Lithium Ion Battery Market is Expected to Reach USD 33.11 Billion in 2019: Transparency Market Research
Albany, New York, USA (PRWEB) December 25, 2013
According to a new market report published by Transparency Market Research “Global Lithium Ion Battery Market (Cathode, Anode, and Electrolytic solution) – Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2013- 2019”, the global market was worth USD 11.70 billion in 2012 and is expected to reach USD 33.11 billion in 2019, growing at a CAGR of 14.4% from 2013 to 2019. Due to the increasing demand and huge potential of lithium-ion battery in consumer, automotive and industrial sectors, Asia Pacific was the largest market for lithium-ion batteries in 2012.
Browse the full report with complete TOC at http://www.transparencymarketresearch.com/lithium-ion-battery-market.html
The lithium-ion battery market is primarily driven by improving efficiency of battery and increasing application in EVs and HEVs and energy, medical and military. In addition, stringent government regulations related to carbon emissions in regions such as Europe, North America and China is supporting its growth. At the same time, higher life cycle as compared to lead nickel, nickel cadmium and nickel metal hydride batteries is expected to increase L-I demand in the coming years. High price as compared to other batteries and the risk of overheating are the factors inhibiting lithium-ion battery growth globally. However, the price is coming down and will have a positive impact on the market in the coming years.
Among different application sectors, the consumer sector is the largest followed by automotive in 2012, and is expected to maintain its position throughout the estimated period. Growing adoption of these batteries in consumer electronic products such as digital cameras, cellphones and tablet PCs is expected to fuel its growth in the estimated period. Energy, medical and military sectors are the emerging sectors for lithium-ion battery offering huge potential in the coming years.
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Geographically, Asia Pacific holds the largest share in the lithium-ion battery market and accounted for 49.0% of the market in 2012. Japan and China are the major countries supporting the growth in this region. Japan is the leading manufacturer of lithium ion batteries globally. The manufacturers in these countries are focused to increase their sales in various regions. In addition, increasing adoption of HEVs in China is expected to fuel the growth in this region. Nevertheless, North America is expected to see the fastest growth, i.e., 15.5%, as it has been a pioneer in the adoption of the lithium-ion battery.
Automotive Energy Supply Corporation (AESC), A123 Systems LLC, GA Yuasa Corporation, Hitachi Chemical Co. Ltd., Johnson Controls, Inc., LG Chem Power, Inc., Panasonic Corporation, Samsung SDI Co. Ltd., Toshiba Corporation and China BAK Battery, Inc. are the popular players in the lithium-ion battery market. AESC holds major revenue share in 2012. The number of players in the lithium-ion battery market has increased in the last few years and more number of players is expected to enter this market in the coming years. However, global players are likely to collaborate with local players in order to expand their market in different regions.
Lithium-ion battery demand is expected to see a robust growth in the forecast period. This is due to its increasing demand across various application sectors such as automotive, wind, electronics, industrial and military. The market is currently driven by its usage in automotive sector in HEVs, trains and trams. Lithium-ion batteries can be differentiated primarily based on their functionality. The application of lithium-ion battery alongside other batteries is expected to increase, and lithium-ion batteries are expected to emerge as a replacement for lead acid batteries in the coming years.
This report has been segmented by material type, by application and by geography. It also includes the drivers, restraints and opportunities (DROs), Porter’s five forces analysis and value chain of the lithium-ion battery market. The study highlights current market trends and provides the forecast from 2013 to 2019.
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