- The key vendors of the Global Lithium Ion Battery Market 2015-2019 are LG Chem Ltd, Panasonic Corp., Samsung SDI Co. Ltd and Sony Electronics Inc.
London, 16 December 2014: TechNavio, an independent tech-focused global research firm, has announced the publication of its market research report on the Global Lithium Ion Battery Market 2015-2019. Advances in technologies over the years have resulted in a corresponding increase in the adoption of consumer electronics devices worldwide. Electronic devices lose their battery power in a shorter time and, therefore, require frequent charging. As a result, there is increased need for efficient and durable rechargeable batteries, which has led to the growth of the Global Li-ion Battery market. The Global Li-ion Battery market is expected to grow at a CAGR of 13 percent during the forecast period of 2015-2019.
The growing fuel crisis and increased concerns vis-à-vis environment have forced automotive manufacturers to shift their attention toward alternative cleaner sources of transportation such as use of battery-operated cars. Demand for Li-ion batteries is expected to increase in the near future because of features such as high energy density and light weight, which help reduce battery space and weight of the vehicle.
“The price of li-ion batteries is reducing year-on-year, which is encouraging EV manufacturers to invest more in EVs,” says Faisal Ghaus, Vice President of TechNavio Research.
“Governments worldwide have shifted their focus toward green technologies with the aim of reducing carbon emissions.”
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.
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