“Lithium-Ion Battery market set to reach $42.3bn in 2019 due to growing application in automotive, grid energy storage and consumer electronics”

16 May 2019
Energy

Visiongain has launched a new energy report Lithium-Ion Battery Market Report 2019-2029: Forecasts ($bn) by Type of Application (Industrial, Automotive, Consumer, Renewable & Grid Energy Storage), by Component (Cathode, Anode, Electrolytic), by Regions (North America, Europe, Asia-Pacific, Middle East, South America) Plus 22 Countries; Including Analysis of 15 Leading Companies.

Development of the automobile battery market is important for the automotive sector as batteries serve different automotive applications in alternative and conventional products. Increasing adoption of electric vehicles with favourable government initiatives including subsidies and tax rebate will encourage demand for lithium ion batteries. Hybrid and plug-in hybrid electric vehicles are key application areas. Growing demand for EV’s will boost industry growth in the automobile battery market over the next decade.

The Environmental Protection Agency (EPA) introduced regulations for waste processing and recycling which will impact lithium ion batteries production. The Lithium ion battery life-cycle also impacts our ecology. Lithium ion battery production is high in the U.S., China, Argentina and Chile. Mines in the U.S. have a large concentration on the west coast and mining activity is high in those regions. South America also has numerous lithium mines which cater to the production of batteries.

The Visiongain report analyst commented "Lithium-ion batteries are rechargeable with a longer lifecycle, enhanced storage and efficiency compared to conventional batteries. These advantages have led to increased battery demand in numerous applications including energy storage systems, automobiles, household electricity and consumer electronics products. Lithium-ion batteries will witness a significant growth during the forecast period owing to increasing electronic device demand coupled with stringent regulations to reduce pollution levels."

Leading companies featured in the report who are offering lithium-ion battery market include Panasonic Corporation, Toshiba Corporation, Johnson Controls, Samsung SDI Co. Ltd., LG Chem Ltd., BYD Co. Ltd., GS Yuasa Corporation, Hitachi Ltd, Sony Energy Devices Corporation, Automotive Energy Supply Corporation (AESC), Phillips, Tesla, Renault Group, Lithium Werks, and Varta Storage.

Notes for Editors
If you are interested in a more detailed overview of this report, please send an e-mail to sara.peerun@visiongain.com or call her on +44 (0) 207 336 6100.

About Visiongain
Visiongain is one of the fastest-growing and most innovative independent media companies in Europe. Based in London, UK, Visiongain produces a host of business-to-business reports focusing on the automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors.

Visiongain publishes reports produced by analysts who are qualified experts in their field. Visiongain has firmly established itself as the first port of call for the business professional who needs independent, high-quality, original material to rely and depend on.

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