Lithium Ion Battery Market: High Life Cycle for Consumer Electronics

Transparency Market Research (TMR), a market intelligence company based in the U.S., recently published a research report on the global lithium ion market. According to the study, the global lithium ion battery market will reach a value of US$33.11 billion by 2019 from US$11.70 billion in 2012, registering a healthy CAGR of 14.4% from 2013 to 2019. The research report, titled “Global Lithium Ion Battery Market - Industry Analysis, Size, Share, Growth, Trends, and Forecast 2013 - 2019” is available for sale on the company website.The TMR study states, the increasing need of alternate energy sources from automobiles, consumer electronics, and industrial sector is primarily driving the global lithium ion battery market.

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Escalating crude oil prices has significantly increased the demand for Electric Vehicles and Hybrid Electric Vehicles (HEVs) powered by lithium ion batteries in the automobiles sector, as per the study findings. Further in consumer electronics, lithium ion batteries are highly demanded to offer high life cycle and ensure slow battery discharge in devices such as tablets, which will propel the market.Mounting environmental concerns due to the increasing rate of carbon emissions and stringent regulations imposed by the government to control the same particularly in regions such as North America, Europe, and China are increasing the adoption of lithium ion batteries, as per TMR findings.However, high price and inadequate awareness regarding the advantages of lithium ion batteries will hinder growth of the market, adds the report. As such, lithium ion batteries find lower adoption in electronics, automotive, and industrial sectors.

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Moreover, lithium ion...