Skip to main content

Lithium batteries market and electric vehicles

According to a new report published by Allied Market Research, the global lithium-ion battery market is expected to generate revenue of US$46.21 billion by 2022, with a CAGR of 10.8 per cent during the forecast period (2016-2022). The report indicates that the market for these batteries is expected to witness notable growth because of their increasing application in the automotive sector. Additional key factors contributing to the increasing demand of lithium is the growing use of portable electronic dev
April 13, 2017 Read time: 2 mins
According to a new report published by Allied Market Research, the global lithium-ion battery market is expected to generate revenue of US$46.21 billion by 2022, with a CAGR of 10.8 per cent during the forecast period (2016-2022).

The report indicates that the market for these batteries is expected to witness notable growth because of their increasing application in the automotive sector. Additional key factors contributing to the increasing demand of lithium is the growing use of portable electronic devices such as smartphones, tablets, and others; stringent government regulations aimed at reducing the increasing pollution levels; and enhanced efficiency of lithium-ion batteries.

From a growth perspective, the automotive sector would be the most prominent user of these batteries and is anticipated to witness the highest CAGR of 13.6 per cent during the period.

The research also reveals that Asia-Pacific is the largest revenue-generating region in this market, followed by North America. The Asia-Pacific region is likely to exhibit the highest growth, with a CAGR of 12.4 per cent during the forecast period. The growth would be driven by the rising demand from consumer electronics segment and increasing number of electric vehicles in China, Japan and India.

Related Content

  • December 2, 2013
    Transportation safety and security markets worth US$62.96 billion by 2018
    The latest report from MarketsandMarkets forecasts the global transportation safety and transportation security market to grow from US$37.80 billion in 2013 to US$62.96 billion in 2018, at a Compound Annual Growth Rate (CAGR) of 10.7 per cent from 2013 to 2018. North America (NA) is expected to be the biggest contributor in terms of revenue contribution, while the growing markets Asia Pacific (APAC), Middle East and Africa (MEA) and Latin America (LA), are expected to experience increased market traction
  • January 13, 2016
    Traffic management market ‘worth US$17.64 billion 2020’
    According to a new market research report published by MarketsandMarkets, the traffic management market is predicted to grow from US$4.12 billion in 2015 to US$17.64 billion by 2020, at a compound annual growth rate (CAGR) of 33.8 per cent during the forecast period. Increasing environmental concerns, rapid urbanisation and population explosion, together with demand for real-time information are the main drivers driving the growth of the market. The increasing need to access real-time information capture
  • December 18, 2014
    Growth predictions for parking management market
    According to a new market research report Parking Management Market by Solution (Parking Software, On-Street Parking, Off-Street Parking, Access Control, Security and Surveillance, Parking Fee and Revenue Management, Parking Enforcement and Permit Management) - Global forecast to 2019, published by MarketsandMarkets, the global parking management market is expected to grow from US$5.0 billion in 2014 to US$9.2 billion by 2019, at a compound annual growth rate (CAGR) of 12.8 per cent. The global parking m
  • December 18, 2013
    Fleet management market worth US$30.45 billion by 2018
    MarketsandMarkets recently conducted a study on the "Fleet Management Market (Fleet Analytics; Vehicle Tracking & Fleet Monitoring; Telematics; Vendor Services) By Vehicles (Trucks; Light Goods; Buses; Corporate Fleets; Container Ships; Aircrafts) Worldwide Market Forecasts and Analysis (2013 - 2018)", which analysed and studied the major market drivers, restraints and opportunities in North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa. The study indicates that the fleet manageme