TechNavio today launched its report Global Lithium Battery Market 2011-2015 based on an in-depth study covering the Americas, and the EMEA and APAC regions. The report aims to aid decision makers’ understanding of the significant trends impacting this market.
Commenting on the report, an analyst from TechNavio’s Clean Tech team said; ”The Global Automotive market is expected to witness a shift toward Li-ion battery technologies. Currently, the Global Automotive market is focused on lead-acid and nickel-metal hydride (NiMH) batteries for electric vehicles (EVs) and hybrid electric vehicles (HEVs). Within five years huge numbers of HEVs and plug-in hybrid electric vehicles (PHEVs), and all EVs are expected to run through Li-ion batteries, and this will create high growth potential for the Global Lithium Battery market. Further, after its successful applications in the consumer electronics appliances, the lithium battery has been adapted into industrial applications, and it has also emerged as a preferred power source for cordless power tools and specific military and medical equipment. Based on these developments, lithium batteries have entered into the Global Automotive market to power HEVs and EVs. In the coming years, it is expected that Li-ion batteries can be well established in powering alternative vehicles. These future growth prospects of lithium batteries in the EV industry are one of the major upcoming trends in the Global Lithium Battery market.”
According to the report, the variety in the applications of lithium batteries is one of the major factors driving the Global Lithium Battery market. Lithium batteries are used as disposable batteries in various fields such as toys, cameras, clocks, flash lights, and portable music systems. The batteries have a prospect in the EV industry in the coming years. Further, lithium batteries are less pollutant compared to other vehicle battery technologies, such as lead-acid and nickel-metal hydride (NiMH) batteries. Additionally, another benefit of the lithium batteries is that they have the longest battery life, which leads to fewer batteries going to landfills. All these benefits together act as a major growing factor for the Global Lithium Battery market.
Further, the report also discusses that one of the key challenges in the market is the functional limitation of lithium batteries.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key players.
TechNavio, the market research platform of Infiniti Research Ltd, publishes periodic reports on niche and emerging technologies. For further information, please visit https://www.technavio.com/content/global-lithium-battery-market-2011-2015
Follow us on Twitter @ Technavio
TechNavio Announces the Publication of its Report – Global Lithium Battery Market 2011-2015
