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Lithium-Ion Battery Market | Exactitude Consultancy Reports

Exactitude Consultancy Latest Published Lithium-Ion Battery Market Research Report by Type (Li-NMC, LFP, LCO, LTO, LMO, NCA), Capacity (0–3,000 mAh, 3,000–10,000 mAh, 10,000–60,000 mAh, 60,000 mAh and above), Application (Consumer Electronics, Automotive, Power, Industrial) and Region (North America, Europe, Asia Pacific, South America, Middle East and Africa), Global trends and forecast from 2020 to 2029 The global lithium-ion battery market is expected to grow at 11.5% CAGR from 2020 to 2029. It is expected to reach above USD 101 billion by 2029 from USD 38 billion in 2020. Based on type, Lithium Iron Phosphate (LFP) product type accounted for the highest share. These batteries have a long-life span and provide excellent product safety. The market for lithium-ion batteries is expected to be driven by rising demand for LFP batteries in stationary and portable devices, which require high load currents and durability. Due to its lower cost, longer cycle life, and higher energy density, lithium nickel manganese cobalt (NMC) will see increased adoption in electric bikes, power tools, and other electric powering trains over the forecast period. This battery provides overall performance, excels at detailed energy, and has a large capacity and power. Based on capacity, the 10,000–60,000 MAh segment held the largest market share. More than 10,000 mAh Li-ion batteries are used in high-capacity applications such as electric vehicles, plug-in hybrid electric vehicles, e-motorcycles, material handling equipment, marine, robots, industrial, telecommunication systems, electronic cash registers, standby power supplies, golf cart vehicles, hybrid trucks, buses, smart grid, aviation industry, automated guided vehicle, yachts, solar backup power, energy storage system (ESS). Based on application, the automotive segment is expected to hold the largest share of the lithium-ion battery market. Lithium-ion batteries are used extensively in battery-powered vehicles such as electric vehicles, e-bikes, and automated guided vehicles. EVs are classified into three types based on their power source and application: battery electric vehicles (BEVs), hybrid electric vehicles (HEVs), and plug-in hybrid electric vehicles (PHEVs) (PHEVs). Adoption and awareness of EVs are increasing, which aids market growth. Automobile OEMs are increasingly relying on just-in-time manufacturing, which is currently affecting their production capabilities as well as overall exports due to supply chain disruptions. Due to global supply chain disruptions caused by lockdowns, automobile manufacturing plants are producing and supplying a limited number of vehicles. This may have an effect on the growth of the lithium-ion battery market. The lithium-ion battery market key players include BYD Company (China), LG Chem (South Korea), Contemporary Amperex Technology Co. Ltd. (CATL) (China), Samsung SDI (South Korea), Panasonic Corporation (Japan), BAK Group (China), GS Yuasa Corporation (GS Yuasa) (Japan), Hitachi (Japan), Clarios (Germany), and Toshiba Corporation (Japan). To Know more: https://exactitudeconsultancy.com/rep... Contact us@ [email protected] Related Reports: Thin-Film Photovoltaic Cell Market - https://exactitudeconsultancy.com/rep... Beam Expander Market - https://exactitudeconsultancy.com/rep...