Lithium-Ion Battery Market:

As per the GMI Research's latest analysis, Global Lithium-Ion Battery Market reveals that the market is slated to register a significant CAGR over the forecast period. This is attributed to the strong adoption of consumer electronics, the increasing number of research and development activities by several companies and battery manufacturers, and the remarkable benefits provided by Li-ion batteries.

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Lithium-Ion Battery Market’s leading Manufacturers:

· LG Chem Ltd.

· Panasonic Corporation

· Hitachi Ltd.

· Johnson Controls

· Samsung SDI Co. Ltd.

· BAK Group

· BYD Company Ltd.

· GS Yuasa Corporation

· Toshiba Corporation

· Valence Technology, Inc.

Lithium-Ion Battery Market Dynamics (including market size, share, trends, growth, forecast, and industry analysis)

Key Drivers

The strong adoption of consumer electronics, the increasing number of research and development activities by several companies and battery manufacturers, and the remarkable benefits provided by li-ion batteries are the key drivers contributing to the growth of the lithium-ion battery market size. Furthermore, the strong demand for plug-in vehicles, followed by the increasing requirement to bring automation and battery-operated material-handling equipment in sectors, is further propelling the growth of the lithium-ion battery market share in terms of revenue. With the increasing digitalization and globalization, consumers are proactively searching for smart devices to bring automation into their lives, which will support the growth of the market. The high demand for industrial goods is expected to bring various growth opportunities to the market.

According to the lithium-ion battery market report, the growing number of PV installations and nuclear power plants and the introduction of numerous wind energy projects, including New Wing Energy Project, will further stimulate the growth of the global lithium-ion battery market in the upcoming years. Additionally, the growing off-grid installations, particularly in China, Germany, the US, and Global, are further augmenting the demand of the market. These batteries are largely used in electronic devices like digital cameras, smartphones, and power tools.

Type Segment Drivers

Based on the type, the Lithium Nickel Manganese Cobalt is projected to grow at a higher CAGR in the coming years due to the growing application of these batteries in various sectors owing to its exceptional features that include better stability, increasing level of strength, discharge cycle, and has a good charge. In addition to this, the high adoption of nickel manganese cobalt in batteries of tablets, smartphones, power tools, laptops, electrical storage systems, and automotive will further augment the market growth.

Lithium-Ion Battery Market Segmentation:

Segmentation by Type:

· 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)

Segmentation by Products:

· Cell

· Battery Pack

Segmentation by Power Capacity:

· Less Than 3,000 mAH

· 3,000 TO 10,000 mAH

· 10,000 TO 60,000 mAH

· More Than 60,000 mAH

Segmentation by Voltage:

· Low (Below 12 V)

· Medium (12 V – 36 V)

· High (Above 36 V)

Segmentation by Industry:

· Consumer Electronics

o Smartphones

o UPS

o Laptops

o Others

· Automotive

o Battery Electric Vehicles

o Plug-In Hybrid Electric Vehicles

· Aerospace & Defense

o Commercial Aircrafts

o Defense

· Marine

o Commercial

o Tourism

o Defense

· Medical

· Industrial

o Mining equipment

o construction equipment

o Forklifts, automated guided vehicles (AGV), and automated mobile robots (AMR)

· Power

· Telecommunication

Segmentation by Region:

· North America

o United States of America

o Canada

· Asia Pacific

o China

o Japan

o India

o Rest of APAC

· Europe

o United Kingdom

o Germany

o France

o Spain

o Rest of Europe

· RoW

o Brazil

o South Africa

o Saudi Arabia

o UAE

o Rest of the world (remaining countries of the LAMEA region)

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