Lithium-Ion Battery Market Set for Rapid Growth, to Reach around USD 67.70 billion by 2022

Zion Market Research has published a new report titled "Lithium-Ion Battery Market by Power Capacity Segment, Lithium-Ion Battery Market Has Been Segmented Into 5–25 WH, 48-95 WH, 18–28 KWH, 100–250 KWH And More Than 300 KWH for Include Automotive, Aerospace and Defense, Consumer Electronics, Industrial And Others Application - Global Industry Perspective, Comprehensive Analysis and Forecast, 2016 – 2022." According to the report, global lithium-ion battery market was valued at around USD 31.17 billion in 2016 and is expected to generate revenue of USD 67.70 billion by end of 2022, growing at a CAGR of slightly above 13.70% between 2017 and 2022.

A lithium ion battery is an electric device capable of charging and discharging. They are broadly used as a power supply consumer electronics as well as hybrid and electric vehicle. The four materials are used in lithium ion batteries are cathode material, anode material, separators, and an electrolytic solution. Lithium ion batteries markets grow at fastest rate due to its adoption in numerous consumer electronics such as smartphones, tablets, digital cameras and MP3 players, among others. Lithium-ion (Li-ion) batteries are one of the most popular batteries in the world due to the worldwide use of mobile phones and laptop computers. Furthermore, the demands for Li-ion batteries in the automobile industry due to increasing demand for electric vehicles.

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The lithium-ion battery market is segmented by its power capacity into 5–25 Wh, 48-95 Wh, 18–28 KWh, 100–250 KWh and More than 300 KWh. 5-25 Wh segment is one of the leading segments of lithium-ion battery market which is accounted for over 32% of the total market in terms of revenue. 18-28 KWh segment is anticipated to grow at a significant rate within the forecast period.

A range of applications segments of lithium-ion battery market includes automotive, aerospace and defense, consumer electronics, industrial and others. Consumer electronics is the leading segments of lithium-ion battery market and accounted for the largest market share of the total market. This segment is expected to continue its dominance in the global market throughout the forecast period due to growing demand smartphone, tablet, and laptop. Automotive and industrial are other key outlets of the market and expected to exhibit significant growth within the forecast period.

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Asia Pacific was projected to the fastest growing region due to the growing economies in the region such as China, Japan, South Korea, and India, among others. Demand for the lithium-ion battery was expected to the highest in North America. Europe is expected to grow at significant rate in the forecast period.

Some of the key players in the lithium-ion battery include Panasonic Corporation, Hitachi Chemical Co. Ltd., BAK Group, Johnson Controls, Inc., Samsung SDI Co. Ltd., LG Chem Power, Inc., Toshiba Corporation., A123 Systems, LLC., Saft Groupe SA, GS Yuasa Corporation, Automotive Energy Supply Corporation (AESC), BYD Company Ltd., Valence Technology, Inc. and among others.

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