Go-To Resources About Lithium-ion Battery

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 Global lithium-ion battery market was valued $36.7 billion in 2019, and is projected to reach $129.3 billion by 2027, at a CAGR of 18.0% from 2020 to 2027. Lithium-ion (Lithium-ion) batteries are rechargeable batteries with high energy density and are majorly used in portable equipment. The market for these batteries is expected to witness a significant growth during the forecast period, owing to their increase in use in smartphones, tablets/PCs, digital cameras, and power tools. Moreover, the demand for Lithium-ion batteries in the automobile industry is expected to increase with rise in demand for electric vehicles. 

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Moreover, Tesla announced to build a battery plant known as GigaFactory in Nevada, U.S., which is expected to start lithium-ion cell production by 2017. This project is anticipated to reduce the price of Lithium-ion batteries owing to mass production. 
The global Lithium-ion battery market is segmented into component, end-use industry, and region. On the basis of component, the market is divided into cathode, anode, electrolytic solution, and others (foils, binders, and separators). By end-use industry, it is categorized into electrical & electronics, automotive, industrial, and others (medical, military, and textile). 
Region wise, the lithium-ion battery market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Some of the key players operating in this market include Automotive Energy Supply Corporation, Panasonic Corporation, Samsung SDI Co. Ltd., LG Chem Power (LGCPI), LITEC Co., Ltd., A123 Systems, LLC, Toshiba Corporation, Hitachi Chemical Co., Ltd., China BAK Battery Co. Ltd., and GS Yuasa International Ltd.

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