Key drivers in the global lithium-ion battery industry include the growing demand for Li-ion batteries in grid energy storage
Global Lithium-ion Battery Market 2012-2016 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-03-21 11:23:02
The Global Lithium-ion Battery market to grow at a CAGR of 17.9 percent over the period 2012-2016. One of the key factors contributing to this market growth is the growing demand for Li-ion batteries in grid energy storage. The Global Lithium-ion Battery market has also been witnessing the advancement in technology. However, the high cost of Li-ion batteries could pose a challenge to the growth of this market.
The increased variety of applications for Li-ion batteries is another major factor that is currently influencing the growth of the Global Li-ion Battery market. Li-ion batteries have diverse applications spanning various fields. They are used in different sectors such as the Consumer Electronics, Industrial, and Automotive sectors, which include cell phones, laptop PCs, power tools, industrial cranes, gardening machines, electric bikes, electric scooters, tablets, medical devices, UPS systems, electric automobiles, and transit buses. Thus, the increasing demand for Li-ion batteries from various sectors is one the driving factors influencing the growth of the Global Li-ion Battery market.
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