Lithium ion (Li-ion)
batteries are commonly used type of rechargeable batteries with twice the
energy density of Nickel-Cadmium batteries and greater stability and safety.
Lithium (Li) is the lightest of all metals, has the greatest electrochemical
potential, and provides the largest energy density for weight.
As compared to
traditional battery technology, lithium-ion batteries charge faster, last
longer, and have a higher power density for more battery life in a lighter
package. Lithium ion battery consists of three main components namely positive
and negative electrode separated by an extractor dipped in electrolyte.
Negative electrode is normally an electron donor group that is electropositive
in nature like lithium metal. Positive electrode is normally an electron
acceptor which is strongly electronegative.
The features
accountable for the growth of automotive li-ion battery market are increasing
passenger vehicles and CO2 emission targets; whereas the challenges
faced by market are longer duration of charging time and high internal
resistance. The global automotive Li-ion battery market is segmented on the
basis of power capacity, application, and region. On the basis of power
capacity analysis, the global market is classified into 5-25 Wh, 48-95 Wh,
18-28 KWh, 100-250 KWh, More than 300 KWh.
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The “low power
lithium-ion battery (5-25 Wh)” segment seized the lead in the global market,
accounting for maximum market share in 2015; whereas, the 18-28 KWh segment is
expected to witness significant growth during the forecast period, registering
a significant CAGR by value from 2014 to 2025. On the basis of application
analysis, the global market is classified into consumer electronics,
automotive, grid energy & industrial.
“Consumer
electronics” segment accounted for the maximum market share in the lithium-ion
battery market in terms of revenue. It is expected that saturation in several
countries will allow the automotive segment to gain much energy; showing the
fastest growth during the forecast period. Geographically, the global market is
segmented into North America (U.S., Canada), Europe (Germany, France, Italy,
England, Spain), Asia Pacific (China, Japan, India, ASEAN), Latin America
(Brazil, Mexico), Middle East & Africa (GCC, South Africa, Egypt).
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