|By PR Newswire||
|February 24, 2014 12:52 PM EST||
DUBLIN, Feb. 24, 2014 /PRNewswire/ --Research and Markets (http://www.researchandmarkets.com/research/4ggxls/global_lithium) has announced the addition of the "Global Lithium Ion Battery Market - Forecast to 2019" report to their offering.
Lithium ion batteries are rechargeable batteries in which lithium ions move from anode to cathode during discharge and traverse back to anode while charging. They are available in different form factors such as small cylindrical, large cylindrical, pouch and prismatic. The market is expected to witness robust growth during the forecast period. This is due to the advantages such as higher efficiency, longer life time in compare to other batteries. Increasing applications of lithium-ion battery in the automotive sector such as in cars and buses is further expected to fuel growth in the coming years.
The global market was 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. Rising cost of fuel has paved the way for alternate means of transportation. The popularity of Electric Vehicles and Hybrid Electric Vehicles (HEVs) has increased over the past couple of years. These vehicles are powered by lithium ion batteries. In addition, stringent government regulations to regulate the carbon emission in many countries in Europe and North America are supporting the adoption of lithium ion batteries in vehicles.
The energy requirement of consumers in electronic devices has grown in the recent years. Heavy processors in cellphone and high graphic support in devices such as Tablet PCs has increased the consumption of battery in many devices. Moreover, number of applications in smartphone is increasing and there is a necessity of higher life cycle and slow battery discharge in these devices. The growing energy requirement offer potential opportunities to the market in the coming years.
The major factors restraining the growth of lithium-ion battery are high price and low awareness about its advantages over other batteries. This results in lower adoption across different product segments such as automotive, industrial and electronics sectors. Moreover, there is a risk of fire in certain applications in different industries. Lithium-ion batteries can erupt and explode in high heat conditions. However, technological advancements to eliminate this risk are taking place and this will support the growth in the coming years.
Geographically, Asia Pacific held the largest share in the lithium-ion battery market in 2012. Japan, India, China, Singapore and Australia are some major economies in Asia Pacific supporting the market. Lithium-ion battery market in Asia Pacific is driven by robust demand in Japan and China. Japan is the leading manufacturer of lithium-ion battery. Strict government regulations related to carbon emissions in vehicles is expected to support the growth of lithium-ion battery in China. Lithium-ion battery has been used widely in the hybrid buses of China, which is further supporting its growth in Asia Pacific
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. among others are the popular players in the lithium-ion battery market, where AESC enjoys the maximum revenue share at present.
Key Topics Covered:
2 Executive Summary
3 Market Overview
4 Lithium-Ion Battery Market Analysis, By Material Type
5 Lithium-Ion Battery Market Analysis, By Application
6 Lithium-Ion Battery Market Analysis And Forecast, By Geography
7 Company Profiles
- A123 Systems Llc
- Automotive Energy Supply Corporation (Aesc)
- China Bak Battery Co Ltd
- Ga Yuasa Corporation
- Hitachi Chemical Co Ltd
- Johnson Controls, Inc
- Lg Chem Power, Inc
- Panasonic Corporation
- Samsung Sdi Co Ltd
- Toshiba Corporation
For more information visit http://www.researchandmarkets.com/research/4ggxls/global_lithium
Media Contact: Laura Wood , +353-1-481-1716, [email protected]