TechNavio recognizes the following companies as the key players in the Global Lithium-ion Battery Market: LG Chem Ltd., Panasonic Corp., Samsung SDI Co. Ltd., and Sony Electronics Inc.
Commenting on the report, an analyst from TechNavio’s team said: “The increased variety of applications for Li-ion batteries is another major factor that is currently influencing the growth of the Global Li-ion Battery market. Li-ion batteries have diverse applications spanning various fields. They are used in different sectors such as the Consumer Electronics, Industrial, and Automotive sectors, which include cell phones, laptop PCs, power tools, industrial cranes, gardening machines, electric bikes, electric scooters, tablets, medical devices, UPS systems, electric automobiles, and transit buses. Thus, the increasing demand for Li-ion batteries from various sectors is one the driving factors influencing the growth of the Global Li-ion Battery market.”
According to the report, the growth of the Global Li-ion Battery market is driven by several factors, one of which is the cost-effectiveness of Li-ion batteries. The raw materials used in the manufacture of these batteries are more affordable than those used in other batteries such as nickel batteries.
Further, the report states that one of the major challenges in this market is the high cost of Li-ion batteries. The cost of Li-ion batteries is four to eight time higher than that of lead acid batteries and four times higher than that of NiMH 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 vendors. For further information on this report, please visit https://www.technavio.com/report/global-lithium-ion-battery-market-2012-2016
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/energy
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TechNavio Announces the Publication of its Research Report -Global Lithium-ion Battery Market 2012-2016
