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Asia will Bolster Growth of the Li-Ion Battery Pack Market Registering 3% growth During the Forecast Period 2021-2031

Global lithium-ion-battery-pack-market

The li-ion battery market revenue totalled US$ 57.4 Bn for 2020, according to Fact.MR, a market research and competitive intelligence provider.

ROCKVILLE, MARYLAND, UNITED STATES, December 1, 2021 /EINPresswire.com/ — The li-ion battery market revenue totalled US$ 57.4 Billion for 2020, according to Fact.MR, a market research and competitive intelligence provider. Li-ion’s quality of being lightweight and the drop in the price for li-ion is driving the sales of the same.

In addition, the demand from electric vehicles will accelerate the sales of li-ion battery packs. Thus, the overall li-ion market is expected to reach US$ 75.3 Billion by 2031, witnessing a slow growth CAGR of 3% from 2021-31. in the forecast period 2021-2031.

Li-Ion Battery Pack Market size across various regions and segments is validated from primary interviews with industry participants and experts. Statistical checks have been applied with base driving and economic factors. Bottom-up and top-down approaches is utilized at subsequent levels to cross validate market data.

The Demand analysis of Li-Ion Battery Pack Market offers a comprehensive analysis of diverse features, demand, product developments, revenuguie generation, and sales of Li-Ion Battery Pack Market across the globe.

The Market survey of Li-Ion Battery Pack offers a comprehensive analysis of diverse features, including production capacities analysis of Li-Ion Battery Pack, demand, product developments, revenue generation, and Size of Li-Ion Battery Pack Market across the globe.

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Key Segments Covered

• Product Type
o Lithium Cobalt Oxide Battery Pack
o Lithium Magnesium Oxide Battery Pack
o Lithium Iron Phosphate Battery Pack
o Lithium Nickle Manganese Cobalt Oxide Battery Pack
o Lithium Nickle Cobalt Aluminium Oxide Battery Pack
o Lithium Titanate Battery Pack
• Cell Type
o Cylindrical Li-Ion Battery Pack
o Prismatic Li-Ion Battery Pack
o Pouch Li-Ion Battery Pack
• Nominal Voltage
o Less than 12V Li-Ion Battery Pack
o 12V Li-Ion Battery Pack
o 24V Li-Ion Battery Pack
o More than 24V Li-Ion Battery Pack
• Battery Capacity
o >20 kWh Li-Ion Battery Pack
o 30-60 kWh Li-Ion Battery Pack
o 60-80 kWh Li-Ion Battery Pack
o More than 80 kWh Li-Ion Battery Pack
• End Use
o Automotive Li-Ion Battery Pack
o Consumer Electronics Li-Ion Battery Pack
 Laptops
 Digital Camera
 Others
o Medical Devices Li-Ion Battery Pack
o Industrial & Grid Energy Li-Ion Battery Pack

A comprehensive estimate of the Li-Ion Battery Pack market has been provided through an optimistic scenario as well as a conservative scenario, taking into account the Sales of Li-Ion Battery Pack during the forecast period. Price point comparison by region with the global average price is also considered in the study.

The analysts have used numerous industry-wide prominent business intelligence tools to consolidate facts, figures, and market data into revenue estimations and projections in the Market Insights of Li-Ion Battery Pack.

Key stakeholders in Market including industry players, policymakers, and investors in various countries have been continuously realigning their strategies and approaches to implement them in order to tap into new opportunities.

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Some Notable Offerings by Fact.MR Report on Li-Ion Battery Pack market:

• We will provide you an analysis of the extent to which this Li-Ion Battery Pack market research report acquires commercial characteristics along with examples or instances of information that helps you to understand it better.
• We will also help to identify customary/ standard terms and conditions, as offers, worthiness, warranty, and others.
• Also, this report will help you to identify any trends to forecast growth rates.
• The analyzed report will forecast the general tendency for supply and demand.

Key Takeaways from the Market Study

• By type, lithium iron phosphate to hold highest share surpassing US$ 16 Bn
• Automotive industry to be primary end user, accounting for almost 9 out of 10 sales
Lithium cobalt oxide battery packs to be valued at US$ 64.4 Bn by 2031-end
• Pouch cells set to expand at a CAGR of 4.7%, gaining 271 BPS until 2031
• Nominal voltage less than 12V to generate absolute opportunity worth US$ 8.9 Bn
• U.S to account for 40% of the global li-ion battery pack market until 2031
• Li-ion battery pack industry expected to register a CAGR around 3% throughout Asia.

Some of the Li-Ion Battery Pack Market insights and estimations that make this study unique in approach and effective in guiding stakeholders in understanding the growth dynamics. The study provides:

• Details regarding latest innovations and development in Li-Ion Battery Pack and how it is gaining customer traction during the forecast period.
• Analysis about the customer demand of the products and how it is likely to evolve in coming years.
• Latest regulations enforced by government bodies and local agencies and their impact on Demand of Li-Ion Battery Pack Market .
• Insights about adoption of new technologies and its influence on the Li-Ion Battery Pack market Size.
• Overview of the impact of COVID-19 on Li-Ion Battery Pack Market and economic disruptions caused by the pandemic.
• Evaluates post-pandemic impact on the Sales of Li-Ion Battery Pack Market during the forecast period.

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How are Burgeoning EV Sales Spurring Demand for Li-Ion Battery Packs?

Governments across the globe are focusing on reducing pollutants that are emitted by conventional vehicles. In addition, the depletion of natural resources is causing a threat to the environment. Thus consumers have shown an inclination towards using electric vehicles due to their efficiency.
Electric vehicle manufacturers have given preference to using li-ion batteries as they store energy for longer runs and can be used in hybrid vehicles too. Along with this, the hassle of maintaining engine efficiency is not needed. The sales of electric vehicles has increased. This, in turn, has upsurged the sales of li-ion battery packs.

How will Energy Storage Applications Open Growth Frontiers for Li-Ion Battery Packs?

Li-ion battery packs exhibit considerable potential for application to grid-level energy storage systems. These batteries impart high energy efficiency, have longer life cycles, and relatively higher energy density. Hence, they can be integrated with renewable energy sources in grid-energy storage systems.
Most frequently, li-ion batteries in this respect are deployed for the purpose of frequency regulation and peak shaving. Frequency regulation requires a fast response, high performance rate and enhanced power capability for the systems, for which li-ion batteries are best suited. In terms of their high round-trip efficiency and energy density, LIBs exhibit considerable potential for application.
Will the Automotive Industry Remain the Primary End User?

According to Fact.MR, automotive applications are likely to account for bulk of the li-ion battery pack demand in forthcoming years, expanding at a CAGR of 4% until 2031. Widening popularity of EVs, e-bikes and automated guided vehicles are spurring usage.
Amongst all vehicle types, demand across BEVs and PHEVs are expected to be the strongest, as they offer a high degree of convenience to automobile users. Although, uptake in the short-run will remain restricted as the pandemic induced recession will fade gradually.

After reading the Market insights of Li-Ion Battery Pack Report, readers can:

• Understand the drivers, restraints, opportunities and trends affecting the Sales of market.
• Analyze key regions holding significant share of total Li-Ion Battery Pack market revenue.
• Study the growth outlook of Li-Ion Battery Pack market scenario, including production, consumption, history and forecast.
• Learn consumption pattern and impact of each end use & supply side analysis of Li-Ion Battery Pack market.
• Investigate the recent R&D projects performed by each market player & competitive analysis of Li-Ion Battery Pack Market Players.

Read More Trending Reports of Fact.MR: –https://www.globenewswire.com/en/news-release/2018/03/09/1419698/0/en/Volume-Sales-of-Combine-Harvesters-will-Remain-Largest-in-APEJ.html

How Fact.MR Assists in Making Strategic Moves For Li-Ion Battery Pack Market Manufacturer?

• The data provided in the Li-Ion Battery Pack market report offers comprehensive analysis of important industry trends. Industry players can use this data to strategize their potential business moves and gain remarkable revenues in the upcoming period.
• The report covers the price trend analysis and value chain analysis along with analysis of diverse offering by market players. The main motive of this report is to assist enterprises to make data-driven decisions and strategize their business moves.

Competitive Landscape

As the li-ion battery pack market is consolidated with few players, manufacturers are forming partnerships with other players in order to introduce innovative solutions in the industry.
• In March 2020, Toshiba Corporation announces that its SCiB lithium ion battery modules are compliant with Nippon Kaiji Kyokai’s guideline for protection of sea life.
• In February 2021, Johnson Control announces the launch of its Lithium-Ion Risk Prevention System to provide an early warning battery failure in lithium-ion.

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