SAN FRANCISCO, July 22, 2020 /PRNewswire/ -- The global rechargeable poly lithium ion battery market size is expected to reach USD 197.9 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 6.0% from 2020 to 2027. Growing sales of electric vehicles and variation in customer's preferences are expected to boost the market growth.
The market has become the dominant battery market for consumer electronic devices and is assured to become routine place for transportation, industrial, and power-storage systems. From a technological point of view, because of high energy density, demand for rechargeable poly lithium ion batteries has been driven by rapid growth of portable electronic equipment, such as laptops, mobiles, and digital cameras.
Key suggestions from the report:
- By structure, the cylindrical battery segment accounted for the largest revenue share in 2019
- The prismatic battery is expected to witness the fastest growth over the forecast period
- Asia Pacific is projected to grow at a substantial rate throughout the forecast period. India is expected to account for a considerable share in the Asia Pacific region over the forecast period
- North America is likely to expand at a moderate growth rate during the projected period.
Read 130 page research report with ToC on "Rechargeable Poly Lithium Ion Battery Market Size, Share & Trends Analysis Report By Structure (Cylindrical, Prismatic), By Application (Electric Vehicles, Consumer Electronics), And Segment Forecasts, 2020 - 2027" at: https://www.grandviewresearch.com/ industry-analysis/rechargeable-pli-poly-lithium-ion-batteries-industry
Additionally, product demand has been enhanced by the anticipation that rechargeable batteries will play as an important alternative energy technology used in electric bikes (e-bikes), hybrid vehicles, stationary energy storage, electric vehicles (EVs), and plug-in hybrid electric vehicles (PHEVs) applications, such as medical, solar power storage, data center, telecommunication, unmanned vehicles, telecom sector, remote stations, and remote location batteries.
The electric vehicles segment application dominated the overall market and accounted for 32.2% share of the total revenue in 2019. The power application segment is expected to register the fastest CAGR of 7.8% from 2020 to 2027.
Grand View Research has segmented the global rechargeable poly lithium ion battery market based on structure, application and region:
- Rechargeable Poly Lithium Ion Battery Structure Outlook (Revenue, USD Million, 2016 - 2027)
- Rechargeable Poly Lithium Ion Battery Application Outlook (Revenue, USD Million, 2016 - 2027)
- Electric Vehicles
- Consumer Electronic
- Power
- Industrial
- Others
- Rechargeable Poly Lithium Ion Battery Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- Europe
- Germany
- U.K
- France
- Russia
- Spain
- Italy
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- Central & South America
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Egypt
- List of Key Players of Rechargeable Poly Lithium Ion Battery Market
- A Place for Rover, Inc.
- Sony
- Nikon
- Fujifilm
- Olympus
- Motorola
- 3M
- Koninklijke Philips N.V.
- Kodak
- Maxell
- Nippon Chemicals
- LiPol Battery Co. Ltd.
- YOK Energy
- Shenzhen Honcell Energy Co. Ltd.
Find more research reports onDistribution & Utilities Industry, by Grand View Research:
- Lithium-Ion Battery Market– The global lithium-ion battery market size was valued at USD 22.8 billion in 2016 on account of its increasing demand for grid storage and electric vehicles as it offers lightweight and high-energy density solutions.
- Automotive Battery Market– The global automotive battery market size was valued at USD 48.71 billion in 2016. The market is expected to witness significant growth over the coming years owing to rapid expansion in the automotive industry.
- Battery Recycling Market– The global battery recycling market size was valued at USD 8.74 billion in 2016. Stringent government regulations and the growing end-use industries including transportation, consumer electronic, and industrial applications are expected to elevate the demand.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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