The global Lithium Ion Battery Market is estimated to surpass $98.5 billion mark by 2026 growing at an estimated CAGR of more than 10.1% during the forecast period 2021 to 2026. Lithium – ion batteries are the secondary (Rechargeable) batteries commonly used in consumer electronics such as cell phones, laptops, tablets and other portable devices. Lithium – Polymer battery is also categorized under lithium – ion batteries. The lithium-ion battery market is owing to the growing emphasis on electric vehicles throughout the world. The automotive sector uses the lithium-ion battery at multiple stages of the production line of the vehicle. Rising investments in the development of electric vehicles are some of the key opportunities for the lithium-ion battery recycling market. Most companies have started recycling lithium-ion batteries as there is low accessibility for some of the raw materials such as lithium and cobalt. The rising dependence on NMC, Lithium cobalt oxide and Lithium iron phosphate batteries are in particular witnessing increased adoption in electric vehicles and consumer electronics.
Lithium Ion Battery Market Report Coverage :
The report : “Lithium Ion Battery Market– Forecast (2021-2026)”, by IndustryARC covers an in-depth analysis of the following segments of the Lithium Ion Battery Market.
By Chemistry : Lithum Iron Phosphate, Lithium Cobalt Oxide, Lithium Manganese, Lithium Nickel Cobalt Aluminium Oxide, Lithium Nickel Manganese Cobalt Oxide, Lithium Titanate and Others
By End Use Industry : Automotive, Industrial, Energy and Power, Telecom, Medical, Aerospace and Defense, Consumer Electronics and Others
By Geography : North America (U.S, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Russia and Others), APAC(China, Japan India, SK, Aus and Others), South America(Brazil, Argentina and others), and RoW (Middle East and Africa).