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Report: Lithium-ion battery market to be worth $22billion by 2020

wondered about the hottest new industries that are going to shape the way we live over the next decade? Well, if a new report is to be believed then few industries are going to be more successful than the production of lithium-ion batteries (pictured) for light duty transportation.

According to Pike Research, the market for these batteries will expand from $1.6billion in 2012 to an eye-catching $22billion by 2020.Lithium-ion Battery Pack

It suggests that battery electric cars will dominate the market’s growth as they require much larger battery packs than plug-in hybrid electric vehicles. Currently, they use battery packs ranging from 16kWh-85kWh, whereas plug-in hybrid electric vehicles use packs that range from 4kWh to 16kWh.


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