Speak directly to the analyst to clarify any post sales queries you may have.
FEATURED COMPANIES
- BYD
- LG Chem
- Maxell Holdings
- Panasonic
- SAMSUNG SDI
Speak directly to the analyst to clarify any post sales queries you may have.
The shift of the automotive industry toward EVs (electronic vehicles) has been one of the growth factors in the prismatic lithium-ion battery market during the forecast period. Factors such as rising environmental concerns & increasing GHG emissions globally have driven countries to rethink the use of fossil fuels in transportation. The increase in adoption of electronic vehicles, will positively affect the growth of the prismatic lithium-ion battery market during the forecast period. Vendors in the market are therefore increasing their efforts to produce more prismatic lithium-ion batteries due to a growth in demand from the automotive industry. The growing demand in sales of EVs has driven the growth of the global prismatic lithium-ion battery market at a CAGR of over 7% during the forecast years.
Market Overview
Shift of the automotive industry toward EVs
The increased GHG emissions and rising environmental concerns globally have driven countries to rethink the use of fossil fuels in transportation. Many countries are setting targets regarding the sale of EVs. Governments have introduced several incentives for vehicle owners to increase the adoption of EVs. The key vendors are increasing their efforts to produce more prismatic lithium-ion batteries catering to the growing demand from the automotive industry.
Competition from other batteries
There is a high cost of production compared with other batteries such as lead-acid and NiMH batteries. Therefore, the cost advantages and availability of numerous substitues affect the adoption of prismatic lithium-ion batteries, thereby affecting the growth of the market.
Competitive Landscape
The prismatic lithium-ion battery market is moderately concentrated owing to the presence of several market players. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
FEATURED COMPANIES
- BYD
- LG Chem
- Maxell Holdings
- Panasonic
- SAMSUNG SDI
FEATURED COMPANIES
- BYD
- LG Chem
- Maxell Holdings
- Panasonic
- SAMSUNG SDI
The following companies as recognised as the key players in the global prismatic lithium-ion battery market: BYD, LG Chem, Maxell Holdings, Panasonic, SAMSUNG SDI.
Commenting on the report, an analyst from the research team said: “The latest trend gaining momentum in the market is the declining prices of lithium-ion batteries, this coupled with the increased need for ESS due to the rapidly increasing deployment of renewables, will contribute to the growth of the ESS market which will subsequently drive market growth.”
According to the report, one of the major drivers for this market is the demand from the automotive industry for prismatic lithium-ion batteries. This coupled with increased sales of EVs, will be driving the sales of prismatic lithium-ion batteries, thereby contributing to the growth of the market.
Furthermore, the report states that one of the major factors hindering the growth of this market is the cost advantages and availability of numerous substitutes affect the adoption of prismatic lithium-ion batteries, thereby affecting the growth of the market.
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.
A selection of companies mentioned in this report includes:
- BYD
- LG Chem
- Maxell Holdings
- Panasonic
- SAMSUNG SDI
