Albany, New York (PRWEB) July 21, 2014
Global Lithium Ion Battery Market - Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2013 – 2019, the report by Transparency Market Research provides invaluable insights about the current trends and future growth aspects in the global li-ion battery market during the period 2013 to 2019, the forecast period of the report.
According to the report, the global lithium ion battery market, which was worth nearly USD 11.70 billion in 2012, could grow year-on-year at a CAGR of 14.4% during the forecast period to reach market value worth nearly USD 33.11 billion by 2019. The major growth constraints for the industry during the forecast period are estimated to be the rise in demand and the huge potential of li-ion batteries in the field of consumer electronics, automobiles and industrial sector. Asia Pacific was the major consumer segment for the market in 2012.
Title: Lithium Ion Battery Market - Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2013 – 2019
Published: 27 November 2013
Price: US$ 4,795.00
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Lithium-ion batteries have huge demand in EV, HEV, energy, military and medical fields. The constant demand from these fields is the major growth factor for the market. According to the report, the rising outcry for reducing the global output of carbon emissions and indictment of stringent government rules and regulation for the same, particularly in regions such as North America, China and Europe, are also supportive to the global lithium-ion battery market.
On the other hand, factors such as longer lifecycle of lithium-ion batteries than nickel cadmium, lead nickel and nickel metal hydride batteries have resulted in a continuous demand from a variety of industries. However, factors such as high prices and risks of overheating are some factors that could hinder the growth of this market in the coming times, adds the report. Application-wise, the consumer sector held the largest market shares, followed by the automotive sector in 2012. This sector is expected to maintain its lead during the forecast period as well owing to the huge applications of lithium-ion batteries in consumer electronics such as cell phones, smart phones, tablet computers, digital cameras, etc. Other emerging application areas such as military, energy production and the medical industry also offer huge growth potentials to the lithium-ion battery market.
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Geography-wise, the Asia Pacific region currently accounts for the major shares of this market, an estimated 49% in 2012. Demand from China and Japan is the major reason driving the growth of li-ion battery market in this region. The report mentions that the region of North America could observe the fastest market growth, at an estimated CAGR of 15.5%, during the forecast period. This region has been a pioneer in the adoption of lithium-ion batteries in the past.
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