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World Lithium-ion Battery Market
Frost & Sullivan, June 2010, Pages: 115
This Frost & Sullivan research service titled World Lithium-ion Battery Market provides overall market growth, revenue analysis, market share analysis, competitive structure, industry challenges, drivers, restraints, and pricing trends. In this research, Frost & Sullivan's expert analysts thoroughly examine the following applications: consumer, industrial, and automotive.
Market Overview
Industrial Applications Hold Huge Potential for Lithium-ion Battery Market
Lithium-ion batteries’ inherent advantages of high energy density, light weight, and improved performance have popularized the product in industrial and automotive applications, with automotives expected to account for the largest share of revenues by 2015. The increasing demand for cordless power tools and data communication equipment as well as the requirement in renewable utilities has substantially hiked the sales of lithium-ion batteries. Many governments offer tax credits and incentives to buyers of hybrid electric vehicles (HEVs) and EVs, which make them affordable and raise the adoption rates of lithium-ion batteries. “Increasing unit volumes of HEVs and EVs could also decrease the prices of these batteries,” says the analyst of this research. “Widespread usage of vehicles powered by efficient lithium-ion batteries will lower greenhouse emissions to large extent, thereby reducing global warming considerably.” Investors are channelling resources into this market for developing the most suitable lithium-ion battery that will make HEVs and EVs as powerful as conventional vehicles.
The consumer application market is also highly competitive, with large unit volumes and price wars. Hence, most battery manufacturers prefer to expand in the automotive and industrial segments. Even though lithium-ion batteries have features that attract automobile customers, it is a relatively new technology. It is yet to prove its reliability and safety when used in automotive and industrial applications, which require the battery to be rugged and withstand wide temperature ranges. “Lithium-ion batteries are reaching market maturity in the consumer applications segment, however, due to the strong demand for consumer applications, production facilities are expanding and the participants are improving their manufacturing capability to meet the growing demand,” notes the analyst. “Owing to this strong demand-supply ratio, this market is witnessing high unit volume growth and revenue generation.”
Application Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
- Consumer
- Industrial
- Automotive
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