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Need for Efficient Battery Backup for Electronic Devices to Boost Deployment of Lithium Ion Batteries

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Published on : Nov 01, 2016

ALBANY, NY, Nov 01, 2016: The report is titled, “Global Lithium Ion Battery Market 2016-2020.” The report presents an overview of the historical growth trajectory, current scenario, and future growth opportunities of the global lithium ion battery market along with the predominant trends. 

The study further presents an analysis of the dynamics that are likely to impact the growth of the global lithium ion battery market in a negative or positive manner. The report also estimates the revenue and volume growth of the market. To offer a clear picture of the global lithium ion battery market, the study utilizes Porter’s five forces analysis and presents an understanding of the competitive landscape of the market. 

According to the report, the global lithium ion battery market is expected to expand at a CAGR of over 15% between 2016 and 2020. The research report recognizes the change in the power grid structure as one of the key factors driving the growth of the global lithium ion battery market. The rising concerns regarding greenhouse gases emissions have impelled energy and utilities companies to focus on power generation using low carbon fuels, which requires changes to be made in the grid. 

Numerous energy companies have transformed the existing grid systems through energy storage systems in order to accommodate low carbon emitting devices. Energy storage systems such as lithium ion batteries also help in minimizing the risk of excess or shortage of power generation during hours of high demand in the industrial sector. However, such additions to the grid system are likely to increase complexities, as a result of which the adoption of energy management systems will grow, paving way for lucrative growth opportunities for manufacturers. 

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The growth of the global lithium ion battery can be attributed to the mounting demand from the Chinese EV market for energy backup However, limitations with lithium ion batteries related to air transportation are expected to hinder the growth of the market. On the basis of application, the global lithium ion battery is segmented into energy storage, electric vehicles, and consumer electronics. The application of rechargeable lithium batteries was significantly high in the consumer electronics segment owing to their high deployment in electronics such as digital cameras, mobile phones, tablet, computers, personal computers, notebooks, and laptops. 

Based on product, Li-ion cobalt batteries emerged dominant due to features such as high energy density that help the battery to operate for longer durations. The demand for Li-ion batteries is likely to intensify over the forthcoming years owing to the growing installation in devices such as laptops and smartphones. 

Geographically, the market is segmented into Europe, the Middle East and Africa, Asia Pacific, and the Americas. The rising focus of governments on the reduction of greenhouse gas emissions is likely to push the market for lithium ion battery in Asia Pacific towards a promising growth. As a result of this, Asia Pacific is also projected to retain a lead over the forthcoming years. The rise in investments and advent of advanced technologies is anticipated to intensify the competition among the players in the market during the forecast period. Some of the leading vendors are A123 Systems, Toshiba, Samsung SDI, LG Chem, Automotive Energy Supply Corporation, and Panasonic Industrial Devices. 

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