Brooklyn, NY,, Sept. 14, 2016 (GLOBE NEWSWIRE) —
The global market for lithium-ion batteries is projected to witness rapid growth in the forecast period, owing to the several advantages they offer such as longer life and higher efficiency compared to other types of batteries. Moreover, the rising number of applications of lithium-ion battery in diverse sectors, including buses and cars, is estimated to encourage the growth of the overall lithium-ion battery market in the near future.
On the flip side, the low awareness regarding the advantages of lithium-ion batteries and their high costs are the key factors expected to curb the growth of the market in the forecast period. In addition, these batteries have a risk of exploding if exposed to high temperatures. Nevertheless, the technological developments are anticipated to encourage the growth of the market in the coming few years.
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Furthermore, the research study has divided the global and China lithium-ion battery market on the basis of application into power battery, consumer electronics, and others. The consumption, size, and share of each segment have been discussed in the research study to give a clear understanding of the market. The key players in the market are focusing on expanding their product portfolio to strengthen their position in the next few years.
The global lithium-ion battery market has been categorized on the basis of geography into China, India, Japan, the EU, Southeast Asia, and the U.S. Among these regions, China and Japan are estimated to grow at a fast pace in the coming few years. The rigid government regulations concerning the emission of carbon dioxide from vehicles are projected to accelerate the growth of the lithium-ion battery market in China. In addition, hybrid buses in China make use of lithium-ion batteries, thus fueling the growth of the market in the next few years. Japan is considered as a key manufacturer of lithium-ion battery, which is expected to drive the market in this region.
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The prominent players operating in the global and China market for lithium ion batteries include EnerDel, A123, Saft, GS Yuasa Corp, Boston Power, Johnson Controls, and LG Chem. These players are making remarkable efforts in order to create a niche for themselves in the global industry. The research study throws light on the key strategies adopted by the market players in order to guide the entrants in making appropriate business decisions in the near future.
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