Global Lithium Battery Market Overview:
Lithium batteries are mostly rechargeable and portable batteries with high energy density and light weight in nature. Lithium batteries market is expected to mark significant growth over forecasted period owing to increasing used on smart phones tablets/PCs, digital cameras and technological advancement. Lithium batteries act as key components in smart grids and renewable energy that used for energy storage systems (ESS). There has been significant rise in production of lithium battery from 30 GWh per year today to 200 GWh with within the next few years, the future for lithium battery looks promising. This result in rising popularity of fundamental techniques and escalating need for energy storage technologies may trigger demand and help in industry expansion. According to AMA, the Global Lithium Battery market is expected to see growth rate of 17.3% and may see market size of USD81441.6 Million by 2024.
- Increase in Number of Lithium Battery in Energy Storing Devices, for Example in Industrial and Household Units.
- Rapid Utilization of Lithium Ion Batteries in Transportation as its a Substitute of Fuel.
- Rising population and high financial investments
- Collaboration and Tie Up Of Leading Players
- Less Awareness about Lithium Battery Hampers the Global Market.
- High Cost Associated With in Lithium Battery Market.
- Technological Advancements in the Field of Lithium Battery such as Power Technology Leads to Grow the Market.
- Upsurge Demand of Lithium Batteries in Consumer Electronics Products.
- Lack Of Charging Stations Of Lithium Battery Are Anticipated The Challenge The Market.
- Adverse Impact Due to Safety Concerns regarding Overheating.
Some of the key players profiled in the report are BYD Company (China), LG Chem (South Korea), Panasonic (Japan), Samsung SDI (South Korea), BAK Group (China), GS Yuasa (Japan), Hitachi (Japan), Johnson Controls (Ireland), Toshiba (Japan) and Lithium Werks (The Netherlands. Additionally, following companies can also be profiled that are part of our coverage like CALB (China), Saft Groupe, (France), VARTA Storage (Germany), Farasis Energy (California) and Sila Nanotechnologies (California). Analyst at AdvanceMarketAnalytics see United States Players to retain maximum share of Global Lithium Battery market by 2024. Considering Market by Power Capacity, the sub-segment i.e. 48 95 Wh will boost the Lithium Battery market.
In November 2019, SolarEdge Technologies, Inc. acquired Kokam Co., Ltd. This acquisition is beneficial in providing batteries and energy storage solutions that enabled the seamless integration with latest solutions and smarter solar installations.
In Feb 2019, Siemens launched Junelight lithium home energy storage systems which are beneficial in providing battery-based energy storage systems for private households. It also offers Real-time monitoring through a mobile App with a better speed capacity.
According to IATA Dangerous Goods Regulations (DGR), its provide a smart luggage regulation, where the baggage are exhibits with lithium battery and used to address the carriage of lithium battery-powered devices such as cargo tracking devices and temperature data loggers.
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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The top-down and bottom-up approaches are used to estimate and validate the size of the Global Lithium Battery market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Lithium Battery market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Lithium Battery Manufacturers, Lithium Battery Traders, End-Use Market Participants of Different Segments of Lithium Battery, Government and Research Organizations, R&D Institutions and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.