Lithium Ion Battery Market to Grow at over 15% CAGR until 2024
Technological advancements coupled with rising demand for
uninterrupted power supply to drive global lithium-ion battery market through
2024
According to a recent report
published by TechSci research on “Global Lithium-Ion Battery Market By Type, By
Shape, By Capacity, By Application, By Region, Competition, Forecast &
Opportunities, 2024”,
global lithium-ion battery market is
projected to grow at a CAGR of over 15% during 2019-2024, owing to rising
requirement for energy storage solutions with governments in different
countries taking policy-level initiatives to promote renewable power generation
and electric vehicles adoption. Moreover, rapid technological advancements
along with rising demand for power supply is further fueling growth in the
market. Additionally, rising awareness regarding clean energy is further
driving demand for lithium-ion batteries across the globe.
Browse 164 market data Figures spread
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Global Lithium-Ion
Battery Market "
https://www.techsciresearch.com/report/global-lithium-ion-battery-market/3884.html
By capacity, global
lithium-ion battery is categorized into Up to 4000 mAh, 4001 mAh – 15000 mAh,
15001 – 50000 mAh and Above 50,000 mAh. 4001-15000 mAh category accounted for the
majority share in global lithium-ion battery in 2018 and is anticipated to continue
its dominance during forecast period as well owing to wide range of
applications powered by this range of batteries. The basic application areas of
4001-15000 mAh batteries include digital cameras, electric vehicles,
camcorders, smartphones, wearable devices, etc. Among regions, North America lithium-ion
battery market is expected to witness a significant growth during forecast
period on account of growing demand for electric vehicles and growth in the
consumer electronics sales in the North American countries. Moreover,
technological advancements that support longer power back-ups and higher
efficiencies in tablets, PCs and smartphones is further anticipated to
positively influence North America lithium-ion battery market.
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“With the rising
demand for electric vehicles, demand for lithium-ion batteries in automotive
sector is anticipated to increase in the coming years, globally. Use of lithium-ion
batteries in automobiles is gaining traction among manufacturers due to their
light weight and small size, as compared to the nickel metal batteries used in
e-vehicles. Furthermore, high demand for lithium-ion batteries from consumer
electronics segment is further propelling growth in global lithium-ion battery
market.” said Mr. Karan Chechi Research Director with TechSci Research, a
research based global management consulting firm.
“Global Lithium-Ion
Battery Market By Type, By Shape, By Capacity, By Application, By Region,
Competition, Forecast & Opportunities, 2024,” has evaluated the future growth
potential of the global lithium-ion battery market and provides statistics and
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decision. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges and
opportunities in the global lithium-ion market.
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TechSci Research
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Research is serving clients across 11 different industrial verticals. TechSci
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