Allied Market Research has recently published a report titled “Lithium-Ion Battery Market – Global Opportunity Analysis and Industry Forecast, 2015-2022.” The report is a detailed study of the lithium-ion battery market based on the type of material and industry verticals throughout the period 2015–2022.
The global lithium-ion battery market analysis is based on the current size, share, trends, and growth figures. The quantitative and qualitative market intelligence obtained through primary and secondary resources form the base for analysts to perform data regression and optimization to deliver accurate estimates for the forecast period 2016–2022. Based on material type, the report is segmented into cathode, anode, electrolyte, and other components used to make the batteries. The major industry verticals that have been taken into consideration for consumption of li-ion batteries are electronic equipment, automotive, and industrial, as well as some demand from medical, military, and textile. The report takes into account the sub segments to analyze the distribution channels for the product offerings. In 2015, the electronic equipment segment was held accountable for the highest revenue contribution, nearing about 49% of the global market value. The study forecasts that the segment would maintain its market dominance over the forecast period 2016–2022. On the growth charts, automotive segment is projected to experience highest CAGR of 13.6% with the increased employment of lithium-ion batteries in electric vehicles and hybrid vehicles.
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According to the findings of the report, the global lithium-ion battery market size is estimated to reach $46.21 billion worth in terms of revenue by 2022. Analysts project a 10.8% CAGR for the global industry throughout the period 2016–2022. The report gives a vivid description of the driving and restraining factors that have a direct impact on the growth of the market. It outlines the importance of rechargeable li-ion batteries as a primary power source for portable electronic devices. As per forecast, the demand for this type of batteries is expected to expand in the years to come owing to their increased application in electric automotive. Among other factors of growth, the study identifies the excessive consumer demand for smartphones, tablets, UPS, gaming devices, and other portable electronics as the most important one. In addition, it acknowledges the strict government regulation, environmental concerns regarding high pollution levels, and the large power efficiency of lithium-ion batteries as another enforcing factor for consumers to shift towards its adoption.
Key Findings of the Lithium-Ion Battery Market:
– The lithium-ion battery market witnesses a heavy consumption of cathode type products in the global markets, In2015, batteries made of cathode led the market in terms of revenue with more than 42% share in the global figure.
– Among the application segments, the automotive sector is forecasted to register highest growth rate due to the rise in demand for electric vehicles (EVs) and hybrid electric vehicles (HEVs).
– In 2015, revenue from Asia-Pacific contributed around 38% to the total market value and registered itself as the largest revenue-generating segment in terms of geographical regions.
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The global lithium-ion battery market report includes the company profiles of some major players in this industry. It gives an overview of their operations, product portfolio, manufacturing process, financial performance, and geographical presence. Some of the key manufacturers that have been profiled are Panasonic Corporation, Automotive Energy Supply Corporation (AESC), Samsung SDI Co. Ltd., and LG Chem Power (LGCPI). The report outlines the strategic business moves and investments that enhance their manufacturing processes, product performance, and consumer outreach. The study discusses the major product launches, acquisitions, agreements, mergers, and partnerships in recent past that have helped the leading manufacturers establish a strong commercial front and strengthen their global presence. It cites examples such as the 2015 acquisition of Magna International’s battery pack business by Samsung SDI, which enabled the latter to boost its automotive battery business for electric vehicles (EVs).