- The key vendors in the global Li-ion battery market for EVs 2015-2019 are A123 Systems LLC, Automotive Energy Supply Corporation (AESC) Co. Ltd., Hitachi Ltd., LG Chem Ltd., Panasonic Co, Samsung SDI Co. Ltd. and Toshiba Corp.
London, 22 April 2015: TechNavio, an independent tech-focused global research firm, has announced the publication of its market research report on the global Li-ion battery market for EVs 2015-2019. Availability of different types of Li-ion batteries is one of the latest trends emerging in this market. Various types of Li-ion batteries are available in the market depending on the application. End-users choose Li-ion batteries suitable for their own requirements. The global Li-ion battery market for EVs is expected to grow at a CAGR of 31.1% during the forecast period of 2014-2019.
The high growth of this market is mainly attributed to the increased demand for EVs from OEMs and the EV aftermarket. EVs make use of electric power, which is relatively economical in comparison to fossil fuels. In addition, the use of EVs is significant to countries seeking to decarbonize their transportation sector in the long run.
“The manufacturing process of LiFePO4 batteries involves extensive research. Therefore, the investment required for developing these batteries is also high,” says Faisal Ghaus, Vice President of Technavio Research.
“China, Japan, and South Korea are the leading producers of LiFePO4 batteries because the governments in these countries are lending a lot of support to the development of eco-friendly and green technology.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3E%3Cspan%20style%3D%22line-height%3A%201….
