Lithium Ion Battery Market Trends, Analysis and Forecasts 2024

Lithium-ion battery is a kind of rechargeable battery in which lithium ions transfer from the negative electrode towards the positive electrode during discharge and returns back while charging. Li-ion batteries are used in intercalated lithium compound, one electrode material when compared to the metallic lithium utilized in a non-rechargeable lithium battery. The electrolyte, which permits for ionic movement, and the two electrodes are the constituent components of a lithium-ion battery cell. Lithium-ion batteries are common in-home electronics. They are the most popular categories of rechargeable batteries for portable electronics, with a high energy density, tiny memory effect and low self-discharge. Lithium-ion batteries are growing popularly for military, battery electric vehicle and aerospace applications.

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For example, lithium-ion batteries are becoming a mojor replacement of the lead-acid batteries that have been used for utility vehicles and golf carts. As an alternative of acid electrolyte and Heavy lead plates the upcoming trend is to use light weight lithium-ion battery packs that can provide the same voltage as lead-acid batteries, so no modification to the vehicle’s drive system is essential. Global lithium ion battery market is bifurcated into type, power capacity, vertical and geography. Based on type, the market is bifurcated into lithium nickel manganese cobalt, lithium iron phosphate, lithium cobalt oxide, lithium titanate oxide, lithium manganese oxide, lithium nickel and cobalt aluminum oxides. On the basis of power type the market has been bifurcated into o to 3,000 mAh, 3,000 mAh to 10,000 mAh, 10,000 mAh to 60,000 mAh and more than 60,000 mAh.

Lithium ion batteries on the basis of vertical the market has been categorized into aerospace and defence, consumer electronics, automotive, marine, power, medical and industrial. Geographically, the lithium ion battery market has been bifrucated into five regions North America, Europe, Asia Pacific, Middle East & Africa and Latin America. The lithium ion battery market size and forecast period for each region has been estmated from 2017 to 2023. Additionally the CAGR (%) for the forecasted period 2017 to 2023. The study also includes market estimates for major countries/regions such as the U.S, the U.K., Germany, France, Japan, China and India.

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The detailed analysis by type, power type, vertical and regions supports in evaluating the present scenario, growth prospects and the future scenario for the lithium ion battery market over the forecast period. Thus, the report provides in-depth segment analysis of the market and classifies it into various industries, thereby providing valuable perceptions at the macro as well as micro levels. The technological progression in the Lithium ion battery is anticipated to drive the APAC market for Lithium ion battery in the future years. The major companies that provide Lithium ion battery include GS Yuasa Corporation, BAK Group, BYD Company Ltd., , Samsung SDI Co., Ltd., Panasonic Corporation, LG Chem, Ltd, Hitachi Ltd., Jhonson Controls Inc., Saft Groupe SA, Toshiba Corporation, A123 Systems, LLC, abd Valence Technology, Inc.