DUBLIN--(BUSINESS WIRE)--The "Lithium-ion Battery - Global Market Outlook (2017-2026)" report has been added to ResearchAndMarkets.com's offering.
Global Lithium-ion Battery market is accounted for $29.86 billion in 2017 and is expected to reach $139.36 billion by 2026 growing at a CAGR of 18.7%.
Booming market for electrical vehicles, rapid technological advancements, and increasing demand from smart devices are some of the factors fuelling the market growth. In addition, encouraging government regulations to utilize batteries in order to reduce pollution, growing adoption in various industries are the some other factors bolstering the market growth. However, safety concerns regarding overheating, and lack of charging stations are restricting the market growth.
Based on products, Lithium iron phosphate (LFP) batteries are expected to witness substantial growth rate owing to its better performance in stationary and portable applications. Besides, Lithium Nickel Manganese Cobalt (Li-NMC) segment is projected to register commendable growth rate driven by increasing adoption in electric vehicles and cost efficiency.
North America is anticipated to hold lucrative market share for Lithium-ion Battery, whereas Asia Pacific is projected to grow at a faster pace. Rapid industrialization, increasing demand from automotive industries and huge investments by key players in emerging countries such as China and India are the factors favoring the market growth in this region.
Some of the key players in Lithium-ion Battery market include
- A123 Systems, LLC.
- BAK Group
- BYD Company Ltd.
- GS Yuasa Corporation
- Hitachi Ltd.
- Johnson Controls Inc.
- LG Chem, Ltd.
- Panasonic Corporation
- Saft Groupe SA
- Samsung SDI Co., Ltd.
- Toshiba Corporation
- Valence Technology, Inc.
- Automotive Energy Supply Corporation (AESC)
- Energus Power Solutions, Ltd
- Roofer Technology Co. Ltd.
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