Global Lithium-ion Batteries Market Overview:
- The
global Lithium-ion Batteries market was valued at US$ 21.3 billion in 2021
and is projected to reach US$ 57.9
billion by 2031, expanding at a CAGR
of 10.8%.
- These
batteries require continuous research and development efforts to achieve
commercial viability, especially in fields like electric vehicles and
renewable energy storage.
Battery Advancements:
- Lithium-ion
Batteries, tested for thousands of cycles, have the potential to store
significantly more energy than traditional lithium-ion batteries, making
them suitable for applications such as electric vehicles and long-haul
trucks.
- Research
by institutions like the Illinois Institute of Technology and Argonne National
Laboratory has led to the development of Lithium-ion Batteries that could
potentially power airplanes and long-haul trucks in the future.
Role of Government Policies:
- Supportive
government policies, incentives, and regulations can accelerate the deployment
of Lithium-ion Batteries, especially in sectors like portable electronic
devices where they offer longer battery life without increasing size and
weight.
- Policies
promoting renewable energy and clean energy technologies may further drive
the adoption of Lithium-ion Batteries, especially in energy storage
applications.
Key Players:
- Major
players in the Lithium-ion Batteries market include Phinergy, EV Dynamics
(Holdings) Limited, Fuji Pigment Co. Ltd., Xinjiang Joinworld Co. Ltd.,
ACTXE Limited, De Nora Tech Inc., Duracell Inc., IBM Corporation,
PolyPlus, and Lithium Air Industries Inc.
Market Growth Drivers:
- Higher
energy density compared to traditional lithium-ion batteries makes Lithium-ion
Batteries attractive for electric vehicles and portable electronics,
driving market growth.
- With
the increasing emphasis on renewable energy sources, efficient energy
storage solutions like Lithium-ion Batteries are becoming essential for
storing excess energy generated from renewables.
- Advancements
in battery technology, particularly based on lithium-air technology, can
extend the range and improve the efficiency of electric vehicles.
Segmentation and Regional Performance:
- Asia
Pacific is expected to dominate the Lithium-ion Batteries market, driven
by increasing demand for renewable energy storage solutions, particularly
in countries like China and India.
- The
market is segmented by type (aprotic lithium-air battery, aqueous
lithium-air battery, mixed aqueous/aprotic lithium-air battery,
solid-state lithium-air battery, and others), capacity, end use, and
region.
Key Developments:
- Lohum
achieved commercial production of pure metallic lithium, a crucial
component for Lithium-ion Batteries, in September 2023, indicating
advancements in battery materials and energy transitions.
- Electric
vehicles powered by Lithium-ion Batteries could potentially travel around
1000 kilometers on a single charge, further highlighting the potential of
this technology.
Customization and Growth Segments:
- The Lithium-ion
Batteries market offers growth opportunities in segments such as utility
energy storage, automotive, defense, consumer electronics, power, and
others.
- Continuous
innovation and development efforts are necessary to address challenges and
unlock the full potential of Lithium-ion Batteries in various
applications.
Conclusion:
- The
global Lithium-ion Batteries market is poised for significant growth
driven by advancements in battery technology, supportive government
policies, and increasing demand for energy storage solutions in sectors
like electric vehicles and renewable energy. Continuous research and
development efforts will be crucial in realizing the full potential of Lithium-ion
Batteries and driving their widespread adoption across various industries.
About Transparency Market Research
Transparency Market Research, a global market research
company registered at Wilmington, Delaware, United States, provides custom
research and consulting services. Our exclusive blend of quantitative
forecasting and trends analysis provides forward-looking insights for thousands
of decision makers. Our experienced team of Analysts, Researchers, and
Consultants use proprietary data sources and various tools & techniques to
gather and analyses information.
Our data repository is continuously updated and revised by a team of research
experts, so that it always reflects the latest trends and information. With a
broad research and analysis capability, Transparency Market Research employs
rigorous primary and secondary research techniques in developing distinctive
data sets and research material for business reports.
Contact Us:
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Blog: https://tmrblog.com
No comments:
Post a Comment