London, 23 July 2015: Technavio, the independent tech-focused global research firm, has published a report on the global Li-ion battery market 2015-2019, which is expected to grow at a CAGR of 11.9% during the forecast period of 2014-2019.
The decreasing cost of Li-ion batteries is expected to boost growth in this market. The cost for Li-ion batteries is decreasing because of the increase in the number of end-user applications. Increasing usage of Li-ion batteries in applications such as battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), hybrid electric vehicles (HEVs), uninterruptible power supplies (UPS), forklifts, consumer electronics, and backup power supplies will aid in bolstering the prospects of growth in this market.
“The availability of charging stations plays a major role in the demand for battery-operated vehicles. The European government is investing in charging stations to increase sustainability of battery-operated vehicles in this region. The availability of charging station plays a major role in the demand for battery-operated vehicles,” says Faisal Ghaus, Vice President of Technavio.
“The success of EVs mainly depends upon the battery performance and the charging infrastructure. EVs need more charging stations to overcome charging problems, and to reassure customers, about where they can charge their vehicles.”
Key Market Drivers:
- Decreasing Cost of Li-ion Batteries.
- Advances in Technology.
- Widening Application Base of Li-ion Batteries.
- Growing Internet Connectivity.
Key Market Trends:
- Growing Li-ion Battery Production in China.
- Decline in Crude Oil Prices Will Have Less Impact on EV Sales in US.
- High Investment in LiFePO4 Manufacturing Plants.
- Increasing Investment in Charging Infrastructure.
Key Market Vendors:
- A123 Systems
- AESC
- Blue Energy
- BYD
- China BAK Battery
- Coslight
- GS Yuasa
- Johnson Controls
- Hitachi
- Kokam
- LG Chem
- Li-Tec
- NEC
- Panasonic
- Samsung SDI
- SK Innovation
- Sony
- Tianjin Lishen Battery
- Toshiba
To define the market circumstances 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%3EIf%20you%20are%20interested%20in%20more%…
