Global Lithium-ion Battery Market By Type (Lithium Nickel Manganese Cobalt (Li-NMC), Lithium Iron Phosphate (Li-IP), Lithium Cobalt Oxide (Li-CO), etc.), By End User, By Region, Competition Forecast and Opportunities, 2011 – 2021

NEW YORK, July 20, 2016 /PRNewswire/ — Lithium-ion battery is an energy storage device capable of charging and discharging. In comparison to traditional battery technologies, they are capable of providing significantly high performance. Consequently, lithium-ion battery is being increasingly used as a power supply source for consumer electronics as well as for hybrid and electric vehicles. Reviving global economic conditions, rising disposable income, growing levels of pollution and surging demand for quality & uninterrupted power are few of the major factors anticipated to boost demand for lithium-ion battery during 2016 – 2021. Moreover, increasing portable and stationary energy storage demand and escalating number of solar & wind projects are some other factors expected to impart growth in lithium-ion battery market over the next five years. Globally, demand for energy registered a y-o-y growth of 2.3% in 2014. Moreover, the energy demand is expected to increase from 12928.4 Million Ton Oil Equivalent (MTOE) in 2014 to 17,000 MTOE by 2020. Consequently, adoption of lithium-ion battery is expected to witness robust growth due to its various advantages such as cost efficiency, high energy density, high response time, better safety and long life cycle.

SOURCE Reportlinker

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