PUNE, India, March 4, 2020
PUNE, India, March 4, 2020 /PRNewswire/ -- The Global Lithium ion Battery Market valued at USD 21,850.65 Million in the year 2019 has been witnessing unprecedented growth in the last few years on the back of increasing demand of the automotive vehicles. Lithium ion Battery is the lightest material and low maintenance battery which makes it high in demand. Increasing demand from automotive sector and the demand of sustainable resource among the leading countries is one of the major reasons behind the increasing Lithium ion battery market globally. Additionally, adoption of technologies to improve rechargeable battery is likely to supplement the Lithium ion Battery Market value in the near future.
Among the compounds, Nickel manganese cobalt (NMC) batteries have evolved tremendously as it uses three times less cobalt in newer batteries, replacing the cobalt content with nickel. NMC is expected to dominate the EV sector in the early 2020s.
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Among the end-user in the Lithium ion Battery market (Industry, Electronics and Automotive), automotive is expected to keep growing in the forecast period. The demand of eco-friendly electric vehicles will keep increasing in future.
The APAC market is expected to lead the global market throughout the forecast period owing to the increasing rate of urbanisation in developing nations like Singapore, India and Indonesia. Additionally, support by government and rising demand of consumer electronics and automotive vehicles is expected to infuse market growth tremendously.
Additionally, new investments for industry expansion, massive infrastructure investments and availability of lithium as metal in countries such as China, Japan and South Korea are fuelling the growth of lithium ion battery.
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Key Target Audience- Lithium Ion Battery Vendors and Suppliers- EV Manufacturers- Consulting and Advisory Firms- Government and Policy Makers- Investment Banks and Equity Firms- Regulatory Authorities
Another Related Research Titled Global Lithium-Ion Battery Separator (Lithium Battery Separator) Market Report 2019 - Market Size, Share, Price, Trend and Forecast is a professional and in-depth study on the current state of the global Lithium-Ion Battery Separator (Lithium Battery Separator) industry. The report includes global key players of Lithium-Ion Battery Separator (Lithium Battery Separator) as well as some small players. At least 17 companies are included:
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