Lithium Ion Battery Market Worth $76 Billion by 2026, Says Global Market Insights, Inc.

SELBYVILLE, Delaware, May 27, 2020 /PRNewswire/ -- Global lithium ion battery market value is poised to cross USD 76 Billion by 2026, as reported in the latest study by Global Market Insights, Inc. Lithium ion battery industry is set to witness a substantial growth over the forecast timeline on account of ongoing transition toward electric mobility coupled with increasing adoption of consumer electronics. In addition, growing emphasis on increasing the share of renewable across the energy portfolio will further propel the market demand over the forecast timeline.

Li-on battery market from LCO will witness a steady growth on account of its high specific energy and ease of fit across multiple electronic devices. Major components of LCO include graphite carbon cathode and cobalt anode, which enable efficient energy conversion & storage and high applicability across multiple electronic goods & equipment. However, low thermal stability, short life span and limited load capabilities are some of the factors which may hinder the deployment of LCO battery chemistries.

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Lithium ion battery market from anode-based batteries is anticipated to witness a moderate growth on account superior thermal conductivity and corrosive resistance in artificial graphite type anode. Anode active materials include amorphous and meso-phase carbon, artificial and natural graphite, and silicon & tin oxides amongst others. These compounds provide good thermal conductivity, which compliments the product adoption over other alternatives on account of its reliable operation.

Some major findings in lithium ion battery market report include:

• High energy density and longer shelf life compliments the product adoption over other alternatives.
• Ongoing transition toward renewable energy generation technologies will fuel the product demand as an energy storage device.
• Key players in lithium ion battery market include Lithium Werks, Padre Electronics Company Ltd., Ding Tai Battery Company Ltd., EaglePicher Technologies, LLC, Akku Tronics New Energy Technology Co., Duracell, Inc., Roofer Technology Co. Ltd., Energus Power Solutions, Ltd., ProLogium Technology Co. Ltd., amongst others.
• Increased consumer spending toward smart electronic devices will create a cyclical demand for lithium ion batteries.

Browse key industry insights spread across 510 pages with 702 market data tables & 50 figures & charts from the report, "Lithium Ion Battery Market Analysis By Application (Industrial {Military, Industrial Equipment, Medical, Marine, Telecommunication, Forklifts, Mining, Others}, Automotive {Hybrid Electric Vehicles, Battery Electric Vehicles}, Consumer Electronics {Smartphones, Laptops, UPS Systems, Smart Cameras, Smart Watches, Smart Glasses, Smart Textiles, Activity Trackers, Others}, Energy Storage), Chemistry (LFP, LCO, LTO, NMC, NCA, LMO), Component (Cathode, Anode, Separators, Electrolytes, Aluminium Foil, Copper Foil, Others), Analysis Report, Regional Outlook, Competitive Market Analysis & Forecast, 2020 – 2026" in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/lithium-ion-battery-market

Rising energy demand from various industries along with ongoing investments toward the adoption of clean energy sources will boost the adoption of lithium ion batteries across the industrial sector. Respective governments have obligated the industry participants to diversify their energy consumption, most notably from renewable sources due to concerns pertaining to rising emission levels. In addition, concerns toward decreasing the operational expenditure have resulted in the adoption of light EVs & forklifts to carry out operations within the industrial complex which will further fuel the product demand.

Europe lithium ion battery market will witness strong growth owing to growing penetration of electric vehicles. Major countries across the region have announced targets to cut carbon emissions across key economic sectors including power generation and transportation which will positively impact the industry growth. Introduction of supportive policies towards adoption of renewable energy systems will further propel the product demand over the forecast timeframe.

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https://www.gminsights.com/industry-analysis/traction-battery-market

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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SOURCE Global Market Insights, Inc.