San Francisco, California, April 10, 2018 – The global lithium ion battery market is prophesied to witness a propelling demand because of increasing awareness about different advantages of using the battery: no memory effect, high energy density, environment-friendliness, rechargeable, and lightweight. In one of its reports, TMR Research provides information on other factors that could provide a fillip to the market in the near future. It is titled “Lithium Ion Battery Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 – 2025.” Lithium ion battery is expected to up its demand in the market due to increasing adoption in electronic consumables such as automobiles, tablets, and smartphones.
As the demand for tablets and smartphones shoots up, the world lithium ion battery market is anticipated to subsequently renew its growth in the coming years. The market could see soaring sales on the back of the elevating intensity of the need for green and efficient solutions for energy storage and power supply. On the other hand, the dampening recognition of sodium sulfur, lead acid, nickel-metal hydride, and other conventional batteries as a result of their hazardous effect on the environment could stoke the demand for lithium ion battery. Especially in the automotive industry, the market is predicted to rake in handsome growth owing to the swelling production of electric and hybrid electric vehicles.
Get Sample Copy of this Report @
However, the extensive adoption of lithium ion battery is foreseen to experience a drop because of its expensive cost when set side by side with traditional batteries. In addition, the risk of overheating and the consequent fire kindled, thus damaging electronic devices and vehicles could hinder the world lithium ion battery market from achieving its true potential during the course of the forecast period. Nonetheless, there could be some powerful prospects to cash in on during desperate times, as mentioned in the report.
The international lithium ion battery market is foretold to generate a massive demand in Asia Pacific as a result of its impressive growth in the recent years. The region provides roof to a decent count of manufacturers operating in the industry. Japan, Australia, Singapore, China, and India are prophesied to be high-growth sites for the regional market. Rising number of regulations imposed to curb carbon footprint and pollution in these economies could help the market to boost its growth in the foreseeable future.
With that being projected, North America may not be left behind in the race of attaining a larger growth in the international lithium ion battery market. The developed region is envisaged to bank on the snowballing demand for premium consumer electronics and inflated sales of electric automobiles. Influential players such as Hitachi Chemical, Johnson Controls, and LG Chem could make their presence known in the global market.