The report is titled ‘Lithium Ion Battery Market: Opportunity Analysis and Future Assessment 2020-2028’. An overview of conceptual frameworks, analytical approaches of the lithium ion battery market is the main objective of the report, which further consists of the market opportunity and insights of the data involved in the making of the respective market. The lithium ion battery market is expected to grow at a significant rate in the near future.
The lithium ion battery market size was valued at US$ 45.3 Bn in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 11.7% from 2020 to 2028.
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Lithium Ion Battery Introduction
A lithium-ion battery (LIB) can be perceived as a rechargeable battery-powered that makes use of an interspersed lithium compound as its electrode. A lithium ion battery, which is composed of the cathode, anode, and electrolyte, is a thermochemical storage instrument that does not necessitate an entire discharge in anticipation of recharging. It is distinguished by greater energy frequency, minimum maintenance and reduced self-discharge rates in comparison to its equivalents, for instance, nickel-cadmium batteries. In addition, it also provides an improved energy-to-weight proportion and huge open-circuit voltage.
Lithium Ion Battery Market Dynamics
The massive usage of consumer electronics across the world has majorly propelled the demand of lithium ion batteries across the global markets. Owing to which, the global lithium ion battery market is projected to grow significantly in the years to come. On top of that, the rapid surge in utilization of mobile phones, tablets, laptops, and other electronic devices have allowed lithium ion batteries to accelerate the growth in the demand of the lithium ion battery worldwide. Other than this, on account of the fresh advent of advanced wireless technology majority of the electronics products are electrically powered and henceforth, lithium ion batteries have long standing operations and are more cost effective. Attributing to which, the lithium ion battery market is expected to witness massive breakthroughs in the forthcoming years.
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Lithium Ion Battery Market Segmentation
The global lithium ion battery market is segmented on the basis of type, power capacity, industry, voltage, and region.
Lithium Nickel Manganese Cobalt (LI-NMC)
Lithium Iron Phosphate (LFP)
Lithium Cobalt Oxide (LCO)
Lithium Titanate Oxide (LTO)
Lithium Manganese Oxide (LMO)
Lithium Nickel Cobalt Aluminum Oxide (NCA)
By Power Capacity
0 TO 3,000 mAH
3,000 TO 10,000 mAH
10,000 TO 60,000 mAH
More Than 60,000 mAH
Aerospace and Defense
Low (Below 12 V)
Medium (12 V – 36 V)
High (Above 36 V)
Lithium Ion Battery Market Key Players
The key participating players of the global Lithium ion battery market include BYD Company, LG Chem, Panasonic, Samsung SDI, BAK Group, GS Yuasa Corporation, Hitachi, Johnson Controls, Toshiba, Lithium Werks, CALB, Saft Groupe, VARTA Storage, Farasis Energy, and Sila Nanotechnologies, among others.
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