Lithium-ion Battery Market Size USD 129.3 Billion By 2027 At A CAGR of 18.0% | Valuates Reports

Lithium-ion Battery Market Size USD 129.3 Billion By 2027 At A CAGR of 18.0% | Valuates Reports BYPRN EUROPEAN NON-DISCLOSURE SECTORS,METALS & MINING9:30 AM ET 11/27/2020 BANGALORE, India,Nov. 27, 2020/PRNewswire/ -- TheLithium-Ion Battery Marketis segmentedby Component(Cathode, Anode, Electrolytic Solution, and Others),End-use Industry[Electrical & Electronics (Smartphones &Tablet/PC, UPS, and Others) andAutomotive(Cars, Buses, &Trucks; Scooters & Bikes;and Trains & Aircraft), andIndustrial(Cranes & Forklift, Mining Equipment, and Smart Grid & Renewable Energy Storage). It also covers Global Opportunity Analysis and Industry Forecast to 2027. This report is published onValuates Reportsin theChemical IndustriesCategory. The global lithium-ion battery market was valued at USD 36.7 billion in 2019 and is projected to hit USD 129.3 billion by 2027, at a CAGR of 18% from 2020 to 2027. Major factors driving the growth of lithium-ion battery market size are growing R&D initiatives, increasing consumer electronics adoption, increasing demand for plug-in vehicles, rising need for automation, and battery-operated material-handling equipment in industries. Advocacy for public and private investment in hybrid cars and electric vehicles has resulted in an increase in research and development (R&D) aimed at producing more efficient and cost-effective lithium-ion batteries. This high level of interest has also led to a rapid expansion of the battery production capacity and has resulted in overcapacity and fragmentation in the Lithium-ion battery market. Inquire For Sample:https://reports.valuates.com/request/sample/ALLI-Manu-1G27/Lithium_ion_Battery_Market TRENDS INFLUENCING THE LITHIUM-ION BATTERY MARKET SIZE The recycling initiative that has been started is expected to increase the lithium-ion battery market size. Recycled Li-ion batteries are expected to protect the supply of raw materials, such as lithium and cobalt, and to reduce the dependency on mining and processing materials from natural resources. The recycling of lithium-ion batteries currently used in electric vehicles offers an excellent opportunity for companies to use the refined constituent materials to manufacture lithium-ion batteries to be used in energy storage systems (ESS). Li-ion batteries can be recharged hundreds of times and are more stable. They seem to have a higher energy density, voltage power and lower self-discharge rates than other rechargeable batteries. This increases power efficiency as a single cell has more charge retention than other forms of batteries. These features are, in turn, expected to fuel the growth of the Li-ion battery market size. Electrical Vehicles, Large-scale energy storage and stationary standby applications such as UPS and switchgear & control are expected to drive Lithium-ion battery market size. View Full Report:https://reports.valuates.com/market-reports/ALLI-Manu-1G27/lithium-ion-battery LITHIUM-ION BATTERY MARKET SHARE ANALYSIS Asia-Pacificregion is expected to hold the largest Lithium-ion battery market share. This dominance of theAsia Pacificregion is an attribute to the growing technological changes and increasing government emphasis on reducing greenhouse gas emissions. The area also has a well-established infrastructure that allows for faster adoption of advanced technologies. In addition, the increasing number of manufacturers supplying lithium-ion batteries at relatively lower prices is another major driver of the growth of the lithium-ion battery market in the region. North Americais expected to see considerable growth over the projected period due to increasing consumer electronics and automobile sales across countries such asthe United StatesandMexico. The rising demand for lithium-ion batteries in cell phones due to improved performance and extended battery life is expected to drive the Lithium-ion market size in the North American region.EuropeandNorth Americaare major consumer segments due to a high degree of recognition of the need for energy-efficient batteries. Inquire For Regional Report:https://reports.valuates.com/request/regional/ALLI-Manu-1G27/Lithium_ion_Battery_Market ABOUT US: Valuates offers in-depth market insights into various industries. Our extensive report repository is constantly updated to meet your changing industry analysis needs. Our team of market analysts can help you select the best report covering your industry. We understand your niche region-specific requirements and that's why we offer customization of reports. With our customization in place, you can request for any particular information from a report that meets your market analysis needs. To achieve a consistent view of the market, data is gathered from various primary and secondary sources, at each step, data triangulation methodologies are applied to reduce deviance and find a consistent view of the market. 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