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Global Transportation Li-ion Battery Market to ‘Reach $22bn in 2020′

The global market for lithium ion (Li-ion) batteries in light duty vehicles will grow from $1.6 billion in 2012 to almost $22 billion in 2020, according to a Pike Research report.

The free report, Electric Vehicle Batteries, says the Asia Pacific region will continue to lead the global Li-ion battery market with China replacing Japan as the leader in automotive Li-ion battery production by 2015.

China’s competitive advantage — fueled by heavy government support — has attracted automakers in the US, Europe and Japan, which continue to partner with Chinese manufacturers, Pike Research says.

Li-ion batteries will surpass nickel-metal hydride as the preferred hybrid battery, senior research analyst David Alexander says, adding that many manufactures launched new battery electric and plug-in hybrid vehicles in 2012. All featured Li-on batteries.
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