Automotive Lithium Ion Battery Pack Market to Register a Stellar Growth Rate of CAGR of 12.5% During 2017-2025

Preference for cost-effective and environment-friendly options in the automotive industry has led to an upsurge in demand of hybrid and plug-in hybrid vehicles. In addition, imposition of various government regulations is projected to impact the global market growth positively. Persistence Market Research states that the global market of automotive lithium ion battery pack is projected to reflect a CAGR of 12.5% over the forecast period, 2017-2026.

Factors Fuelling Global Market Growth

Growth of the global automotive lithium ion battery pack market is mainly bound to various macro-economic and micro-economic factors. As the need for rechargeable batteries with the high energy density continue to increase, demand for the lithium ion batteries is projected to remain high. Adoption of the lithium ion batteries is mainly bound to increasing production of the digital cameras, smartphones, tablets/PC and power tools. With the increasing registration of vehicles, sales of the automotive lithium ion battery packs is projected to increase significantly in the automobile industry.

For detailed insights on enhancing your product footprint, request for a Sample here @ https://www.persistencemarketresearch.com/samples/20797

Governing authorities in several countries are encouraging the automotive manufacturers to opt for environment-friendly options. Government in several countries are further promoting the adoption of various plug-in hybrid and hybrid vehicles in the global market. In order to lower the level of pollution, the automotive manufacturers are increasingly focusing on utilization of the sustainable energy. Adoption of plug-in hybrid and hybrid vehicles for public transportation purposes is further expected to contribute towards the global market growth significantly.

Sales of the lithium ion batteries will also continue to remain high attributed to increasing demand for smartphones with enhanced battery capacity. Speedy draining of the battery life will continue to become a major concern among the manufacturers of smartphone. In order to offer enhanced battery life and capacity, manufacturers are significantly opting for lithium ion batteries during the production of various smartphones. On the other hand, the level of performance of the lithium ion batteries can also degrade and decay the battery in hot temperature conditions. This factors could pose a major challenge towards the global market growth of automotive lithium ion battery packs over the forecast period.

Sales to Remain High for the Hybrid Electric Vehicles

Increasing adoption of hybrid vehicles as a public transport is projected to fuel demand for a battery capacity of less than 20 kwh. In terms of revenues, the less than 20 kwh battery capacity segment is projected to witness the highest growth, recording for more than US$ 5,100 Mn by 2026-end. On the other hand, the more than 41 battery capacity segment is projected to reflect a significant CAGR over the forecast period.

Request For Methodology of this Report here@ https://www.persistencemarketresearch.com/methodology/20797

By 2017-end, the hybrid electric vehicle (HEV) vehicle segment is projected to represent a significant revenue growth, accounting for more than US$ 2,000 Mn. In contrary, the full battery electric vehicle (BEV) vehicle segment is projected to reflect a robust CAGR throughout the forecast period.

Based on vehicle type, the others vehicle type segment is projected to reflect a healthy CAGR over the forecast period. However, the passenger vehicle type segment is projected to generate significant revnues, recording for more than US$ 8,100 Mn by 2026-end.

Market Players                

  • CBAK Energy Technology, Inc
  • Panasonic Corporation
  • BYD Company Limited
  • GS Yuasa Corporation
  • LG Chem Ltd.
  • Samsung SDI Co., Ltd.
  • Tesla Motors, Inc.
  • Hitachi Chemical Company, Ltd.
  • Saft Groupe SA
  • Wanxiang Group Corporation

For in-depth competitive analysis, Check Pre-Book here @  https://www.persistencemarketresearch.com/checkout/20797

Reasons to Purchase this Report:

Accuracy and Quality
Our reports strive to offer superior quality reports based on authentic and accurate findings.
Customer Satisfaction
We aim to ensure that our client’s research needs are met with customized, top-of-the-line solutions.
Unmatched Expertise
Our analysts and consultants are among the best in their field and promise to deliver excellent market intelligence.
360-degree Analysis
We leave no stone unturned to give clients an exhaustive coverage of the industry.

Request PMR insights on measuring the impact of COVID-19 coronavirus across industries

Report Highlights:

  • Shifting Industry dynamics
  • In-depth market segmentation
  • Historical, current and projected industry size Recent industry trends
  • Key Competition landscape
  • Strategies of key players and product offerings
  • Potential and niche segments/regions exhibiting promising growth
  • A neutral perspective towards market performance

Recommended For You

About the Author:

Leave a Reply

Your email address will not be published. Required fields are marked *