Forums » News and Announcements
Lithium-Ion Battery Market segments 2027−2027
-
The lithium-ion battery market size is touted to reach USD 62 billion by 2023, according to the latest report by Market Research Future (MRFR). It can display 16% CAGR from 2017 to 2023. Lithium-ion batteries are the lifeline of electrical appliances and have found their way in cars as well. The market report covers trends and challenges to be faced by manufacturers over the forecast period (2020-2027) coupled with effects from the COVID-19 pandemic.
Get Free Sample Report : https://www.marketresearchfuture.com/sample_request/979
Market Scope
The global lithium-ion battery market is expected to augment its demand over the assessment period owing to production of electric vehicles. Establishment of production plans combined with electrification plans of governments to modernize infrastructure can drive market growth. This is evident with increased registration of EVs and improved battery life. The demand for batteries in sectors of manufacturing, solar power, and railways can facilitate market growth.
Investments in renewable energy schemes driven by sustainable development goals of countries to shift away from fossil fuel production can bode well for the market. Modernization of legacy power plants and goals of reducing carbon emissions can favor the market growth. Efforts to improve the recyclable rate of Li-ion batteries and development of single-stream recycling services will propel market growth.
Public-private partnerships in Europe can help push the lithium-ion battery market and fix the imbalances in demand and supply. Plans for development of next-generation battery technologies can spur innovations in the region and bolster the market demand. The BATT4EU initiative undertaken by the European Union (EU) to battle climate change and enable electric mobility.
Browse Full Report Details @ https://www.marketresearchfuture.com/reports/lithium-ion-battery-market-979
COVID-19 Impact
The COVID-19 pandemic has severely impacted the global lithium-ion battery market owing to measures rolled out by governments to restrict mining operations. The dip in supply of lithium from China has led to restructuring of strategies to Japan and South Korea. Moreover, the recession caused by the outbreak has led to job cuts and delays in production of batteries.
Segmentation
Consumer Electronics to be Leading Contributor in Li-ion Battery Market
The consumer electronics sector is expected to be the leading contributor in the market owing to large procurement rates of devices and proliferation of devices. Li-ion batteries can provide superior performance and high reliability.
Regional Analysis
APAC to Lead in Li-ion Battery Production
APAC is expected to lead the global lithium-ion battery market owing to technological advances and efforts of governments to lower emission levels. Investments by prominent manufacturers in establishment of battery plants coupled with electrification of engines and vehicles can favor regional market growth. Huge awareness among customers can assist in the proliferation of the market.
Competitive Analysis
Beijing Pride Power (BPP), BAK Group, GS Yuasa, Automotive Energy Supply Corporation (AESC), A123 Systems, SK Energy, TDK Corporation, SAMSUNG SDI Co., Ltd., Li-Tec Battery GmbH, Toshiba Corporation, Johnson Controls, Inc., BYD, Saft Groupe SA, Hitachi Chemical Co. Ltd., Sony Corporation, LG Chem., Toshiba, Panasonic Sanyo, and Valence Technology, Inc. are key players in the global lithium-ion battery market. Vertical integration is likely to be witnessed as companies look to control their supply chain and eliminate any deficits in the demand-supply gap.
Industry News
C4V has invested close to USD 53.7 million in India to set up a lithium-ion battery plant to capitalize on electrification efforts by the Indian government.
Buy Now : https://www.marketresearchfuture.com/checkout?currency=one_user-USD&report_id=979
About Market Research Future:
Market Research Future (MRFR) has created a niche in the world of market research. It is counted among the top market research companies that offer well-researched and updated market research reports and insights to businesses of all sizes. What sets us apart is our super-responsive team that offers quality work keeping clients abridged of the prospective challenges and opportunities in various markets. Our team is adept in their space as well as patiently listens to every client.
The best part is they know their work inside out and possess the expertise to guide the client in the right direction and achieve results on a tight deadline. We are a one-stop solution for all your data research needs. Our team does not believe in the “one size fits all” approach to creating a report that is detailed and concise. We handle 13 industry verticals including Healthcare, Chemicals and Materials, Information and Communications Technology, Semiconductor and Electronics, Energy and Power, Food, Beverages & Nutrition, Automobile, Consumer and Retail, Aerospace and Defense, Industrial Automation and Equipment, Packaging & Transport, Construction, and Agriculture. With our unique approach for every market report, we aim to reach the zenith in qualitative business intelligence and syndicated market research.
Our Forte
- Strong industry focus
- Robust methodology
- Tailor-made solutions
- Disruptive research
- Cutting-edge detailed reports
- Competitive pricing
- Domain expert researchers
- Timely delivery
- Ground-breaking approach
- Advanced and transparent research methodology
- Cover latest trends and innovations