The “Lithium-Ion Battery Market – Forecasts from 2019 to 2024″ report has been added to ResearchAndMarkets.com’s offering.
Global lithium-ion battery market is estimated to witness a CAGR of 15.33% to reach US$80.392 billion in 2024 from US$34.163 billion in 2018.
Lithium-ion batteries are rechargeable, lightweight, high energy density batteries that have high capacity and efficiency than other batteries. They are widely applied in diverse areas ranging from small appliances and IT devices to power tools, energy storage systems and etc. With renewables and clean sources forming a vital part of the global energy mix, the lithium-ion batteries are continuously evolving in the overall energy cosmos.
Burgeoning demand for these batteries across industries such as automotive and electronics are the key driving factor that is boosting the lithium-ion battery market growth. The market is expected to grow at a good pace owing to its increased industrial applications and rising investments in the renewable energy sector that is expected to accelerate the demand for Li-Ion batteries.
The Asia Pacific is expected to be a high growth rate market owing to growing automobile and electronic manufacturing.
Post time: Jul-15-2019