In a recent published report, Kenneth Research has updated the market report for Lithium-Ion Battery Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Lithium-Ion Battery Market products.
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Moreover, the median health expenditure per capita recorded in the high-income, upper-middle income, and low & lower-middle income countries, recorded to be over USD 2,000, USD 400, and USD 100 respectively. Additionally, in the same year, the spending on health in high-income countries and in the low- and middle-income countries comprised approximately 8.2% and 6.3% of the GDP respectively.
According to a report by the World Health Organization (WHO), the total health spending is growing with an annual average rate of 6% in the low- and middle-income nations, and close to 4% in the high-income countries. Further, in the year 2016, the expenditure made on health reached close to 10% of the GDP of the world and crossed a value of USD 7 trillion.
Global Lithium-Ion Battery Market is estimated to reach $56 billion by 2024; growing at a CAGR of 10.6% from 2016 to 2024. Lithium-Ion batteries are primary batteries in which lithium compound acts as an anode. These batteries have a potential to achieve very high energy and power densities in high-density battery applications such as automotive and standby power. A lithium cell can produce voltage from 1.5 V to about 3 V based on the types of materials used. Lithium-ion (Li-ion) batteries have gained popularity as the power or energy source portable electronics to electric vehicles. Increased adoption of smartphones, tablets, and digital cameras among individuals pose an increased lithium-ion battery market trends.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Surge in demand for electronic devices, strict government regulations to control increasing pollution, and growing demand for smartphones are the major driving factors of the global lithium-ion battery market. However, high cost and risk of fire in electronic devices may hinder the market growth. Growth in automobile industry would increase the demand for lithium-ion batteries.
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Material type, industry vertical, and geography are the major segments of the global lithium-ion battery market. The market by type is further segmented into cathode, anode, electrolytic solution, and others. Industry vertical segment include electronics, industrial, automotive, and others.
By geography, the global lithium-ion battery market is bifurcated into North America, Europe, Asia-Pacific and RoW. The U.S., Mexico and Canada are covered under North America wherein Europe covers UK, France, Germany, and others. Asia-Pacific covers China, India, Japan, and others. RoW covers South America, Middle East and Africa.
Major companies operating in the lithium-Ion battery market are Automotive Energy Supply Corporation, Samsung SDI Co. Ltd., A123 Systems, LLC., LITEC Co., Ltd., Panasonic Corporation, Toshiba Corporation, LG Chem Power (LGCPI), Hitachi Chemical Co., Ltd., GS Yuasa International Ltd., and China BAK Battery Co. Ltd., and among others.
The key takeaways from the report
The report will provide detailed analysis of Lithium-Ion Battery Market with respect to major segments such as material type, and industry vertical
The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024. Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report. An exhaustive regional analysis of Lithium-Ion Battery Market has been included in the report.
Profile of the key players in the Lithium-Ion Battery Market, will be provided, which include key financials, product & services, new developments and business strategies.
Scope of Lithium-Ion Battery Market
Material Type Segments
Industry Vertical Segments
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