Market Research Report
Lithium Ion Battery Market By Chemistry, By Component, By Application, Analysis Report, Regional Outlook, Competitive Market Analysis & Forecast, 2020 - 2026
|Published by||Global Market Insights Inc.||Product code||940091|
|Published||Content info||510 Pages
Delivery time: 2-3 business days
|Lithium Ion Battery Market By Chemistry, By Component, By Application, Analysis Report, Regional Outlook, Competitive Market Analysis & Forecast, 2020 - 2026|
|Published: May 25, 2020||Content info: 510 Pages||
The lithium ion battery market is projected to record a substantial growth rate over the coming years owing to the battery technology's growing adoption of consumer electronics, and electric vehicles. Additionally, the surge in demand for smart electronic devices is also likely to drive revenue growth.
A lithium ion battery is a technologically advanced battery technology that utilizes lithium ions as a main component of its electrochemistry. These batteries also utilize several different materials as electrodes. The most basic combination is that of lithium cobalt oxide and graphite, that is mostly found in portable electronic devices like laptops and cellphones.
The other cathode materials are namely lithium iron phosphate, and lithium manganese oxide, these are mainly used in electric automobiles and hybrid electric. Lithium ion batteries have several advantages as compared to other technologies. They are normally much lighter in comparison to other types of rechargeable batteries having the same size.
The electrodes of a lithium ion battery are generally made up of lithium and carbon that are light in weight. Also, lithium is extremely reactive element, which means that energy can be stored in its atomic bonds, further converting into a high energy density for these lithium ion batteries. Additionally, self-discharge is less in comparison to nickel-cadmium, thus making lithium ion appropriate for current fuel gauge applications. These batteries are further capable of handling hundreds of discharge or charge cycles.
Lithium ion battery market is segmented in terms of chemistry, component, application, and regional landscape.
Based on chemistry, the lithium ion battery market is classified into NCA, LTO, LMO, NMC, LFP, and LCO. The LTO chemistry segment will witness growth owing to the growing demand for batteries with wide operating temperature ranges along with high recharging efficiency.
The NCA chemistry segment will witness growth due to the increasing demand for batteries with high energy density and fast charging capabilities, thereby boosting the product deployment. Rising focus toward the adoption of battery units with high voltage profile along with safe operations will boost the market demand for LMO batteries.
In terms of application, the overall lithium ion battery market is categorized into automotive, energy storage, consumer electronics, and industrial. Increasing integration of clean energy sources to meet the rising energy demand will boost the adoption of lithium ion battery across energy storage projects
From a regional frame of reference, ongoing transition toward renewable energy technologies will fuel the product demand across Middle East & Africa region. Rising disposable income along with strong adoption rates of consumer electronics will fuel the product demand across Latin America region.