Lithium Ion Market Gaining Traction from Automotive Industry
Lithium Ion Battery Market: By Material Type (Cathode, Anode, Electrolytic Solution, Others (Separator, Binder, Foils, & others)) By Application (Electronics, Automotive, Industrial, Others (Energy, Medical, & Military)) & Geography – Forecast (2019 - 2025).”
Lithium Ion Battery Market (2018 - 2023)”
Global Lithium Ion Battery Market: Demand Analysis
In LIB, lithium ion are discharged from negative to positive electrode and back when charging. LIB is type of rechargeable batteries, requires low maintenance and have relatively low self discharge property which makes LIB fastest growing and most capable battery even with powerful tools and software. Lithium cobalt is one of the most common Li-ions, and exhibits high specific energy, becomes a popular choice for electronics like mobile phones, laptops, and digital cameras.
Global Lithium Ion Market: Growth Drivers
Global Lithium Ion Battery Market: Disruptive Trends
Global Lithium Ion Battery Market: Companies Innovation
- Some of the major keyplayers in the market are BYD Company, LG Chem, Panasonic, Samsung SDI, BAK Group, GS Yuasa, Hitachi, Johnson Controls, Toshiba, Lithium Werks, CALB, Saft Groupe, VARTA Storage, Farasis Energy, and Sila Nanotechnologies
- BYD Company is always known for developing electric vehicles that are intelligent and connected. Recently BYD has created a broad range of internal combustion (IC), hybrid and battery-electric passenger vehicle.
- On June, 2018 BYD Company inaugurated their largest 24GWhpower factory in in lithium rich Chinese province. This will increase their total production capacity to 60GWh by 2020.
- With an effort to accelerate move to electric cars, Panasonic and Toyota paired up to produce prismatic lithium ion batteries. This initiative is expected to provide improve safety with less cost for smart cars.
- Hitachi, Ltd. along with the Institute of Multidisciplinary Research for Advanced Materials of Tohoku University indicated successful development of a high safety prototype lithium-ion secondary battery (LIB). This product is capable of resisting increased capacity and energy density of LIB for consumer product and vehicles.
- Sila Nanotechnologies find the innovative chemistry to boost the LIB capacity by up to 70% using silicon. This material allow to reduce anode thickness that in turn permit the battery to be charged as much as nine times as fast.
Lithium ion batteries are less heavy and rechargeable than any other batteries and therefore find its application in almost all industries mostly in smart watches, cellphones. Increased focus of the governments towards reducing greenhouse gas (GHG) emissions is one of the driving factor in LIB market. APAC is developing region with high growth in automation electronics that makes this high market share holder for LIB market.
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By Application (Transportation, Power Tools, Energy Storage) & By Region - Forecast(2018 - 2023)
Lithium Iron Phosphate (LFP) Batteries Market:
Advanced Batteries Market:By Battery Type (Lithium ion, Lithium ion polymer, Nickel-based, Nickel cadmium, Nickel metal hybrid & Smart Nano, Others) By Storage Type (Electrical energy, Mechanical energy, Electrochemical & Others)-Forecast (2018-2023)