Lithium
Ion batteries were introduced commercially in 1970, which offered
high energy density with low maintenance. The energy density of
lithium-ion is usually twice that of the standard nickel-cadmium.
Some variants of lithium ion battery provide high current density and
are an ideal choice for consumer mobile electronic equipment. Others
provide higher current levels and are suitable for electric vehicles
and power tools.
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Ion Battery Market:
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Lightweight
lithium ion batteries are the best choice for mobility equipment, as
they offer relatively long life span, allow for size customization,
have extended run time when compared to lead acid, are fast charging
and have a low self-discharge rate. Rechargeable lithium-ion
batteries are also used for remote monitoring systems, owing to
characteristics such as long life, small size, and relatively long
stand-by time. Lithium batteries offer a self-discharge rate, which
is 10 times lower as compared to lead acid batteries.
Lithium
Ion Battery Market Taxonomy
On
the basis of material type, the global market is segmented into:
-
Cathode
-
Anode
-
Binders
-
Foils
-
Electrolytic solution
-
Separators
On
the basis of power capacity, the global market is classified into:
-
5–25 Wh
-
18–28 KWh
-
48–95 Wh
-
100–250 KWh
-
More than 300 KWh
On
the basis of application, the global market is classified into:
-
UPS
-
Cars
-
Games
-
Aircraft
-
Mining equipment
-
Smart Grid
-
Smartphones
-
Trucks
-
Gardening tools
Lithium-ion
batteries are used in marine motors, which offer easy handling and
reduced weight as compared to conventional lead acid batteries.
Rechargeable lithium-ion batteries are an excellent choice for solar
panels due to fast recharging ability. Maximum utilization of
potential solar power storage is possible with lithium ion
batteries.
Lithium
Ion Battery Market Outlook – Increasing Demand for Automotive
Applications to be the Major Market Driver
Asia
Pacific is expected to be the most potential market for lithium ion
battery manufacturers. The market in the region is projected to
witness relatively high growth in terms of value over the forecast
period. Rapidly growing automotive industry coupled with increased
demand of batteries for consumer and commercial goods has augmented
the growth of lithium ion battery market in developing countries such
as India and China. According to IBEF, in 2016, the Indian automotive
industry was valued at US$ 31.84 billion. This is further
complemented by 100% FDI permitted by the Indian government in the
automotive sector. This has attracted investors such as Bosch,
Continental Engines, ZF, Aisin Seiki Company, Delphi, FAG, Denso,
Magneti Marelli, WABCO, TRW and Valeo. This trend is expected to be
followed over the forecast period. India Brand Equity Foundation
(IBEF) is a Trust established by the Ministry of Commerce and
Industry, Department of Commerce in collaboration with the Government
of India with the purpose of promoting and creating international
awareness of goods manufactured in India.
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Recharging
capability and high energy density are fueling the demand for lithium
ion battery, especially in Asia Pacific and Middle East regions.
Highly fragmented market is expected to be one of the restraining
factors for the growth of lithium ion battery market over the
forecast period. Furthermore, instances of lithium-ion batteries
randomly exploding, as was the case with Samsung Galaxy Note 7, which
led to abrupt discontinuation and recall of the product, has dented
customer confidence in lithium ion batteries. While, this might be
considered to be a one-off incident, research is currently underway
to develop safer alternative battery technologies, which would
inhibit growth of the lithium-ion battery market. For instance,
researchers at the Dallas University are working on a revolutionary
lithium-air battery technology, wherein oxygen is used as the
oxidizer, rather than the material. This makes the battery up to five
times cheaper and as many times long lasting than conventional
lithium-ion batteries. Product innovation and expansion in various
geographies is a key strategy adopted by the major players in the
lithium ion battery market. Toshiba Corp and Denso Corp are planning
to manufacture automotive lithium ion battery packs. This initiative
includes an investment of INR 1,184 crore and the manufacturing
facility is expected to be set up in Gujarat, India. Some of the
major companies operating in the global lithium-ion batteries market
are LG Chem Ltd., Valence Technology Inc., Saft Groupe S.A.,
Panasonic Corporation, BYD Co. Ltd., Samsung SDI Co., Ltd., BAK
Group, GS Yuasa Corporation, Johnson Controls Inc., Hitachi, Ltd.,
Toshiba Corporation, and A123 Systems, LLC. .
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