The transportation sector of the global lithium-ion battery market will be boosted to a fair degree by declining lithium-ion battery costs through the year 2019, according to a new report from Technavio.
The new report — titled Global Li-ion Battery Market in Transportation Sector 2015-2019 — predicts that the compound annual growth rate for the global lithium-ion battery market in the transportation sector for 2015–2019 will be higher than 21%.
The new report from Technavio “highlights the rapid decrease in cost of lithium-ion batteries, which is driven by the increasing use of lithium-ion batteries in battery electric vehicles (BEVs), plug-in hybrids (PHEVs), HEVs, UPS systems, forklifts, consumer electronic devices, and backup power supplies.”
“With the decrease in cost of lithium-ion batteries, manufacturers will increasingly be able to leverage economies of scale with growth in market size and production scales,” noted Faisal Ghaus, Vice President of Technavio.
The new report + analysis from Technavio also puts a light on the (future) creation of next-gen batteries for various electronic devices and/or vehicles — which is primarily down to growing interest in, and demand for, high-performance lithium-ion batteries.
“The lithium-ion battery market is steadily shifting to high-energy silicon electrodes in place of conventional graphite ones, as these batteries offer long-lasting energy for laptops and EVs,” added Ghaus.
“The report covers the present scenario and the growth prospects of the global Li-ion battery market for the transportation sector for the period 2015–2019. The market has been segmented on the basis of geography and application. Technavio’s report, Global Li-ion Battery Market for Transportation Sector 2015–2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas, APAC, and EMEA; it also covers the market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.”
Interestingly, the report also (apparently) covers the subject of potential competition form aluminum batteries.
Those interested in more information on the report can find it here.
Image Credit: Technavio