Dallas, Texas, June 14, 2019 (GLOBE NEWSWIRE) -- Owing to the expansion of increase in carbon emissions, automobile industry is shifting to from conventional fuel vehicles to electric vehicles. Production and usage of electric vehicles is projected to uplift the demand of energy storage batteries including lithium-ion. In addition, electric cars in the United States mainly operate on renewable or natural gas electricity. The batteries are compatible with renewable energy. Therefore, demand for lithium-ion batteries is expected to increase in economies with developed renewable energy sector.
For instance, 28 – 42 percent of U.S. and European electric vehicle riders have solar energy at home. Dubai announced various initiatives in September 2017 to increase the number of plug-in vehicles. For instance, free public parking, discounts on plug-in cars registrations, etc. Dubai also plans to have 42,000 electric vehicles by 2030. At present, there are approximately 100 charging stations in Dubai, which are set to double in the coming future.
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The global lithium-ion battery market size is estimated to touch nearly USD 105.0 billion by 2025, owing to the increasing demand from consumer electronics and electric vehicles. The report “Global Lithium-Ion Battery Market” offers market estimation with 2018 as the base year, 2016 & 2017 as the historic years, and 2019 to 2025 as the forecast period. The market by type and application is evaluated in terms of revenue (USD Billion) and volume (MWh) for the timeline 2015 to 2025. The global fuel cell market report highlights important manufacturers in Europe, North America, Asia Pacific, Central & South America, and MEA.
The global lithium-ion battery market by type is categorized into lithium-cobalt oxide battery, lithium-iron phosphate battery, lithium nickel manganese cobalt oxide battery, lithium-manganese oxide battery, lithium nickel cobalt aluminum oxide, lithium-titanate battery. Lithium-cobalt oxide battery dominated the market with a revenue share of more than 30% in the year 2018, both in terms of volume as well as value.
The “Global Lithium-ion Battery Market Size 2018 By Type (Lithium Cobalt Oxide Battery, Lithium Iron Phosphate Battery, Lithium Nickel Manganese Cobalt Oxide Battery, Lithium Manganese Oxide Battery, Lithium Nickel Cobalt Aluminum Oxide, Lithium Titanate Battery ), By Application (Application, Automotive, Grid Energy Storage, Consumer Electronics, Others) by Region (North America, Europe, Asia Pacific, Rest of World) and Forecast 2019 to 2025” study provides an elaborative view of historic, present and forecasted market estimates. Access the full research report @ https://www.adroitmarketresearch.com/industry-reports/lithium-ion-battery-market
By application, the global lithium-ion market is segmented into automotive, grid energy storage, consumer electronics, and others. The consumer electronics segment accounted for a major market revenue in the year 2018 and is expected to maintain its prominent position over the forecast period. However, automotive segment is anticipated to be the fastest growing segment in the coming years. Fast-paced development of the electric vehicles sector is the key reason behind the growing usage of lithium-ion batteries in the automotive industry.
In terms of region, Asia Pacific held the largest market share in the year 2018 and is projected to showcase a similar trend over the forecast period with more than 15% CAGR. As China currently holds the command across the lithium-ion battery value chain, most of the automobile and electronics manufacturers are shifting their manufacturing operations base in China in order to reduce the labor & logistic costs and to gain access to uninterrupted raw material supply.
Global Lithium-Ion Battery Market to Attract Automotive and Consumer Electronics Sector in the Future
- According to the Swiss Bank, electric vehicles will account for approximately 14% of global car sales by 2025 owing to which the demand for lithium-ion battery is anticipated to increase.
- In 2018, Samsung SDI (provider of lithium-ion batteries for EVs and consumer electronics) partnered with South Korea’s Posco to invest in a new factory for cathodes for lithium-ion batteries in Chile
- In early 2018, LG Chem announced its plans of constructing an electric vehicle (EV) battery plant in Wroclaw, Poland.
- Energy Storage has become vital with the increasing adoption of renewable energy as a measure to curb the ill-effects of global warming. The value of the global energy storage market was USD 44 bn in 2010 and is forecasted to hit USD 100 bn by 2020, with a CAGR of 9% from 2010-20.
Key players in the global lithium-ion battery industry include LG Chem Ltd., Tesla, BYD Company Ltd, G S Yuasa Corporation, Hitachi Ltd., Johnson Controls, Panasonic Corporation, Samsung SDI, Toshiba, Automotive Energy Supply Corporation (AESC), Duracell, Philips, Sony, CBAK, and Mitsubishi Heavy Industries, Ltd.
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Major points from Table of Contents:
Chapter 1 Executive Summary
Chapter 2 Research Methodology
Chapter 3 Market Outlook
Chapter 4 Lithium Ion Battery Market Overview, By Type
Chapter 5 Lithium Ion Battery Market Overview, By Application
Chapter 6 Lithium Ion Battery Market Overview, By Region
Chapter 7 Manufacturing Cost Outlook
Chapter 8 Company Profiles
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The global lithium-ion battery materials industry is projected to reach USD 26.45 billion by 2025 driven primarily by the end-user industries such as automotive and consumer electronics. The lithium-ion battery is witnessing the highest growth amongst all the battery type and is expected to show a similar trend over the estimated period. Browse the full report @ https://www.adroitmarketresearch.com/industry-reports/lithium-ion-battery-materials-market
Global Lithium Ion-Battery Recycling Market Size 2018-2025:
The Europe’s automobile industry is considered as a strategic industry resulting from the optimized used of energy and leanest production processes. Collective funding coming from government is backing the increased adoption of lithium ion batteries for electric cars. EU has launched a project named GREENLION for producing cheaper lithium ion batteries to be used in electric cars. These are some substantial factors contributing to the increased involvement of the lithium ion battery market in Europe. Browse the full report @ https://www.adroitmarketresearch.com/industry-reports/lithium-ion-battery-recycling-market
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