03 August 2018
Visiongain’ has launched a new energy report The Lithium-Ion Battery Market Report 2018-2028: Forecasts by Type of Application (Industrial, Automotive, Consumer, Renewable & Grid Energy Storage) And By Regions (North America, Europe, Asia-Pacific, Middle East, Latin America) Plus Profiles of Leading Companies Lithium-Ion Battery Market
Lithium-Ion batteries are secondary batteries as they are rechargeable with longer lifecycle, enhanced storage and efficiency compared to conventional batteries. These advantages have led to increased battery demand subject to numerous applications including energy storage systems, automobiles, household electricity and consumer electronics products.
Lithium-Ion batteries are widely used in various industrial applications including power tools, telecommunications, healthcare and military equipment. The usage of nickel cadmium in power tools and equipment has been replaced with Lithium-Ion batteries due to its ability to reduce exposure to high temperatures.
Fluctuating crude oil prices and rising political instability has led to increased demand for alternative energy sources. The global automotive market is rapidly shifting towards the new generation vehicles such as HEVs, PHEVs and EVs to reduce greenhouse gas emissions and dependency on crude oil. Lithium-Ion battery is the most appropriate technology for the electric vehicles due to its high energy efficiency, long shelf life and reasonable cost. The growth in the Lithium-Ion battery market is due to rapid industrialization and urbanization as well as increasing demand for consumer electronics and renewable energy adoption.
The visiongain report analyst commented “Lithium-Ion Battery is expected to witness a high growth on account of due to growing demand for electric vehicles and increasing demand for consumer electronics and end-use industrial applications. Stringent norms by the government to reduce carbon footprints will boost the demand for lithium-ion battery globally. Rapid industrialisation and urbanisation will embellish the demand for lithium-ion battery in the Asia Pacific followed by North America and Europe.”
Leading companies featured in the report who are involved in Lithium-Ion Battery include Panasonic Corporation, Toshiba Corporation, Johnson Controls, Samsung SDI Co. Ltd., LG Chem Ltd., BYD Co. Ltd., GS Yuasa Corporation, Hitachi Ltd., Automotive Energy Supply Corporation (AESC), Electrovaya Inc., Philips, Tesla, A123 Systems, LLC, Duracell Inc. and Saft Batteries.
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