Chicago, IL -- (SBWIRE) -- 06/22/2017 -- According to the report, "Lithium Ion Battery Market, by (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 Aluminium Oxide (NCA), Power Capacity (0 to 3000mAh, 3000mAh to 10000mAh, 10000mAh to 60000mAh, More than 60000mAh), Industry (Aerospace and Defense, Automotive, Consumer Electronics, Industrial, Marine, Medical, Power) – Global Revenue, Trends, Growth, Share, Size and Forecast to 2022", the market for lithium ion battery is set to grow at an impressive rate during the forecast period.

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Lithium-ion (Li-ion) batteries are rechargeable batteries with high energy density and are mainly used in portable equipment. The market for these batteries is expected to witness a significant growth owing to their increasing use in smart phones, tablets/PCs, digital cameras, and power tools. Moreover, the demand for Li-ion batteries in the automobile industry is expected to increase with the increasing demand for electric vehicles. These batteries have gained popularity among the automobile manufacturers as they offer an alternative to nickel metal batteries used in electric vehicles, due to their small size and light weight. The lithium-ion battery industry is highly fragmented with the presence of large number of domestic players that occupy around 60% market share of the overall figure. Among the different market players present, Panasonic Corporation dominated last year. However, the market share of Panasonic Corporation is expected to decrease in the coming years due to the intensifying competition among prominent players to acquire major portion of the market.

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KEY PREMIUM INDUSTRY INSIGHTS

1. There are substantial elements that hold scope for the global lithium-ion battery market growth. At present, the market is in its nascent stage. However, its contribution to the global industrial scenario is estimated to increase significantly in the years to come. The high purchase price creates a major limitation for the consumers to adopt lithium battery into their devices or systems. Numerous players are stepping in the market with their innovative products.

2. Emerging technologies, such as flexible batteries and aluminum-ion batteries, are expected to increase the competition in the years to come. Improved shelf life coupled with longer discharge cycles will positively influence the lithium ion battery market size over forecast period. Stringent government regulations towards carbon footprint will further complement the business landscape.

KEY MARKET PLAYERS

Key players in the lithium ion battery market include:

1.BAK Group
2.BYD Company Ltd.
3.LG Chem, Ltd.
4.Panasonic Corporation
5Samsung SDI Co., Ltd.
6.G.S Yuasa Corporation
7.Hitachi Ltd.
8.Johnson Controls Inc.
9.Saft Groupe SA
10.Toshiba Corporation

On the basis of geography, the market may be categorized into regions such as North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. U.S. lithium ion battery market is expected to witness significant growth due to increasing electric vehicle demand with growing adoption of high quality consumer electronics products. China lithium ion battery market is set to witness considerable growth over the forecast period. As per the Department of Environment Protection (DOEP), the Chinese government has passed a resolution called 'Battery and Recycled Lead Enterprises to gradually shift from lead acid batteries to lithium ion, to reduce the rampant lead poisoning. The Germany lithium ion battery market share will witness a robust growth owing to the high adoption of electric vehicles coupled with increasing consumer awareness towards environmentally friendly technologies. Government initiatives such as subsidies and low interest loan will boost the industry growth.

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