Covid-19 Impact on Lithium Ion Battery Market is Booming Across the Globe, Explores the Latest Report

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Detroit, Michigan, Feb 03rd 2022. Stratview Research has launched a new report, titled Lithium Ion Battery Market segmented by Material Type (Lithium Nickel Manganese Cobalt Oxide, Lithium Iron Phosphate, Lithium Cobalt Oxide, Lithium Titanate Oxide, Lithium Manganese Oxide, and Lithium Nickel Cobalt Aluminum Oxide), by Product Type (Cell, Battery Pack), by Voltage Type (Low (Below 12V); Medium (12-36V); and High (Above 36V)), by Power Capacity Type (0 to 3,000 MAH; 3,000 to 10,000 MAH; 10,000 to 60,000 MAH; and Above 60,000 MAH), by Industry Type (Consumer Electronics, Automotive, Aerospace & Defense, Marine, Medical, Industrial, Power, and Telecommunication), and by Region (North America, Europe, Asia-Pacific, and Rest of the World)

Covid-19 Impact Analysis:

Covid-19 has highly impacted the market dynamics, competition, and supply chain of almost all industries. The revenues have gone down in 2020 and are expected to resume an uptrend gradually from 2021 and continue to grow further. The report covers all the segments that were affected by the pandemic.

Market Insight:

According to the report, Lithium Ion Battery (HPA) Market is likely to witness a CAGR of more than 14% during the forecast period. The demand for Lithium Ion Battery is expected to rise in response to the rapid growth of the electronics and related industries. Furthermore, globally, the electronics sector has experienced substantial expansion, innovation, and change to higher levels over the last two decades. Additionally, owing to its increased use in many electrical components, a key section of the electronics industry – LEDs – has seen profitable expansion in recent years. One such high-value-added chemical substance is high-purity alumina, which is employed in a variety of electronic applications for high-grade end use. Demand for Lithium Ion Battery is expected to increase significantly in the future years, assisting the market’s growth.

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Market Segments’ Analysis:

Lithium-Ion Battery Market Share: By Material Type

Based on the material type, the market is segmented as lithium nickel manganese cobalt oxide, lithium iron phosphate, lithium cobalt oxide, lithium titanate oxide, lithium manganese oxide, and lithium nickel cobalt aluminum oxide. The lithium nickel manganese cobalt oxide segment held the largest share of the market in 2019, and is expected to remain dominant during the forecast period. The higher share of the segment is attributed to the growing demand for lithium nickel manganese cobalt oxide used in batteries of mobile phones, laptops, automotive, tablets, power tools, and electrical storage systems.

Lithium-Ion Battery Market Share: By Voltage Type

Based on the voltage type, the market is segmented as low (below 12V); medium (12-36V); and high (above 36V). The high (above 36V) segment is estimated to remain the largest segment over the forecast period, owing to properties such as longer life and safety. Also, the largest contribution is attributed to the rising requirement for this voltage type in marine, electric vehicles, military, power, telecom, etc.

Lithium-Ion Battery Market Share: By Region

In terms of regions, Asia-Pacific is estimated to be the largest market for lithium-ion batteries during the forecast period. The Asia-Pacific’s market is expected to expand with a lucrative CAGR owing to the well-established consumer electronics market in the region, especially in China. Further, the demand from the automotive industry in the region will also augment the regional growth. North America and Europe are also expected to offer considerable growth opportunities during the forecast period.

Lithium-Ion-Battery-Market-By-Region

Key Players:

The following are the key players in the Lithium Ion Battery Market:

  • BYD Company
  • LG Chem
  • Panasonic Corporation
  • Samsung SDI
  • BAK Group
  • GS Yuasa Corporation
  • Hitachi
  • Johnson Controls
  • Toshiba Corporation
  • Lithium Werks

TOC: https://bit.ly/3mncYJ0

Frequently Asked Questions –

This report provides vital information and valuable insights, enabling the users to identify the strategic growth opportunities in the market. The report aims at answering the following key questions:

  • What is the current and future market size of Lithium Ion Battery Market?
  • How has the COVID-19 pandemic impacted the market? How fast is it expected to recover?
  • What will be the short and long-term effects of the pandemic?
  • How are other market factors affecting the market dynamics?
  • Which segments offer high-growth opportunities in the long run?
  • How fierce is the Lithium Ion Battery Market competition?
  • What are the key emerging trends and unmet needs in the present market?
  • What are the strategic growth opportunities and key success factors?

Custom Research:

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About Stratview Research

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