth rate over the
next five years.” said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“Global Lithium Ion Battery Market By
Type, By End User, By Region, Competition Forecast and Opportunities, 2011 –
2021” has evaluated the
future growth potential of Lithium Ion Battery Market, and provides statistics and
information on market structure, consumer behavior and trends. The report is
intended to provide cutting-edge market intelligence and help decision makers
take sound investment evaluation. Besides, the report also identifies and
analyzes emerging trends along with essential drivers, challenges and
opportunities available in global Lithium Ion Battery Market.
About TechSci
Research
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rather than follow market trends.
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