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Lithium Ion Battery Market is Expected to Reach USD 33.11 Billion in 2019: Transparency Market Research

Lithium Ion Battery Market is Expected to Reach USD 33.11 Billion in 2019: Transparency Market Research

Transparency Market Research Published new report “Global Lithium Ion Battery Market (Cathode, Anode, and Electrolytic solution) – Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2013- 2019” to its report store.

According to a new market report published by Transparency Market Research “Global Lithium Ion Battery Market (Cathode, Anode, and Electrolytic solution) – Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2013- 2019”, the global market was worth USD 11.70 billion in 2012 and is expected to reach USD 33.11 billion in 2019, growing at a CAGR of 14.4% from 2013 to 2019. Due to the increasing demand and huge potential of lithium-ion battery in consumer, automotive and industrial sectors, Asia Pacific was the largest market for lithium-ion batteries in 2012.

The lithium-ion battery market is primarily driven by improving efficiency of battery and increasing application in EVs and HEVs and energy, medical and military. In addition, stringent government regulations related to carbon emissions in regions such as Europe, North America and China is supporting its growth. At the same time, higher life cycle as compared to lead nickel, nickel cadmium and nickel metal hydride batteries is expected to increase L-I demand in the coming years. High price as compared to other batteries and the risk of overheating are the factors inhibiting lithium-ion battery growth globally. However, the price is coming down and will have a positive impact on the market in the coming years.
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