Lithium ion Battery Market is Estimated to Reach USD 76.80 Billion in 2024 | At a CAGR of 15.4%

As per a Forencis Research latest report, the The global lithium ion battery market is estimated to reach USD 76.80 Billion in 2024 at a CAGR of 15.4%.

The Global Lithium Ion Battery Market is estimated to reach USD 76.80 Billion in 2024 at a CAGR of 15.4%, Predicts Forencis Research.

Increasing adoption of electric vehicles, and growing demand for consumer electronic and portable devices are expected to drive the lithium ion battery market during the forcasting period. Requirement of protection. Safety issues related to transporation and storage of batteries is expected to restrain the market during the forecast period. Increasing renewable energy sector is expected to become an opportunity for global market during the forecast period.

Lithium ion battery is a type of rechargeable battery contains high-energy density and large number of discharged cycles to provide suitable power for various consumer electronic devices and electric vehicles. When lithium ion battery is discharging, lithium ions moves from anode to cathode and when its charging, the ion particals moves in the opposite direction. Some advantages of lithium ion battery are self discharge, low maintainence, high energy density, and varity of type as per requirement.

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This market research report offers a comprehensive analysis of key market trends in the global market. It includes detailed discussion on historical market trends, current market dynamics, consumer landscape, growth opportunities and challenges backed by factful feedbacks.
• On the basis of material, the market is segmented into lithium cobalt oxide(LiCoO2), lithium manganese oxide (LiMn2O4), lithium nickel manganese cobalt oxide (LiNiMnCoO2), lithium iron phosphate(LiFePO4), lithium nickel cobalt aluminum oxide (LiNiCoAlO2), and lithium titanate (Li2TiO3).
• By power capacity, the global market is segmented into 0 to 3000 mAh, 3000 to 10000 mAh, 10000 to 60000 mAh, and more than 60000 mAh.
• On the basis of type, the market is segmented into cylindrical type, prismatic type, button type, and pouch type.
• By end use industry, the market is segmented into consumer electronics, automotive, industrial, and aerospace and defense.

Some key players in the global market are Panasonic Corporation, LG Chemicals Ltd, Samsung SDI Co Ltd, Hitachi Chemicals Co Ltd, and Dalian CBAK Power Battery Co.,Ltd among others.

Key Questions answered by the report
• What are the major developments impacting the global market and its growth?
• What will be the effects of the developments in the global market on the industry and on the market players in the near and far future?
• What are the evolving types of the global market?
• What are the evolving applications of global market?
• What are the major characteristics that will affect the global market growth during the study period?
• Who are the key players operating in the global market?
• How are the major players leveraging in the existing market conditions?

About Forencis Research
Forencis Research is a B2B market research, intelligence and advisory firm engaging in market research and consulting services across leading industries, globally. Our robust and meticulous research team provides high growth and niche syndicated reports, customized reports and consulting reports to the diverse global fortune clientele and intellectual institutions. Forencis Research database is a constantly evolving pool of reports and white paper studies which helps companies to foster accelerated revenue growth in global and regional markets. Forencis Research delivers market research and consulting reports on high growth markets to help companies dominate their competition and set themselves apart by attaining increased revenue growth. To enable exclusive insights around the target market, Forencis Research employs robust research Methodology & Design which includes data acquisition, data synthesis and data correlation, through Primary and Secondary Research. Through the obtained data, Top-down and bottom-up methods are exercised to attain and verify data sanity within the entire market. This market data is yet again correlated with Forencis Research's internal database before presenting it in any of our final publications. These methods of data correlation and amalgamation benefit us to put forward accurate market estimates enabling our clients to transform their business, markets and most importantly their "REVENUES".

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