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Global Li-Ion market to double despite issues

Frost & Sullivan values market at $11.7-billion
The global lithium-ion battery market was worth $11.7 billion in 2012 and is expected to double by 2016, according to Frost & Sullivan. This will happen despite the recent issues experienced by Boeing, and despite Airbus decision to abandon these batteries. In fact, these incidents may affect the demand only in the short-term.

“Although consumer application accounts for the highest revenues, fastest growth can be witnessed in the industrial segment,” confirms Frost & Sullivan’s Research Manager Malavika Tohani. North America holds the highest share of revenues for consumer and industrial applications while Europe boasts the highest revenues for industrial lithium-ion batteries (LiBs). The highest growth in industrial battery demand is expected to come from APAC. China, Japan and South Korea account for close to 85-90% of the global LiB production.

China, in particular, has the highest concentration of LiB manufacturers: over 200 players catering especially to the consumer segment and around 30-40 companies for automotive applications. The Chinese Government is strongly promoting EVs, grid scale energy storage and smart grids. Furthermore, many of the US companies that have gone bankrupt have been acquired by Chinese firms and hence this region is expected to further strengthen itself as a leader for LiB production.
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