Lithium Ion Battery Market is estimated to surpass US$ 71,035.0 Mn by 2025
According to the new research report published by The Insight Partners, titled “Lithium-ion Battery - Global Analysis and Forecast to 2025”, The global lithium-ion battery market is expected to grow at a CAGR of 14.9% during the forecast period 2018 - 2025, to account to US$71.04 Bn by 2025. In 2017, Asia Pacific accounted for the largest revenue share in the lithium-ion battery market . High market share is primarily due to presence of major PEV and PHEV vehicle and E-Bike manufacturers such as BYD, KANDI, Zotye, Phylion and others. The region also includes the presence of high volume (units) electronic device product manufactures such as Toshiba and Samsung. Further, banning of fuel powered motorcycles in China has also resulted the increase penetration of Li-Ion batteries from 6% to 17% in the country. Further, government initiatives to promote in-house manufacturing in developing countries across the region is driving the sales of electronic components in the region thereby...