Global Lithium-Ion Battery Market By Material Type (Cathode, Anode, Electrolytic Solution), Vertical (Electronics, Automotive, Industrial)
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The Global Lithium-Ion Battery Market size is expected to reach $50.9 billion by 2023, rising at a market growth of 10.6% CAGR during the forecast period. Lithium-ion (Li-ion) batteries are rechargeable batteries, and they are high in energy density and used largely in portable equipment. Rapid growth in the adoption of smartphones,
TABLEts/PCs, digital cameras, and power tools would significantly contribute to the market expansion. Growing demand for electric vehicles would significantly contribute to the growing demand for Li-ion batteries in the automobile sector. Li-ion batteries are popular among the automobile manufacturers, as they are a better alternative for nickelmetal based batteries, used in electric vehicles. The li-ion batteries are small sized and light weighted. The lithium-ion battery market is in its nascent stage. Nevertheless, the demand for the same would increase significantly during the forecast period. The high cost associated with the adoption of lithium battery would be a major limitation the adoption of the same into various devices.
Based on Material Type, the Lithium-Ion Battery market segments the market into Cathode, Anode, Electrolytic Solution, and Others. Based on Vertical, the market report segments the market into Electronics, Automotive, Industrial, and Others. Based on Regions, the Lithium-Ion Battery market segments the market into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. The market research report covers the competition analysis of key stake holders of the Global Lithium-Ion Battery Market. Key companies profiled in the report include Toshiba Corporation, Panasonic Corporation, GS Yuasa Corporation, Automotive Energy Supply Corporation (AESC), BAK Group, Samsung Electronics Co. Ltd. (Samsung SDI Co. Ltd.), Hitachi, Ltd. (Hitachi Chemical Co., Ltd.), LG Corporation (LG Chem), BYD Company Ltd., and A123 Systems, LLC.